Indonesian Conglomerates' Wealth Decreased in Early 2026 Due to Falling Stock Prices

The wealth of conglomerates in Indonesia plummeted in early 2026, affected by the plunge in the stock prices of their listed companies on the Indonesia Stock Exchange (IDX).

This happened in line with the fall of the Jakarta Composite Index (JCI) on January 28, 2026, after Morgan Stanley Capital International (MSCI) suspended the index assessment of Indonesian stocks due to data transparency issues.

According to Forbes Billionaires data processed by Katadata.co.id, the largest wealth decline was experienced by Prajogo Pangestu.

On January 6, 2026, the wealth of the owner of the Barito Group was still around US$37.8 billion. Then on February 25, 2026, his wealth dropped to US$29 billion, a plunge of 23.28%.

This was influenced by the drop in the stock prices of Prajogo's listed companies on the IDX, namely PT Barito Renewables Energy Tbk (BREN), PT Barito Pacific Tbk (BRPT), and PT Chandra Daya Investasi Tbk (CDIA).

According to IDX data as of February 24, 2026, the stock price of BREN plummeted by 14.52% compared to the previous month (month-to-month/mtm), followed by a 21.62% drop in BRPT (mtm), and a 22.26% drop in CDIA (mtm).

Another tycoon who experienced a significant decline in wealth was Low Tuck Kwong.

During the period of January 6 to February 25, 2026, the wealth of the owner of PT Bayan Resources Tbk (BYAN) and PT Samindo Resources Tbk (MYOH) fell by 14.70% from US$23.8 billion to US$20.3 billion.

In the same period, the wealth of the owners of PT Bank Central Asia Tbk (BBCA), namely Robert Budi Hartono and Michael Hartono, each fell to US$19.7 billion and US$18.9 billion respectively.