Luhut Joins Prabowo's Cabinet: His Wealth During Jokowi's Era

President Prabowo Subianto has appointed Luhut Binsar Pandjaitan to a dual role in the "Red and White Cabinet."

In this new administration, Luhut serves as the Head of the National Economic Council and concurrently as the President's Special Advisor for Digitalization and Government Technology.

"President Prabowo asked me to help improve governance through digitalization. I believe this can lead to greater efficiency," Luhut said at the Merdeka Palace, Jakarta, as reported by *Katadata*, Monday (21/10/2024).

Previously, during President Joko Widodo's administration, Luhut served as the Coordinating Minister for Political, Legal, and Security Affairs from 2015-2016.

He was then appointed as the Coordinating Minister for Maritime Affairs and Investment from 2016-2019 and 2019-2024.

Luhut's wealth has increased significantly during Joko Widodo's presidency.

Based on the State Officials' Wealth Report (LHKPN), at the end of 2019, Luhut's assets were valued at Rp677.44 billion.

By the end of 2023, his wealth had increased to Rp1.04 trillion, an increase of approximately Rp366 billion or a surge of 54% in the last five years.

Luhut's largest asset in 2023 consisted of securities, valued at Rp374.78 billion. He also possesses other assets worth Rp294.59 billion, and land and buildings worth Rp251.61 billion.

Luhut is recorded as owning 18 plots of land and buildings spread across Bogor, East Jakarta, South Jakarta, Central Jakarta, Badung, Malang, North Tapanuli, Toba Samosir, and Simalungun.

This veteran official also owns 7 units of transportation worth Rp6.25 billion, comprising 5 cars and 2 motorcycles. As of the end of 2023, Luhut had debts totaling Rp51.23 billion.

Here's a breakdown of Luhut Pandjaitan's assets based on the LHKPN at the end of 2023:

* Securities: Rp374.78 billion
* Other assets: Rp294.59 billion
* Land and buildings: Rp251.61 billion
* Cash and cash equivalents: Rp164.07 billion
* Transportation: Rp6.25 billion
* Other movable assets: Rp3.38 billion
* Debt: Rp51.23 billion