JAKARTA: Prominent businessmen Robert Budi Hartono and his brother, Michael, top the Forbes Indonesia list of 50 richest Indonesians this year.
Also known as the Hartono Brothers, Robert and Michael, were tagged with a net worth of US$37.3 billion in the list according to The Jakarta Post.
The list released recently shows a large portion of the country’s wealth still remains under control of old guards of various industries and legacy conglomerates.
The Hartono Brothers got more than 80 per cent of their wealth from their investment in Bank Central Asia.
The family bought their stake in the bank during the Asian economic crisis in 1997-1998.
The family rose to prominence after their father, Oei Wie Gwan, founded the Djarum cigarette company, which is now run by Robert’s son, Victor.
The family holdings also include popular electronics brand Polytron and a prime real estate here.
In 2017, the Hartono Brothers were also listed on Forbes Asia’s Richest Families.
Other prominent families in the latest Indonesian list are the Widjaja Family, the inheritors of Sinar Mas, in second position with a net worth of US$9.6 billion; PT Barito Pacific Timber head Prajogo Pangestu in third position (US$7.6 billion); Susilo Wonowidjojo, the son of major cigarette maker Gudang Garam founder Surya Wonowidjojo, in fourth position (US$6.6 billion); and polyester businessman Sri Prakash Lohia in fifth position (US$5.6 billion).