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Business ASEAN News Reports Southeast Asia

Indonesians Dominate Southeast Asian Billionaires List

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There are now more billionaires than ever: 2,781, 141 more than last year, and 26 more than the record set in 2021.

The lone Southeast Asians among the top 100 wealthiest are all Indonesians.

Brothers R. Budi (71st) and Michael Hartono (76th) retain their top spot with a combined fortune of $52 billion. They own and run the privately held Djarum, the world’s third-largest maker of clove cigarettes. They also have a stake in one of Indonesia’s biggest banks, Bank Central Asia,

Placed second in Southeast Asia is petrochemicals and energy magnate Prajogo Pangestu (27th), this year’s biggest gainer in both dollar and percentage terms with a more than eightfold increase in his net worth to $43.4 billion.

In third place is mining baron Low Tuck Kwong (66th). Low more than doubled his fortune to $27.2 billion from $12.1 billion as his Bayan Resources, the country’s third-largest coal producer.

Behind the Indonesians, in 126th place, comes Li Xiting, a Singaporean and cofounder and chairman of Shenzhen Mindray Bio-Medical Electronics, a supplier of medical devices.

Read more about the world’s wealthiest individuals by clicking HERE.

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