Indonesia Tightens Grip on Southeast Asia Rich List in October

Indonesia’s tycoons strengthened their dominance of the Southeast Asia rich list in October, led by energy and petrochemicals magnate Prajogo Pangestu with an estimated net worth of USD41.5bn, according to Forbes-based rankings.

Coal producer Bayan Resources founder Low Tuck Kwong followed with USD25.2bn, while banking and tobacco heirs Robert Budi Hartono and Michael Hartono ranked next at about USD19.4bn and USD18.6bn respectively.

Outside Indonesia, Vietnam’s Vingroup founder Pham Nhat Vuong was valued at USD16.8bn, while Thailand’s CP Group patriarch Dhanin Chearavanont was pegged at USD16.6bn.

Malaysia’s Robert Kuok, with USD12.9bn, and Philippine property developer Manuel Villar, at USD11bn, also featured among the region’s wealthiest individuals.

Indonesia claimed five of the top ten places overall on the Southeast Asia rich list, underscoring how regional wealth is increasingly shifting toward consumer markets, infrastructure and greener energy.