Indonesia Wealth Surge: Prajogo Pangestu Adds USD20bn in Three Months

Indonesian tycoon Prajogo Pangestu has grown his net worth by over USD20bn since April, reaching USD36.2bn, according to Bloomberg data. The surge follows MSCI’s reinstatement of three Pangestu-linked companies in its index reviews, including Barito Renewables Energy, which jumped 20% on the announcement.

Barito Renewables, central to Indonesia’s green energy transition, accounts for a third of Pangestu’s wealth. However, with family-controlled entities owning 88% of the company, concerns persist over limited free float and potential volatility. JPMorgan analysts cautioned that the rally might be overly optimistic. Pangestu, who founded Barito Pacific in 1979, continues to navigate scrutiny around Indonesia’s concentrated corporate ownership structures.