What is Prajogo Pangestu’s Net Worth?
Prajogo Pangestu, an Indonesian business magnate and investor, has an estimated net worth of $49.97 billion. The bulk of his fortune stems from his stakes in several key companies.
He holds significant ownership in PT Barito Pacific Tbk, a diversified conglomerate, and Barito Renewables Energy, a major player in the geothermal energy sector.
His investments in these companies have proven to be particularly lucrative, with Barito Renewables Energy experiencing a substantial surge in stock price following its listing on the Indonesia Stock Exchange in October 2023.
Here’s the breakdown of Prajogo Pangestu’s net worth:
Name: | Prajogo Pangestu |
Net Worth: | $49.97 billion |
Date of Birth: | May 13, 1944 |
Profession: | Businessman |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life
Born on May 13, 1944, in Bengkayang, West Kalimantan, to a Hakka family from Guangdong, China, Pangestu’s early life was marked by financial hardship. His father worked as a rubber tapper, which limited the family’s resources and only allowed Pangestu to complete junior high school.
Despite these early challenges, Pangestu’s entrepreneurial spirit and work ethic were evident from a young age. After moving to Jakarta in 1965, he started working as an angkot (public minivan) driver.
Business Career
In 1970, Pangestu joined the Djajanti Group, a timber company. His talent and dedication quickly became apparent, and by 1976, he had risen to the position of general manager at PT Nusantara, a subsidiary of Djajanti.
In 1977, Pangestu took a significant risk by leaving Djajanti to start his own business. This decision proved to be the foundation of his future wealth. He founded CV Pacific Lumber Coy, which later evolved into Barito Pacific Timber. By 1993, PT Barito Pacific Timber Tbk had become the largest company on the Jakarta Stock Exchange, marking Pangestu’s first major success in wealth accumulation.
Pangestu’s business acumen led him to diversify his interests beyond timber. In 2007, he renamed the company to PT Barito Pacific Tbk, reflecting its expanded scope. A key move in building his fortune came when Barito Pacific acquired a controlling stake in Chandra Asri Pacific, Indonesia’s largest petrochemical producer.
The most significant boost to Pangestu’s net worth came from his investments in the energy sector. He gained full control of Star Energy, a major player in geothermal energy, through a strategic acquisition in March 2022. This move, along with the success of Barito Renewables Energy, which went public in October 2023, led to a dramatic increase in his wealth.
Pangestu’s net worth has seen remarkable growth in recent years. In 2023, his fortune was estimated at $5.30 billion, but by June 2024, it had skyrocketed to $49.97 billion, representing an increase of $44.67 billion in just one year. This surge has propelled him to the 27th position globally among billionaires and secured his place as Indonesia’s richest person.
Personal life
Pangestu’s family plays a role in managing his vast fortune. His son, Agus Salim Pangestu, serves as the President Director of PT Barito Pacific Tbk, one of the key companies contributing to Prajogo’s wealth.
Despite his immense wealth, Pangestu is known for his relatively modest lifestyle compared to other billionaires. He reportedly prefers to maintain a low-key presence and does not engage in ostentatious displays of wealth.
Pangestu’s philanthropic activities, while not widely publicized, are noteworthy. In 2020, he made headlines when he donated 1 trillion rupiah (approximately $62 million at the time) to support Indonesia’s fight against the COVID-19 pandemic.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
