As the IHSG Plummets, Prajogo Pangestu Becomes Even Richer

TYCOON - JAKARTA. JAKARTA. Amid a sharp decline in the Composite Stock Price Index (IHSG) on Tuesday (16/4), the wealth of Indonesia's richest man, Prajogo Pangestu, has surprisingly increased.

The IHSG recorded a plunge of 1.68%, losing 122 points to level 7,164.80 at the close of trading.

According to data from Forbes Real Time Billionaires on Tuesday (16/4/2024), Prajogo Pangestu is among the conglomerates whose wealth increased the most in the world on Tuesday compared to other billionaires.

Of the five conglomerates whose wealth increased the most, two are from Indonesia, namely Prajogo Pangestu, which increased by US$ 3 billion or about Rp 48.3 trillion (exchange rate Rp 16.170), and Low Tuck Kwong, which increased by US$ 356 million or about IDR 5.76 trillion.

Meanwhile, other wealthy individuals whose wealth increased include Facebook boss, Mark Zuckerberg, who increased by US$ 683 million, Jensen Huang, who increased by US$ 604 million, and He Xiangjian, who increased by US$ 390 million.

On Tuesday, Prajogo Pangestu ranked 26th richest in the world with a net worth of US$ 51.2 billion or about Rp 827 trillion, an increase of 6.18% equivalent to US$ 3 billion. This wealth increase is due to the surge in shares of Prajogo Pangestu's companies on the Indonesia Stock Exchange on Tuesday.

For instance, shares of PT Barito Renewables Energy Tbk (BREN) rose 7.94% to Rp 7,475 per share. BREN's market cap broke through Rp 1,000 trillion and ranked second in the largest market cap on the Indonesia Stock Exchange after PT Bank Central Asia Tbk (BBCA) which is Rp 1,168.03 trillion.

Shares of PT Petrindo Jaya Kreasi Tbk (CUAN) also strengthened by 4.15% to Rp 5,650 per share. Followed by shares of PT Chandra Asri Pacific Tbk (TPIA) which rose 1.76% to Rp 7,225 per share and PT Barito Pacific Tbk (BRPT) rose 0.50% to Rp 1,010 per share.

Here are the 10 richest people in Indonesia as of Tuesday (16/4)

1. Prajogo Pangestu US$ 51.2 billion
2. Low Tuck Kwong US$ 26.5 billion
3. R.Budi Hartono US$ 24.5 billion
4. Michael Hartono US$ 23.5 billion
5. Sri Prakash Lohia US$ 8.4 billion
6. Agoes Projosasmito US$ 6.1 billion
7. Chairul Tanjung US$ 5.3 billion
8. Tahir & family US$ 5.1 billion
9. Dewi Kam US$ 4.3 billion
10. Lim Hariyanto Wijaya Sarwono US$ 4.2 billion