The Figure Of Indonesia's Youngest Conglomerate, Ciliandra Fangiono And His Wealth
YOGYAKARTA - When it comes to conglomerates, names like the Hartono family, Prajogo Pangestu, and Low Tuck Kwong are definitely familiar. Then did you know who the youngest Indonesian conglomerate is today? He is Ciliandra Fangiono.
The figures of Indonesian billionaires can reach this point generally when they are 60-80 years old. However, this time there is the name Ciliandra Fangiono who appears as a conglomerate with an age of not touching the head of five.
The achievement of Ciliandra Fangiono was also very impressive as Indonesia's youngest conglomerate. So what is the amount of Ciliandra Fangiono's wealth and where did it come from?
Ciliandra Fangiono is the youngest conglomerate in Indonesia with a wealth of US$ 2.35 billion, or around Rp. 36 trillion if calculated at an exchange rate of Rp. 15,500. Currently, he serves as CEO of First Resources, an oil palm company registered in Singapore and owns a plantation in Indonesia.
The palm oil company founded by his father in 1992 owns 200 hectares of plantations in Riau, West Kalimantan, and North Kalimantan. The Ciliandra family owns a majority stake in First Resources.
Currently, Ciliandra Fangiono is ranked 24th on Forbes' list of the richest people in Indonesia at the age of 47. He was first included in Forbes' list of 40 richest Indonesians in 2009, when he was 33 years old, with a wealth of US$ 710 million, or around Rp. 10.8 trillion.
Most of Ciliandra Fangiono's wealth was obtained after his family launched the oil palm company FAP Agri in 2021. Before entering the family business, Ciliandra worked at Merrill Lynch, Singapore, in the investment banking division. This economic graduate from Cambridge University has won the Price Waterhouse Book Prize.
The following are the names of conglomerates in Indonesia who managed to become billionaires when they ended in under 60 years:
Manoj Punjabi is ranked 43rd on the list of the richest people in Indonesia. This 50-year-old film entrepreneur has a wealth of US$1.05 billion. Together with his wife, Shania, and his parents, Manoj founded MD Media. The company developed into a leading film studio registered in Indonesia through MD Pictures.
MD Pictures companies took the floor on the stock exchange in 2018 through an IPO worth US$ 19 million. In October 2021, Chinese technology and entertainment giant Tencent bought 14.6% of the shares in the company. Shania, his wife, currently serves as president commissioner at MD Pictures.
Arini Subianto occupies the 28th position on the list of the richest people in Indonesia at the age of 52. This entrepreneur in the field of mining and palm oil holds a wealth of USD 1.5 billion. After his father, tycoon Benny Subianto, died in 2017, Arini as his eldest daughter took over the millions of dollars worth of business empire.
Arini Subianto is the president director of Persada Capital Investama, the family holding company. He oversees various Persada investments that include the manufacturing sector of wood, palm oil, rubber, and coal. Persada also owns a minority stake in the large coal company Adaro Energy.
Garibaldi Thohir was ranked 15th on the list of the richest people in Indonesia when he was 58 years old. This mining entrepreneur is recorded to have a wealth of US$ 3.45 billion. He serves as CEO and major shareholder in Adaro Energy, one of the largest coal exporters in the world.
In 1997, Garibaldi also founded a motorcycle financing company, namely Wahana Ottomitra Multiartha (WOM Finance). In addition, he owns shares in telecommunications operator Hutchison 3 Indonesia which joined Indosat in January 2022. The Garibaldi family also manages restaurants and owns hotels together.
Jerry Ng was ranked 35th on the list of the richest people in Indonesia when he was 58 years old. This veteran bank is known to have a wealth of US$ 1.2 billion. With more than three decades of experience, he earned his wealth from shares in Bank Jago which he acquired in December 2019.
Bank Jago later transformed into a digital bank that focuses on collaborating with small and medium-sized finanical companies. Prior to that, Jerry Ng had held the top position at Bank Danamon Indonesia and Bank Central Asia. He has also served as the main director of Bank BTPN until February 2019.
Harry Tanoesoedibjo is known as an entrepreneur in the media and real estate sector. He occupies the 39th position on the list of the richest people in Indonesia aged 58 years and a wealth of US$ 1.09 billion. After completing his studies, Hary started a media business and currently still manages more than 60 TV, radio, and newspaper stations.
In 2016, he resigned from the position of CEO of Media Nusantara Citra (MNC) to focus more on politics. Through his registered company, MNC Land, he is currently building resorts in Bali and Java which will be managed by Donald Trump's company. His daughter, Angela Herliani Tanoesoedibjo, now serves as Deputy Minister of Tourism and Creative Economy of Indonesia.
Baca juga:
That's a glimpse of Ciliandra Fangiono as the youngest conglomerate in Indonesia. Ciliandra managed to become a billionaire at the age of 50, faster than other conglomerates who usually turn five and over. Also read the 10 richest people in Indonesia and the world.
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