Prajogo Pangestu Becomes the Richest Person in Indonesia 2024, Surpassing the Hartono Brothers

"Prajogo Pangestu becomes the richest person in Indonesia 2024, surpassing the Hartono brothers."

"Prajogo Pangestu is once again the richest person in Indonesia according to the Forbes list at the beginning of 2024, after his wealth saw an increase of 0.27 percent. Based on information from the Forbes Real-Time Billionaires list on Thursday (4/1/2023), Prajogo Pangestu's net worth increased by USD 147 million, bringing the total to USD 55.6 billion or around IDR 863.3 trillion."

to English is

"Prajogo Pangestu started a timber sales business in the late 1970s. He founded the company, Barito Pacific Timber, in 1993 and changed its name to Barito Pacific after diversifying into various business sectors. In 2007, Pangestu acquired 70 percent of the shares of the petrochemical company Chandra Asri and four years later completed a merger with Tri Polyta Indonesia, forming the largest integrated petrochemical producer in Indonesia."

In 2021, Thaioil purchased 15 percent of Chandra Asri's shares. Prajogo himself has prepared the next generation to take over. His eldest son, Agus Salim, now serves as the President Director of Barito Pacific. Meanwhile, his daughter, Nancy Pangestu Tabardel, manages the family office as well as Green Era, outside of Singapore. Prajogo Pangestu's youngest son, Baritono, serves as the Vice President Director of Commercial at Chandra Asri.

"Barito Renewables Energy"

"Most of the profit successfully obtained by Prajogo Pangestu comes from the increase in the stock value of Barito Renewables Energy, which is listed on the Indonesia Stock Exchange in 2023."

The company's stock has increased fivefold since then, with a 25 percent spike recorded in a single trading day last week.

"This situation caused a surge in the flow and resulted in a temporary suspension of the company's stock trading last Friday to control price volatility. Barito Renewables Energy is the parent company of Star Energy Geothermal Group, which is the largest geothermal producer in Indonesia with a capacity of 886 megawatts."

"Star Energy operates three geothermal power generation projects in West Java province and has exploration licenses in several areas of North Maluku and Lampung provinces. According to data from the research firm ThinkGeoEnergy, Indonesia ranks second as the largest geothermal energy producer in the world after the United States, with an installed capacity of geothermal power plants of 2,356 megawatts at the end of last year."

"In the previous year, Green Era, a special entity of the Prajogo Pangestu family office based in Singapore, acquired Star Energy by purchasing one-third of BCPG Thailand's shares worth USD 440 million."
"The remaining shares are currently owned by Barito Pacific, the parent company in which Prajogo Pangestu holds the majority ownership."

"Source: Liputan6"

The translation of "Profit dari Bisnis Emas Hitam" to English is "Profit from the Black Gold Business".

"Not only in the energy sector, Prajogo Pangestu has also recently experienced profits from his investments in the coal mining sector. The shares of his coal mining company, Petrindo Jaya Kreasi, have skyrocketed 30 times since the initial public offering (IPO) in March 2023. Just a week after the IPO, the stock exchange issued a warning regarding unusual activity in its stock trading."

The translation of "Alami Kenaikan 15%" to English is "Experience an Increase of 15%".

"Last week, the trading of this company's shares was even halted after experiencing an increase of 15 percent, triggered by news that the company had acquired 34 percent of the shares from the coal contractor, Petrosea."

"Recently, Prajogo Pangestu also successfully acquired 100 percent of the shares of Multi Tambangjaya Utama, a coal mine owned by Indika Energy."

Prajogo Pangestu Becomes the Richest Person in Indonesia 2024, Surpassing the Hartono Brothers

"Currently, the company's shares have resumed trading."

Perumahan

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