The Figure of Conglomerate Sukanto Tanoto Who Bought a Luxury Hotel in China, This Is His Wealth

The Figure of Tycoon Sukanto Tanoto Who Bought a Luxury Hotel in China, This is His Wealth

"Dream - The conglomerate Sukanto Tanoto has purchased a luxury hotel in Shanghai, China, through its company, Pacific Eagle Real Estate. The luxury hotel in question is Wanda Reign on the Bund. Although the purchase transaction amount has not been disclosed, the real estate website Mingtiandi reported that Pacific Eagle paid as much as US$240 million or around Rp3.7 trillion."

The translation of "Siapa Sukanto Tanoto?" to English is "Who is Sukanto Tanoto?"

"Sukanto bought it from the Chinese developer, Dalian Wanda Group (Wanda Group). So, who is Sukanto Tanoto? Until he could buy one of the prestigious hotels in China."

The translation of "Kekayaan Sukanto Tanoto" to English is "The Wealth of Sukanto Tanoto."

"According to Forbes, Sukanto Tanoto is the owner of the Royal Golden Eagle (RGE) business group. This 74-year-old man has a net worth of US$3.15 billion or approximately Rp48.9 trillion (exchange rate Rp15,543)."

The translation of "Orang Terkaya ke-20 di RI Tahun 2023" to English is "20th Richest Person in Indonesia Year 2023".

"With that wealth, Sukanto ranked No. 20 in the list of 50 Richest People in Indonesia published by Forbes in December 2023."

The Figure of Conglomerate Sukanto Tanoto Who Bought a Luxury Hotel in China, This Is His Wealth

The translation of "Awal Mula Bisnis" to English is "The Beginning of Business".

"Sukanto started his business in 1967 as a supplier of spare parts for the oil and construction industries. Then in 1973, he founded Royal Golden Eagle (RGE), which operates in the plywood business. His business has grown into a global company with more than 60,000 employees."

RGE then expanded into various other fields such as pulp and paper (APRIL and Asia Symbol), palm oil (Asian Agri and Apical), viscose fiber (Sateri and Asia Pacific Rayon), specialty cellulose (Bracell), as well as energy resource development (Pacific Oil & Gas). This company also expanded its offices in Jakarta, Singapore, Hong Kong, Beijing, and Nanjing. Not only that, Sukanto also established the Tanoto Foundation in 1981, which is a philanthropic organization.

The translation of "Daftar Properti Luar Negeri yang Dibeli" to English is "List of Foreign Properties Purchased."

"Wanda Reign on the Bund is not the first overseas property purchased by Sukanto. Pacific Eagle, which is part of the RGE group, in 2022, purchased the Tanglin Mall in the Orchard Road shopping area of Singapore for US$645 million. The plans to redevelop the property are still not completed."

"Besides property investment in Singapore, Pacific Eagle, in collaboration with China Resources Capital, is building the Pacific Eagle Center, a 21-story office tower in Beijing. The company is also developing Prospect Park, a business area consisting of 19 office blocks in the Chinese capital. Additionally, there is a residential development in Rizhao City in the southeastern province of Shandong, China. Outside of Asia, Pacific Eagle has commercial properties in London and Munich."

"Besides diving into the real estate world, Sukanto has also expanded into the tissue manufacturing business. Last month, RGE offered to purchase Vinda International Holdings, the largest tissue manufacturer in China, for US$3.3 billion. This deal comes after the acquisition of OL Papeis from Brazil by RGE's unit, Bracel, in January 2023. The group invested US$500 million to build tissue paper and pulp facilities in Brazil."

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