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Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Forbes Indonesia reported that the 50 people and families on its 2022 Indonesia’s 50 Richest list had a combined estimated net worth of $180 billion. That was 11% more than the $162 billion reported for the prior year. These are figures tied to the 2022 ranking, not current wealth estimates.
What the $180 billion figure measures
The $180 billion is Forbes Indonesia’s reported combined wealth for the 50 entries on its 2022 list. In its announcement, Forbes said: “Their collective wealth rose 11% to a record $180 billion, up from $162 billion last year.” The figure represents estimated net worth in aggregate—not income earned during the year, cash held in accounts, or Indonesia’s national wealth. Forbes Indonesia’s 2022 announcement described the total as a record.
| Forbes list year | Reported combined wealth | Context |
|---|---|---|
| 2021 | $162 billion | Prior-year comparison cited in the 2022 announcement |
| 2022 | $180 billion | 11% increase; described by Forbes Indonesia as a record |
A later Forbes announcement also compared its 2023 total with $180 billion “a year ago,” providing a further historical reference to the 2022 figure. Forbes’s 2023 Indonesia list announcement
Who led the 2022 list?
The Hartono brothers remained at No. 1, while coal magnate Low Tuck Kwong rose to No. 2. Forbes Indonesia reported these fortunes as follows:
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| Rank or change | Name | Reported 2022 fortune | What Forbes said |
|---|---|---|---|
| No. 1 | R. Budi and Michael Hartono | $47.7 billion | Up $5.1 billion from a year earlier |
| No. 2 | Low Tuck Kwong | $12.1 billion | His wealth had risen nearly fivefold |
Forbes said 22 tycoons on the list increased their net worth. The complete ranking was announced as available on Forbes.com and in the December issues of Forbes Indonesia; the Forbes Asia December 2022 issue also featured Indonesia’s 50 Richest.
What Forbes attributed the increase to
Forbes Indonesia linked the overall gains in part to high global prices for Indonesia’s commodity exports. It also noted that economic growth momentum could be curbed by accelerated inflation. Those were Forbes’s explanations and outlook at the time of publication, not independently established causal findings or a statement of what ultimately happened to growth.
Low Tuck Kwong’s coal-related rise
Forbes connected Low’s climb to higher coal prices during the global energy crisis and soaring shares of Bayan Resources. The announcement also reported that Indonesia’s benchmark stock index had risen 8% since Forbes last measured the fortunes. That 8% figure uses Forbes’s own stated time frame; it should not be read as an annual return.
The Hartonos and Blibli’s IPO
Forbes linked part of the Hartono brothers’ rise to the November IPO of Global Digital Niaga, the parent of e-commerce company Blibli. According to the Forbes Indonesia post, the offering raised 8 trillion rupiah, reported as $510 million, and was Indonesia’s second-largest IPO of the year.
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How to read this historical ranking
Forbes’s announcement supplied the headline totals, selected fortunes, and contemporaneous economic context, but it did not establish a detailed valuation methodology or the exact valuation cut-off for each fortune. The listed amounts therefore should be cited as Forbes’s estimates for its 2022 ranking, without inferring a specific measurement date or treating the totals as audited cash balances.
The same announcement cited expected Indonesian economic growth of 5.3% in 2022, following 3.7% in 2021. The 5.3% figure was a forecast presented in the 2022 post, not a verified final growth result. Katadata’s report on the 2022 Forbes list provides secondary coverage of the ranking.
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