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Indonesia's richest tycoons lose $57B amid stock market downgrade warnings

Indonesia's richest tycoons lose $57B amid stock market downgrade warnings

Five of the richest Indonesian tycoons and their family members have lost almost US$57 billion in combined net worth since January as the country’s stock market faces a potential downgrade by MSCI.
Indonesia's 3 richest tycoons lose $5.9B in wealth amid record stock rout

Indonesia's 3 richest tycoons lose $5.9B in wealth amid record stock rout

Coal billionaire Low Tuck Kwong loses a third of his fortune after selling Bayan Resources stake

Coal billionaire Low Tuck Kwong loses a third of his fortune after selling Bayan Resources stake

Singapore-born billionaire Low Tuck Kwong, daughter complete sale of 30.25% stake in Indonesia-based Bayan Resources to local tycoon

Singapore-born billionaire Low Tuck Kwong, daughter complete sale of 30.25% stake in Indonesia-based Bayan Resources to local tycoon

Bayan Resources founder Low Tuck Kwong and his daughter have sold a combined 30.25% stake in the Indonesian coal mining firm, up from the initially agreed 30%, to local tycoon Haji Isam's Jhonlin Baratama.
October 11, 2026 | 03:17 pm PT
Singapore-born billionaire Low Tuck Kwong's Indonesian coal miner lifts force majeure after quota revision approval, 30% stake sale

Singapore-born billionaire Low Tuck Kwong's Indonesian coal miner lifts force majeure after quota revision approval, 30% stake sale

Indonesia-based PT Bayan Resources has lifted the force majeure on its coal supply obligations following the approval of its subsidiaries' mining quota revisions, a week after its billionaire founder Low Tuck Kwong agreed to sell a 30% stake.
September 24, 2026 | 08:18 pm PT
Coal billionaire Low Tuck Kwong loses spot as Indonesia's richest person after wealth drops $2.5B

Coal billionaire Low Tuck Kwong loses spot as Indonesia's richest person after wealth drops $2.5B

Coal tycoon Low Tuck Kwong dropped to third place among Indonesia's richest individuals after losing US$2.5 billion in net worth earlier this week.
September 16, 2026 | 06:45 pm PT
Singapore-born billionaire Low Tuck Kwong's Indonesian mining firm Bayan Resources declares force majeure on coal supply

Singapore-born billionaire Low Tuck Kwong's Indonesian mining firm Bayan Resources declares force majeure on coal supply

Indonesian coal miner PT Bayan Resources, founded by Singapore-born billionaire Low Tuck Kwong, and ​three of its subsidiaries have declared force ‌majeure on their coal supply obligations.
September 14, 2026 | 08:09 pm PT
Singapore-born billionaire Low Tuck Kwong reportedly negotiating sale of majority stake in flagship coal mining firm

Singapore-born billionaire Low Tuck Kwong reportedly negotiating sale of majority stake in flagship coal mining firm

Singapore-born Indonesian billionaire Low Tuck Kwong is reportedly negotiating the sale of a majority stake in his flagship coal mining firm PT Bayan Resources, with potential buyers including a rival tycoon.
August 26, 2026 | 08:55 pm PT
MSCI cuts stocks linked to Indonesia's richest billionaires from its index

MSCI cuts stocks linked to Indonesia's richest billionaires from its index

Global index provider MSCI has said it will remove six companies, many of which are linked to Indonesia’s richest billionaires, from its index at the end of May.
May 13, 2026 | 08:57 pm PT
Indonesia’s richest billionaire Prajogo Pangestu sells company stakes amid stricter ownership rules

Indonesia’s richest billionaire Prajogo Pangestu sells company stakes amid stricter ownership rules

Prajogo Pangestu, Indonesia’s richest man, has started selling small stakes in his listed firms as a new stock market regulation has doubled the minimum free float of tradable shares.
April 14, 2026 | 03:03 pm PT
Singapore-born billionaire Low Tuck Kwong buys $386K painting by former Indonesian president

Singapore-born billionaire Low Tuck Kwong buys $386K painting by former Indonesian president

Singapore-born Indonesian billionaire Low Tuck Kwong, often dubbed the “coal king,” has purchased a painting by former Indonesia President Susilo Bambang Yudhoyono for 6.5 billion rupiah (US$386,330).
February 24, 2026 | 08:56 pm PT
Indonesia’s top 3 billionaires: How has their wealth changed in 2025?

Indonesia’s top 3 billionaires: How has their wealth changed in 2025?

The combined net worth of the three richest Indonesian billionaires soared $13.5 billion this year, but only the richest man in the country posted gains.
December 31, 2025 | 12:18 am PT
3 Southeast Asian billionaires make Forbes Asia’s philanthropy heroes list

3 Southeast Asian billionaires make Forbes Asia’s philanthropy heroes list

Three Southeast Asian billionaires, based in Malaysia, Indonesia and Singapore, have been named on Forbes Asia’s list of 10 individuals and families in Asia-Pacific recognized for their philanthropic contributions.
December 11, 2025 | 08:11 pm PT
From energy to property: How Southeast Asia’s top 5 billionaires made their fortune

From energy to property: How Southeast Asia’s top 5 billionaires made their fortune

The five richest billionaires in Southeast Asia, who collectively boast US$132.6 billion in net worth, built their business empires across various sectors, including coal mining, commodities and real estate.
November 23, 2025 | 04:00 pm PT
How Singapore-born coal tycoon Low Tuck Kwong becomes Indonesia's 2nd-richest billionaire

How Singapore-born coal tycoon Low Tuck Kwong becomes Indonesia's 2nd-richest billionaire

Singapore-born tycoon Low Tuck Kwong built a US$27.9 billion fortune by investing in his coal mining business even as experts repeatedly forecast that demand for the fuel would taper off.
February 11, 2025 | 03:00 pm PT
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