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Desember 2018 - FORBES Indonesia

About two decades since the late Chinese leader "Deng Xiaoping" is supposed to have said "to be rich is glorious", China -- as per "UBS/PwC Billionaires Insights" recently -- has now 373 billionaires with a combined wealth of $1.12 trillion. Not surprisingly, as between 2016 and 2018 the country produced 50 unicorns. In fact, according to the same report, this year China produced an average of two billionaires every week.

It's not clear if wealthy Indonesians as depicted in this issue indeed feel or see themselves as glorious. What is clear is that they have managed their companies well to the point of helping the national economy grow by around 5%. And it is also clear is that while rich Indonesians earn enormous amounts of money, they are also into 'giving'. Many of them have set up foundations and channel funds to social causes, such as providing scholarships and medical assistance to the less privileged. Others, meanwhile, privately make donations to help the plight of the needy.

But a discussion on wealthy Indonesians tends to be shallow and incomplete if one neglects to take into consideration -- as per international antipoverty NGO Oxfam last year -- that the wealth of the four richest Indonesians is around equal to that of the bottom 100 million of their compatriots. By the NGO's estimate, in 2016 the wealthiest 1% of the Indonesian population owned half of the people's total wealth. The report went on to say that almost 100 million Indonesians still live on less than $3.10 a day, which the World Bank defines as the moderate poverty line. As such, by virtue of their enormous wealth and strong entrepreneurship spirit, the rich are called on to play a role beyond merely amassing wealth. Admittedly, some have done so but not enough to make a difference.

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