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December 2016 - Forbes Indonesia

This magazine always ends the year with a bang--the annual list of the 50 richest Indonesians in December, the best-selling issue. And why not? Everyone is curious about how the richest got that way, and what they are doing. These 50 have an outsized influence over the economy, owning and running such major institutions as BCA bank, and the Salim and Sinar Mas groups. They employ millions both directly and indirectly through their vast collections of enterprises. While in the U.S., it's common to refer to the 1%, meaning the 1% richest in the country, in Indonesia, it's more like the 10%. At $99 billion, these 50 collectively are worth about 10% of the national GDP (now somewhere around $1 trillion).

Overall, it?s been a good year for these entrepreneurs and tycoons. The stock market is up, and the economy has recovered, marching towards 5% or above for the year. There's renewed confidence about President Joko "Jokowi" Widodo's capability to manage the challenges of country. He's delivering on his promise to be a working president, preferring to get things accomplished rather than talk about his accomplishments. To be sure, the president would also like to get growth to 7%, which is a stretch goal but worthy of the effort.

It's also been a good year for Forbes Indonesia, ending the year on several high notes. A trifecta of signature events happened in the final quarter, starting with the Annual Private Dinner in September, featuring special guest Steve Forbes, who flew in from the U.S. to celebrate the 99th anniversary of Forbes. In October, the annual Best of the Best event has become the biggest and most successful event of the year for this magazine. Finally, bridging November and December was the annual Forbes Global CEO Conference, held for the first time in 16 years in Jakarta. This conference is the biggest and most prestigious event held worldwide by Forbes each year. It's a wonderful end note for the year and excellent platform to showcase Jakarta to a group of top-level entrepreneurs, executives and tycoons, some of whom may never have been to Jakarta.

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