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December 2017 - Forbes Indonesia

One common question we get at Forbes Indonesia is: what's the secret to being rich? This month's celebrated annual ranking of the 50 richest persons in the country may contain some insights. Looking through the names, the good news may be that there is no secret to getting rich. Take a look into the pages of this issue at the source of wealth for the 50 richest Indonesians and there's opportunity in many places: banking, tobacco, property, instant noodles, petrochemicals, media and pharmaceuticals. Each tycoon on the list found a way to create value in whatever industry they chose. What's notable this year is that total net wealth for the 50 broke through the $100 billion barrier for the first time, now at $126 billion, up 27% from last year. The average listee has $2.5 billion, and the poorest among them is worth $450 million (The Ning King).

The big story this year is that the rich truly are getting richer. The number one wealthiest, the Hartono brothers, are each worth about $16 billion, nearly double from their $8.6 billion net worth last year -- the ninth year in a row that the two have sat at the top of the list. The two of them alone make up about one quarter of the wealth of the entire list. Overall, the number of billionaires in the country, 32, is the same as last year. In the larger context of the national economy, now about $1 trillion, these 50 control wealth that represents about 13% of the country's GDP. They wield enormous economic power, which is one of the reasons why this magazine tracks them on an annual basis. Delving into their stories almost always reveals some larger lessons about the country and its economic status.

For example, this issue has a profile of Erick Thohir, the brother of billionaire Garibaldi "Boy" Thohir, who is managing the upcoming Asia Games. It is a window into the sports business and the national aspirations of Indonesia to demonstrate it can host a world-class event. Such insights can be found throughout the list, as the wealth of the richest citizens is also, in a microcosm, an illustrative overview of the economy.

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