JAKARTA - Low Tuck Kwong occupies the top position of Indonesia's richest man of forbes.com’s version in real time as of April 2023. The owner of the Bayan Group passed R Budi Hartono who occupied the runner-up position as 'crazy rich'.

Quoted from forbes.com on (12/4), Low Tuck Kwong pocketed a wealth of US$ 28 billion from the coal mining business via PT Bayan Resources Tbk (BYAN). The Russia-Ukraine pandemic and conflict pushed up coal prices on the global market, which had a direct impact on Low Tuck Kwong's business. In that company, its shares are recorded at 60.98% valued at IDR 425.19 trillion. The company, founded in 2004, now has 2,876 employees.

He followed in the footsteps of his father who owned a construction company in Singapore. The figure, who is now 74 years old, moved to Indonesia in 1972 and started his own business as a mining contractor in 1997.

The wealth value of this Singapore-born figure has jumped from US$ 12.1 billion in 2022. At that time, Low Tuck Kwong was in the runner-up position of the richest person in Indonesia under R. Budi Hartono, owner of the Djarum Group. (LK/LM)