So rich are these RI people, they can buy thousands of Bugattis!

Jakarta, CNBC Indonesia – The richest man in Indonesia according to Forbes, Low Tuck Kwong is known to hold shares in several companies. Its share ownership capitalization is equivalent to IDR 378.02 trillion, it can buy thousands of the most expensive Bugatti cars in the world.

Quoting the Forbes Real Time Billionaire website as of today, Tuesday (22/2/2023), Low Tuck Kwong is the number one richest person in Indonesia. He defeated the Hartono brothers who own the Djarum Group. His wealth reaches US $ 25.7 billion or the equivalent of Rp. 390.6 trillion.

Low Tuck Kwong is known as the king of coal. This Singapore-born man is the founder of Bayan Resources, a coal mining company in Indonesia.

Apart from owning shares in PT Bayan Resources Tbk, Low Tuck Kwong also holds several shares in other issuers. Following are some of the issuers owned by Low Tuck Kwong with ownership above 5%.

Bayan Resources (BYAN)

Low Tuck Kwong is the founder and president director of the fourth largest coal producer in Indonesia, Bayan Resources. According to data from the Indonesian Central Securities Depository (KSEI), quoted on Wednesday (22/2/2023), Kwong’s ownership is around 60.97%.

The man who won the title of the 54th richest person in the world has a share ownership of around 20.3 billion in BYAN. Referring to BYAN’s share price as of 9.04 WIB this morning, which is Rp. 18,575, then he owns Rp. 377.5 trillion of shares from this issuer.

Samindo Resources (MYOH)

Still referring to data from KSEI, Low Tuck Kwong’s share ownership in mining service provider issuer PT Samindo Resources Tbk amounts to 312.77 million, or the equivalent of 14.18%.

If converted to rupiah, the market capitalization of this issuer will reach IDR 475.4 billion. With reference to the price per share, MYOH is at Rp. 1,520 this morning.

Voxel Electric (VOKS)

Meanwhile, Low Tuck Kwong also owns a majority of shares in the cable industry company PT Voksel Electric Tbk or VOKS of 329.33 million or the equivalent of 7.93% ownership of the total outstanding shares.

When referring to the VOKS price per morning today, which is IDR 158 per piece, the total wealth of Low Tuck Kwong contributed by this share ownership is around IDR 52.03 billion.

When calculated, the total capitalization of Low Tuck Kwong in the capital market is equivalent to IDR 378.02 trillion. If you do the math, this much money can buy thousands of the most expensive Bugatti cars in the world.

According to the ranking of the most expensive cars in the world, the Wealthy Gorilla 2022 version, the Bugatti La Boiture Noire is the most expensive car in the world. This car is priced at US $ 18.7 million or the equivalent of Rp. 291.72 billion.

If Low Tuck Kwong’s wealth from the capital market bought all of the most expensive cars, then he could buy around 1,295 of the Bugatti La Boiture Noire cars in cash.

(RCI/dhf)