Jakarta, Indonesia – September 28, โค2025 – Indonesian businessman Haji Isam, whose wealth is estimated at Rp 101 trillion โข(approximately $6.4โข billion USD),hasโข not been โincluded in the latest Forbes โlist of the โคworld’s richest individuals,sparking questionsโค about theโฃ methodology used to compileโฃ the โrankings. Despite possessing substantial assets,โ Isam’s exclusion highlights the specific โฃcriteria Forbes employs, primarily focusing on ownership in publicly traded โฃcompanies.
Forbes’ โฃwealth โคcalculations are โlargely based on the value ofโข shares inโ public or registered companiesโ listed on stockโ markets.โข Haji Isam’s fortune is primarily derived fromโค privately held assets, notablyโ his extensive โขholdings in coal mining through PT Harum Energy Tbk and othre ventures, which do not fit the primary valuation model usedโ by โขthe publication. this โขdistinction explains why individualsโค with important wealth tied to private enterprises may โฃnot appear on the Forbesโ list, even exceeding โthe net worth of some listedโ billionaires.
According to CNBCโฃ Indonesia, Haji Isam’s โขwealth is largely concentrated in privately held โขassets. While PT Harum Energy Tbk is publicly listed, the โmajority of his holdings extend beyondโค publicly traded stock. Forbes prioritizes quantifiable stock market valuationsโ when determining netโ worth, makingโข it challenging to accuratelyโข assess the value of privatelyโข owned โcompanies.
The Forbes methodology relies on โคpublicly available information and,were necessary,conservative estimates.โ Determining the precise value of private โขassets requires complex valuations that are often โฃsubject to interpretation andโ limited transparency. This approach ensures aโ degree โขof comparability across theโค list, even if it means excluding individuals whose wealth is primarily tied to non-publicly traded assets.
