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# 444 Anthoni Salim $5.74B

Random fact: Fled to Singapore when mobs burned Jakarta home during 1998 crisis.

Overview

Salim is chairman of Salim Group, a closely-held conglomerate in Indonesia. The Jakarta-based group owns investment company First Pacific and has a stake in Indofood Sukses Makmur, Indonesia's biggest instant-noodle maker. He also has stakes in Gallant Venture, Bank Ina and retailer Indoritel Makmur.

As of :
Last change -$69.8M ( -1.2%)
YTD change +$218M ( +4.0%)
Biggest asset DNET IJ Equity
Country / Region Indonesia
Age 73
Industry Diversified
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Anthoni Salim's net worth of $5.74B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Salim's fortune is derived from stakes in publicly traded businesses, including Hong Kong-based investment company First Pacific and Indoritel Makmur Internasional, an investment holding company focusing on the consumer and retail industries in Indonesia.  

He's credited with 45% of First Pacific, which has a stake in Indofood Sukses Makmur, Indonesia's biggest instant-noodle maker. Salim controls the stake directly and through holding companies, including Hong Kong-based First Pacific Investments, according to the company's 2021 annual report.

He also owns half of Indoritel Makmur, whose investments include Indomaret, an Indonesian minimarket operator, and Fastood Indonesia, which has exclusive rights to operate KFC restaurants.

Salim's other public assets include a 66% stake in Gallant Venture, which develops industrial parks and resorts in Indonesia, as well as a 25% interest in Bank Ina.

He bought out vegetable processor China Minzhong Food in 2016, in a deal that valued the company at S$786 million, before delisting it from the Singapore stock exchange. The company is valued here based on the transaction price.

Salim didn't respond to emailed requests for a comment on his net worth.

Biography

Birthdate:
Family: Unmarried, 3 children

Salim is the youngest son of Liem Sioe Liong, who immigrated from China to Indonesia in 1937. His father, who adopted an Indonesian name, Soedono Salim, built the family business after winning licenses, franchises and concessions from former President Suharto, including a monopoly to import, mill and distribute flour.

Salim, born in the central Javanese town of Kudus, joined the family business in 1972 after college. Within two decades, Liem named his son chief executive officer of Salim Group, leading to its transformation into a conglomerate from a trading house. Before the onset of the Asian financial crisis in 1997, Salim Group owned Indonesia's largest private bank, the country's biggest cement plant, flour mills and businesses in car manufacturing, TV broadcasting and petrochemicals. After years of heavy borrowing in dollars, the rupiah's plunge during the crisis shattered the family empire.

As austerity measures sparked riots and public anger mounted against politically connected tycoons in 1998, mobs burned and looted Salim's family home in Jakarta. Salim and his father fled to Singapore. A month after Suharto's ouster, he returned to Jakarta and ceded control of Bank Central Asia to the government. Salim also handed over stakes in dozens of companies and sold other assets to pay off $5 billion the group owed to the government for its bailout of the bank.

In 1999, Salim Group sold 40 percent of Indofood, Indonesia's biggest maker of instant noodles, to First Pacific, the Hong Kong-based investment company it controls. The group settled its debt almost five years later. 

Salim's father died in Singapore at age 95 in 2012. A year later, the group transformed Internet service provider Dyviacom Intrabumi into a consumer company. It sold its shares in Indomaret, Indonesia's largest minimarket operator, to Dyviacom, along with its stakes in Fastfood Indonesia, which has the rights to operate KFC restaurants in Indonesia, and bread maker Nippon Indosari Corpindo. Salim then took a controlling stake in Dyviacom, now known as Indoritel Makmur, when it raised money through a rights offering to acquire the businesses.

Milestones
  • 1949 Salim is born in the central Javanese town of Kudus, Indonesia.
  • 1972 Joins the family business after college.
  • 1981 Starts First Pacific in Hong Kong as a finance company.
  • 1994 Indofood sells shares in a Jakarta initial public offering.
  • 1998 Government takes over Bank Central Asia after a run on deposits.
  • 1998 Flees to Singapore after mobs raid his family's home in Jakarta.
  • 2006 Singapore-based Gallant Venture sells shares for the first time.
  • 2012 Father dies in Singapore at age 95.
  • 2013 Consolidates consumer businesses under Indoritel Makmur.
  • 2015 Raises $1 billion for acquisitions through consortium of private equity firms.