4 richest Indonesians add $6B to wealth in a month

In a single month, Indonesia's four wealthiest individuals saw their fortunes soar by a combined $6 billion, according to Forbes data. The top beneficiary was Low Tuck Kwong, the country's richest man, whose net worth surged $4 billion to reach $20.7 billion. Bayan Resources, the company he co-owns, saw its shares climb 27% in the month, bringing it closer to its year-start level.

The firm reported robust second-quarter earnings, with revenue up 26% year-on-year to $918.5 million and net income increasing 67% to $219.5 million. Low is reportedly in talks with potential buyers, including Andi Syamsuddin Arsyad, to sell his 62% stake in the company.

Second on the list is Prajogo Pangestu, who saw his wealth increase by nearly $1 billion to $16.7 billion. As the chairman of Barito Pacific, his holdings in the petrochemicals, energy, and infrastructure giant saw shares rise 5% over the month. Barito Renewables, the renewable-energy arm of the company, reported a 29% year-on-year increase in net profit during the first half of the year.

Robert Budi Hartono, the third-richest Indonesian, added $700 million to his fortune, bringing his net worth to $16.3 billion. He and his brother control Bank Central Asia, where the bank's net profit rose 1.8% to 29.5 trillion rupiah in the first half. The bank's total loans reached 1 quadrillion rupiah for the first time, up 8% by June-end, managing over 1,200 branches nationwide.

Indofood Sukses Makmur, the flagship company of tycoon Anthoni Salim, the fourth wealthiest Indonesian, saw its shares rise 6% over the month. The company's net profit increased 7% year-on-year to 6.1 trillion rupiah. The Indonesian stock market rebounded in August, with the IDX Composite adding 4.6% following a 10.5% gain in July.