Prajogo Pangestu

Prajogo Pangestu is a prominent Indonesian businessman known for his significant contribution towards adapting petrochemical and natural resources. Prajogo Pangestu started his timber business in the 1970s and established himself as the chairman and founder of the Barito Pacific Group. He has claimed exceptional vision and leadership in transforming the company from a modest timber business to a diversified conglomerate. Prajogo has systematically succeeded with specific strategic foresight and hands-on entrepreneurial skills that have placed Barito Pacific in a significant position in the Southeast Asian industry. In addition, Prajogo is well known for his philanthropic efforts, which reflect his dedication to increasing economic growth with a strong social impact. 

What is Prajogo Pangestu’s Net Worth?

Forbes states that as of July 2024, Prajogo Pangestu has a net worth of $53.8 billion.

Most of Prajogo Pangestu’s net worth is earned as the founder and chairman of Barito Pacific Group. A major source of its income was the company's large investment in the petrochemical industry, particularly Chandra Asri Petrochemical, the largest integrated petrochemical plant in Indonesia. Prajogo Pangestu holds a 5.06% stake in Chandra Asri Petrochemical and he also owns around 22% of the stake in Barito Renewable Energy.

Moreover, the exploration of geothermal energy by Barito Pacific, along with the investment of subsidiary Star Energy, has also played a significant role in improving Pangestu's financial position. The Indonesian billionaire holds around 71.19% share in PT Barito Pacific Group.

Notably, Mr. Pangestu had a net worth of around $5.3 billion last year and he has been able to multiply his value by almost 10 times. 

Prajogo Pangestu’s claim to fame?

Prajogo Pangestu’s claim to fame mainly indicates the transformation of Barito Pacific Group from the modest business of timber trading into one of the most influential conglomerates in Indonesia. Under his efficient leadership skills, Barito Pacific was able to acquire and invest in the petrochemical industry, which reflects his remarkable contribution to building a strong business empire. 

Prajogo’s ability to expand his business ventures in a competitive market and his success in managing Indonesia's economy helped him become one of the most influential and successful business tycoons. 

What businesses does Prajogo Pangestu own?

Prajogo Pangestu has involved himself with a diverse portfolio of businesses that help him grow the property with attractive earnings. 

• Barito Pacific Group: Pangestu is the chairman and founder of this company. Currently, the business has a revenue of $2.72 billion. Pangestu holds around 71% stake in this company, which achieves a market cap of $6 billion.
• Chandra Asri Petrochemical: In 2023, Prajago also involved himself with Chandra Asri Petrochemical, which has a revenue of $2.5 billion. The company has a market cap of $50.64 billion and Pangestu owns about 5% stake in it.
• Star Energy: Star Energy has dominated Indonesia's geothermal power plants with the installation of Wayang Windu and Salak geothermal power plants, which are Barito Pacific's main source of revenue. Pangestu retains full ownership of the company and it is currently valued at around $440 million.
• Barito Renewable: Barito Renewable has shown a 4.4% year-on-year revenue growth that highlights the profit of Prajogo Pangestu as a 22% stake owner. 

How does Prajogo Pangestu spend his billions?

Prajogo Pangestu uses his billions mainly to develop and diversify his business portfolio, his investment portfolio, and to conduct charity. A portion of his wealth is invested in the Barito Pacific Group, reflecting his particular interest in petrochemicals and renewable energy. These investments helped him build a long-term and sustainable infrastructure for his own investments. 

How many houses does Prajogo Pangestu own? 

There is very little known about Prajogo Pangestu’s real estate properties. 

• Bukit Pasoh Shophouses: In 2018, Prajogo invested nearly $22 million in a couple of Bukit Pasoh shophouses through his family office, ANB Investment. 

The billionaire obviously has many more properties but he hardly ever showcases them. 

How big is Prajogo Pangestu’s car collection?

Prajogo Pangestu is not a car collector, and he uses his vehicles as a mode of transport only. He was photographed in the passenger seat of a BMW E38 a few years ago, but there is no official confirmation whether he actually owns it or not. 

What are the Charitable Contributions of Prajogo Pangestu?

Prajogo Pangestu has associated himself with charitable activities by lending his support to educational and community needs. He is involved in charity work with the main focus of increasing education in Indonesia for the development of future generations. 

• During COVID-19, Prajogo Pangestu has donated around $2 billion to improve medical equipment, such as test kits, PCR systems, and dozens of oxygen therapy kits, in Jakarta.
• Prajogo Pangestu had taken the initiative to donate over 1000 tons of rice to Central Java through its foundation, called the Bakti Barito Foundation.
• As a philanthropist, Prajogo Pangestu founded the Bakti Barito Foundation and Chandra Asari, through which he donates to social and educational programs in Indonesia. 

What’s next for Prajogo Pangestu?

The future plans for Prajogo Pangestu are probably to continue with the expansion and diversification of his companies while focusing on renewable energy. As part of the growing trend of prioritizing the concepts of renewable energy, Pangestu’s Barito Pacific Group decided to invest in projects involving renewable energies. 

However, Prajogo also seeks to expand his business in emerging markets abroad, which clearly shows his aim to establish Barito Pacific as a global business. Based on the previous activities, Pangestu's next activities will aim to consistently achieve higher profits in accordance with the principles of corporate and sustainable development. 

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