The Suharto financial dynasty

By Mike Head
5 June 1998

Over the past four decades, starting before his 1965 military coup, General Suharto has amassed the tenth largest financial dynasty in Asia. Through his wife, sons and daughters and other relatives, the Suharto family has built vast interlocking billion-dollar empires in property, banking, industry, telecommunications, media and transport.

Siti Hardijanti Rukmana, born in 1949, is the eldest child. Known as Tutut, she is married to businessman Indra Rukmana. Her main companies include Citra Lamtoro Gung Persada, controlled jointly with her husband and sisters, and the $780 million toll-road operator Citra Marga Nusaphala Persada. She holds a 17.5 percent share in the Salim Group's Bank Central Asia. Apart from toll-roads in Java and the Philippines and banking, she and her husband have interests in oil, petrochemicals, agribusiness, television, airports, electricity, engineering and defence-related equipment.

Personal net worth: $2 billion.

Sigit Harjojudanto, born in 1951, is the eldest son. He is involved in banking and plastics through his Hanurata Group. Like Tutut, he owns 17.5 percent of Bank Central Asia. His other activities include sugar milling and petrochemicals. In addition, he has a 40 percent stake in Humpuss, the group run by his younger brother "Tommy" Hutomo Mandala Putra. Sigit is in business with Mohamad Bob Hasan. They control Astra International, Indonesia's largest vehicle assembler, and own a 30 percent share of the $30 billion Busang gold project run by Canadian company Bre-X and the US-based Freeport McMoRan Copper and Gold.

Personal net worth: $450 million.

Bambang Trihatmodjo, born in 1953, is the second son. His holding company Bimantara Citra has more than 100 subsidiaries involved in broadcasting and telecommunications, the auto and oil industries, shipping, waste management, infrastructure, finance, electronics and entertainment. He has a 41 percent share in the conglomerate; his partners include ex-Citibank executive Peter Gontha and Tutut's husband Indra Rukmana. His international partners include Hyundai and Deutsche Telekom. With the Salim Group, Bambang has a stake in a $500 million power project in East Java involving the US power company Enron, Siemens of Germany and PowerGen of Britain. He also has a polypropylene company, Tri Polyta.

Net worth: $3 billion.

Siti Hedijanti Harijadi, born in 1959, known as Titiek, is married to Major-General Prabowo Subianto. Her main company is Maharani Paramita, which is involved in property, telecommunications, finance and timber. She is a business partner of Prabowo's billionaire elder brother Hashim Djojohadikusumo in the $2.5 billion Paiton power project and a Jakarta shopping mall. Other partners in Paiton include General Electric and Mission Energy of the United States, and Mitsui of Japan.

Net worth: $200 million.

Hutomo Mandala Putra, born in 1962, is the third and youngest son. Notorious for his exotic cars such as a Lamborghini and his luxury $16 million cruiser, he started the Humpuss group in 1984. It has about 70 companies in fields such as airlines, agribusiness, toll-roads, oil, gas, commodities, manufacturing, media, petrochemicals, shipping, airport advertising, fisheries and timber. Humpuss earns much of its revenue from oil shipment contracts with Pertamina, the state-owned oil and gas company. He has a joint venture with South Korea's Kia Motors to produce the Timor "national car" and also headed the Clove Marketing Board. His business partners include Mohamad Bob Hasan and an Indonesian army foundation.

Net worth: $600 million.

Siti Hutami Endang Adiningsih, born in 1964, is the youngest daughter. Her companies are involved in plantations, warehousing, transport and a land reclamation project near Jakarta. She holds various stakes in her elder siblings' ventures.

Net worth: $100 million.

Other prominent relatives include Suharto's half-brother Probosutedjo, who has been deputy chairman of KADIN, the regime's Chamber of Commerce and Industry, and Suharto's cousin Sudwikatmono, who holds board positions with the two largest Salim Group listed companies, Indocement and Indofood.

See also:
Growing demands for the seizure of Suharto's empire
[5 June 1998]