JAKARTA – The wealth of the 73-year-old grandfather jumped to USD 2.1 billion or equivalent to Rp. 30.03 trillion (exchange rate of Rp. 14,300 per USD).
The wealth of this 73-year-old grandfather is thanks to the increase in coal prices.
He is the founder of Bayan Resources, Low Tuck Kwong. Low Tuck Kwong is also better known as the king of coal.
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The wealth of the man who was born in Singapore skyrocketed thanks to rising coal prices. Previously, Low Tuck Kwong’s wealth reached USD 1.2 billion or equivalent to Rp. 17.1 trillion on September 20, 2021. But now his wealth has jumped to Rp. 30 trillion.
Thus, within a day his wealth jumped to around Rp. 12.9 trillion.
In Forbes 2020 data, Low Tuck Kwong is ranked 25th on the list of the richest people in Indonesia. Now in Forbes 2021 data, Low Tuck Kwong is ranked 11th on the list of the richest people in Indonesia. This is as quoted from Forbes real time net worth, in Jakarta, Sunday (3/10/2021).
It is known that Bayan Resources is a coal mining company in Indonesia. In addition to the coal company, Low also controls Singapore shipping company Manhattan Resources and has interests in The Farrer Park Company, Samindo Resources and Voksel Electric.
Then, he also supports SEAX Global, which is currently building a submarine cable system for internet connectivity that connects Singapore, Indonesia and Malaysia.
At the age of 20, he worked for his father’s construction company in Singapore. Then, in 1972 decided to move to Indonesia in order to get a better opportunity.
Meanwhile, he thrived as a building contractor and hit the jackpot after buying his first mine in 1997.
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