Sukanto Tanoto Net Worth $28 Billion
RGE – What Is It?
Indonesian businessman Sukanto Tanoto is the Creator and Chairman of Royal Golden Eagle (RGE), and has an estimated net worth of $2.8 billion as of March 2013. Based on Forbes, he’s the seventh most affluent individual on Indonesia’s 40 Richest List as well as the 503rd richest in the World Billionaires List.
Born on December 25, 1949 in Medan, Indonesia, Mr. Tanoto amassed his estimated net worth of $2.8 billion through his foundation of RGE, a world-wide resources-based manufacturing group of businesses.
Tanoto started his business career a lot more than forty years ago at the age of 17. Tanoto worked in the family business that provided spare parts to the petroleum and construction industries. As the oldest son, he took on the business and enlarged into construction gas pipelines for multinationals. The venture was rather lucrative, most notably during the 1972 petroleum catastrophe.
Today, the RGE conglomerate owns palm oil company Asian Agri and papermaker Asia Pacific Resources International Ltd. Additionally, it has a stake in cellulose producer Sateri Holdings, Tanato’s biggest publicly held investment.
He also set up the Tanato Foundation greater than ten years ago. It offers scholarships, honoraria to teachers, and healthcare in remote regions. Together with his philanthropy and support of education, he received the Dean’s Medal from Wharton, the school’s highest honor, in October 2012. He also sits on the board of Overseers of the university.