Indonesian palm oil businessman Theodore Rachmat comes with an estimated net worth of $1.7 billion according to Forbes. He’s ranked 17th among the wealthiest Indonesians in the 40 Most Abundant List and 882nd around the World’s Billionaires List.
Theodore Rachmat Net Worth $1.7 Billion
Rachmat made his $1.7 billion fortune as the co-owner of Triputra Agro Persada. Along with fellow billionaire Benny Subianto, he possesses one of the largest and most rapid growing palm oil businesses in the country.
His connections to GIC and Northstar run deeper compared to investment in Triputra, which can be currently run by his son, Arif. In 2005, GIC invested in coal company, Adaro Energy, along with Rachmat and Subianto. Northstar was co-founded by his son in law, Patrick Walujo.
Rachmat is allegedly planning to improve the planted area by around two thirds by 2015. The expansion plan drew an investment of $200 million from the sovereign wealth fund of Singapore, the Government of Singapore Investment Corp. (GIC) and the Indonesian partner of TPG Capital, Northstar.