Source of Wealth:Coal
Occupation:Co-Owner of Triputra Agro Persada
Education:Bandung Institute of Technology
Indonesian palm oil businessman Theodore Rachmat has an estimated net worth of $1.39 billion as of April 2016 according to Forbes. He is ranked 17th among the wealthiest Indonesians in the 40 Richest List and 882nd on the World's Billionaires List.
Rachmat earned his $1.7 billion fortune as the co-owner of Triputra Agro Persada. Along with fellow billionaire Benny Subianto, he owns one of the biggest and fastest growing palm oil companies in the country.
Rachmat is reportedly planning to increase 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.
His connections to GIC and Northstar run deeper than the investment in Triputra, which is currently run by his son, Arif. In 2005, GIC invested in coal producer, Adaro Energy, along with Rachmat and Subianto. Northstar was co-founded by his son-in-law, Patrick Walujo.