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Karim
Bachtiar Karim
Rank #2566
INDONESIADiversifiedPalm oil

Bachtiar Karim

Net Worth
$1.552B
0% (24h)
Bachtiar Karim, born in Medan, Indonesia, is a prominent businessman and palm oil magnate. As the Chairman and CEO of Musim Mas Holdings, a leading integrated palm oil company based in Singapore, he oversees global operations including plantations, refining, and manufacturing. With an estimated net worth of $1.6 billion, Bachtiar Karim's wealth is derived from his significant stake in Musim Mas. His career began at a young age, taking over the family's soap factory and transforming it into a global enterprise with $8.9 billion in revenue in 2023. Beyond business, he is involved in philanthropy through the Karim Family Foundation, supporting education and community development.

The Full Dossier

Early Life

Bachtiar Karim, born on November 5, 1957, in Medan, North Sumatra, Indonesia, is of Chinese-Indonesian heritage. He is the eldest of four sons born to Anwar Karim, who founded the Nam Cheong Soap Factory in 1932. Bachtiar received his secondary education in Singapore and later earned a bachelor's degree in mechanical engineering from the National University of Singapore.

Rise to Success

Karim began his career in the family business at a young age. After his grandfather's death, he took on management responsibilities at age 20, improving the family's soap production. Under his leadership, Musim Mas evolved into a fully integrated palm oil operation with upstream plantations, midstream refining, and downstream exports. In 1997, after his father's death, he became the chairman and CEO of Musim Mas. Under his guidance, the company has expanded globally, with key markets in India and diversified into sustainable practices.

Key Business Strategies

Key strategies include vertically integrating the business from cultivation to finished products. Musim Mas has focused on sustainable practices, including plasma smallholder schemes. The company has also invested in technological and operational improvements. Musim Mas has a strong global presence, exporting products to various countries including India.

Philanthropy

Bachtiar Karim is actively involved in philanthropy. He has established the Karim Family Foundation with his wife, Dewi Sukwanto. The foundation focuses on areas like education, sports development, and mental health. He also supports his alma mater, the National University of Singapore, where he established the Bachtiar Karim Professorship in Sustainability. The family's entrepreneur center operates in the University of North Sumatra.

Career Timeline

2021

Established Karim Family Foundation

Established with Dewi Sukwanto to formalize their philanthropic efforts.

2019

Acquisition

Karim bought Royal Darby Park Executive Suites for $117 million.

1997

Chairman and CEO of Musim Mas

Bachtiar Karim took over the roles of chairman and CEO of Musim Mas after his father's death.

1981

Joined Family Business

Karim joined the family business, learning the intricacies of the oleochemical business.

1972

Musim Mas Established

PT Musim Mas was formally set up.

1970

First Palm Oil Refinery

The Karim family opened the first palm oil refinery in Indonesia.

Philanthropic Impact

Education$2M

Karim Family Foundation Scholarship

Established a scholarship at SMU to support Indonesian students.

Education$2M

Bachtiar Karim Professorship in Sustainability

Donated to establish a professorship at the NUS Business School.

Wealth Trajectory