BillionaireNet
Karim
B
Rank #2159
INDONESIADiversifiedPalm oil

Bachtiar Karim

Net Worth
$1.766B
0% (24h)
Bachtiar Karim, a 68-year-old Indonesian businessman, is a prominent figure in the global palm oil industry. With a net worth of $1.8 billion, his wealth stems from his leadership of Musim Mas Group, one of the world's largest integrated palm oil companies. Karim serves as the Chairman and CEO of Musim Mas, which he runs alongside his brothers. His career began in the family's soap factory, Nam Cheong Soap Factory, which was founded by his father in 1932, and he later transitioned to the palm oil sector, establishing Indonesia's first palm oil refinery in 1970. Karim's leadership has been instrumental in Musim Mas's expansion across Asia, Europe, and the Americas, with the company achieving a revenue of $8.2 billion in 2024. Beyond business, Karim is involved in philanthropy, supporting education and sustainability initiatives through the Karim Family Foundation.

The Full Dossier

Early Life

Bachtiar Karim, born on November 5, 1957, in Medan, Indonesia, is an Indonesian businessman with a deep-rooted history in the palm oil industry. His father, Anwar Karim, founded the Nam Cheong Soap Factory in 1932, laying the groundwork for the family's future in business. Bachtiar grew up in a supportive environment, which instilled a strong work ethic and entrepreneurial spirit. He attended Hwa Chong Junior College in Singapore and earned a degree in Mechanical Engineering from the National University of Singapore.

Rise to Success

Karim joined the family business in 1981 and progressively took on more responsibilities. He played a key role in the transformation of the family business from soap manufacturing to palm oil refining. The family's entry into the palm oil sector began with the establishment of Indonesia's first palm oil refinery in 1970. The company, later named Musim Mas, expanded under Karim's guidance, opening a regional office in Kuala Lumpur in 2002 and entering the European market in 2007.

Key Business Strategies

Under Bachtiar Karim's leadership, Musim Mas has become a global player in the palm oil industry. The company's strategies include vertical integration, controlling the entire value chain from cultivation to manufacturing. Musim Mas operates in 13 countries and has a wide network of refineries. The company focuses on sustainability, and has been recognized for its sustainable practices, including RSPO certification for its mills.

Philanthropy

Bachtiar Karim is involved in philanthropy through the Karim Family Foundation. The Foundation supports education and healthcare, and has donated to the National University of Singapore to establish a professorship on sustainability. The Foundation focuses on sports development, arts & culture, mental health, and education, and is committed to contributing to various communities, starting in Singapore and Indonesia.

Career Timeline

2007

Expanded into European market

Opened an office in Europe.

2002

Expanded Musim Mas Group

Opened a regional office in Kuala Lumpur.

1997

Assumed leadership of Musim Mas

Bachtiar took over after his father's death.

1981

Joined Family Business

Bachtiar Karim began working in the family business, gradually taking on more responsibilities.

1970

Established Indonesia's first palm oil refinery

The Karim family ventured into the palm oil industry.

Philanthropic Impact

Education$2M

Karim Family Foundation Scholarship

Supports Indonesian students studying at SMU.

EducationUnknown

Entrepreneur and Training Center

Founded an entrepreneur and training center in Medan.

Education$2M

Professorship on Sustainability

Donated to the National University of Singapore to establish a professorship on sustainability in its business school.

Wealth Trajectory