Early Life
Mochtar Riady, born Lie Mo Tie on May 12, 1929, in Malang, East Java, Indonesia, is of Chinese Indonesian descent. At five months old, he was taken to his father's ancestral village in Fujian, China, where he spent his early years. His parents migrated from Fujian to Malang in 1918. He graduated from Chung Yuan University in Nanjing, China, before starting his career at age 22 as a bicycle shop proprietor.
Rise to Success
Riady's career is marked by several notable highlights. He founded the Lippo Group in 1959, which has since grown into a vast business empire with interests in banking, real estate, retail, healthcare, and telecommunications. In 1975, he partnered with Liem Sioe Liong, taking charge of Bank Central Asia (BCA). He is widely acknowledged as a master in turning around the fortunes of financial institutions, making his mark in creating Indonesia's top banks. Riady groomed his sons, James and Stephen, to take on critical management positions.
Key Business Strategies
Riady's strategies included revitalizing distressed institutions and capitalizing on Indonesia's economic expansion, particularly the oil boom of the 1970s. He focused on banking, real estate, and other ventures, growing the Lippo Group into one of Asia's largest and most diversified conglomerates.
Philanthropy
Riady is known for his philanthropic endeavors. He established foundations focused on education, healthcare, and community development. The Riady Foundation supports initiatives in education, healthcare, and leadership. He has donated millions to universities in Singapore and established the Mochtar Riady Institute for Nanotechnology.