Early Life
Prajogo Pangestu was born on May 13, 1944, in Bengkayang, West Kalimantan, Indonesia, into a Hakka family of Chinese descent. He attended Chinese schools and moved to Jakarta in 1965. Before building his empire, he worked in humble beginnings, stitching clothes and collecting rubber.
Rise to Success
Prajogo's entrepreneurial journey began in the late 1970s with the timber business, founding Barito Pacific Timber in 1977, which later became one of Indonesia's largest timber companies. He expanded into petrochemicals in 1991, acquiring PT Chandra Asri Petrochemical. His company went public in 1993, marking a turning point in his career by providing access to capital. In 2007, the company rebranded to Barito Pacific, reflecting its diversified operations.
Key Business Strategies
Prajogo's key strategies include strategic investments and diversification across industries, including geothermal energy and renewable energy. He expanded into petrochemicals and renewable energy, particularly geothermal power, to capitalize on market trends. His early investments in geothermal energy significantly boosted his wealth. He also took his coal mining firm, Petrindo Jaya Kreasi, public in 2023, further expanding his footprint in the energy sector.
Philanthropy
Prajogo Pangestu, along with his wife, founded the Bakti Barito Foundation (Yayasan Bakti Barito). The foundation focuses on philanthropic programs in the areas of environment, social, education, and community development.