Early Life
Sukanto Tanoto was born Tan Kang Hoo on December 25, 1949, in Medan, North Sumatra, Indonesia. He is the eldest of seven sons. His father was a Chinese immigrant from Putian, Fujian province. Tanoto's education was interrupted in 1966 due to the closure of Chinese schools. After his father suffered a stroke, Tanoto took over the family business.
Rise to Success
Tanoto's entrepreneurial journey began in 1967 when he started a spare parts supply shop. In 1973, he entered the forest industry. During the 1973 oil crisis, he expanded his business by capitalizing on the increasing prices. He founded RGE (Royal Golden Eagle), formerly known as Raja Garuda Mas, as a plywood business. RGE has grown into a global group with operations in pulp and paper, palm oil, viscose fiber, and energy. Tanoto also ventured into the tissue business, acquiring Brazil's OL Papeis in 2023. In 2024, he completed a $3.3 billion deal to take Hong Kong-listed tissue paper maker Vinda private.
Key Business Strategies
Tanoto's business strategy has been described as either being geographically focused with many businesses or being a global player in selected businesses. His business philosophy emphasizes the importance of being "Good for the Community, Good for the Country, Good for the Climate, and Good for the Company". Tanoto also prioritizes continuous learning, even taking management courses at INSEAD, Harvard, and Wharton.
Philanthropy
In 2001, Sukanto Tanoto and his wife Tinah Bingei Tanoto established the Tanoto Foundation. The Foundation focuses on education, providing scholarships and supporting educational development.