Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Prajogo Pangestu
Investors and Entrepreneurs

The story of Prajogo Pangestu, the Barito Pacific conglomerate founder

08.04.2025
2 min read

How Prajogo Pangestu built his industrial empire

Indonesian Prajogo Pangestu is one of the country’s most respected entrepreneurs. He founded Barito Pacific Corporation, which operates in the energy and industrial sectors.
Prajogo was born in West Kalimantan in 1944. His parents belonged to the Hakka people, who historically lived in south-eastern China. The family honoured tradition, so he was educated in a Chinese school. At the time, such schools were common in Indonesia.

First steps in his career

In 1965, Pangestu went to Jakarta to look for work, but after a while, he returned to Kalimantan. Here, he took a job as a public transport driver. At work, Prajogo met Burhan Uray, a Malaysian businessman involved in the logging industry. In 1969, Pangestu joined Uray’s company, PT Djajanti, where he worked for seven years. Prajogo later took over as general manager of the East Java factory. However, he left this position after one year. Having gained considerable management experience, Pangestu decided to try his hand at developing his own business.

Development of the business

In 1977, the owners of CV Pacific Lumber Coy announced that the company was for sale. The company had been in financial difficulties for a long time, which was the reason for the decision. Pangestu bought the company with a loan from BRI Bank. The businessman quickly got the operations up and running and was able to repay the loan within a year. The company supplied timber for export and domestic markets.
The business expanded rapidly, thanks in part to Prajogo’s connections with the Suharto family. The latter was president of Indonesia in the 1960s.Indonesian billionaire Prajogo PangestuSignificant milestones in the company’s development:
– Prajogo acquired companies that later formed a single corporate structure;
– one of which became the largest on the Indonesian stock exchange in 1993;
– CV Pacific Lumber Coy was renamed PT Barito Pacific in 2007;
– the reason for the renaming was to refocus the business from logging to other areas;
– the rebranding allowed for diversification;
– Star Energy, an oil and gas company, is part of the corporate structure with a stake of over 67%;
– Pangestu controls an 80% stake in Transpacific Railway Infrastructure.
Prajogo has created one of Indonesia’s largest industrial conglomerates. The business operates in a variety of industries, including:
– geothermal energy;
– oil and gas industry;
– chemical industry;
– transport and others.
According to Forbes, Prajogo Pangestu was the second-richest person in Asia at the end of 2024. His net worth is estimated at USD 34.45 billion.

Tags: Investors and Entrepreneurs
0
Previous Post New Line Cinema: from early successes to merger with Warner Bros. Next Post Lithuania's startup market is considered one of the leaders in the region

You Might Also Like

billionaire John DeJoria
Investors and Entrepreneurs
John DeJoria: from a homeless man to a billionaire
30.06.2022
Gertrude Boyle
Investors and Entrepreneurs
Gertrude Boyle: the woman who made Columbia clothing known to the world
28.07.2023
Geraldine Weiss
Investors and Entrepreneurs
Biography of Geraldine Weiss: how a woman managed to become successful in the world of men
01.01.2022
Timothy Barakett
Investors and Entrepreneurs
Timothy Barakett: a biography of the American businessman
04.07.2023
Jack Ma biography
Investors and Entrepreneurs
Jack Ma: biography of the richest man in China
27.03.2021
Marilyn Holt-Smith
Investors and Entrepreneurs
Marilyn Holt-Smith: the story of a talented financial analyst
26.05.2025

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Analysts: Egypt’s economy to continue falling in 2023
  • Field of activity of the American Monsanto Company Corporation
  • Spain’s economy performs best in the EU
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics