FAPA - PT. FAP Agri Tbk

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JAKARTA – Ciliandra Fangiono, Chief Executive Officer (CEO) of First Resources, is crowned as the richest youth in Indonesia by Forbes.

Based on the data collected today (7/2), Fangiono, at 46 years of age, has collected total assets of USD 2.2 billion. He surpasses Manoj Punjabi, now 50 years old, who has total assets of USD 1.05 billion.

Amongst other 50 richest in Indonesia, Fangiono arrives at the 20th, right below Eddy Kusnadi Sariatmadja, the owner of SCTV media network. Sariatmadja, now 69 years old, is estimated to have total assets of USD 2.4 billion.

As the owner of PT FAP Agri Tbk (FAPA), Fangiono’s wealth come from his palm plantation business. His family’s assets skyrocketed during the COVID-19 pandemic, when the price of crude palm oil in the global market (CPO) went through the roof. (LK/ZH)