Low Tuck Kwong

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Low Tuck Kwong
Born
Colony of Singapore
Nationality Indonesian
Occupation(s)Founder and president director of Bayan Resources

Low Tuck Kwong (born 17 April 1948) [1] is an Indonesian billionaire businessman who is the founder and president director of Bayan Resources, a coal mining company in Indonesia. Low worked at his father's construction company in Singapore as a teenager and then moved to Indonesia in 1972 for greater opportunities. He is ranked as the third-richest person in Indonesia and 66th richest person in the world by Forbes magazine, with a net worth of US$27 billion as of 2024. [2] [3] [4]

Low bought his first coal-mine concession in Kalimantan (the Indonesian side of Borneo) in the 1990s. [5] In 2024, Bayan reported producing 56.9 million tons of coal, nearly 7% of the country's total production of 832 million tons. [6] [7]

In 2023, the Low Tuck Kwong Foundation gave S$127.6 million to educational and healthcare causes, and was the largest private giver of all Singapore's philanthropic organisations. [8]

In August 2024 Low transferred a stake in Bayan, worth $6.6 billion at the time, to his daughter Elaine. [2]


References

  1. ↑ "Birthdays today". The Times. 17 April 2025. Retrieved 17 April 2025.
  2. 1 2 "Low Tuck Kwong - Forbes". Forbes . Retrieved 11 February 2025.
  3. ↑ "The Richest People In The World". Forbes .
  4. ↑ Wibisono, Ardian. "Indonesian Coal Billionaire Low Tuck Kwong Mines Super-Profits To Become The Country's Second Richest Person". Forbes. Retrieved 2023-04-13.
  5. ↑ "The Billionaire Mining Magnate Who Bet Coal Had a Future—And Won Big" . Retrieved 9 January 2025.
  6. ↑ Gurky, Romel (4 March 2025). "Bayan reports higher coal output, sales in 2024". Petromindo. Retrieved 7 May 2025.
  7. ↑ Rinaldi, Renold (9 January 2025). "Indonesia coal production 2024 sets the highest record in history". Indonesia Business Post. Retrieved 7 May 2025.
  8. ↑ "Philanthropic donations jumped 96%, Low Tuck Kwong Foundation the largest giver: Report". The Straits Times. 2024-12-06. ISSN   0585-3923 . Retrieved 2025-05-08.


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