Anthony Salim Explained

Anthony Salim
Native Name:林逢生
Birth Date:25 October 1949
Birth Place:Kudus, Central Java, Indonesia
Alma Mater:Ewell County Technical College
Occupation:Businessman, investor
Organization:Salim Group
First Pacific
Parents:Sudono Salim (father)
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Child:yes
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P:Lín Féng Shēng
Poj:Lîm Hông Senn

Anthony Salim, born Liem Hong Sien (; born 25 October 1949), is an Indonesian businessman and investor. He is the head of the conglomerate Salim Group and the chairman of First Pacific, a Hong Kong-based investment management firm.

Early life

Salim was born in Kudus, Central Java (a town nearby the main provincial capital city of Semarang) to entrepreneur Sudono Salim (1916–2012) and Lie Las Nio (1924–2015). His father was an emigrant turned naturalized Indonesian citizen who settled in Kudus before emigrating to Lampung. His mother was a local-born full-blooded Chinese.

His father founded the Salim Group, which Anthoni acceded after his father's death. He completed his education in 1971 at Ewell County Technical College (now North East Surrey College of Technology) in the United Kingdom.[1] [2] [3] Despite not excelling in his studies, he became a successful businessman and investor after his return to Indonesia.

During the May 1998 riots, his family's home was set on fire and he fled to Singapore.[4] After the riots subsided, he returned to Lampung to rebuild his conglomerate and to pay off some $5 billion in remaining debt.

Career

In 1998, during the Indonesian monetary crisis, Salim's father handed the company to Anthoni while the company had high debts. Now, he controls many of Salim Group's subsidiaries such as Indofood and Indomaret. He has served as the Chairman of First Pacific since 2003, after serving as a director since 1981.[5]

He is listed as substantial shareholder (74%) of Indofood Agri Resources, a Singaporean agriculture holding company often criticized for working with dubious shadow companies involved in obtaining palm oil from undisclosed, contested land.[6] [7]

Forbes listed his net worth at $8.5 billion as of December 2021.[8]

Family

At the age of 25, Salim married Siti Margareth Jusuf. They have three children.

His oldest son, Axton (born in 1979), studied business administration in Colorado and has had leading roles in the Salim Group's companies. He has been a director of Indofood[9] since 2009, and non-executive director of IndoAgri since 2007.[10] [11] His youngest son, Djaya, became a process designer in Singapore.

Notes and References

  1. Web site: Anthoni Salim . Bloomberg . 28 April 2020.
  2. Web site: Anthoni SalimIndofood CBP . InfoFoodCBP . 28 April 2020.
  3. Book: Borsuk . Richard . Liem Sioe Liong's Salim Group : the Business Pillar of Suharto's Indonesia. . 2014 . Institute of Southeast Asian Studies . 978-9814459570 .
  4. News: Landler. Mark. 16 May 1999. Year of Living Dangerously For a Tycoon in Indonesia. en-US. The New York Times. 27 June 2020. 0362-4331.
  5. Web site: Management Team . firstpacific. 5 June 2020.
  6. Web site: Indofood Agri Resources Ltd. indofoodagri.listedcompany.com. 25 June 2020.
  7. Web site: Indofood Agri Resources – Material Risks from Contested Land and Labor Issues . chainreactionresearch.com . 25 June 2020.
  8. Web site: Forbes Profile: Anthoni Salim. . 25 December 2021.
  9. Web site: Axton Salim Indofood. 27 June 2020. www.indofood.com.
  10. Web site: Business Leaders. 27 June 2020. marketscreener.
  11. Web site: Axton Salim- Indofood . indofood . 28 April 2020.