#1207

Martua Sitorus

Indonesia 66 years old Self-Made

Overview

Source of Wealth: Palm oil
Industry: Manufacturing
Residence: Singapore
Marital Status: Married

Assets

Cemindo Gemilang

13,637,614,000 shares @ -

-

CMNT-ID
Murni Sada

1,601,811,000 shares @ -

-

MTMH-ID
Pan Brothers

3,866,456,000 shares @ -

-

PBRX-ID
Wilmar International Ltd

0 shares @ -

-

F34-SG

Biography

Martua Sitorus cofounded Wilmar with Kuok Khoon Hong, now also a billionaire, in 1991.

Sitorus stepped off the board of Wilmar, one of the world's largest palm oil traders, in 2018.

He and his brother Ganda cofounded KPN, formerly known as Gama, with interests in palm oil plantations, property development and cement manufacturing.

In partnership with the Ciputra Group, KPN's property arm Gama Land built a township in Medan, North Sumatra in 2024.

The family's cement maker Cemindo Gemilang listed its shares in 2021 raising $77 million. Their hospital company Murni Sadar raised $21 million through an IPO in 2022.

About

A former economics student, Sitorus traded shrimp as a teenager, then switched to palm oil.

His business partner Kuok Khoon Hong is the nephew of revered Malaysian businessman Robert Kuok.