Palm oil continues to become source of immense wealth for Indonesia’s richest. At the age of fifty eight, Bachtiar Karim is one of the richest businessmen in Indonesia with amazing amount of wealth. Among Forbes’ famous list of richest people in the world, Bachtiar Karim is considered newbie, but he was soon recognized as one of the most prominent Indonesian business owners. The son of Anwar Karim, an owner of Nam Cheong Soap Factory, he quickly rose into the rank of richest people in the world with his two brothers and oleo chemical company, Musim Mas.
According to Forbes newest data of richest people in the world, Bachtiar Karim’s wealth is currently around US$ 2 billion, and he is currently the 869th richest person in Forbes’ current list of 1,000 richest people in the world.
Wealth from Oleo Chemical Company
Musim Mas, Indonesia’s second largest oleo chemical company and palm oil refinery, was originally developed from Nam Cheong Soap Factory, which was built in 1972. The company itself is still active, producing goods such as soap and margarine from his refined palm oil product. Musim Mas is also known as among the biggest palm oil companies in the world, and has exported its oil and products to various countries. The company now has its own tanker ship and large grain terminal, and exports its palm oil to other countries, including large palm oil importers such as India. Musim Mas main location is located in North Sumatra.
Besides involved in palm oil production and oleo chemical manufacturing, Bachtiar Karim is also a philanthropist. He has his own entrepreneur training and education center in Medan city, at University of North Sumatra, started to educate local youths at the importance of entrepreneur spirit. As a graduate of National University of Singapore, he is also a regular donor and supporter of entrepreneur movements in Indonesia.