VINANSIA.COM – Hermanto Tanoko, a Surabaya-born businessman dubbed 'Crazy Rich', has recently captured headlines in Indonesia's business world.

His latest move of taking PT Superior Prima Sukses Tbk. (BLES), a brick manufacturing company, public on the Indonesia Stock Exchange (IDX) has drawn significant attention. Tanoko also revealed that he has increased his stakes in major Indonesian banks, including BBRI, BMRI, and BBNI.

In a surprising turn of events, Forbes reports that Tanoko has leapfrogged to become Indonesia's second-richest person, surpassing the Hartono brothers and coal magnate Low Tuck Kwong, placing him just below Prajogo Pangestu. His current wealth is estimated at US$34.3 billion (approximately Rp554.87 trillion).

Tanoko's wealth accumulation is closely tied to his diverse business portfolio, which has shown remarkable growth on the IDX. His bottled water company, PT Sariguna Primatirta Tbk. (CLEO), has seen an 84.62% increase in share price over the last six months. Similarly, his pharmaceutical distribution company, PT Penta Valent Tbk. (PEVE), has surged 64.47% in the same period.

Other companies in his portfolio have also shown impressive growth. PT Cahayaputra Asa Keramik Tbk. (CAKK) rose 39.02% in three months, while his fashion retail company, PT Mega Perintis Tbk. (ZONE), rocketed 22.77% in just one week.

Tanoko's business empire extends beyond these companies. He owns stakes in property development firm PT Jaya Sukses Makmur Sentosa Tbk. (RISE) and building materials retailer PT Caturkarda Depo Bangunan Tbk. (DEPO).

However, his most renowned company is PT Avia Avian Tbk. (AVIA), a major paint manufacturer founded by his father, Soetikno Tanoko, in 1978.

Currently, Hermanto and his brother Wijono Tanoko control the Tancorp Group, which oversees their family's vast business interests and numerous subsidiaries.

Despite his success, Tanoko remains grounded and actively shares his business experiences and tips on social media under the username @htanoko on Instagram and YouTube.

As of July 11, 2024, Forbes Real Time data placed Tanoko as the 16th richest person in Indonesia, with a net worth of US$2.2 billion (approximately Rp35.76 trillion). This wealth is largely attributed to eight companies listed on the IDX, including the recently listed BLES.

BLES, which had its IPO at Rp183 per share, is currently trading at Rp274 per share. The company's market capitalization has reached Rp2.44 trillion, with a price-to-earnings ratio of 16.53 and a price-to-book value ratio of 3.27.

Tanoko acknowledges that there can be anomalies in stock price movements. He notes, "Sometimes there's an anomaly between stock prices and fundamentals. For instance, AVIA's profits have been consistently rising since its IPO, but its stock price has been declining."

Despite these fluctuations, Tanoko sees potential in his portfolio's underperforming stocks, considering them attractive for collection.

Tanoko's business acumen and diverse portfolio have solidified his position as one of Indonesia's most prominent business figures, with his companies playing significant roles across various sectors of the country's economy.