F&B & Hospitality

Peter Sondakh

Despite his initial failure with a real estate project, Peter Sondakh was able to build a fortune that culminated with his entry into the billionaire’s club

Profile


Peter Sondakh’s life story is the stuff of legend, starting with his unceremonious thrust into the business world after his father’s sudden passing. Sondakh’s initial real estate venture failed, but he trudged on to build an empire, now known as PT Rajawali Corporation.

The billionaire maverick is credited with starting Indonesia’s first private TV station, and the first privately held telecoms company to use global-system technology. Sondakh is also widely respected for his social perspective. His Express Taxis operates an ownership scheme wherein drivers are given access to credit so they can eventually own their taxis, an initiative that caught the attention of the United Nations.

PT Rajawali Corporation’s diverse portfolio includes investments in luxury hotels (such as the St Regis in Bali and the Four Seasons in Jakarta), media and mining. In 2021, Sondakh’s Archi Indonesia, one of Indonesia’s largest gold-mining companies, announced its plans for an IPO to accelerate expansion. If it pushes through, the IPO could be one of the largest offerings at the Indonesia Stock Exchange.

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