From the Editor

Last Updated Dec 10, 2025, 12:01am EDT

  • With brothers Burhan and Bahari, Bachtiar Karim runs Musim Mas, an integrated palm oil firm with $8.2 billion in 2024 revenue.
  • His late father Anwar founded Nam Cheong Soap Factory in 1932; the family-run operation still makes soaps and margarine.
  • The family opened the first palm oil refinery in Indonesia in 1970. Musim Mas was formally set up two years later.
  • Karim, who bought Royal Darby Park Executive Suites for $117 million from Singapore billionaire Asok Hiranandani's Royal Group in 2019, opened The Standard hotel on the site in 2025.
  • Son Chayadi Karim is building a property group through Singapore-based Invictus Developments. It includes hotel properties in Singapore, Australia and Japan.
Wealth History
HOVER TO REVEAL NET WORTH BY YEAR

Forbes Lists

list appearances

16

Personal Stats

Age
68
Source of Wealth
Palm oil
Residence
Medan, Indonesia
Citizenship
Indonesia
Marital Status
Married
Children
2
Did you know
The family has set up an entrepreneur center at the University of North Sumatra in Medan.
Karim has donated $2 million to the National University of Singapore, his alma mater, to establish a professorship on sustainability in its business school.
In 2020, he donated $3.7 million to various causes in Singapore, including the Singapore General Hospital and the Alzheimer's Disease Association.
Related People & Companies
Bachtiar Karim
Bachtiar Karim
Related by origin of wealth: Palm oil
View Profile
Bahari Karim
Bahari Karim
Related by origin of wealth: Palm oil
View Profile
Burhan Karim
Burhan Karim
Related by origin of wealth: Palm oil
View Profile
Ciliandra Fangiono & family
Ciliandra Fangiono & family
Related by origin of wealth: Palm oil
View Profile
Indonesia
Indonesia
Citizen of Indonesia
View Profile
Kuok Khoon Hong
Kuok Khoon Hong
Related by origin of wealth: Palm oil
View Profile
Kuok Khoon Hong & family
Kuok Khoon Hong & family
Related by origin of wealth: Palm oil
View Profile
Martua Sitorus
Martua Sitorus
Related by origin of wealth: Palm oil
View Profile
Wirastuty Fangiono
Wirastuty Fangiono
Related by origin of wealth: Palm oil
View Profile

More on Forbes