Martua Sitorus is one of Indonesia’s wealthiest businessmen with a net worth of $2.5 billion according to Forbes. He made his fortune through his involvement in palm oil plantations and the energy industry. Sitorus is the founder and co-owner of Wilmar International, the largest palm oil trader and refiner in the world. He is also the founder of Asian Agri, one of Asia’s largest producers of crude palm oil.
Early Life and Education
Martua Sitorus was born in Simalungun, North Sumatra, Indonesia in 1960. He comes from a family of farmers, and he spent his early life working in the fields. Sitorus completed his elementary school education in his hometown before he moved to Jakarta to continue his studies. He attended SMAK 1 BPK Penabur, a highly-respected Christian high school in the city, where he developed his interest in business and entrepreneurship.
After finishing high school, Sitorus went on to study at Trisakti University in Jakarta, where he earned a degree in economics. His passion for agriculture led him to pursue a master’s degree in agronomy from Bogor Agricultural University, one of Indonesia’s top universities in the field.
Career and Achievements
After completing his education, Sitorus began his career in the oil palm industry. In 1981, he joined PT PP London Sumatra Indonesia, a subsidiary of the London Sumatra Plantation Group, where he worked his way up to become the Director of Plantations in 1991. During his time at the company, he gained valuable experience in plantation management, and he eventually left to start his own business.
In 1979, Sitorus founded Asian Agri, a palm oil plantation company based in Indonesia. The company quickly grew, and it now has over 160,000 hectares of oil palm plantations across the country. In 1991, Sitorus co-founded Wilmar International with Kuok Khoon Hong, a Singaporean businessman. Wilmar has become the largest palm oil trader and refiner in the world, with operations in over 50 countries.
Sitorus has received numerous awards and accolades for his contributions to the business world. He was named Ernst & Young’s Entrepreneur of the Year in 2010, and he has also received awards from the Indonesian government for his contributions to the country’s agriculture industry. In addition to his work in the palm oil industry, Sitorus is also involved in the energy sector. He owns a stake in coal producer PT Adaro Energy and has invested in renewable energy projects through his company Asian Energy.
Martua Sitorus is married to Ching Lie, and they have two children together. They are known for their philanthropic efforts, and they have donated millions of dollars to various causes in Indonesia. Sitorus is a devout Christian, and he is actively involved in his church. In his free time, he enjoys golfing and spending time with his family.
|Sector||Palm Oil and Energy|
|Companies||Wilmar International, Asian Agri, PT Adaro Energy|
|Net Worth||$2.5 billion|