- Category:
- Richest Business › Richest Billionaires
- Net Worth:
- $1.2 Billion
- Birthdate:
- 1950 (74 years old)
- Birthplace:
- Indonesia
- Nationality:
- Indonesia
What is Djoko Susanto's Net Worth?
Djoko Susanto is an Indonesian entrepreneur who has a net worth of $1.17 billion. Born Kwok Kwie Fo in 1950 in Jakarta, Indonesia, he is the owner of Alfamart, a retail business with a concept of mini-marts. The sixth of 10 siblings, Susanto had to drop out of school after finishing one year of high school because the Government banned students with Chinese names to learn (Thus, he changed his name later). At the age of 17, he started to manage his parents' humble 560 feet food stall inside Pasar Arjuna.
Then, Susanto started selling cigarettes and launching more stalls. His successful achievement captured the attention of cigarette mogul Putera Sampoerna, and together, they established more similar stalls, and then, the duo started a discount supermarket chain. After Sampoerna sold his cigarette business to Philip Morris, now Altria, including his part of retail business run by Susanto, Altria did not wanted the retail company, and several years later, Susanto managed to purchase the stake of the retail company, making him an owner of 65%. During the years, he developed the retail business into the minimart chain Alfamart that currently holds 7,717 stores under few brands like Alfa Midi, Alfa Express and Lawson.
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