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Billionaire Profile
Low Tuck Kwong
Global Rank
#92

Image: Public domain | via Wikimedia Commons

Low Tuck Kwong

CEO, Bayan Resources
ID
Real-Time Net Worth
$24.8B
As of December 2025
Age
77
Source
Coal
Industry
energy
Citizenship
ID

Biography

Low Tuck Kwong (born April 17, 1948) is a Singapore-born Indonesian billionaire businessman, known as the "Coal King" for his significant role in Indonesia's coal industry. His estimated net worth is $24.8 billion, a testament to his strategic investments in coal mining and related infrastructure through his company, Bayan Resources. Kwong's career began with hands-on experience in his father's construction firm before moving to Indonesia in 1972 and founding PT Jaya Sumpiles Indonesia. He later transitioned into the coal business, acquiring his first mine in 1997. Kwong is also known for his philanthropy through the Low Tuck Kwong Foundation.

Wealth Over Time

In-Depth Profile

Early Life

Low Tuck Kwong was born in Singapore on April 17, 1948. He grew up working in his father's construction firm, gaining early experience in civil engineering and construction. In 1972, at the age of 24, he moved to Indonesia, seeking greater entrepreneurial opportunities.

Rise to Success

In 1973, Low founded PT Jaya Sumpiles Indonesia, a company providing piling and civil works services. He entered the coal industry in 1988 and acquired his first coal mine, PT Gunungbayan Pratamacoal, along with a coal terminal in 1997. In 2004, he founded Bayan Resources, which went public on the Indonesia Stock Exchange in 2008.

Key Business Strategies

Low Tuck Kwong's success is rooted in strategic investments and a deep understanding of the coal industry. His approach includes acquiring mines, building infrastructure, and ensuring high-quality coal exports. He has also diversified his interests into renewable energy and other sectors.

Philanthropy

Low established the Low Tuck Kwong Foundation, supporting education, healthcare, and community development. In 2023, the foundation made a landmark donation to the Lee Kuan Yew School of Public Policy at the National University of Singapore.

Career Milestones

1973

Founded PT Jaya Sumpiles Indonesia

Established a company providing piling and civil works services in Indonesia.

1988

Entered the Coal Industry

Transitioned into the coal business in Indonesia.

1997

Acquired First Coal Mine

Acquired PT Gunungbayan Pratamacoal and a coal terminal, marking the beginning of his rise in the resource sector.

2004

Founded Bayan Resources

Established Bayan Resources, which later became a major coal producer.

2008

Bayan Resources IPO

Took Bayan Resources public on the Indonesia Stock Exchange, which propelled its growth.

2022

Established Low Tuck Kwong Foundation

Established a private charitable foundation to support education, healthcare, and social welfare.

2024

Transferred Stake in Bayan Resources

Transferred a 22% stake in Bayan Resources to his daughter Elaine.

Philanthropy & Social Impact

Education, Healthcare, Social Welfare

Low Tuck Kwong Foundation

S$127.6M

Supports education, healthcare, and community development