The wealth of Indonesia’s leading billionaires has declined amid the continued sharp correction in the Indonesia Composite Index (IHSG). During the first trading session today, the IHSG closed down 206.81 points, or 3.48%, at 5,734.26.

This decline extended the correction trend that has weighed on the benchmark index throughout the year. On a year-to-date (YTD) basis, the IHSG has recorded a cumulative loss of 33.68%.

At the same time, Indonesia’s top tycoons collectively experienced a reduction in their personal fortunes.

Among them is Prajogo Pangestu, who previously remained for an extended period among Forbes’ 30 richest individuals worldwide. He has now fallen to 178th place globally. Domestically, the petrochemical magnate still ranks as Indonesia’s wealthiest person with a net worth of US$16.4 billion. However, his fortune declined by 8.23% over the past day.

In second place is coal businessman Low Tuck Kwong, whose wealth stands at US$14.2 billion. His net worth slipped by 0.44% during the last 24 hours.

The third position belongs to Djarum Group owner Robert Budi Hartono, whose fortune amounts to US$13.8 billion. His wealth decreased by 7.53% in a single day.

Fourth on the list is Anthoni Salim, head of the Salim Group, with a net worth of US$10.1 billion. This figure represents a 4.31% decline compared with the previous day.

Next is Sri Prakash Lohia, founder of the Indorama Group. The India-born businessman, who has held Indonesian citizenship since 1985, saw his wealth edge down by 0.05% to US$8.6 billion over the past day.

Following him are Tahir and his family, owners of the Mayapada Group. Their combined wealth fell by 6.21%, bringing it to US$8.3 billion.

The next position is occupied by Otto Toto Sugiri, often referred to as Indonesia’s “Bill Gates.” Unlike most of the other tycoons on the list, the DCI Indonesia co-founder recorded a gain in wealth, which rose 0.40% to US$7.8 billion.

Marina Budiman, another owner of DCI Indonesia, follows closely behind. Her net worth also increased by 0.42%, reaching US$5.6 billion.

Ninth place belongs to Lim Hariyanto Wijaya Sarwono, chairman of the Harita Group. His fortune currently stands at US$4.2 billion after declining by 4.33%.

Rounding out the top ten is Sukanto Tanoto, whose wealth totals US$4.1 billion. His net worth remained unchanged despite the market turbulence seen this week. Sukanto is the owner of Singapore-based Royal Golden Eagle.