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Grizzly Bulls’ Billionaires Index

⬅ # 841 Bob Gaglardi|# 843 John Bicket ➡

# 842 Djoko Susanto 

$3.87B

Real Time Net Worth
as of 6/29/2024
$69.0M (1.78%)

# 842 Djoko Susanto 

$3.87B

Real Time Net Worth
as of 6/29/2024
$69.0M (1.78%)
OccupationFounder, Alfamart
Source of WealthSupermarkets
Age74
ResidenceJakarta, Indonesia
Marital StatusMarried
Children5
Age-Adjusted Net Worth$1.50B
Djoko Susanto
Djoko Susanto
Indonesia
Net worth: $3.87B

Self-Made Score 

Wealth History

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Biography

Overview

Djoko Susanto, born Kwok Kwie Fo, is an Indonesian entrepreneur and billionaire known for founding Alfamart, a prominent convenience store chain with over 20,000 stores in Indonesia and more than 1,400 in the Philippines.
Susanto's journey to wealth began at age 17 when he managed his parents' food stall in a Jakarta market, later expanding into cigarette sales and forming partnerships that led to the creation of Alfamart.
Alfamart's success propelled Susanto into billionaire status, with his entrepreneurial endeavors expanding beyond retail into sharia-compliant financial services.

Early Life

Born on February 9, 1950, Djoko Susanto, originally named Kwok Kwie Fo, is the sixth of 10 siblings.
He dropped out of school due to a government policy but continued his education under a different name to bypass the restriction.
At 17, he managed his parents' modest market stall, eventually transitioning into cigarette sales and expanding the family business.
Susanto's success attracted the attention of Putera Sampoerna, leading to a partnership that laid the foundation for his retail empire.

Business Expansion

In 1989, Susanto established a trading and distribution company in Jakarta, marking the inception of his entrepreneurial journey.
Ten years later, he ventured into the convenience store business, founding Alfa Minimart, which evolved into the Alfamart brand.
Alfamart experienced rapid growth, expanding to over 18,000 stores across Indonesia by June 2023, with daily foot traffic reaching 4 million customers.
Susanto's strategic acquisitions and partnerships, including with PT Sumber Alfaria Trijaya Tbk, propelled Alfamart's expansion and market dominance.
Beyond Indonesia, Alfamart extended its reach to the Philippines, with the first branch opening in 2014, marking its international expansion.
The success of Alfamart led Susanto to diversify his business interests, including investments in sharia-compliant financial services, reflecting his adaptability and entrepreneurial acumen.

Company History

In 1989, Djoko Susanto and his family founded a trading and distribution company in Jakarta, laying the groundwork for future ventures.
By 1999, Susanto entered the convenience store sector with Alfa Minimart, which underwent rebranding to become Alfamart, marking a pivotal moment in the company's history.
Alfamart's growth trajectory accelerated with strategic acquisitions, such as the purchase of shares from PT HM. Sampoerna Tbk in 2006, consolidating Susanto's control over the company.
The company went public in 2009, trading on the Indonesia Stock Exchange and subsequently expanding its operations to include supermarket chains like Alfamidi Mini Supermarkets.
Alfamart's expansion wasn't confined to Indonesia, as it entered the Philippine market in 2014 through a partnership with SM Investments Corporation, achieving significant milestones in store openings and market penetration.
Today, Alfamart stands as a testament to Susanto's vision and leadership, with a vast network of stores and a diversified portfolio reflecting his entrepreneurial legacy.

How long would it take you to become as rich as Djoko Susanto?

If you started with $10,000 and invested an additional $500 each month at a 44.06% CAGR, it would take you 5 years to reach Djoko Susanto's net worth of $3.87B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 48.24% compared to 16.19% for the S&P 500 benchmark.

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Djoko Susanto is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Djoko Susanto, Supermarkets is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey