BUDI Hartono and his family have topped a new list of 150 wealthiest Indonesians, based on their estimated net worth of US$4.2 billion built on cigarette-maker Djarum.

Two other tycoons who built their fortunes on tobacco made the top five: Rachman Halim and Putera Sampoerna, whose US$3.5 billion and US$2.2 billion wealth put them in the second and fifth spots.

Released yesterday by business monthly Globe Asia, the list shows that Indonesia's richest are making their money from energy, resources and domestic mass-market consumption.

In noting this, prominent economist and former economics minister Rizal Ramli added that this also reflected the recent global boom in the commodities and energy sectors.

Dr Rizal, head of Globe Media group which publishes the English-language magazine, was speaking at the media launch of the rich-list.

He noted that even the tobacco kings have begun diversifying out of the industry - a move that helped propel the Hartono family to the top spot. Its privately-held Djarum Group shrewdly bought into Bank Central Asia (BCA) in 2002, after the Salim family gave it up to the government as repayment for liquidity credit extended by the central bank.

The value of the Hartonos' official 46 per cent stake in Indonesia's largest private bank has since swelled from US$500 million in 2002 to US$3.6 billion, on the back of a more than 70 per cent rise in BCA's share price over the past 18 months.

The family has branched out into property as well, fronting mega projects such as the US$230 million Grand Indonesia luxury mall, office and apartment project.

Through marriage, the Hartonos have also formed an alliance with the Katuari family, whose Wings Group specialises in consumer goods. Eddy William Katuari ranks seventh on the list.

Number Two tycoon Rachman Halim's family controls Gudang Garam, one of the largest listed companies on the Jakarta stock exchange. The family is known to be diversifying into property, plantations, trading and transport.

The Sampoernas, who exited the cigarette industry in 2005, are now venturing into property, casinos and crude palm oil. Their palm plantation and biofuel firm Sampoerna Agro listed on the Jakarta stock exchange last month, raising 1.08 trillion rupiah (S$179 billion).

Others among the top 10 include third-ranked Eka Tjipta Widjaja (US$3.1 billion), founder and head of the Sinar Mas group, which comprises more than 200 companies in Asia with businesses ranging from palm oil, pulp and paper to finance and property.

Coming in fourth is Sudono Salim (US$2.8 billion), also known as Liem Sioe Liong, whose Salim Group controls food, palm oil, telecommunications and property firms.

Pulp and paper tycoon Sukanto Tanoto is sixth with US$1.3 billion. Mr Tanoto ranked first in a list of top 40 Indonesians compiled by Forbes magazine last year.

Coordinating Minister for Welfare Aburizal Bakrie ranks eighth with US$1.05 billion and is the only politician besides Vice-President Jusuf Kalla (ranked 83rd with US$125 million) on the list of 150. Mr Bakrie and Arifin Panigoro, ranked ninth, are also the only non-ethnic Chinese among the top 10.

Part of the team who worked on the Forbes list last year has since moved to Globe Asia and is responsible for the magazine's current list, says Globe Asia's editor-in-chief Shoeb Kagda. Mr Kagda said his outfit uses the same methodology as that used by Forbes.

Save for some musical chair movements in the rankings, this year's top 10 names are almost identical to the top 10 in Forbes' 2006 list, with the exception of rising star Hary Tanoesoedibjo, who started out in the capital markets but is now head of Global Mediacom, Indonesia's largest integrated media company.

Worth US$820 million now, Mr Tanoesoedibjo, 42, did not even appear among Forbes' top 40 names last year. Through his Bhakti investment company, he also controls more than 60 companies, including property company Plaza Indonesia Realty and low-cost carrier Adam Air.