Low Tuck Kwong
Low Tuck Kwong | |
|---|---|
| Born | April 17, 1948 Indonesia |
| Occupation(s) | Entrepreneur, Businessman |
| Known for | Founder and president director of Bayan Resources |
Low Tuck Kwong (born 17 April 1948) is an Indonesian billionaire entrepreneur and the founder as well as president director of Bayan Resources, one of Indonesia's leading coal mining enterprises. Early in his career, Low gained experience working in his father's construction firm based in Singapore. In 1972, he relocated to Indonesia in pursuit of expanded business prospects. According to Forbes, he ranks as the third wealthiest individual in Indonesia and holds the 66th position worldwide, with an estimated net worth of US$27 billion.
During the 1990s, Low secured his initial coal mining concession in Kalimantan. By 2024, Bayan Resources had produced 56.9 million tons of coal, accounting for close to 7% of Indonesia’s total coal production of 832 million tons.
The Low Tuck Kwong Foundation emerged as Singapore’s largest private philanthropic contributor in 2023, donating S$127.6 million to support initiatives in education and healthcare.
In August 2024, Low transferred shares in Bayan Resources valued at $6.6 billion to his daughter, Elaine.