Jakarta, Duniafintech.com – What is Lu Kheng Hong’s real fortune, dubbed by the Indonesian name Warren Buffett?
The 63-year-old who focuses his life on investing in stocks is known to have an impressive amount of wealth. In fact, he also owns shares in several large companies.
It is known that since the age of thirty this man is concentrated in the securities sector. To date, he has been working in the stock market for 33 years.
In fact, Lo Kheng Hong is also known as the father of Indonesian stocks. Then how much Lu Kheng Hong’s wealth and the process he got to the point of achieving the success he is now, you can read his inspiring story here.
The life journey of Mr. Stocks, Lu Kheng Hong
Indonesia’s Warren Buffett is what earned his nickname along with the father of Indonesian stocks.
Despite his nickname as such, Lo Kheng is well on his way to success as he is now going through a career path that is not easy. The reason is that Luo Heng has lived in a poor family since childhood, and his life is full of struggles.
He and his family migrated from Pontianak to Jakarta to try their luck in the big city. In Jakarta, Lo Kheng Hong lives in poverty by owning a house measuring only 4 x 10 meters.
In 1979 he joined the National University by taking evening classes in English literature. Since his tuition fees were not commensurate with his economic situation at the time, he had to find a job at Abroad Express Bank as an administrative employee.
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After graduating from college, the man who was born on February 20, 1959 entered the world of professional life at the age of 30 years.
In 1989, he entered the investment world by purchasing a small stake in PT. Gajah Surya Multi Finance, bought shares in the issuer’s initial public offering.
Lo Kheng Hong has the principle of being a stock investor by buying shares at low prices, but with the potential to continue to grow or otherwise known as value investing.
He bought shares from savings results since he was in college and as a result of working as a management staff. From there, Lo Kheng Hong started out as a successful investor.
Luo Kheng Hong’s fortune
How much Lu Kheng Hong’s fortune is really unknown for certain.
However, according to the site idxchannel.comLo Kheng Hong’s fortune is estimated at 113.5 billion US dollars or 2 trillion rupees.
With this value, LKH deserves to be called one of the Indonesian conglomerates. His wealth comes from his investment in stocks.
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Despite being wealthy, Lo Kheng Hong is a solo investor who simply lives by. This is because the life of a young LKH is full of twists and turns and he had time to become a special employee.
In fact, he lived in a house measuring 4 by 10 meters. Although he comes from a poor family, he continues to study and study the world of stocks.
He also suffered a loss when he bought his first stock. Luo Henghong calls himself a “sleeping shareholder” because he doesn’t stare at stock price movements on his monitor screen.
What shares did he buy?
Then when Lo Kheng Hong was young and working in a private company, his career continued, until 1990 Lo Kheng worked in the marketing department of an economic bank.
Then a year later he was promoted to the head of the bank branch where he worked. After working for 17 years, he stopped working at the bank and focused entirely on becoming a stock investor.
- Shares of PT Indika Energy Tbk (INDY)
In 2016, Lu saw coal stocks experienced a decline in prices. On that occasion he bought shares of INDY traded at the lowest price of Rs 106 per share.
After two years of owning shares of Indika Lo, he was able to increase the company’s shares from $50 to $100 per ton. Due to the rising price of coal, the share price of INDY immediately fell to Rs 4,550 per share or higher. After that, Lo Kheng Hong sold the shares and made a profit of 4000% in just two years.
- Shares of PT Indah Kiat Pulp and Paper Tbk (INKP)
A year later in 2017, Lo Kheng continued to buy shares from INKP. That year, when he bought shares in the company, they rose to Rs 20,000 per share and were sold. In 1.5 years profit 1900%. At the time of the initial purchase of the shares, Lo Kheng bought the shares at the INKP share price of Rs 1,000 per share.
- Shares of PT United Tractor Tbk (UNTR)
In this company, Lo Kheng has a large amount of money when buying shares. In 1988, when he became an investor in this company, he bought UNTR shares for IDR 250 per share, but let him “sleep” for only 6 years. Then Lu Kheng sold it at 15,000 rupees per share. The profit he got from the sale was 5,900%.
The share of assets from UNTR is a factor in Lo Kheng Hong’s fortune which is making huge profits. The reason is that the shares obtained from this company are estimated at 625 billion shares. This lofty achievement is the best achievement of Luo Henghong during the career journey that he lived during his life
It’s no wonder when Lo Kheng Hong’s fortune is called the father of Indonesian stocks because with the accomplishments he has made, he deserves to be called such a title.
This is about Lo Kheng Hong’s fortune and his fun stories. We hope this information will inspire you.
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Author: Contributor / Shuhada Banji A