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1546
In the world today
Djoko Susanto

Djoko Susanto

D. Susanto
0.06% | + $1.59M
$2.68 B ₹ 24,348 Cr
Real Time Net Worth #1546 Ranking as of 21 Feb 2026 By Forbes

More on Djoko Susanto

Gender

Male

Age

76Y

Country

Indonesia

Born On

February, 1950

Deceased

No

Relationship Status

Married

Children

5

Education

Unknown

Designation Info :

Self-Made

Yes

Entrepreneur Type

Self-Made (Retail)

Primary Organization

Alfamart

Titles

Founder

Sources of Wealth

Alfamart

Industry

Retail, Food & Beverage

About Djoko Susanto


D joko Susanto is an Indonesian self-made billionaire who is the founder and owner of the Alfamart Group, one of the largest and most ubiquitous convenience store chains in Indonesia. His story is one of a relentless entrepreneur who started from humble beginnings. He began his business career by managing his family's small grocery stall in a traditional market in Jakarta.

He later went into partnership with the cigarette tycoon Putera Sampoerna before striking out on his own to found Alfamart. He built the company into a massive retail empire with tens of thousands of mini-mart style stores across the Indonesian archipelago and in the Philippines. The stores offer a limited range of everyday necessities and have become a central part of daily life for millions of Indonesians. His success is a testament to his deep understanding of the Indonesian mass-market consumer and his ability to scale a retail concept on an immense scale.

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Quick Reads


  • Founder of the Alfamart convenience store chain.
  • A self-made billionaire, he started by managing his family's small food stall.
  • Alfamart is one of the largest mini-mart chains in Indonesia, with over 20,000 stores.
  • The company has also expanded into the Philippines.
  • He was formerly a partner of Indonesian tobacco billionaire Putera Sampoerna.

Early Life and Background


Djoko Susanto (born Kwok Kwie Fo) is an Indonesian businessman, the self-made billionaire founder of Alfamart, Indonesia's largest minimart chain. Born in Jakarta in 1950, his life is a legendary rags-to-riches story rooted in extreme hardship. He was forced to drop out of elementary school when the Indonesian government did not allow young people with Chinese names to study in the country, forcing him to adopt the Indonesian name Djoko Susanto and study outside of school.

At age 17, he began working in his parents' modest food stall in a traditional market. The stall was severely damaged in a fire in 1976. Susanto's entrepreneurial drive was immediate: he pivoted to selling cigarettes, a strategy that quickly proved highly successful and attracted the attention of clove cigarette magnate, Putera Sampoerna.

Career Journey of Djoko Susanto


Djoko Susanto's partnership with Putera Sampoerna led to the founding of Alfa Minimart (later Alfamart) in 1989. His strategic vision was audacious: create a massive chain of convenient and affordable minimarts aimed at Indonesia's lower- to middle-class customers, filling a crucial gap in the retail landscape. The company expanded rapidly through a mix of owned and franchised stores.

The company faced financial restructuring when Putera Sampoerna sold his majority stake to Philip Morris, which had no interest in retail. Susanto seized the opportunity, buying back the stake alongside a private equity investor and later buying out the investor, regaining 65 percent ownership of the company. Alfamart has grown into a dominant force, with its stock price quadrupling in two years, catapulting Susanto into the billionaire ranks. His success is a testament to the long-term profitability of mastering convenience and affordability in a massive, essential consumer market.

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Djoko Susanto's Timeline


Age 6:

Forced to drop out of elementary school due to government restrictions on Chinese names (Pivotal Event).

Age 17:

Starts managing his parents' food stall (Early Career).

1976:

The family business suffers a fire; he pivots to selling cigarettes (Pivotal Decision).

1989:

Founds Alfa Minimart (Alfamart) (Founding).

1999:

Alfamart expands into grocery stores (Strategic Diversification).

Ongoing:

Regains 65 percent ownership of Alfamart after purchasing stakes from Philip Morris and Northstar (Ownership Consolidation).

Major Business Ventures and Investments


Djoko Susanto's wealth is concentrated in his founding and controlling ownership of the publicly traded retail giant, Alfamart (AMRT: IDX).

  • Alfamart (Founder & Controlling Shareholder): The core private asset, Indonesia's largest minimart and convenience store chain. Its success is built on scale, convenience, and low prices.
  • Retail and Wholesale: His fortune is tied to his mastery of high-volume, low-margin retail and wholesale trade.
  • Investment in Real Estate: The company has interests in property development and other diversified assets.
  • Founding Strategy: His success is built on his early gamble on selling cigarettes at his food stall, which attracted the attention of his major investor.

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Philanthropy and Social Impact


Djoko Susanto's social impact is massive and structural, stemming from Alfamart's role in creating thousands of jobs and providing essential affordable consumer goods and convenience to Indonesia's middle and lower-middle classes. The company's expansion, driven by ethical business practices, develops entrepreneurial spirit through its franchise model.

His personal story, overcoming poverty and educational barriers due to his Chinese name, serves as a powerful inspiration for Indonesian entrepreneurs and a structural contribution to economic mobility.

Fashion, Style, and Lifestyle


Djoko Susanto maintains the modest, pragmatic style of a self-made Indonesian businessman. His attire is consistently professional and conservative, reflecting the stability and efficiency of the discount retail model. His aesthetic is one of focused competence and humility.

Residing in Jakarta, his luxury is the immense security and financial reward derived from his multi-billion dollar fortune. His life is defined by his commitment to building a reliable, ethical, and healthy organization that successfully serves the essential, mass-market consumer needs of Indonesia.

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Quotes and Philosophy


No publicly available quotes.

Fun Facts & Trivia


  • He was forced to drop out of elementary school due to Indonesian government restrictions on Chinese names.
  • He founded Alfamart, Indonesia's largest minimart chain.
  • His early success came from pivoting to selling cigarettes at his parents' food stall.
  • He regained 65 percent ownership of the company after a period of external control.
  • The company's original food stall was named Sumber Bahagia (source of happiness).
  • He was mentored by clove cigarette magnate Putera Sampoerna.
  • His wealth is tied to the massive growth of convenience and low-cost retail in Indonesia.

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Sources & References


This profile is compiled from verified biographical and financial records:

  • Wealth Data: Real-time tracking and historical data from Forbes Billionaires and the Bloomberg Billionaires Index.
  • Biographical Records: Educational and career history sourced from Reuters, The Wall Street Journal, and official university alumni directories.
  • Regulatory Filings: Shareholder and executive disclosures from stock exchange databases, including HKEX, SSE, SZSE, and SEC EDGAR.
  • Corporate History: Primary data from annual company reports, founding charters, and verified press announcements.

All information is cross-referenced with public sources for accuracy; some narrative sections are AI-assisted summaries.

If you find any inaccuracies, please report them to admin@redcarpetlife.in

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