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How Can Jerry Ng’s Assets Increase Rp 4 T in an Instant?


The name Jerry Ng is the latest spotlight in the list of the richest people in Indonesia. The figure of this senior banker managed to penetrate the top 5 of the Forbes list of the richest people, even in just a matter of months.

Jerry made his debut in the Forbes magazine’s list of 50 richest people in Indonesia at the end of 2020. In notes detik.comAt that time Jerry recorded a fortune of US $ 600 million. However, now he has penetrated the top 5 richest people on the list.

In the latest list of The World’s Real-Time Billionaires compiled by Forbes, Jerry as of Thursday (29/7/2021) this afternoon has a total assets of US$ 4.9 billion or around Rp. 71 trillion (exchange rate of Rp. 14,500). His wealth also increased by around US$ 268 million or around Rp 3.8 trillion per day.

Then, where did Jerry get that much wealth from?

According to Forbes, Jerry’s success in collecting that much wealth was obtained mainly from Bank Jago. Now Jerry serves as the main commissioner of the company.

According to detikcom records, in 2019, Jerry and his partner Patrick Walujo acquired 51% of Bank Artos shares. Jerry holds a 37.65 percent stake through Metamorphosis Ecosystem Indonesia (MEI), and Patrick 13.35% through Wealth Track Technology Limited. The portion of shares pocketed by Jerry Ng is equivalent to 454,153,125 shares.

In early 2020, Bank Artos conducted a rights issue with funds of Rp 1.34 trillion. Then, Bank Artos changed its name to PT Bank Jago Tbk alias Bank Jago.

After the corporate action, the performance of Bank Jago’s shares continued to climb. On an annual basis, aka year to year, Bank Jago’s shares with the code ARTO have increased by 691%.

From the initial price of IDR 2,322 on July 30, 2020, it has now reached IDR 18,375 per share. The price increase for a share of Bank Jago has reached Rp 16,052 per year.

Simply put, just multiply the number of shares owned by Jerry by the same price increase of Rp. 16,052/share. From there, it has been illustrated how Jerry’s assets can be shot up thanks to the increase in Bank Jago’s stock price.



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