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Sandiaga Uno is the former Deputy Governor of Jakarta, and a Vice Presidential candidate for the 2019 Indonesia Election.

In April 2017, Tribun-Bali claimed he had a large debt: 8.4 trillion Indonesia Rupiah compared to 3 trillion in assets.

Selain aset-aset tersebut, dalam LHKPN milik Sandi juga tercatat utang sebanyak Rp 8.4 triliun rupiah dan 23.653.682 dollar AS.

[Google translation]

In addition to these assets, the Sandi LHKPN also recorded debts of Rp. 8.4 trillion and 23,653,682 US dollars.

Is Sandiaga massively in debt?

Cœur
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  • Not sure what the downvote was for. We have a notable source making a clear assertion, and a challenge to or at least question of that assertion. – Ben Barden Dec 18 '18 at 19:32
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    The question would be improved by including the portion where the Tribun-Bali talked about his assets as well. For the moment, the only assertion we see here is that he has a debt of that size. For the assertion that he's massively in debt, we'd also have to have the assertion that his total net worth is significantly less than that. – Ben Barden Dec 18 '18 at 19:33
  • I think the quote is pretty clear too. Now the 8.4 trilyun may not be his personal debt. It could be anything. It could be debt of his companies, for example. That's what I want to know. –  Dec 19 '18 at 00:51
  • What is an LHKPN? – Nate Eldredge Dec 19 '18 at 20:29
  • @Nate: Google translates [it](https://id.wikipedia.org/wiki/Laporan_Harta_Kekayaan_Penyelenggara_Negara) as "State Administration Assets Report" - some sort of asset register for state officials, to detect corruption. – Oddthinking Dec 20 '18 at 00:43
  • 8.4 trilyun rupiah is around 560 billion dollar –  Dec 20 '18 at 08:23
  • @user4951 no it isn't, google "8.4 trillion rupiah to dollars" – DenisS Jan 03 '19 at 21:31
  • Given the current exchange rate of the Indonesian currency to the dollar it's actually not that big a debt. https://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=IDR – GordonM Jan 07 '19 at 10:33

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It is either a mis-translation on the part of Google Translate or false.

Forbes ranks Sandiaga Uno as Indonesia's 27th richest person and lists his net worth at $795 million.

Indonesia's 40 Richest

#27 Sandiaga Uno

Net Worth      : $795 million   
Industry       : Coal
Age            : 41
Marital Status : Married, 2 children

"Sandi" cofounded Saratoga Capital in 1998 with Edwin Soeryadjaya (No. 13). Helped turn Adaro Energy, on whose board he sits, into Indonesia's second-biggest coal miner. Lost bid to become chairman of influential Indonesian Chamber of Commerce earlier this year. He spoke in Indonesian language with President Obama at a White House-sponsored entrepreneurship conference. Enjoys basketball and jogging.

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DenisS
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  • Nice response but where do Forbes get their numbers? – Avery Dec 19 '18 at 21:31
  • at the bottom of the page "Methodology - Net worths were calculated using Nov. 15 stock prices and exchange rates. Privately held companies were valued by comparing them to similar publicly traded companies. Unlike the Forbes billionaires ranking, which focuses on individual wealth, the Indonesia list reflects a number of family fortunes. " – DenisS Dec 19 '18 at 21:38
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    So..... You think he has more wealth than debt? Is that how to get listed on Forbes? –  Dec 20 '18 at 07:54
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    Funnily enough, 8.4 trillion + 3 trillion Rupiah equals roughly that mentioned net worth in USD – npst Dec 20 '18 at 11:48
  • @user4951 Net worth is assets - debt. So yes. – DenisS Dec 20 '18 at 13:30
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    @npst: I can't get past what this suggests: He has used his 3 trillion in assets to make an 8.4 trillion dollar loan to buy more assets. In that case, both the original claim would be wrong (he has about 11.4 trillion in assets and an 8.4 trillion loan) and Forbes would be wrong (they haven't subtracted his debt from his net worth). I am purely speculating, so Forbes seems more reliable than my guesses. – Oddthinking Dec 23 '18 at 04:34
  • I intensely dislike the casual use of the slanderous propaganda term "fake news". – DevSolar Jan 07 '19 at 15:22
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    @DevSolar i've removed the term and replaced it with "false" – DenisS Jan 07 '19 at 15:36