Username  Password   Forget your password? | Contact Us
Current Cover

Indonesia’s Riady family making U.S. comeback

In 2001, the U.S. Department of Justice fined Indonesian tycoon James Riady $8.6 million for violating federal election laws restricting foreign campaign financing in his contributions to Bill Clinton's presidential campaign. Recently, Riady's family "market its American comeback" by acquiring the U.S. Bank Tower in Los Angeles for $367.5 million through OUE, an entity controlled by the Riady family, the Financial Times reported.

The Riadys, devout evangelical Christians, are an ethnic Chinese family from Indonesia. Their Lippo Group is an "amorphous collection of hundreds of companies" with investments in real estate, health care, retail, technology and education throughout Asia, the FT article said.

Founder Mochtar Riady, 84, works with his sons James and Stephen. The FT article said the family was "forced to revamp their property, retail and banking empire in response to their U.S. problems and the financial crisis that hit Indonesia in 1997." They reaped the rewards of Indonesia's economic recovery, the report noted.

James Riady overseas the group's interests in Indonesia; Stephen is in charge of businesses in Singapore and the rest of Asia. The third generation is moving into key roles, the FT article said. (Source: Financial Times, Oct. 14, 2013.)

Get the RSS Feed

Recent Posts

VW’s CFO faces challenges as scandal costs mount

Cargill to spin off and divide its Black River unit

Comcast to buy controlling stake in Universal Studios Japan

Wealthy families driving M&A in Europe

Hillerich & Bradsby files suit over share price

N.Y. Times analysis: VW’s board to blame for scandal

VW to name Porsche chief as CEO

AB InBev-SABMiller merger would create opportunity for Molson Coors

Santander announces plans to cut costs and strengthen capital

Axel Springer in talks to acquire Business Insider

Monthly Archives

September 2015

August 2015

July 2015

June 2015

May 2015

April 2015

March 2015

February 2015

January 2015

December 2014

November 2014

October 2014

September 2014

August 2014

July 2014

June 2014

May 2014

April 2014

March 2014

February 2014

January 2014

December 2013

November 2013

October 2013

September 2013

August 2013

July 2013

June 2013

May 2013

April 2013

March 2013

February 2013

January 2013

December 2012

November 2012

October 2012

September 2012

August 2012

July 2012

June 2012

May 2012

April 2012

March 2012

February 2012

January 2012

December 2011

November 2011

October 2011

September 2011

August 2011

July 2011

June 2011

May 2011

April 2011

March 2011

February 2011

January 2011

December 2010

November 2010

October 2010

September 2010

August 2010

July 2010

June 2010

May 2010

April 2010

March 2010

February 2010

January 2010

December 2009

November 2009

October 2009

September 2009

August 2009

July 2009

May 2009

Complete Archives

Family Business Publishing Company • 1845 Walnut Street • Suite 900 • Philadelphia, PA 19103 • (800) 637-4464