Sudono Salim facts for kids

Sudono Salim (also known as Lim Sioe Liong) was a very successful Indonesian businessman and banker. He was born on July 16, 1916, and passed away on June 10, 2012. At one point, he was the wealthiest person in Indonesia. He started a huge group of companies called the Salim Group. Later, in 1992, he passed the leadership of his business empire to his youngest son, Anthoni Salim.

Early Life and First Businesses

Sudono Salim was born as Lim Sioe Liong in 1916 in Fuqing, China. He was born in the Year of the Dragon, according to the Chinese zodiac.

In 1936, he moved from China to Kudus, a town in Central Java, Indonesia. He joined his brother and brother-in-law there. They had a company that traded peanut oil. Sudono Salim helped them expand into the clove market. Cloves were in high demand at the time.

While in Kudus, his company also supplied medical items to soldiers. These soldiers were part of the Indonesian National Revolution. During this time, he met Suharto, who was an army officer. After Indonesia became independent, his business grew even more. He gained a leading position in the clove market.

Building a Business Empire

In 1952, Sudono Salim moved to Jakarta, the capital city. He continued to grow his business. He made connections with other Chinese businesspeople in Hong Kong and Singapore. His company that made soap became a main supplier for the Indonesian National Armed Forces.

Expanding into New Areas

Salim then started businesses in other areas. He went into making textiles (fabrics) and offering financial services. In 1957, he helped create Bank Central Asia. This bank became Indonesia's largest private bank. However, after the Asian financial crisis, he had to give control of the bank to the government.

In 1968, Salim gained special rights to control the import of cloves. This meant his company was the main one bringing cloves into the country. He also started Bogasari. This company became Indonesia's biggest producer and supplier of flour. The money earned from these successful companies helped him start Indocement in 1973. Indocement grew into a giant company that makes cement.

Food Production and Leadership Change

In 1990, he created Indofood. This company became Indonesia's largest maker of instant noodles. You might even know some of their products!

By 1992, Sudono Salim decided to hand over the management of the huge Salim Group to his son, Anthoni Salim.

By 1997, the Salim Group was very large. It had assets worth about US$20 billion. It included more than 500 smaller companies and employed over 200,000 people in Indonesia. When the Asian Financial Crisis happened, the group faced a lot of debt. They had to give up control of Bank Central Asia to the Indonesian government in 1998.

During the May 1998 riots, Sudono Salim moved to Singapore for safety. His son stayed in Indonesia to help the family business recover. Sudono Salim later lived in Los Angeles, USA. In 2004, Forbes magazine listed him as one of the wealthiest businesspeople in Southeast Asia.

Personal Life

Sudono Salim had three sons and one daughter.

He passed away peacefully on June 10, 2012, in Singapore. He was almost 96 years old. He is buried in the Lim Chu Kang Cemetery.