Ciputra
Encyclopedia
Ciputra is an Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...

n businessman who owns Ciputra Development, a property companies in Indonesia, and Ciputra Group. Ciputra was the 30th richest Indonesian according to GlobeAsia Magazine
GlobeAsia Magazine
GlobeAsia Magazine is an Indonesian business magazine. Similar to Forbes Magazine, it distributes its own lists of Indonesia's wealthiest people, Indonesia's biggest companies, and more. Its founder is Tanri Abeng....

, with a total of US$350 million. He is also the 8th biggest philanthropist
Philanthropist
A philanthropist is someone who engages in philanthropy; that is, someone who donates his or her time, money, and/or reputation to charitable causes...

in Indonesia.

During the 1998 Asian Financial Crisis that hit Indonesia hard, many bond and stock investors of Ciputra's publicly owned companies suffered financially as the value of their investments plummeted, resulting in some of those companies becoming insolvent. Many depositors in Bank Ciputra lost their money as the Government of Indonesia decided to close the mismanaged bank as mandated by the IMF.
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