As Soeharto gets weaker and weaker, his fortune gets bigger and bigger
Perspektif Online
02 November 2007
Wimar Witoelar
Some people say, including respected New York Times reporter Seth Mydans, that Soeharto is fading away. But some people note, including yours truly, that his fortune is getting bigger and bigger. His ill-gotten gains have been estimated at anywhere between USD 15 billion and USD 35 billion. Supposing for the sake of argument that the figure is USD 25 billion. Puttimg that in a medium-risk growth fund, you could easily get 25% per annum on a medium-to-long term basis. So from Soeharto's holdings, any intelligent investor could get USD 6.25 billion per year or almost Rp 57 billion (dalam bahasa Indonesia, hampir Rp 57 Milyard). That is the amount people accuse gubernatorial campaigners to have pumped in the recent Jakarta Pilkada (local elections) as political money.
So, if people wonder where all the "bad guy" candidates get their campaign funds, there is at least one answer here. People who remain friendly to the Soeharto family and friends (hence the Soeharto estate) can hope to gain access to incredibly huge sums of money. Remember the Rp 57 billion hypothesized above is just the fund yield. The principle remains intact.
which one has more money?
How long the money lasts depends on the management, i.e. disbursement policies and financial strategies. Hence the small Soeharto coterie would include trusted political aides as well as sharp fund managers from Hong Kong, Geneva and New York. Soeharto is no longer courted by political believers (that was a doubtful notion to begin with), but ambitious politicians and savvy financial wizards.
Remember that grim fact when you let your notions of historical justice run away with your passions. Justice is not to be rewarded. Selfishness is, by loads and loads of money. Sycophancy - in the dictionary definition, fawning obsequiousness – will yield money.
Then you make your own power, as far from Soeharto as you can.
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