Jerry Ng Net Worth: Forbes' Real-Time Tracker Puts the Bank Jago Founder at $418 Million, Down From a $3.2 Billion Peak
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6 min read
Jerry Ng's net worth was $418 million, per Forbes' Real-Time Billionaires tracker as of 31 January 2026, the most recent dated figure this series could find for the Bank Jago founder. That is down from a $3.2 billion peak Forbes reported on 14 December 2021, when Bank Jago's stock surge pushed him 32 spots up Indonesia's 50 Richest list to No. 12. He fell to $1.2 billion and No. 35 on Forbes' 7 December 2022 list, the single biggest dollar and percentage decline of anyone on it that year, then dropped off the list entirely by Forbes' 6 December 2023 count. He is not currently on Forbes' annual Indonesia list, but its real-time tracker still prices him, tied almost entirely to his stake in Bank Jago (ARTO), the digital bank he and GoTo co-founder Patrick Walujo built from a small regional lender starting in 2019.
Every dated figure below comes from Forbes, so this is a single-tracker history rather than a comparison across trackers. No dated Bloomberg Billionaires Index figure naming Jerry Ng individually was found despite several searches, consistent with this series' standing finding that Bloomberg prices only a handful of Indonesians by name.
| Date | Publisher | Figure | Context |
|---|---|---|---|
| 14 December 2021 | Forbes (Ardian Wibisono) | $3.2 billion | Rose 32 spots to No. 12 on Indonesia's 50 Richest |
| 7 December 2022 | Forbes, "Indonesia's 50 Richest 2022" | $1.2 billion | No. 35; the list's largest single faller, down 63% and $2 billion |
| 6 December 2023 | Forbes (Ardian Wibisono) | Off the list | Headlined "Veteran Banker Drops Off From The Ranks Of Indonesia's Richest As Digital Banks Lose Their Sheen" |
| 31 January 2026 | Forbes Real-Time Billionaires tracker | $418 million | No annual-list placement; priced in real time only |
This series' own plan for this article flagged the $1.2 billion figure as dating to December 2023. That was a dating error caught during this re-verification: the $1.2 billion figure is Forbes' December 2022 list price. By December 2023, Forbes had already dropped Ng from the ranked list altogether, a full year earlier than planned.
Jerry Ng, born 2 July 1965 in Pontianak, spent more than three decades in Indonesian banking, including senior roles at Bank Central Asia and Bank Danamon Indonesia, and was president director of Bank BTPN until February 2019. In December 2019, entities linked to Ng and to Patrick Walujo, a co-founder of GoTo (Gojek-Tokopedia), closed a rights issue acquiring a combined 51% of PT Bank Artos Indonesia, a small regional lender, diluting its founding Hardy family. Ng's stake, 37.65%, sits through PT Metamorfosis Ekosistem Indonesia (MEI); Walujo's 13.35% sits through Hong Kong-based WTT, per IDN Financials and DealStreetAsia reporting on the deal's close. The renamed Bank Jago repositioned as one of Indonesia's first fully app-based digital banks, with embedded-banking ties into GoTo's super-app ecosystem.
ARTO is present in NetWort's curated ticker universe and resolves correctly to Bank Jago Tbk on the IDX, confirmed this run, so it is linked directly at /asset/ARTO. Free float stood at 27.2% as of April 2026, per StockWatch.id, with Ng still recorded as Bank Jago's ultimate beneficial owner.
Bank Jago's market capitalisation fell roughly 48% over the year to early July 2026, per stockanalysis.com data, with the stock touching a 52-week low of Rp740 on 9 June 2026. Bank Indonesia raised its benchmark rate 25 basis points to 5.50% at its June 2026 meeting, and analysts covering the sector flagged slowing credit growth and a modest rise in non-performing loans at digital lenders as headwinds, a sector-wide pressure rather than a Bank Jago-specific event.
Separately, Bloomberg reported on 9 July 2026 that Ng and Walujo were weighing strategic options for both Bank Jago and PT BFI Finance Indonesia, another company Ng controls through Trinugraha Capital & Co, with Goldman Sachs advising on the review. One option under consideration was a merger of the two, which Bloomberg estimated would create a combined entity worth about Rp25 trillion ($1.4 billion). Kompas reported the same story in Indonesian the same day. Both companies declined to comment on the speculation, and no deal had been confirmed as of this writing.
Unusually knowable, mechanically: Bank Jago is a fully listed, daily-priced stock with a disclosed ownership structure, not a private conglomerate where Forbes has to estimate around opaque holdings, the kind of gap this series has flagged for fortunes like Sukanto Tanoto's. What makes Ng's number hard to pin down instead is concentration and volatility: almost his entire tracked fortune sits in one stock, in a subsector, digital banking, that has swung from a 10-figure re-rating to a 90%-plus round trip inside five years. A precisely priced number can still move by billions when nearly all of it depends on one company's stock chart.
Jerry Ng's fortune is a case study in concentration risk rather than valuation uncertainty: the number is easy to source, and it has still fallen by roughly seven-eighths from its peak because almost none of it is diversified away from a single, volatile stock. For related fortunes and mechanisms, see:
NetWort's market page tracks daily movers if you want to see how IDX financial names are trading today.