Marina Budiman Net Worth: Forbes Named Her Indonesia's Richest Woman, Then Her Number Fell 30%
6 min read
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6 min read
Marina Budiman's net worth was about $5.7 to $5.8 billion, per a Forbes Real-Time Billionaires snapshot from mid-July 2026, ranking her eighth among Indonesian billionaires and the only woman in the national top ten. Eight months earlier, on 10 December 2025, Forbes' annual "Indonesia's 50 Richest" list had put her at $8.2 billion, in eighth place already. And on 22 April 2026, Forbes had named her outright Indonesia's richest woman, with her fortune reported at roughly Rp102.88 trillion.
Three Forbes numbers, one person, eight months. This week's series has shown that gap between publishers before. Marina Budiman's profile shows it inside a single publisher's own tracker, on a fortune built almost entirely on one newly public stock.
| Publisher | Date | Figure | Note |
|---|---|---|---|
| Forbes, "Indonesia's 50 Richest" (annual) | 10 December 2025 | $8.2 billion | #8 nationally, first time in Indonesia's top ten |
| Forbes | 22 April 2026 | Named Indonesia's richest woman | |
| Forbes Real-Time Billionaires | mid-July 2026 | $5.7 to $5.8 billion | #8 nationally, #612 on Forbes' 2026 global list |
The pattern is the same one this series flagged on Low Tuck Kwong and Sukanto Tanoto: an annual list, fixed at one valuation date, and a real-time tracker that repriced her by roughly 30% in the months after. Nothing about her stake changed in that stretch. The stock did.
Almost all of it is one company: PT DCI Indonesia Tbk (ticker DCII), the country's largest data center operator, which Budiman co-founded in 2011 with Otto Toto Sugiri and Han Arming Hanafia. She serves as president commissioner. Before DCI, she and Sugiri had already built Indonesia's first internet service provider, PT Indointernet, in 1994.
Ownership is unusually concentrated for a listed company. Per DCII's shareholder disclosure to the Indonesia Stock Exchange as of 28 February 2026 (reported by StockWatch.id), four people hold about 77.6% of the company between them:
| Holder | Shares | Stake |
|---|---|---|
| Otto Toto Sugiri | 712,784,905 | 29.9% |
| Marina Budiman | 536,505,149 | ~22.51% |
| Han Arming Hanafia | 336,352,227 | ~14.11% |
| Anthoni Salim | 265,033,461 | ~11.12% |
Free float, the shares actually available to trade, was just 18.55% as of the same disclosure. That detail matters for what happens to the stock price when sentiment shifts, and it shows up directly in the next section.
DCII's business kept growing through the first half of 2026: net profit rose 18.74% in the first semester of 2026 compared with the prior half-year, per PintarSaham, as data center capacity expansion continued.
The stock did not move in a straight line with it. On 20 July 2026, DCII closed at Rp190,775, up 0.38% on the day, per a note from KB Valbury Sekuritas reported by Suara.com the next day. The same note flagged a price-to-earnings ratio of 493.7 times, at the high end of the stock's five-year range, against an average daily transaction value of only about Rp479.8 million, thin trading for a company this large. KB Valbury's conclusion: a premium valuation paired with low liquidity is a combination that can swing the price hard in either direction, and it rated the stock Non-Rated rather than a buy or sell call.
The concentrated, thinly traded structure described above is exactly why a stock like this can move that hard in three days. It is the same mechanism KB Valbury flagged again in July 2026, more than a year later: when four holders control most of the float, a small shift in the willing buyers on any given day can move the price disproportionately.
More knowable than most of this series, in one sense: DCII is a fully listed, IDX-disclosed company, and Budiman's stake is a matter of public shareholder record, not a private holding company several layers removed. That puts her closer to Jensen Huang's Nvidia stake than to a wholly private conglomerate.
But the number is unusually volatile for a reason distinct from anything else this series has covered. It is not that trackers disagree on methodology, the way Forbes and Bloomberg disagree over Jensen Huang's foundation shares. It is that the underlying stock itself is priced by very few trades a day on a very expensive multiple, so the "true" market value each tracker is pricing off of can itself be unstable within the same week. Forbes' own 30% gap between its December 2025 annual figure and its mid-2026 real-time figure is one publisher, one methodology, and still a very large swing.
Budiman's fortune is the clearest single-stock story in this series: one company, one hot sector, and four people holding more than three-quarters of the float between them. That combination can produce spectacular gains, which is exactly what carried her into Indonesia's top ten in the first place, and it can also produce the kind of three-day air pocket that hit DCII in March 2025. Thin liquidity does not create the risk. It amplifies whatever risk was already there.
NetWort's Holdings view shows what percentage of your own portfolio sits in any single position today, not what it was when you bought it, so a concentrated bet does not stay invisible until a bad week reveals it. If you want the mechanics of exactly how much a heavy weighting costs on a bad day, portfolio concentration risk walks through the math with a real example.