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Wealthy Indonesians Reap Rewards Regardless of Presidential Outcomes

　　News Summary: Wealthy oligarchs in Indonesia are expected to maintain their economic influence and benefit from the upcoming presidential election, regardless of whether Prabowo Subianto or another candidate wins.

　　Lead: A group of influential Indonesian oligarchs pledges support for presidential candidate Prabowo Subianto, underscoring the enduring dominance of wealth in Indonesian politics as the nation prepares for its presidential election on February 14, 2024.

　　Main Body:

　　In a noteworthy gathering at a Jakarta café last month, Indonesian oligarch Garibaldi Thohir declared the profound economic influence held by the business elite, stating, “In this room maybe one third of Indonesias economy is here.” This statement reflects the significant economic resources that few powerful individuals hold, even as Indonesia prepares for a presidential election that may reshape its political landscape.

　　Thohir's remarks signify a shift in allegiance compared to five years ago when his brother, Erick Thohir, was pivotal in President Joko Widodos campaign against Prabowo. With Widodo unable to run for a third term, he has implicitly endorsed Prabowo, who is contending for the presidency again, this time alongside his son, Gibran Rakabuming Raka, as a vice-presidential candidate.

　　Prabowo, who has faced accusations of rights abuses and was banned from the U.S. for his alleged actions during Indonesia's tumultuous past, expressed gratitude for the newfound support of influential businessmen. He acknowledged the importance of their backing, saying, “I get it now why I lost the presidential election twice; back then, I was not invited here.”

　　The oligarchs' sway over Indonesian politics persists more than two decades after Suhartos fall from power, which heralded a new democratic era. Despite elections and reforms intended to democratize the political system, conglomerates—many of whom amassed wealth during Suharto's rule—continue to dominate political decisions and extract ever-greater profit from Indonesia's vast natural resources.

　　According to reports from the Indonesia Mining Advocacy Network, as many as half of the lawmakers in the modern parliament have ties to the mining sector. Analyst Dedi Dinar to stated, “Indonesia is governed by the oligarchy—the political elites and the business elites—and when it comes to their interests, I think they overlap.”

　　The recent years have seen President Widodo surrounded by political and business elites rather than dismantling this entrenched power. His administrations tactics of leveraging oligarchic support involved compromises with former adversaries including Prabowo, who now acts as defense minister under Widodo's cabinet.

　　Widodo's policies have aimed to position Indonesia as the world's fourth-largest economy by 2045, yet have largely benefited the wealthy. Forbes reported a staggering 40 percent increase in wealth among the nation's richest individuals last year, amounting to $252 billion.

　　The issue remains compounded by various regulations that continue to pamper oligarchs and reduce opportunities for broader representation. Journalists have raised concerns about electoral representation remaining largely out of reach for ordinary citizens, as presidential candidates must secure significant backing from existing parties or a certain percentage of parliament members—a rule that has yet to be overturned despite being challenged in the constitutional court numerous times.

　　Critics of Widodos administration have also pointed out attempts to limit the anti-graft body, leading to perceptions of “democratic regression.” In addition to facing pushback from social movements, corruption remains high, with a 2023 ranking from Transparency International placing Indonesia at 115th out of 180 in its Corruption Perception Index.

　　The notion of dynastic politics is further incentivized by Widodo‘s strategies to ensure his legacy through his children’s political involvement. His eldest son running alongside Prabowo has raised alarms regarding potential conflicts of interest and whether these familial ties further entrench the oligarchic class into governance.

　　As Indonesia approaches the presidential election on February 14 and faces significant scrutiny from international observers concerned about potential authoritarian shifts, the focus remains on how the oligarchs will continue to shape the electoral landscape. With three major candidates in the race all having links to this oligarchic class, the question persists: will democracy flourish, or will the influence of wealth overshadow the voices of the Indonesian populace？

　　Conclusion:

　　The upcoming presidential election in Indonesia presents a crucial moment to assess the long-standing impact of oligarchic power on the nations democracy. As political dynamics continue to evolve amidst various forces, the outcomes will serve as a barometer for the health of Indonesia's democratic institutions and whether it can contain the influence of wealthy elites in favor of greater representation for all citizens. The systemic challenges embedded within the political and economic frameworks offer a persistent reminder of the hard work needed to ensure that Indonesia's democratic ideals are not suffocated by its legacy of oligarchy.

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