Erick Thohir is a name that resonates not only in his native Indonesia but across the international business forum, with his reach extending to Italian and American sports, media conglomerates, and more recently, the highest echelons of Indonesian government. Known as a business maven with a strategic, international vision, Thohir has built a multifaceted empire spanning from media to sports management, and, as of 2019, he serves as Indonesia’s Minister of State-Owned Enterprises (SOEs). Also in the Prabowo Subianto‘s presidency era, Erick remaining trusted to be one among senior ministry. This remarkable journey reflects a blend of entrepreneurial spirit, a passion for sports, and an unyielding commitment to elevate Indonesia’s presence on the global stage.
Erick Thohir was born on May 30, 1970, into a well-established entrepreneurial family in Jakarta. His father, Teddy Thohir, co-founded the Astra International Group, one of Indonesia’s largest conglomerates. Growing up, Erick was immersed in a culture of business and entrepreneurship, a background that would lay the groundwork for his future ventures. He pursued a Bachelor’s degree in Communications at Glendale Community College in the United States before obtaining an MBA from the National University of California, La Jolla. These academic experiences, combined with his exposure to Western business practices, sharpened his understanding of global markets and media trends.
After returning to Indonesia, Erick’s entrepreneurial spirit led him to establish the Mahaka Group in 1992. Starting as a media company, Mahaka grew into a diversified conglomerate with holdings in print, television, and radio. Notable assets included the influential daily Republika, and multiple radio stations such as Gen FM and Jak FM. His strategic acquisitions and growth in media have had a profound impact on Indonesia’s media landscape, with Mahaka becoming a major player in disseminating news and entertainment.
Foray into Sports and Global Ventures
Erick’s love for sports extended beyond mere passion; he viewed it as an opportunity to bring Indonesia closer to the global sphere. In 2013, Thohir made headlines when he acquired a majority stake in the Italian football club Inter Milan, becoming the first Indonesian and one of the few Southeast Asians to control a major European club. This was a historic moment, as Thohir’s leadership marked a new era for Inter Milan. His tenure saw substantial changes aimed at restoring the club’s competitive edge, from rebranding efforts to financial restructuring. Thohir eventually sold his shares in 2019, yet his impact on the club and Italian football as a whole remains noteworthy.
In addition to Inter Milan, Thohir’s sporting interests crossed over into American basketball. He co-owned the Philadelphia 76ers, an NBA team, alongside prominent figures such as Will Smith. His involvement with the NBA and Serie A not only showcased his business acumen but also positioned him as a bridge between Eastern and Western sports, fostering stronger cultural ties through the universal language of sports.
Beyond sports and media, Erick Thohir’s investments are strategically diversified across sectors. His business portfolio includes involvement in hospitality, food and beverage, and technology. Thohir has a talent for identifying opportunities that align with shifting consumer trends, especially in Indonesia’s rapidly growing economy. For example, his involvement with Wahana Group, an automotive distribution company, highlights his flexibility in adapting to various industries, from entertainment to essential goods.
Moreover, Thohir’s commitment to philanthropy is well-documented. He actively supports initiatives that focus on education, poverty alleviation, and youth empowerment in Indonesia. These efforts align with his overarching goal of creating an inclusive and prosperous Indonesia, a vision he continues to uphold in his current role as Minister of State-Owned Enterprises.
A Minister of State-Owned Enterprises, Transforming State Assets
In 2019, Erick Thohir was appointed Minister of State-Owned Enterprises under President Joko Widodo’s administration. This role marked a new chapter in his career, transforming him from a private businessman into a public servant responsible for overseeing more than 100 state-owned enterprises in Indonesia, including Pertamina (energy), Bank Mandiri (finance), and Garuda Indonesia (aviation). His mission as minister is to reform and revitalize these companies, aiming to make them more efficient and competitive on a global scale.
Thohir’s approach to leadership in the ministry draws heavily from his corporate experience. He has implemented several transformative initiatives, including restructuring, performance-based metrics, and anti-corruption measures. Thohir has also emphasized the need for digitalization within SOEs, seeing it as a pathway for modernization and greater transparency. This forward-thinking approach seeks to enhance Indonesia’s economic competitiveness, aligning the country’s business landscape with international standards.
Thohir’s career reflects a blend of risk-taking and strategic patience. His entry into international sports and the Western media market showcases his ability to take bold steps while staying grounded in his Indonesian roots. For entrepreneurs, his career offers several key lessons: the importance of diversification, the power of brand-building, and the value of cross-cultural business ventures.
His work demonstrates that effective leadership requires not only technical skills but a vision that adapts to cultural contexts. Thohir’s focus on bridging East and West through business highlights the potential of cross-cultural exchange in a globalized economy. His impact on Indonesia’s image abroad is also profound; by holding leadership roles in international sports and media, Thohir has positioned Indonesia as an emerging player in the global market.
As he leads Indonesia’s State-Owned Enterprises into a new era, Thohir’s impact reaches beyond economic figures. He is reshaping the narrative of what it means to be an Indonesian entrepreneur, creating a legacy that champions global engagement.
