According to people familiar with the matter, the Hartono family, the richest family in Indonesia, has invested at least 1.4 billion US dollars overseas, which marks a sharp shift from their traditional practice of keeping their wealth at home. The family invests overseas through entities based in Singapore and London, and the strategy behind it is to diversify revenue sources to other currencies as market unease heats up due to President Prabowo Subianto's policies. The Hartono family's overseas transfers are part of a major trend in capital outflows from Indonesia — Indonesia is experiencing a wave of investor withdrawals, driving the Indonesian rupiah to a record low and triggering a sell-off in the stock market.

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