A Coal Tycoon Is Making Billions in a World Aiming to Go Green
- Bayan Resources revenue has surged and shares trade near peak
- The founder owns a stake valued at more than $6 billion
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Before the pandemic began, Low Tuck Kwong tried -- and failed -- to sell a stake in his Indonesian mining company. Unable to find the right buyer, he decided to double down, adding shares instead of paring them.
The bet paid off: PT Bayan Resources’ stock has more than doubled since, making Low one of the wealthiest people in the industry, according to the Bloomberg Billionaires Index. His stake, now at 61%, is worth $6.1 billion.