Prajogo Pangestu, the son of a rubber trader, began his entrepreneurial career in the forestry industry in the late 1970s. His company, Barito Pacific Lumber, went public in 1993 and was renamed Barito Pacific in 2007, after it reduced its emphasis on lumber. In 2007, Barito Pacific also acquired a 70% stake in Chandra Asri, a petrochemical business listed on the Indonesia Stock Exchange. In order to establish itself as the largest integrated petrochemical manufacturer in Indonesia, Chandra Asri merged with Tri Polyta Indonesia in 2011. Thaioil acquired a 15% stake in Chandra Asri in July 2021, increasing its market position even further.
In March 2023, Pangestu took his coal mining firm, Petrindo Jaya Kreasi, public. Six months later, in October 2023, he listed Barito Renewables Energy, marking his entry into the renewable energy sector. These strategic moves demonstrate Pangestu's commitment to diversifying his investments and adapting to evolving market trends. His ventures have significantly influenced Indonesia's industrial landscape, establishing him as a key figure in the country's business community.