Jakarta. Singapore-born businessman Low Tuck Kwong, now an Indonesian citizen, purchased a painting by Indonesia’s sixth president, Susilo Bambang Yudhoyono (SBY), for Rp 6.5 billion ($387 thousand) at an auction held during a Lunar New Year celebration.

The artwork, titled “Strong and Energetic Like a Fire Horse,” measures 130 cm by 80 cm. It depicts a blue horse in motion, its mane resembling orange flames. The painting was specially created to mark the Lunar New Year of the Fire Horse and was displayed to invited guests before the auction began.

SBY explained the philosophical meaning behind the piece, saying the “Fire Horse” symbolizes determination, energy, and strength to achieve goals. “Therefore, in this painting, I placed the Fire Horse in a setting, in an atmosphere that is calm and peaceful. The blue here represents peace,” he said.

He added that the dominant blue color is closely associated with peace, similar to the color of the United Nations. He envisioned a Fire Horse filled with determination and energy, yet moving within a serene and harmonious environment.

“There is a Fire Horse that symbolizes determination, strength, and energy to achieve good goals, but within a calm atmosphere of life,” he said. “I painted while praying for the Indonesian nation, so that with the spirit of the Fire Horse, there will be enthusiasm, determination, strength, and togetherness to advance our country,” SBY added.

Low outbid several prominent figures, including businessman Hermanto Tanoko, who offered Rp 6 billion, and content creator Deddy Corbuzier, who bid Rp 1 billion. Other attendees included Syarif Hasan and Dewi Kam.

Low is widely known as one of Indonesia’s wealthiest individuals. He serves as the president director of coal mining company Bayan Resources. According to Forbes, his net worth is estimated at around $20.2 billion, making him the second-richest person in Indonesia.

He also controls Singapore-based renewable energy company Metis Energy and holds business interests in healthcare firm The Farrer Park Company and investment company Samindo Resources.

Beyond business, Low is active in philanthropy. In 2023, the Low Tuck Kwong Foundation reportedly disbursed S$127.6 million, or about $100.9 million, for education and healthcare initiatives in Singapore. One of the largest donations, amounting to S$101 million, was granted to the Lee Kuan Yew School of Public Policy at the National University of Singapore.