Jokowi’s Son Buys Soccer Team in City Where Brother is Mayor
- Updates with company confirmation on the ownership structure
- IPO is an option for the football team at a later stage
Joko Widodo, left, his wife Iriana, and youngest son Kaesang Pangarep.
Photographer: Dita Alangkara/AP Photo
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Kaesang Pangarep, the youngest son of Indonesian President Joko Widodo, bought a stake in a football team in his hometown, Solo, where the eldest became the city mayor after winning local elections last year.
Kaesang, as he is popularly known, bought 40% of PT Persis Solo Saestu, said company commissioner Kevin Nugroho, who also acquired a 30% stake. State Enterprises Minister Erick Thohir, also a businessman and a former shareholder of Football Club Internazionale Milano, or Inter Milan, bought 20%, he said, confirming an earlier report by Detik.com.