Looking at multimillionaire investor Sandiaga Uno’s political career, one might be tempted to conclude he is an also-ran, given the field of competitors he is up against. But those familiar with the rough and tumble of Indonesian politics will take the long view that he is likely to continue to parlay his political capital well. From first clinching the post of deputy governor of capital city Jakarta in 2017 to taking on President Joko Widodo as an opposing vice-presidential candidate in the 2019 polls and then being inducted as a member of the latter’s cabinet over the past four years, Sandiaga has managed to stay in the spotlight. Now, speculation is rife he might fancy a run for the top job. In an interview with This Week in Asia while in Hong Kong last week, the tycoon turned tourism and creative-economy minister did not rule out running but remained tight-lipped about his next moves. Jokowi the kingmaker? Search for a successor grips Indonesia’s ruling party He also found himself at an apt platform to raise his international profile – speaking at a forum on China-Asean connectivity in the post-pandemic era – as whispers of a potential run continued to gain traction back home. In the crowd at the forum held by the Hong Kong-Asean Foundation were business partners and friends, and the minister spoke fondly of his connections with the city and how it gave him a leg up in his business ventures. Asked during a fireside chat whether he wanted to be his country’s next president, Sandiaga, 53, grinned and insisted he was only focused on the task at hand. As political parties begin announcing their presidential candidates with Widodo, 61, stepping down after serving the two-term limit set for the presidency, the minister said a worthy track record would speak for itself. “The last time I said I’m ready, I got into trouble because it actually is quite complex, Indonesian politics,” he said to laughter from the audience. “Because president and vice-president nominations are being done by political parties, and these are larger than life figures.” But if he seeks the presidency, Sandiaga faces a tough battle ahead with polls still showing him falling short of current front runners, partly because he has not shown his hand. His task now, he said, was to deliver on key targets of 7.4 million tourist arrivals and the creation of 4.4 million jobs set for him. “Let the numbers speak for themselves and political leaders would consider that,” he said. Loyalty to Prabowo In the 2019 election, Sandiaga ran as a vice-presidential candidate sidekick to Widodo’s rival-turned-ally Prabowo Subianto, 71. After losing, he and Prabowo’s Gerindra party joined Widodo’s ruling coalition, with both landing cabinet positions , the latter as defence minister. Sandiaga was said to have spent US$100 million on his vice-presidential bid, a big chunk of his reported US$349 million net worth. At the Hong Kong forum, he quipped, “I have been saying when I left business to join politics, that I do this wholeheartedly to contribute because politics is very expensive in Indonesia. I actually lost a lot … I sold many portfolio companies to fund my political endeavours.” That kind of money goes a long way in Indonesian politics, analysts say, and might be one of the factors playing in his favour as parties begin to look for vice-presidential candidates. “Sandi has some strong vice-presidential traits: he’s young, he’s popular and he’s rich. And to be a vice-president in Indonesia, you have to have at least one of those traits,” said Yoes C. Kenawas, a PhD candidate in political science at Northwestern University in the US. “[Sandiaga’s] financial capital and networks will certainly bring great benefits to a presidential candidate.” A former business partner in Hong Kong and venture capitalist, Kin Chan, said Sandi was the model Indonesian pribumi (native Indonesian) with his credentials as a successful entrepreneur who made his own fortune and had little connections to break into politics. “We need more such role models who will be good for Indonesia’s future.” Indonesia’s top contender for presidency sparks backlash after ‘ready’ comment According to a February poll from national newspaper Kompas, however, he is not nearly as popular as the top three candidates running for presidency: former Jakarta governor Anies Baswedan, Central Java governor Ganjar Pranowo and Prabowo. But he did rank as a top vice-presidential candidate for Prabowo, placed second for Anies, and third for Ganjar. One thing holding him back from running as president might just be his loyalty to long-time ally Prabowo, say observers. “Sandiaga’s continued loyalty to Prabowo, who has announced his intention to run for president in the 2024 election, may restrict his room to manoeuvre,” said Dedi Dinarto, lead Indonesia analyst at public policy advisory firm Global Counsel. But Prabowo is keeping mum on his vice-presidential choice. Given the fight is likely to be close with no one having the advantages of incumbency, he will want to build ties with other parties and to gain Widodo’s support. Last week, an appearance with front runner Ganjar and Widodo prompted observers to suggest it could be the first hint of an alliance between the two popular contenders with the president’s blessing. It’s too early to tell but [Prabowo] is building his coalitions. I wish him luck. Should he require my service, it would be an honour Sandiaga Uno “It’s too early to tell but [Prabowo] is building his coalitions. I wish him luck. Should he require my service, it would be an honour. But I could understand, in the spirit of reconciliation, he would be considering other candidates as well. I leave it in his good hands,” Sandiaga told This Week in Asia on the sidelines of the Hong Kong forum. Former teammates Another potential pairing causing excitement among Jakarta’s elite is for Sandiaga to join Anies on the ticket as number two, the way they joined hands and won at the 2017 Jakarta gubernatorial election. But Sandiaga might end up jeopardising his current political standing. The Coalition for Change’s National Democratic Party (Nasdem) – an opposition party – declared its backing for Anies, 53, in October and since then, rumours have surfaced that Widodo, seen as kingmaker in the coming presidential election, was looking to boot out two Nasdem ministers from his cabinet. Could Indonesian conservative Anies Baswedan be nation’s next president? If Sandiaga were to join Anies, he could risk being ousted too, Yoes said. “Sandiaga is in a difficult situation. Because he is part of Jokowi’s cabinet, and associating himself with Anies might jeopardise that. “In the case that Jokowi’s favourite [candidate] wins the next election, Sandiaga’s prospects of playing a role in the next government might be in danger,” Yoes added. Sandiaga, however, did not rule out joining forces with others but appeared to concede that if he wanted to stay on Prabowo’s good side, he might have to turn down other invitations, even from Anies. “I belong to Pak Prabowo’s Gerindra Party and he has unequivocally said no for me to rejoin my former teammates. So I think that’s clear,” Sandiaga said in the This Week in Asia interview. “I’m still here because I’ve been loyal to Prabowo and I think this has served me well in my very early political career.” What’s next? Sandiaga might also continue building on his efforts garnering his popularity with young voters, who, according to analyst Dinarto, will be “key social capital that he can wield” if he runs for vice-presidency. Those aged below 42 make up more than half the voters in the coming election. But for now, Sandiaga appears to want to just let his work do the talking. “I mentioned in the past that it is the responsibility of any citizen to contribute their best to the country, whatever role they are assigned to. Then that gets me into trouble, saying that I’m breaking the party line. So I won’t do it again,” he said. “I believe this time, I’ll stay put, wait patiently. I believe when it’s time, it’s time.”