His father, Idris Marah Bagindo, was a trader who migrated from West Sumatra to Jakarta.

[2] Fahmi studied at Faculty of Economics University of Indonesia where he was a chairman of the student council.

In 1978, he co-established Kodel (Kongsi Delapan) Group with Soegeng Saryadi, Aburizal Bakrie, Pontjo Sutowo, and Said Umar Husin, and became president director.

The group continuously expanded its business into wide ranging sectors, such as insurance, chemicals, agribusiness, banking, real estate, and hotels.

In 1998, he sat on the central board of party and in that year was appointed Minister of Manpower and Transmigration.