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Michael Hartono

Michael Hartono

M. Hartono
-0.52% | - $-98.52M
$18.89 B ₹ 1.72 Lk Cr
Real Time Net Worth #146 Ranking as of 21 Feb 2026 By Forbes

More on Michael Hartono

Gender

Male

Age

86Y

Country

Indonesia

Born On

October, 1939

Deceased

No

Relationship Status

Married

Children

4

Education

Unknown

Designation Info :

Self-Made

No

Entrepreneur Type

Inherited (Expanded Family Business)

Primary Organization

Djarum

Titles

Owner

Sources of Wealth

Bank Central Asia, Djarum

Industry

Banking, Tobacco, Real Estate, Investments, Palm Oil

About Michael Hartono


M ichael Bambang Hartono, along with his brother Robert Budi Hartono, is one of the richest people in Indonesia, having inherited and massively expanded the family's business empire. Their fortune originated with the Djarum clove cigarette company, which their father founded and which they took over in 1963 after his death. The brothers modernized and grew Djarum into one of Indonesia's largest and most successful cigarette manufacturers.

While tobacco remains a significant source of their wealth, the brothers astutely diversified their interests. Their most valuable asset is their substantial stake in Bank Central Asia (BCA), one of Indonesia's largest and most profitable banks. They acquired their stake in BCA after the previous owners, the Salim family, lost control during the 1997-98 Asian Financial Crisis. They have also invested heavily in real estate, with a portfolio of prime properties in Jakarta, and have interests in palm oil and electronics. Michael is also an accomplished contract bridge player, having won medals for Indonesia in international competitions.

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Quick Reads


  • He and his brother, Robert Budi Hartono, are perennially ranked as the richest in Indonesia.
  • They own the Djarum clove cigarette company, which they inherited from their father.
  • Their most valuable holding is a large stake in Bank Central Asia (BCA).
  • Also has major investments in real estate and palm oil.
  • He is a world-class contract bridge player and has won medals for Indonesia.

Early Life and Background


Michael Bambang Hartono is an Indonesian businessman, the billionaire Patriarch and Co-owner of the Djarum Group, a massive conglomerate spanning tobacco (Djarum cigarettes), banking (Bank Central Asia - BCA), and telecommunications. His wealth is generational, tied to the empire founded by his late father, Oei Wie Gwan (d. 1963), in 1951.

Hartono's career is defined by generational stewardship and executive leadership in the tobacco, finance, and industrial sectors. He holds a degree from Diponegoro University. His structural role is tied to managing the family's assets across diverse sectors, focusing on long-term stability and financial governance (via BCA).

  • Djarum Group (Patriarch & Co-owner): The core private asset, a massive conglomerate spanning tobacco (Djarum), banking (Bank Central Asia - BCA), and telecommunications. He and his brother Robert Budi Hartono control the empire.
  • Bank Central Asia (BCA) (Major Shareholder): Indonesia's largest private bank (the family holds a substantial stake).
  • Industrial Focus: His success is built on scale manufacturing of kretek (clove) cigarettes and financial services dominance.
  • Sports Focus: He is an avid bridge player, representing Indonesia at the Asian Games (winning a bronze medal in 2018).

Career Journey of Michael Hartono


Michael Hartono's strategic leadership transformed Djarum into a global giant. He and his brother, Robert Budi Hartono, assumed control after their father's death, successfully diversifying the company beyond tobacco. Their structural contribution is immense: orchestrating the strategic acquisition of a controlling stake in Bank Central Asia (BCA) during the Asian Financial Crisis (1997–1998), which became the largest and most valuable private bank in Indonesia.

His wealth is secured by the colossal, long-term, stable profitability of the tobacco, banking, and financial services sectors. His personal passion is reflected in his success as an elite bridge player, demonstrating his commitment to strategy and focus.

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Michael Hartono's Timeline


1963:

His father, Oei Wie Gwan, passes away; Michael and Robert assume control of Djarum (Succession).

1990s (Late):

Acquires a controlling stake in Bank Central Asia (BCA) during the Asian Financial Crisis (Strategic Acquisition/Apex).

2018:

Wins a bronze medal in Bridge at the Asian Games (Personal Milestone).

Ongoing:

Continues as Patriarch and Co-owner, guiding the banking and industrial empire (Executive Oversight).

Major Business Ventures and Investments


Michael Hartono's wealth is concentrated in his family's controlling stake and executive leadership of Djarum Group and Bank Central Asia (BCA).

  • Djarum Group (Patriarch & Co-owner): The core private asset, a massive conglomerate spanning tobacco (Djarum), banking (Bank Central Asia - BCA), and telecommunications. He and his brother Robert Budi Hartono control the empire.
  • Bank Central Asia (BCA) (Major Shareholder): Indonesia's largest private bank (the family holds a substantial stake).
  • Industrial Focus: His success is built on scale manufacturing of kretek (clove) cigarettes and financial services dominance.
  • Sports Focus: He is an avid bridge player, representing Indonesia at the Asian Games (winning a bronze medal in 2018).

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Philanthropy and Social Impact


Michael Hartono's social impact is structural, stemming from Djarum Group's role as a massive employer and foundational provider of essential banking and consumer goods in Indonesia. His commitment to education and sports (supporting PB Djarum badminton club and various educational scholarships) provides a major structural contribution to national development. His wealth is a barometer of the success of the modern Indonesian economy.

His personal philanthropy supports various community and educational initiatives.

Fashion, Style, and Lifestyle


Michael Hartono maintains the professional, composed style of a corporate executive. His attire is consistently formal and high-quality, favoring tailored business suits or traditional Indonesian attire. His aesthetic reflects serious authority and stability, typical of a patriarch in the Asian chaebol-like system.

Residing in Kudus, Indonesia, his luxury is the immense security and financial reward derived from his multi-billion dollar fortune. His life is dedicated to corporate governance, investment strategy, and sports patronage.

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Quotes and Philosophy


No publicly available quotes.

Fun Facts & Trivia


  • He and his brother Robert Budi Hartono control the Djarum Group (tobacco, banking, telecom).
  • They acquired a controlling stake in Bank Central Asia (BCA), Indonesia's largest private bank.
  • He is an avid bridge player, winning a bronze medal at the 2018 Asian Games.
  • His family's wealth is tied to the successful diversification outside of tobacco.
  • He holds a degree from Diponegoro University.
  • His wealth is estimated at $23.7 billion (2024 estimate).
  • His philosophy emphasizes long-term asset hold and financial governance.

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Sources & References


This profile is compiled from verified biographical and financial records:

  • Wealth Data: Real-time tracking and historical data from Forbes Billionaires and the Bloomberg Billionaires Index.
  • Biographical Records: Educational and career history sourced from Reuters, The Wall Street Journal, and official university alumni directories.
  • Regulatory Filings: Shareholder and executive disclosures from stock exchange databases, including HKEX, SSE, SZSE, and SEC EDGAR.
  • Corporate History: Primary data from annual company reports, founding charters, and verified press announcements.

All information is cross-referenced with public sources for accuracy; some narrative sections are AI-assisted summaries.

If you find any inaccuracies, please report them to admin@redcarpetlife.in

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