Michael Hartono

$20.70 B

Ranked #119 in World

About Michael Hartono

Indonesian magnate Michael Bambang Hartono, with a $22.3 billion net worth by 2022, transformed Djarum, a family-owned clove cigarette company, into a vast empire spanning banking, including a significant stake in Bank Central Asia, electronics with Polytron, and Jakarta real estate. Born in Kudus in 1939, Hartono, along with his brother Robert, managed Djarum's rise to a leading brand in Indonesia's tobacco industry. A seasoned bridge enthusiast, Hartono is also recognized for his Asian Games accomplishments and contributions to bridge sports in Southeast Asia.

Born

October 02, 1939

Source Of Wealth

Banking, Tobacco

Industries

Manufacturing

Citizenship

Indonesia

Residence

Kudus

Michael Bambang Hartono was born on October 2, 1939, in Kudus, Central Java, Indonesia. His father, Oei Wie Gwan, purchased the Djarum Gramophon cigarette factory in 1951 and renamed it Djarum. In 1963, the factory burned down, and his father passed away shortly after. Michael and his brother, Robert Budi, inherited the factory.

Michael studied economics and business at Diponegoro University. After his father's death, he returned to Kudus to take over the family business.

Michael Hartono: Family

Michael Bambang Hartono is married to Widowati Hartono, and they have four children.

Michael Hartono: Career Highlights

Under the leadership of Michael and Robert, the Djarum cigarette company experienced significant growth. In 1972, they made their first export, and by 2012, their cigarette brand had captured a 19% market share in Indonesia.

In addition to the cigarette business, Michael and Robert expanded into other fields. In 1975, they founded the electronics brand Polytron. They also entered the banking sector through Haga Bank and Hagakita Bank.

In 2002, through the FarIndo Investments consortium, they acquired a 51.15% stake in Bank Central Asia (BCA). In 2010, they gained control of the majority of BCA's shares through a deal with UBS. In 2016, the shares were transferred to the Indonesian holding company PT Dwimuria Investama Andalan.

The Djarum group also controls several shopping malls and buildings in Jakarta.

Michael Hartono: Companies

Djarum
Polytron
Haga Bank
Hagakita Bank
Bank Central Asia (BCA)
PT Dwimuria Investama Andalan

Michael Hartono: Major Achievements

Grew Djarum into one of the largest cigarette companies in Indonesia.
Founded the electronics brand Polytron.
Entered the banking sector and acquired a majority stake in Bank Central Asia (BCA).
Controls several shopping malls and buildings in Jakarta.

Michael Hartono: Awards & Achievements

Received an award from the World Bridge Federation in 2017 for making bridge a category in the Asian Games.
Represented Indonesia at the Asian Games 2018 and won a bronze medal in the Supermixed team event.

Oldest Indonesian Asian Games medal winner.
Part of Indonesian teams that won bronze medals in international bridge competitions.

Michael Hartono: Personal Life & Legacy

Michael Bambang Hartono lives in Kudus, Indonesia. He is known for his philanthropy and support of various social causes. He is also a bridge player and has made significant contributions to the sport in Indonesia.

Michael Hartono: Trivia

Michael Bambang Hartono is the richest person in Indonesia and one of the wealthiest individuals in the world.
He is an avid bridge player and has represented Indonesia in international competitions.
He is the oldest Indonesian Asian Games medal winner.

Wealth History

Timeline

2 October 1939

Michael Bambang Hartono was born in Kudus, Central Java.

1951

Michael's father purchased Djarum Gramophon cigarette factory and renamed it to Djarum.

1963

Djarum factory burned down and Michael's father passed away shortly after. Michael and his brother Robert inherited the factory.

1972

Michael and Robert's cigarette company made its first export.

1975

Michael and Robert founded the electronics brand Polytron.

2002

Michael and Robert took over 51.15% of Bank Central Asia through FarIndo Investments consortium.

2010

Michael and Robert controlled the majority of BCA's shares after a deal with UBS.

2016

Michael and Robert's shares were transferred to Indonesian holding company PT Dwimuria Investama Andalan.

2017

Michael received an award from the World Bridge Federation for making bridge a category in the Asian Games.

2018

Michael represented Indonesia at the Asian Games and won a bronze medal in the Supermixed team event, becoming the oldest Indonesian Asian Games medal winner.

Michael Hartono : FAQs

What is Michael Hartono's net worth?

As of 2025, Michael Hartono's net worth was $20.70 billion.

What are Michael Hartono's main sources of wealth?

Michael Hartono's main source of income comes from Banking, Tobacco.

In which industry does Michael Hartono primarily operate?

Michael Hartono is primarily involved in the Manufacturing industry.

How many children does Michael Hartono have?

Michael Hartono has 4 children.

How did Michael Bambang Hartono rise to prominence in the business world?

He inherited the cigarette company Djarum from his father in 1963 and, along with his brother, expanded it into a large conglomerate that includes Bank Central Asia and electronics among other ventures.

What are some pivotal moments in Michael Bambang Hartono's career?

His career highlights include his first export of cigarettes in 1972, creating the electronics brand Polytron in 1975, and acquiring a controlling stake in Bank Central Asia through various strategic deals between 2002 and 2016.

How is Michael Bambang Hartono involved in the sport of bridge?

He is a passionate bridge player who has supported the sport in Indonesia, served as the president of the South East Asia Bridge Federation, and has won medals, including a bronze at the 2018 Asian Games, making him the oldest Indonesian Asian Games medal winner.