Michael Hartono Net Worth, Age, Family & Biography $23.8B Real Time Net Worth #57 in the world today

Avan Parvadiya — Thu, 29 Feb 2024 11:52:40 +0000

About Michael Hartono

Meet Indonesian businessman and billionaire Michael Bambang Hartono, who is well-known in the business community. Michael Budi is the proud owner, along with his brother Robert Budi, of Djarum, a well-known manufacturer of kretek that is now a household name throughout Indonesia and beyond. But Michael’s success story didn’t start there. In fact, he inherited the company from his father, Oei Wie Gwan, upon his death in 1963. However, Michael has taken control and continued to steer Djarum towards greater heights, building upon the foundation that his father had laid down.

Michael has helped Djarum become one of Indonesia’s most successful tobacco companies with his keen business tactics and spirit for starting his own business. He has also become one of the wealthiest people in the country as a result, with an impressive net worth. Let’s take a bit closer look at Michael Bambang Hartono, his journey to success, and the legacy he is leaving behind.

Hartono and brother Robert are the richest men in Indonesia

Michael Hartono Family

Michael Hartono was born in Kudus, Central Java, on October 2, 1939. In April 1951, his father, Oei Wie Gwan, bought a small Kretek cigarette factory and changed its name to Djarum Grammophon. The cigarette organisation developed under the two siblings, making its most memorable commodity in 1972 and presenting new items.

Michael Hartono Career

Beginning their career in the financial business through Haga Bank and Hagakita Bank, the siblings under the Mauritius-enlisted partnership FarIndo Interests in a consortium with Farallon Capital took more than 51.15% of Bank Focal Asia in 2002, overcoming different bidders regardless of making a lower offer.

With a 19 % market share in 2012, the cigarette brand is now one of the largest in Indonesia. The group started expanding into other industries as the cigarette industry continued to grow, establishing the electronics brand Polytron in 1975. The group also entered into palm oil, papermaking, and communication towers businesses.

Michael Hartono Facts

Bambang is good at bridge. He said in an interview that “bridge is how you train yourself in making good decisions and risk-taking” and that his uncle taught him the game while Indonesia was under Japanese occupation. He competed in the bridge for Indonesia at the 2018 Asian Games. He and his team won a bronze medal in the Supermixed team competition, making him the oldest Indonesian to win a medal at the Asian Games.

Michael Bambang Hartono, co-owner of Djarum Group, speaks during an interview in Jakarta, Indonesia, on Aug. 21, 2018. Hartono, the 78-year-old tycoon and professional bridge player, whose family fortune spans from tobacco to banking and telecom, is bidding to become Indonesia’s oldest Asian Games medal winner.