Media Kampung \u2013 20 March 2026 | Michael Bambang Hartono passed away\non 19 March 2026 in Singapore at the age of 86, leaving behind a\nbusiness legacy that encompasses cigarettes, banking, property,\ntechnology, and culinary ventures.<\/p>\n
Hartono, along with his brother Robert Budi Hartono, managed the\nDjarum Group, which originated from the Oei Wie Gwan kretek cigarette\nfactory in 1951 and is now Indonesia\u2019s largest kretek cigarette\nproducer.<\/p>\n
Djarum produces well-known brands such as Djarum Super, Djarum Black,\nand L.A., and has been exporting products to international markets since\nthe early 1970s.<\/p>\n
The success of Djarum in the tobacco sector provided the capital for\nthe Hartono family to acquire a majority stake in Bank Central Asia\n(BCA) through PT Dwimuria Investama Andalan, with indirect ownership of\naround 55%.<\/p>\n
At the end of 2025, Michael Hartono\u2019s direct shareholding in BCA was\nrecorded at approximately 27.02 million shares, equivalent to 0.022%,\naffirming their position as the largest shareholders in Indonesia\u2019s\nbiggest bank.<\/p>\n
Business diversification continued into the electronics sector\nthrough PT Hartono Istana Teknologi (Polytron), which manufactures\ntelevisions, refrigerators, air conditioners, and mobile phones under\nlocal brands.<\/p>\n
In the realms of e-commerce and media, the group controls PT Global\nDigital Prima Venture, which oversees platforms such as Blibli.com,\nKaskus, Mindtalk, Crazymarket, and DailySocial.net.<\/p>\n
The property sector is also a stronghold; the company manages Grand\nIndonesia Mall, Kempinski Hotel, as well as mid-to-lower projects like\nWorld Trade Center Mangga Dua, Mall Daan Mogot, and residential\ncomplexes in Karawang.<\/p>\n
Hartono expanded into the food retail business through PT Supra Boga\nLestari (RANC), operator of the Ranch Market supermarket chain, and PT\nSumber Kopi Prima, which produces coffee brands Caffino and Kopi\nGadjah.<\/p>\n
In the agriculture sector, PT Hartono Plantation Indonesia manages\npalm oil plantations in West Kalimantan as well as clove, tobacco,\nsugarcane, and essential oil crops.<\/p>\n
Investment in telecommunications infrastructure is realised through\nPT Sarana Menara Nusantara (TOWR), the largest cellular tower operator\nthat leases thousands of towers to mobile network operators.<\/p>\n
Forbes recorded Michael Hartono\u2019s net worth at US$17.5 billion\n(approximately Rp 297 trillion) in 2025, placing him at 158th on the\nworld\u2019s richest list and second richest in Indonesia.<\/p>\n
The Hartono family is also known for active philanthropy, supporting\neducation, health, and culture through Yayasan Djarum, which runs\nscholarships and arts programmes.<\/p>\n
An official statement from Djarum Group\u2019s Senior Corporate\nCommunication Manager, Budi Darmawan, expressed deep sorrow over\nHartono\u2019s passing and reaffirmed the company\u2019s commitment to continuing\nthe founder\u2019s vision.<\/p>\n
Michael Bambang Hartono\u2019s legacy remains evident in the network of\nbusinesses spread across finance, manufacturing, property, and\ntechnology sectors, as well as in the evolving social contributions.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/michael-bambang-hartono-the-djarum-entrepreneur-who-developed-the-retail-business-1774014685", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }