Michael Bambang Hartono Passes Away: Full List of His Rp297 Trillion Business Empire
Indonesian business circles are mourning the loss of Michael Bambang Hartono, owner of the Djarum Group and majority shareholder of Bank Central Asia (BCA), who reportedly passed away on Thursday, 19 March 2026, in Singapore at the age of 86.
The departure of the figure affectionately known as Bambang Hartono leaves behind an extensive business legacy. Alongside his brother Robert Budi Hartono, he successfully diversified the family business from a mere cigarette factory into a giant conglomerate touching almost every aspect of Indonesia’s economy.
The following are the main business sectors managed by Michael Bambang Hartono under the Djarum Group banner:
The most valuable asset in Michael Bambang Hartono’s portfolio is PT Bank Central Asia Tbk (BBCA). Through PT Dwimuria Investama Andalan, the Hartono brothers control the majority of shares in Indonesia’s largest private bank. The consistent rise in BBCA’s share price has been the primary driver of their position as Indonesia’s richest individuals for years.
PT Djarum is the root of the Hartono family’s business, founded by their father, Oei Wie Gwan. Currently, Djarum is one of the world’s largest producers of clove cigarettes, with a strong export market share reaching the United States and Europe.
Through PT Hartono Istana Teknologi, they own the Polytron brand. Notably, in 2025-2026, Polytron made a significant leap by mass-producing electric vehicles (EVs) and electric motorcycles, solidifying their position in the future technology industry.
The Djarum Group is highly aggressive in the digital sector through its subsidiary, PT Global Digital Niaga Tbk (BELI), which oversees:
Through PT Sarana Menara Nusantara Tbk (TOWR), Michael Bambang Hartono controls thousands of telecommunications towers across Indonesia, rented to various mobile operators.
Their property portfolio includes several iconic landmarks in Jakarta, among others:
Latest Information: Based on Forbes data as of March 2026, Michael Bambang Hartono’s wealth is estimated at US$17.5 billion, equivalent to Rp297.5 trillion.
In addition to the sectors above, Michael Bambang Hartono also has investments in:
Michael Bambang Hartono was also known as an accomplished bridge athlete who contributed a bronze medal to Indonesia at the 2018 Asian Games. His simplicity and sharp business instincts will always serve as an inspiration to the national business world.