Michael Bambang Hartono: The Djarum Entrepreneur Who Developed the Retail Business...
Media Kampung – 20 March 2026 | Michael Bambang Hartono passed away on 19 March 2026 in Singapore at the age of 86, leaving behind a business legacy that encompasses cigarettes, banking, property, technology, and culinary ventures.
Hartono, along with his brother Robert Budi Hartono, managed the Djarum Group, which originated from the Oei Wie Gwan kretek cigarette factory in 1951 and is now Indonesia’s largest kretek cigarette producer.
Djarum produces well-known brands such as Djarum Super, Djarum Black, and L.A., and has been exporting products to international markets since the early 1970s.
The success of Djarum in the tobacco sector provided the capital for the Hartono family to acquire a majority stake in Bank Central Asia (BCA) through PT Dwimuria Investama Andalan, with indirect ownership of around 55%.
At the end of 2025, Michael Hartono’s direct shareholding in BCA was recorded at approximately 27.02 million shares, equivalent to 0.022%, affirming their position as the largest shareholders in Indonesia’s biggest bank.
Business diversification continued into the electronics sector through PT Hartono Istana Teknologi (Polytron), which manufactures televisions, refrigerators, air conditioners, and mobile phones under local brands.
In the realms of e-commerce and media, the group controls PT Global Digital Prima Venture, which oversees platforms such as Blibli.com, Kaskus, Mindtalk, Crazymarket, and DailySocial.net.
The property sector is also a stronghold; the company manages Grand Indonesia Mall, Kempinski Hotel, as well as mid-to-lower projects like World Trade Center Mangga Dua, Mall Daan Mogot, and residential complexes in Karawang.
Hartono expanded into the food retail business through PT Supra Boga Lestari (RANC), operator of the Ranch Market supermarket chain, and PT Sumber Kopi Prima, which produces coffee brands Caffino and Kopi Gadjah.
In the agriculture sector, PT Hartono Plantation Indonesia manages palm oil plantations in West Kalimantan as well as clove, tobacco, sugarcane, and essential oil crops.
Investment in telecommunications infrastructure is realised through PT Sarana Menara Nusantara (TOWR), the largest cellular tower operator that leases thousands of towers to mobile network operators.
Forbes recorded Michael Hartono’s net worth at US$17.5 billion (approximately Rp 297 trillion) in 2025, placing him at 158th on the world’s richest list and second richest in Indonesia.
The Hartono family is also known for active philanthropy, supporting education, health, and culture through Yayasan Djarum, which runs scholarships and arts programmes.
An official statement from Djarum Group’s Senior Corporate Communication Manager, Budi Darmawan, expressed deep sorrow over Hartono’s passing and reaffirmed the company’s commitment to continuing the founder’s vision.
Michael Bambang Hartono’s legacy remains evident in the network of businesses spread across finance, manufacturing, property, and technology sectors, as well as in the evolving social contributions.