Michael Bambang Hartono's Business Empire: Not Just Cigarettes and Banking
Sad news has emerged from the national business sector. Michael Bambang Hartono, the entrepreneur behind the Djarum Group, passed away on Thursday (19/3/2026) at 13:15 Singapore time.
Michael Bambang Hartono was one of Indonesia’s most influential entrepreneurs. He was known as the owner of Djarum alongside his brother, Robert Budi Hartono.
The Djarum Group elevated the two brothers to the position of Indonesia’s richest individuals according to Forbes, with wealth reaching US$43.8 billion or the equivalent of Rp743.42 trillion (exchange rate Rp16,973) in 2025.
Meanwhile, based on the latest Forbes data, Michael Hartono’s separate wealth was recorded at US$17.5 billion or the equivalent of Rp297.03 trillion. Michael ranked as the 158th richest person in the world.
So, what exactly comprises the business empire of the Djarum Group that built their name?
The Djarum Group is widely known as a cigarette producer in Indonesia. Djarum also has investments in various sectors from finance and technology to retail. Compiled from various sources, here is the business empire of the Hartono family.
Cigarettes
Djarum is one of the largest kretek cigarette producers in Indonesia and the world. The company produces various tobacco brands, starting from Djarum Super, Djarum Black, L.A., and others.
This cigarette business is one of the main pillars of the Djarum Group’s wealth. The business was inherited from their father, Oei Wie Gwan, who pioneered it in 1963.
Banking
The Hartono brothers are among the largest shareholders of PT Bank Central Asia Tbk (BBCA) or BCA. Based on the official Indonesia Stock Exchange report, as of 30 September 2025, Michael himself holds 27.02 million shares or 0.022% of BBCA shares.
In addition, he also owns BBCA shares through indirect ownership via PT Dwimuria Investama Andalan. This company holds 67.72 billion shares or 54.94%.
Electronics
The Djarum Group has also ventured into the electronics business. Through PT Hartono Istana Teknologi (Polytron), the company focuses on producing televisions, refrigerators, air conditioners, and mobile phones.
Digital
The Djarum Group has also developed its business into the online retail or e-commerce and media sectors. They own PT Global Digital Prima Venture, which oversees Blibli.com, kaskus.co.id, Mindtalk, LintasME, Crazymarket, and DailySocial.net.
Property
The Hartono brothers have also entered the property business. The Djarum Group holds PT Cipta Karya Bumi Indah, a private company managing the Grand Indonesia Mall to the Kempinski Hotel.
There are also other property projects targeting the middle to lower classes owned by the Hartono brothers, ranging from World Trade Center (WTC) Mangga Dua, Mal Daan Mogot, Karawang Resinda, and Padma Hotel Karawang.
Retail, Food, and Beverages
Besides the property sector, the Djarum Group also owns shares in PT Supra Boga Lestari Tbk (RANC), which manages supermarket chains like Ranch Market. The Hartono family also owns PT Sumber Kopi Prima, a company producing branded products Caffino and Kopi Gadjah.
Plantations
The Djarum Group has also expanded into the palm oil plantation sector. Through PT Hartono Plantation Indonesia, the Djarum Group manages dozens of hectares of palm oil plantations in Landak Regency, West Kalimantan. In addition, the Djarum Group develops other commodities such as cloves, tobacco, sugarcane, and essential oils.
Telecommunications
The Hartono brothers’ business has also expanded into the telecommunications sector by establishing PT Sarana Menara Nusantara Tbk (TOWR), one of Indonesia’s largest telecommunications tower operators. Through its subsidiaries, TOWR owns thousands of towers leased to mobile operators.
The following is a summary of some of the businesses developed by Michael Hartono and his brother through the Djarum Group. There are still many other businesses not listed in this compilation.