Michael Hartono's Colossal Inheritance: Four Children Each Receive Rp52 Trillion
Jakarta, CNBC Indonesia — Indonesia’s conglomerate families have recorded one of the largest wealth transfers in Asia in recent years.
As previously reported, one of the owners of the Djarum group, Michael Bambang Hartono, passed away in March 2026 at the age of 86. He left behind an inheritance that was divided equally among his four children.
Citing Straits Times and The Star, which reported from Bloomberg, according to official government documents, Michael’s 49% shareholding in PT DIA has been divided equally among his four heirs.
Each heir has received shares worth at least US$2.93 billion, equivalent to Rp52.38 trillion (at an exchange rate of Rp17,879 per US dollar).
To break it down, based on PT Dwimurta Investama Andalan’s (DIA) ownership of BBCA alone, the value of Michael’s shares in the bank reached approximately Rp200 trillion as of 13 August 2026.
In addition, PT DIA also holds a 19.95% stake in Sarana Menara Nusantara (TOWR) valued at Rp4.6 trillion. This means the value of Michael’s ownership in those shares is approximately Rp2.25 trillion.
Michael’s children also play important roles across various lines of the Hartono family business empire, which spans banking, cigarettes, shopping centres and plantations. Among them is Djarum, one of Indonesia’s largest producers of clove cigarettes, known as ‘kretek’.
Meanwhile, the Hartono family had a combined net worth of US$43.8 billion at the end of 2025 according to Forbes, making them the wealthiest family in Indonesia.
The two brothers’ wealth soared after they expanded the cigarette business inherited from their father and ventured into the financial sector.
Victor Hartono, Robert’s eldest son, has replaced his father as CEO of Djarum, according to separate company documents. He previously served as chief operating officer.
In a separate development, PT Bank Central Asia Tbk (BBCA) has announced a change in its controlling shareholder, in connection with the passing of Michael Bambang Hartono.
Citing its information disclosure, BCA announced that Robert Budi Hartono has become the controlling shareholder of PT DIA, which is the ultimate controlling shareholder of BBCA.
Robert’s shareholding percentage in PT DIA remains unchanged at 51% of PT DIA’s issued and paid-up capital.
‘Accordingly, the Company’s Ultimate Controlling Shareholder is now Mr Robert Budi Hartono,’ said BCA Corporate Secretary Rudy Budiardjo, quoted from the information disclosure on Thursday (13/8/2026).
Rudy stated that BCA has received an OJK letter dated 29 July 2026 regarding the Ultimate Ownership Structure.
BCA essentially informed the Company that the change in the Company’s ultimate ownership structure has been recorded in the OJK’s supervisory administration, whereby Robert Budi Hartono is the Ultimate Controlling Shareholder (PSPT) of the Company.