Michael Bambang Hartono, Indonesia’s richest man and co-owner of the Djarum Group, passed away today (March 19) at the age of 86 in Singapore. Alongside his brother Robert Budi Hartono, he transformed the family’s inherited cigarette business into one of the country’s largest conglomerates, with interests spanning tobacco, banking, technology, property, sports, and e-commerce. Their flagship company, PT Djarum, produces a range of kretek cigarettes, which remain widely popular in Indonesia. The brothers introduced machine-made kretek products such as Djarum Filter in 1976 and Djarum Super in 1981, expanding exports to international markets including the United States. Today, around 60,000 workers manually roll Djarum cigarettes, which are marketed domestically and abroad as filtered cigars wrapped in tobacco leaf to comply with U.S. flavor bans.
Beyond tobacco, the Hartonos are major shareholders in Bank Central Asia, Indonesia’s largest bank, and redeveloped Hotel Indonesia into the Grand Indonesia complex, encompassing shopping, offices, and a luxury hotel, and are known for philanthropy. With a personal net worth of $25.1 billion in 2024 and a combined family fortune exceeding $43.8 billion, Hartono is survived by his brother, wife, and son.