Indonesia’s Wealthiest Businessman Michael Bambang Hartono Dies at 86

Michael Bambang Hartono, Indonesia's richest individual and tobacco industry mogul, passed away Thursday at a Singapore hospital at age 86. Along with his brother, he built the Djarum cigarette empire into a massive conglomerate worth over $43 billion.

JAKARTA, Indonesia — The wealthiest person in Indonesia, Michael Bambang Hartono, passed away Thursday at age 86 in a Singapore medical facility, according to his company’s announcement.

Hartono transformed his family’s cigarette business into Indonesia’s largest corporate empire alongside his brother Robert Budi Hartono, while also becoming the majority owner of the nation’s largest private bank, Bank Central Asia.

The Djarum Group released a statement confirming his death Thursday afternoon, expressing “With deep sorrow, the extended family of PT Djarum announces the passing of one of our company’s leaders, Michael Bambang Hartono. We extend our gratitude for his dedication and service.”

No official cause of death was disclosed by the family, though Hartono had previously battled chronic obstructive pulmonary disease and experienced a heart attack.

The Hartono siblings expanded their inherited tobacco operation into a diverse business empire headquartered in Central Java’s Kudus regency, with ventures spanning financial services, palm oil production, real estate development, consumer electronics, telecommunications, and online commerce.

PT Djarum, their primary enterprise, manufactures numerous cigarette brands both domestically and internationally, focusing mainly on kretek (clove cigarettes) such as Djarum Black, Djarum Super, and L.A. Lights. The brothers control Bank Central Asia, Indonesia’s top financial institution, which generated 57.5 trillion rupiah ($3.43 billion) in revenue during the previous year.

Combined, the Hartono brothers possessed assets exceeding $43.8 billion, establishing them as Indonesia’s wealthiest individuals. Michael Hartono’s personal fortune reached approximately $25.1 billion in December 2024, ranking him 76th globally among the world’s richest people, Forbes reported.

In 2004, the brothers secured development rights for Hotel Indonesia, an iconic Jakarta landmark, converting it into the Grand Indonesia complex featuring retail spaces, offices, upscale accommodations, and residential units.

Operating under parent company PT Dwimuria Investama Andalan, commonly called the Djarum Group, the organization has expanded beyond tobacco into banking, technology, and food industries.

The company also operates PB Djarum, among Indonesia’s premier badminton organizations whose athletes have secured multiple world titles for the country, and owns Italian soccer team Como. From 2005 through 2011, Djarum served as a primary sponsor of Indonesia’s premier football league.

Beyond business, Hartono excelled as a competitive bridge player and led the South East Asia Bridge Federation. The World Bridge Federation honored him in 2017 for his contributions to establishing bridge as an Asian Games competition category.

At the 2018 Asian Games, Hartono competed for Indonesia in bridge, earning a bronze medal with his teammates and becoming the nation’s oldest Asian Games medalist.

During the presidential palace ceremony recognizing Indonesia’s athletic achievements that year, Hartono received approximately $16,700 in prize money, which he contributed entirely to bridge development programs.

Born October 2, 1939, Hartono observed his father combining tobacco with indigenous clove seasonings to create the cigarettes Indonesians call “kretek” due to the distinctive crackling sound produced by the burning aromatic spices. Following their father’s 1963 death, the brothers assumed control of the operation, developed innovative tobacco mixtures, and launched international sales in 1972 to multiple countries including the United States.

Their inaugural machine-manufactured kretek, the Djarum Filter, debuted in 1976, followed by the mechanically-produced Djarum Super in 1981.

Djarum Super remains among Indonesia’s most favored cigarette brands in the world’s fourth-largest country by population, where over 64 million adults consume tobacco products daily.

Following the Family Smoking Prevention and Tobacco Act’s prohibition of most flavored cigarettes in America, Djarum’s clove products are now sold as “filtered cigars” wrapped in tobacco leaves rather than traditional black paper.

Currently, approximately 60,000 factory employees hand-roll Djarum cigarettes, which primarily target lower-income consumers.

Hartono leaves behind his wife and one son.