The Hartono family of Indonesia ranks second among Asia’s wealthiest families, following the Ambani family, with a reported net worth of USD 38.8 billion (Rs 324,870 crore). The Hartono family’s wealth traces back to the Djarum Group, a significant player in the cigarette industry, founded by their father, Oei Wie Gwan, in 1951. Djarum has grown to become one of Indonesia’s largest cigarette manufacturers, flourishing under the leadership of the Hartono brothers, Robert Budi and Michael Hartono.
While Djarum remains a cornerstone of their fortune, the Hartono brothers derive most of their wealth from investments in Bank Central Asia (BCA), Indonesia’s largest private bank. The family’s diverse portfolio extends beyond banking and cigarettes to include electronics, property, and agribusiness. Notable holdings include the popular electronics brand Polytron and prime real estate in Jakarta.
Robert Budi and Michael Hartono are the wealthiest individuals in Indonesia. Their strategic acquisition of BCA in the late 1990s, leveraging their cigarette fortune, significantly boosted their wealth. Over the years, the brothers have handed down parts of their business operations to the next generation. R. Budi’s son, Victor, now oversees the cigarette plant Djarum.
Expanding into the digital economy, the Hartono family launched Blibli, an e-commerce platform. In 2022, Blibli’s parent company, Global Digital Niaga, raised USD 510 million through an IPO, further diversifying the family’s business interests and solidifying their economic influence in Indonesia.
The Hartono family’s extensive business ventures and investments have not only secured their wealth but also contributed significantly to Indonesia’s economic growth.
