Michael Bambang Hartono, Indonesia's richest man and co-owner of the Djarum cigarette conglomerate, died on Thursday at a hospital in Singapore. He was 86. The Djarum Group confirmed his passing in a statement, expressing deep sorrow and gratitude for his dedication and service. The cause of death has not been disclosed, though Hartono had previously suffered from chronic obstructive pulmonary disease and a heart attack.
Hartono and his brother Robert Budi Hartono transformed their inherited family business into a sprawling empire spanning banking, palm oil, property, electronics, telecommunications, and e-commerce. Their flagship company, PT Djarum, produces popular kretek (clove cigarette) brands including Djarum Black, Djarum Super, and L.A. Lights. They are also the largest shareholders in Bank Central Asia, Indonesia's biggest private lender, which reported revenue of 57.5 trillion rupiah ($3.43 billion) last year.
According to Forbes, the Hartono brothers' combined net worth exceeded $43.8 billion, making them the wealthiest in Indonesia. Michael Hartono's personal fortune was estimated at $25.1 billion in December 2024, ranking him 76th globally. In 2004, the brothers won the rights to redevelop the historic Hotel Indonesia in Jakarta, transforming it into the Grand Indonesia complex, which includes a shopping mall, offices, a luxury hotel, and apartments.
Beyond business, Hartono was a champion bridge player and president of the South East Asia Bridge Federation. He represented Indonesia at the 2018 Asian Games, winning a bronze medal and becoming the oldest Indonesian medalist at the Games. He donated his $16,700 prize money to promote the card game. Hartono was born on October 2, 1939, and took over the family cigarette business with his brother after their father's death in 1963. They introduced machine-made kretek in 1976 and expanded exports to the U.S. and other countries.
