Michael Bambang Hartono, Majority Owner of Indonesia’s Largest Bank, Passes Away at 86
Jakarta, Indonesia — Michael Bambang Hartono, one of Indonesia’s most prominent business leaders and majority shareholder of Bank Central Asia, has passed away at the age of 86.
He died on Thursday at a hospital in Singapore, according to an official statement released by Djarum Group, the diversified conglomerate he co-led with his brother, Robert Budi Hartono.
“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,” the company said in its statement.
Alongside his brother, Hartono was part of Indonesia’s wealthiest family, with a combined net worth of approximately $38.5 billion, according to Forbes.
Born into a business family, Hartono played a pivotal role in expanding the legacy of Djarum, originally founded in 1951 by their father, Oei Wie Gwan. Under his leadership, the company grew into one of Indonesia’s largest producers of clove cigarettes and successfully diversified into sectors including finance, infrastructure, and technology.
Through strategic investments, the Hartono family became the controlling shareholders of Bank Central Asia, transforming it into Indonesia’s largest private lender and a cornerstone of the nation’s financial system.
Michael Bambang Hartono is remembered for his long-standing contributions to Indonesia’s business landscape, his commitment to growth and innovation, and his role in shaping one of the country’s most influential conglomerates.
Jakarta, Indonesia — Michael Bambang Hartono, one of Indonesia’s most prominent business leaders and majority shareholder of Bank Central Asia, has passed away at the age of 86.
He died on Thursday at a hospital in Singapore, according to an official statement released by Djarum Group, the diversified conglomerate he co-led with his brother, Robert Budi Hartono.
“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,” the company said in its statement.
Alongside his brother, Hartono was part of Indonesia’s wealthiest family, with a combined net worth of approximately $38.5 billion, according to Forbes.
Born into a business family, Hartono played a pivotal role in expanding the legacy of Djarum, originally founded in 1951 by their father, Oei Wie Gwan. Under his leadership, the company grew into one of Indonesia’s largest producers of clove cigarettes and successfully diversified into sectors including finance, infrastructure, and technology.
Through strategic investments, the Hartono family became the controlling shareholders of Bank Central Asia, transforming it into Indonesia’s largest private lender and a cornerstone of the nation’s financial system.
Michael Bambang Hartono is remembered for his long-standing contributions to Indonesia’s business landscape, his commitment to growth and innovation, and his role in shaping one of the country’s most influential conglomerates.
