A Chinese Indonesian billionaire and Entrepreneur, Michael Hartono net worth is a staggering $21.2 billion as of 2023.
Michael Bambang Hartono, also known as Oei Hwie Siong, is an Indonesian billionaire heir and a businessman.
He and his brother Robert Budi inherited Kretek Manufacturer Djarum from their father, Oei Wie Gwan when he died in 1963.
On October 2, 1939, Michael Bambang Hartono was born in Kudus, in Central Java. His father ran a cigarette factory called Djarum.
However, in 1939 a tragedy occurred, and the factory caught fire and burned down.
After their father’s demise, the brothers took over the company, and the cigarette brand is now one of Indonesia’s most popular.
After completing his high school in Kudus, Michael studied economics and business at Diponegoro University.
Bambang has been passionate about playing bridge since childhood, which he learned from his uncle.
He also represented Indonesia at the Asian Games 2018, winning a bronze medal with his team.
Michael Hartono | Quick Facts
So, let’s get to know Michael Hartono a little better, starting with some basic facts about him.
|Name||Michael Bambang Hartono|
|Birthdate||October 2, 1939|
|Age||84 Years Old|
|Father’s Name||Oei Wie Gwan|
|Mother’s Name||Goei Tjoe Nio|
|Siblings||Robert Budi Hartono|
|Nickname||Oei Gwie Siong|
|Height||In Centimetres – 165 cm
In Feet and Inches – 5′5″
|Weight||In Kilograms – 75 Kg
In Pounds – 165.3 lbs
|Net Worth||$21.2 billion|
|Children||Tessa, Vanessa, Roberto, Stefanus|
|Last Update||December 2023|
Michael Hartono | Net Worth and Income
A Chinese Indonesian billionaire and Entrepreneur, Michael Hartono’s net worth is a staggering $21.2 billion as of 2023.
As the co-owner of kretek manufacturer Djarum, he is the second richest person in Indonesia, just after his brother Robert Budi Hartono.
Aside from the factories, the Djarum group also controls several shopping malls and buildings in Jakarta, including Grand Indonesia, Hotel Indonesia, and BCA Tower.
Kaskus is an Indonesian forum that grants registered members access to more than twenty regional and subject-related sub-forums.
Micheal holds prime real estate in the capital city Jakarta and also has a stake in the famous electronics brand Polytron.
But most importantly, Michael’s most significant source of wealth is Bank Central Asia.
He is the largest shareholder of the bank and controls 51 percent of its shares.
Michael Hartono’s Net Worth in Different Currencies
Let’s look at the Net Worth of Michael Hartono in several currencies, including BitCoin, the cryptocurrency.
|Pound Sterling||£ 15,431,162,000|
|Australian Dollar||A$ 28,183,704,000|
|Canadian Dollar||C$ 26,198,324,000|
|Indian Rupee||₹ 1,587,595,920,000|
Michael Hartono | House
Although he spends most of his time in Kudus, Indonesia, handling the business, he has a gorgeous house in Perth, Australia.
The home is located on the beach. He also owns the large property on the hill behind.
Hartono has subdivided the land. It is developed into five houses, the largest for his wife and him and each for their two children.
Michael visits this house on holidays to enjoy the beautiful waterside views and have a fantastic vacation with his family.
Specifically, Hartono’s House in Perth, Australia, lies amongst some of the wealthiest prestigious residents.
Michael Hartono | Lifestyle
Hartono is a bridge player and has been playing since childhood. He was “instrumental” in bringing the card game to the regional Olympics event for the first time.
In addition, he stated, “bridge is like a business; first, you get the data, the information and then, analyze the information, and then make a decision.”
“So business, real-life, and bridge are the same. Decision-making is the same,” he said.
Moreover, Michael represented Indonesia at the Asian games 2018 in the bridge. And he was successful in grabbing a bronze medal with his team.
Similarly, he has competed in several international tournaments. In one case, he self-admittedly fell asleep during a final match due to drinking wine beforehand.
Hartono does not play golf, which is also called the game of riches. Instead, he likes to exercise and keep himself fit.
Furthermore, Michale is also currently aiming to be the oldest athlete competing in Olympics.
He’s determined to quit drinking wine which deliberately led him to lose the game already once.
Michael Hartono | Charity
Michael is an eager philanthropist. So he has been involved in support of Indonesian culture, sport, education, social, and environmental conservation causes.
Likewise, Hartono and his organization donated $1.5 million to Diponegoro University for the infrastructural upgrade project.
Furthermore, he donated to the college that he graduated from because of his immense net worth of $21.5 billion, growing every year.
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Michael Hartono | Cigarette Company and Banking Business
Hartono’s father, Oei Wie Gwan, bought a small business named Djarum Clove Grammophon.
Oei’s tragic death occurred shortly after the near destruction of the cigarette company due to fire.
This led two brothers, Robert Budi and Michael Bambang inherit the business. This was a hard time for the Hartono brothers.
However, they decided to raise the company’s status by rebuilding and modernizing the equipment used in the factory.
It was the first brand to be produced by machines, followed by Djarum Super, introduced in 1981.
Moreover, the small business they inherited from their parents grew up a giant and made them very rich.
Subsequently, they started exporting cigarettes to the United States, competing with other brands, and coming to the top.
After the massive success of Djarum cigarettes, the two brothers soon started lifting their eyes into other sectors.
Although the cigarette business was the Hartono family’s first business, the ultimate one to skyrocket the net worth of Hartono was the Banking sector business.
Specifically, the Djarum Group initiated the entry into the banking business through Haga Bank and Hagakita Bank.
Later in 2002, the brothers, via the Mauritius-registered business FarIndo Investments and acquired 51.15% of Bank Central Asia with Farallon Capital.
Again, they beat rival bidders despite making a cheaper offer.
Djarum’s holding in the consortium increased from less than 10% to 92.18% by 2006, despite the sale of the Haga and Hagakita Banks to Rabobank.
Furthermore, the brothers held the bulk of the company’s shares after a Rp 3.45 trillion agreement with UBS in 2010.
As of September 2017, Michael and Robert jointly owned the firm and maintained a 54.94 percent share in BCA (Bank Central Asia ).
Michael Hartono | Career
Under Michael and his brother’s leadership, the cigarette firm expanded, exporting for the first time in 1972 and launching new products.
Similarly, the cigarette brand is now one of the most popular in Indonesia, with a 19% market share as of 2012.
Furthermore, as the cigarette industry grew, the company began branching out into other sectors, eventually launching the Polytron electronics brand in 1975.
Palm oil, papermaking, and communication towers are among the group’s other ventures.
In addition, Hartono’s company controls the e-commerce website Blibli.com.
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3 Interesting Facts About Michael Hartono
- Michael Bambang Hartono is one of the wealthiest athletes in the world.
- The Hartono family is preparing the transfer of management of the Djarum Group to the third generation. The management group includes Arman Budi Hartono, now a director of BCA, and Victor Rahmat Hartono, a director of PT. Djarum.
- Hartono’s number one priority is family, and after that comes business. If he has free time, then he plays bridge as a hobby. Hartono has also added music as his hobby, who enjoys listening to tai chi.
Who are the family members of Michael Bambang Hartono?
Hartono has a wife named Widowati Hartono.
The couple is blessed with four children. He also has a sibling with whom he grew up and became the business partner, Robert Budi Hartono.
Does Michael Hartono have Social Media?
Although his company has been quite prominent in the online business, he doesn’t have a social media of his own.
What is the net worth of Michael Bambang Hartono?
According to Forbes, Michael Hartono’s net worth is currently $21.2 billion as of October 2021, which is growing every year.
Hartono’s net worth was approximately $6.3 billion in 2012 and grew to $19.7 billion by the end of 2020.