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Michael Hartono: Forbes 61st Richest Man On Earth

  • Net Worth: $24.7 billion
  • Ranking: #61
  • 2023 Billionaires Net Worth: $23.1 billion
  • Occupation: Second richest person in Indonesia; Investor in Bank Central Asia (BCA)
  • Family Connection: Brother of R. Budi Hartono, both of whom share their fortune
  • Primary Investment: Accumulated significant wealth from investment in Bank Central Asia
  • Strategic Investment: Acquired stake in BCA during the 1997-1998 Asian economic crisis after the Salim family lost control of the bank
  • Origin of Wealth: Family initially prospered in the tobacco industry and remains one of Indonesia’s largest clove cigarette manufacturers
  • Entrepreneurial Venture: Co-founded Global Digital Niaga, which owns e-commerce giant Blibli; listed it in Indonesia’s second-largest IPO of 2022, raising $510 million
  • Residence: Kudus, Indonesia
  • Citizenship: Indonesia
  • Marital Status: Married
  • Children: 4
  • Age: 83


Michael Hartono: Banking Titan, Tobacco Legacy, and E-commerce Visionary

Michael “Bambang” Hartono, a driving force in Indonesia’s financial and business landscape, carries a legacy marked by strategic investments, tobacco origins, and a pioneering venture into e-commerce. His journey from the tobacco fields to the realm of banking and technology highlights his resilience and strategic acumen.

Born in 1939, Michael Hartono’s narrative intertwines with that of his brother, R. Budi Hartono. Together, they form a formidable duo, sharing their wealth and vision.

The cornerstone of their fortune lies in their investment in Bank Central Asia (BCA), a move that catalyzed their ascent. The acquisition of BCA, following the Asian economic crisis of 1997-1998, showcased their strategic prowess. Their journey wasn’t only financial; it bore echoes of redemption.

The Hartonos’ roots are traced back to the tobacco industry, where they began their ascent. Their legacy endures as one of Indonesia’s premier clove cigarette manufacturers.

E-commerce, too, lies within their domain. The co-founding of Global Digital Niaga, which owns e-commerce giant Blibli, marked a pioneering stride. In 2022, they orchestrated Indonesia’s second-largest IPO, listing Global Digital Niaga and raising $510 million.

Michael’s influence extends beyond business. A resident of Kudus, Indonesia, he navigates his 83rd year while championing impactful ventures. His legacy echoes his father’s entrepreneurial spirit, evident when he transformed a bankrupt cigarette company into Djarum, named after the needle of a gramophone.

Michael Hartono’s journey transcends finance and business, resonating as an embodiment of fortitude and strategic vision. His legacy, from bolstering Indonesia’s banking sector to advancing the nation’s e-commerce frontier, embodies the transformative power of determination and innovation.


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