By Timothy S. Donahue
Top Takeaways:
Industry titan: Michael Bambang Hartono helped transform Djarum into a worldwide kretek industry leader and diversified conglomerate.
Massive wealth: He was Indonesia’s wealthiest man, with a fortune exceeding $25 billion.
Global footprint: Djarum expanded into banking, technology, and international markets, including the U.S. cigar segment.
Michael Bambang Hartono, the Indonesian billionaire who helped turn Djarum into one of the world’s largest tobacco companies, has passed away at the age of 86. Hartono passed away on Thursday at a hospital in Singapore, according to a statement from the Djarum Group.
“With deep sorrow, the extended family of PT Djarum announces the passing of one of our company’s leaders, Michael Bambang Hartono,” the company said. “We extend our gratitude for his dedication and service.”
Hartono, along with his brother Robert Budi Hartono, transformed Djarum from a family-owned kretek cigarette business into a diversified global conglomerate that includes tobacco, banking, technology, and real estate.
The company’s flagship products—clove cigarettes called kretek—continue to be a dominant force in Indonesia, one of the world’s largest tobacco markets, where over 64 million adults smoke every day.
Under the Hartono family’s leadership, Djarum expanded internationally, beginning to export products in the 1970s. In the United States, its clove-based products are marketed as filtered cigars due to federal restrictions on flavored cigarettes.
Beyond tobacco, the Hartono family became the largest shareholders in Bank Central Asia, Indonesia’s biggest private bank, and made significant investments in sectors like telecommunications, e-commerce, and property development.
Hartono’s personal net worth was estimated at over $25 billion, ranking him among the world’s wealthiest individuals and making him Indonesia’s richest man for years.
Born in 1939, Hartono took over the family business in 1963 after his father’s death and played a key role in modernizing production, including the launch of machine-made kretek products such as Djarum Filter in 1976 and Djarum Super in 1981.
The Djarum Group currently employs tens of thousands of workers, with many still involved in manual cigarette manufacturing.
Hartono also pursued interests outside of business, including sports ownership and philanthropy. The family owns the Italian football club Como 1907 and has long supported badminton in Indonesia through PB Djarum, one of the country’s most prominent clubs.
He was also a skilled bridge player, representing Indonesia at the 2018 Asian Games, where he won a bronze medal.
Hartono is survived by his brother, his wife and a son.
