Michael Hartono

Rank 74

Michael Hartono

25B

Banking, tobacco

Kudus

Indonesia

  • Their late father, Oei Wie Gwan, acquired a bankrupt cigarette company in 1950, and later renamed it Djarum after the needle of a gramophone.
  • With his brother, he also owns popular electronics brand Polytron, prime real estate in Jakarta and a stake in gaming startup Razer.
  • Hartono, who long advocated to get the game of bridge included in the Asian Games, won a bronze medal with five teammates in 2018.
  • Michael "Bambang" Hartono and his brother R. Budi are among the richest in Indonesia.
  • The brothers get the bulk of their fortune from their investment in Bank Central Asia.
  • The Hartonos bought the stake in BCA after another wealthy family, the Salims, lost control of the bank during the 1997-1998 Asian economic crisis.
  • The family first got rich in tobacco and is still one of the biggest clove cigarette makers in the nation.
  • In what was Indonesia's second-largest IPO of 2022, the brothers listed Global Digital Niaga, which owns e-commerce giant Blibli, raising $510 million.