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The Richest Man In Indonesia

National Money
The Richest Man In Indonesia

Michael Hartono

Indonesia‘s Richest Man and World’s #258

Net Worth: $3.5 bil

Fortune: Inherited and Growing
Age: 70
Country Of Citizenship: Indonesia
Residence: Kudus
Education: NA
Marital Status: Married, 4 children
Father started privately held kretekmaker Djarum in 1950s. With brother Budi, turned it into one of the largest in Indonesia. He owns 49% of the company while Budi, also a billionaire, owns 51%. Djarum was bestselling clove cigarette brand in the U.S. before FDA banned the product in 2009. Hasn’t had big impact on sales or fortune given that bulk comes from massive Indonesian market. Besides, most of brothers’ wealth now comes from their controlling stake in Bank Central Asia, Indonesia’s largest private bank. Together they also own Grand Indonesia, a luxury shopping mall, office building and hotel complex in the center of Jakarta.

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