Michael Hartono Net Worth

Michael Hartono Net Worth

Michael Hartono net worth

Current Net Worth$19.8 Billion (USD – 1,980 Crores), (Rupees – 1.47 Lakh Crores)

Michael Hartono short biography

Net Worth$19.8 Billion
BornOctober 2, 1939 (Age – 81)
Identified asOwners of kretek
StatusChinese Indonesian Businessman
EducationDiponegoro University
NationalityIndonesia
ResidenceKudus, Indonesia
Spousal statusMarried
Children4
Michael Hartono short biography

Michael Bambang Hartono has a net worth of $19.8 Billion (Rupees – 1,47,641 Crores), making him one of the top richest men in the World.

He is commonly known as Oei Hwie Siong, a Chinese Indonesian businessman.

Michael Bambang Hartono is Indonesia’s second richest man, behind his brother R. Budi Hartono.

The majority of the brothers’ wealth comes from their stake in Bank Central Asia.

He also owns Polytron, a popular electronics firm, prominent real estate in Jakarta, and a share in gaming firm Razer with his brother.

According to Forbes, Hartono is the 56th richest person on the planet, with a net worth of $18.5 billion as of September 2019.

Michael Hartono biography

Full NameMichael Bambang Hartono
Height5.8 feet, 176 cm
Weight60 Kg
Michael Hartono biography

Michael Hartono was born on October 2, 1939, in Kudus, Central Java.

Education

Michael attended Diponegoro University’s college of economics and business after finishing high school in Kudus, but he returned to Kudus following his father’s death.

Career

Michael and his brother Robert Budi are the owners of Djarum, a kretek factory that their father Oei Wie Gwan passed away from in 1963.

After growing the company to a massive conglomerate, they became the richest people in the nation after growing the company to a massive conglomerate that included Bank Central Asia, electronics, plantations, and numerous assets.

Michael alone has a net worth of about $10 billion.

Under the leadership of the two brothers, the cigarette firm developed, exporting for the first time in 1972. With a 19% market share in 2012, their cigarette brand is now one of the most popular in Indonesia.

As the cigarette business grew, the company began branching out into other sectors, launching the Polytron electronics brand in 1975.

Djarum grew its interest in the consortium from less than 10% to 92.18% by 2006, however, the Haga and Hagakita Banks were sold to Rabobank. The brothers held a majority of the company’s shares after a Rp 3.45 trillion agreement with UBS in 2010.

In 2002, the brothers via the Mauritius-registered entity FarIndo Investments, in a combination with Farallon Capital, took over 51.15T of Bank Central Asia.

His firm is also involved in internet businesses, including Blibli.com, an e-commerce website, and Kaskus, one of Indonesia’s largest online communities.

The family made their fortune in tobacco and is today one of the country’s largest clove cigarette manufacturers.

Private & early life

He is married to Widowati Hartono and resides in Kudus, Indonesia. The couple has four children together.

In April 1951, his father, Oei Wie Gwan, bought a tiny Kretek cigarette manufacturer called Djarum Gramophon and renamed it simply Djarum.

The factory, however, burned down in 1963, and Oie Wie died soon after, leaving Michael and his younger brother Robert Budi Hartono to inherit the business.

Net worth statistics

  • March 2012 – $6.3 B
  • March 2013 – $8.2 B
  • March 2014 – $7.3 B
  • March 2015 – $8.7 B
  • March 2016 – $7.9 B
  • March 2017 – $8.9 B
  • March 2018 – $16.7 B
  • March 2019 – $18.5 B
  • April 2020 – $13.0 B
  • April 2021 – $19.7 B

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