R. Budi & Michael Hartono

$15.4 Billion — R. Budi & Michael Hartono was ranked as Marcopolis’ #8 most powerful businessmen in Indonesia.

R. Budi & Michael Hartono

The Hartono family is the richest family in Indonesia’s by a wide margin with an estimated wealth of $15.4 Billion. The Family’s fortune is rooted in tobacco after the brothers took over kretekmaker Djarum of one of the world’s biggest clove-flavored cigarette makers which was founded by their late  Chinese father Oei Wie Gwan, who founded Djarum in 1951. After his death in 1963, the brothers took over the business, invested in research and development, and began exporting cigarettes.

The business tycoons were voted as Marcopolis’ #8 most powerful businessmen in Indonesia.

Budi’s flagships include Bank Central Asia (BCA), the country’s largest privately owned bank; PT Djarum, the second largest cigarette producer; Kaskus, the largest community website; and Hotel Indonesia and Grand Indonesia shopping mall.

The brothers also started property several companies under the name of Djarum Group, such as Nagaraja Lestari and Fajar Surya Perkasa. Responsible for building some of the most famous property projects in Indonesia, such as Daan Mogot Mall Jakarta, Pulogadung Trade Center, and Bali Padma Hotel. Budi’s eldest son, Victor, is now COO. His other son, Martin, invests in startups like online fan club Kincir.com through GDP Venture.

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