Michael Bambang Hartono

Last updated

Michael Hartono
Born
Michael Bambang Hartono

(1939-10-02) 2 October 1939 (age 84)
Kudus, Central Java, Dutch East Indies
NationalityIndonesian
Alma mater Diponegoro University
Occupation(s)Co-owner of Djarum, BCA and Como 1907
Known forOwner of BCA
Founder of Polytron Electronics  [ id ]
Children4
Parent(s) Oei Wie Gwan
Goei Tjoe Nio
Relatives Robert Budi Hartono (brother)
Chinese name
Traditional Chinese 黃 輝 祥 [1]
Simplified Chinese 黄 辉 祥
Hanyu Pinyin Huáng Huīxiáng
Hokkien POJ Ûiⁿ Hui Siông
Medal record
Mixed Group Contract Bridge
Representing Flag of Indonesia.svg  Indonesia
Asian Games
Bronze medal icon (B initial).svg 2018 Jakarta Supermixed team

Michael Bambang Hartono (born 2 October 1939) is an Indonesian billionaire heir and businessman.

Contents

Michael and his brother Robert Budi are the owners of kretek (clove cigarette) manufacturer Djarum, which they inherited from their father Oei Wie Gwan upon his death in 1963. Growing the business to a large conglomerate including Bank Central Asia, electronics, plantations and various properties, they became the richest in the country with Michael himself having a net worth in excess of $22.3 billion as of 2022.

Early life

Michael Hartono was born on 2 October 1939, in the town of Kudus, in Central Java. [1] [2] His father, Oei Wie Gwan, had purchased a small Kretek cigarette factory called Djarum Gramophon (lit: Gramophone needle) in April 1951, and renamed it to just Djarum. In 1963, however, the factory burned down and shortly thereafter Oie Wie died, leaving Michael and his younger brother Robert Budi Hartono to inherit the factory. [3] [4]

After completing his highschool in Kudus, Michael studied in the faculty of economics and business at Diponegoro University starting 1959, but returned to Kudus upon his father's death. [2] [5] [6]

Career

The cigarette company grew under the two brothers, making its first export in 1972 and introducing new products. [3] Today, the cigarette brand is one of the largest in Indonesia, with a 19 percent market share in 2012. [7] [8] As the cigarette business continued to grow, the group began expanding to other fields, founding an electronics brand Polytron in 1975. [9] The group also expanded into businesses like palm oil, papermaking and communication towers. [10] [11]

Starting their entry into the banking business through Haga Bank and Hagakita Bank, [12] the brothers under the Mauritius-registered corporation FarIndo Investments in a consortium with Farallon Capital took over 51.15% of Bank Central Asia in 2002, defeating other bidders despite making a lower offer. [13] While initially only holding less than 10% stake in the consortium, Djarum held a 92.18% stake in the consortium by 2006, though the Haga and Hagakita Banks were sold to Rabobank. [14] [15] After a Rp 3.45 trillion deal with UBS in 2010, the brothers controlled a majority of the company's shares. [16]

The shares were transferred to an Indonesian holding company PT Dwimuria Investama Andalan in 2016 during a tax amnesty program. [17] As of September 2017, the company was jointly held by Michael and Robert, and possessed a 54.94% stake in BCA. [18]

Aside from the aforementioned businesses, the Djarum group also controls several shopping malls and buildings in Jakarta, including Grand Indonesia, [10] Hotel Indonesia and BCA Tower. [7]

According to Forbes , Hartono has a net worth of $18.5 billion, as of September 2019, making him the 56th richest person in the world. [8] He and his brother – who was also listed slightly under him at 69th [19] – were named as the richest Indonesians in 2017, the 9th year in a row they were listed as such. [20]

His company is also active in internet ventures, controlling e-commerce website Blibli.com and one of Indonesia's largest online communities Kaskus. [21]

Personal life

He lives in Kudus, Indonesia and is married to Widowati Hartono. The couple have four children.; [8] [22]

Bridge

Bambang is a bridge player. In an interview, he said that "bridge is how you train yourself in making good decisions and risk-taking" and that his uncle introduced him to the game during the Japanese occupation of Indonesia. [23] A major supporter of the sport in the country and president of the South East Asia Bridge Federation, he received an award from the World Bridge Federation in 2017 for his support in making bridge a category in the Asian Games. [24]

He represented Indonesia at the Asian Games 2018 in bridge, winning a bronze medal with his team at the Supermixed team event hence making him the oldest Indonesian Asian Games medal winner. [23] [25] [26] He was the oldest athlete in the Indonesian contingent, though several other non-Indonesian bridge players were older. [27] He had also participated in other competitions abroad, in one case self-admittedly falling asleep during a finals match due to drinking wine beforehand. [23]

He was part of the Indonesian teams which won bronze medals in the 2008 World Bridge Games in Beijing, the 2009 World Team Championships in Sao Paulo, and the 2010 World Series Championships in Philadelphia. [28]

Related Research Articles

Robert Budi Hartono is an Indonesian tobacco billionaire with a net worth of US$25.3 billion as of September 2023. He owns and runs the privately held Djarum, the world's third-largest maker of clove cigarettes. Djarum has reportedly recently grabbed shares from the number two cigarette firm, Sampoerna. Budi Hartono also has a stake with his brother, Michael Bambang Hartono in one of Indonesia's biggest banks, Bank Central Asia, formerly controlled by billionaire Sudono Salim. According to Forbes, he is the second richest Indonesian and the 61st richest person in the world.

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PT Djarum is an Indonesian kretek brand/manufacturer founded on 21 April, 1951, by Oei Wie Gwan in Kudus, Central Java. It produces dozens of domestic and international brands. Djarum Black, Super, and L.A. Lights are among the most popular products of Djarum. The company owns the PB Djarum, a professional badminton club, the Italian football club Como, and was the main sponsor of Liga 1, Indonesia's top football league from 2005 to 2011. Under its direct parent, PT Dwimuria Investama Andalan, it has non-cigarette business lines in technology, banking, and beverages.

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There are approximately 57 million smokers in Indonesia, among a population of 273 million people. Around 63% of men and 5% of women report smoking, equating to 34% of the population. The majority, 88% of Indonesian smokers, use clove-flavoured kreteks. Kretek manufacturers directly employ over 180,000 people in Indonesia and an additional 10 million indirectly. Indonesia is the fifth largest tobacco market in the world, and in 2008 over 165 billion cigarettes were sold in the country.

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Djarum Foundation is a non-profit organization from Indonesia active domestically in the areas of sport, environment, education, culture and social. President Director of the Djarum Foundation is Victor Hartono. The organization was officiated on 30 April 1986 based on informal activities of the two brothers Michael Bambang Hartono and Robert Budi Hartono starting from 1951.

Siti Fadia Silva Ramadhanti is an Indonesian badminton player affiliated with the Djarum club. She won the gold medal in the mixed doubles at the 2017 Asian Junior Championships, and in the women's doubles at the 2021 SEA Games. She also won the silver medal in the 2023 World Championships with Apriyani Rahayu.

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<span class="mw-page-title-main">Bambang Dwi Hartono</span> Indonesian politician (born 1961)

Bambang Dwi Hartono is an Indonesian politician who is currently serving as a member of the People's Representative Council since 2019, representing the East Java I electoral district. A member of the Indonesian Democratic Party of Struggle (PDI-P), he previously served as a representative in the East Java Regional People's Representative Council from 2014 until 2019, the Mayor of Surabaya between 2002 and 2010, and the Vice Mayor of Surabaya from 2000 until 2002 and again from 2010 until 2013.

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2022 (MMXXII) was a common year starting on Saturday of the Gregorian calendar, the 2022nd year of the Common Era (CE) and Anno Domini (AD) designations, the 22nd year of the 3rd millennium and the 21st century, and the 3rd year of the 2020s decade.

References

  1. 1 2 "針記首席運營長黃志勝澄清‧黃家泉州無祖屋". Harian Indonesia (in Traditional Chinese). 9 May 2016. Archived from the original on 1 September 2018. Retrieved 1 September 2018.
  2. 1 2 "Michael Hartono". tirto.id (in Indonesian). Retrieved 29 August 2018.
  3. 1 2 Putra, Idris Rusadi (1 February 2014). "Kisah Hartono bersaudara membangun kerajaan bisnis Djarum" (in Indonesian).
  4. ↑ "History of Djarum". Djarum.
  5. ↑ Puspitarini, Margaret (22 March 2012). "FEB Undip Beri Penghargaan untuk Alumni : Okezone News". Okezone (in Indonesian). Retrieved 29 August 2018.
  6. ↑ Setyautama 2008, p. 264.
  7. 1 2 Suhendra, Zulfi (7 December 2015). "Mengenal Duo Hartono, Orang Paling Kaya di Indonesia". liputan6 (in Indonesian). Retrieved 29 August 2018.
  8. 1 2 3 "Forbes profile: Michael Hartono". Forbes. Retrieved 9 December 2020.
  9. ↑ Suryadi, Dede (30 March 2016). "Empat Dekade Kiprah Polytron". SWA (in Indonesian). Retrieved 29 August 2018.
  10. 1 2 "Ini Bisnis Sampingan Grup Djarum di Luar Rokok". KOMPAS (in Indonesian). 10 April 2015. Retrieved 29 August 2018.
  11. ↑ Suhartono, Harry (11 April 2018). "Indonesian Billionaire Brothers Are Turning Their Focus on Telecom". Bloomberg. Retrieved 31 August 2018.
  12. ↑ Atmanto, Irwan Andri; Firdaus, Haris (1 April 2011). "Imperium Bisnis Keluarga Hartono". Gatra (in Indonesian). Retrieved 29 August 2018.
  13. ↑ "'Masters of the universe' behind BCA sale". CNN. 20 March 2002. Retrieved 29 August 2018.
  14. ↑ "Thomas Lembong yang Diangkat Jadi Menteri Perdagangan Pernah "Beli" BCA". Bareksa (in Indonesian). 12 August 2015. Retrieved 29 August 2018.
  15. ↑ "Lepas Bank Haga & Hagakita, Bos Djarum Kuasai BCA". Detik (in Indonesian). 16 January 2007. Retrieved 29 August 2018.
  16. ↑ "Beli Saham Rp 3,45 Triliun, Orang Terkaya RI Kuasai Mayoritas BCA". Detik (in Indonesian). 21 December 2010. Retrieved 29 August 2018.
  17. ↑ Afriyadi, Achmad Dwi (15 November 2016). "47,15 Persen Saham BCA Pindah Tangan". liputan6.com (in Indonesian). Retrieved 29 August 2018.
  18. ↑ "Pemegang Saham PT Bank Central Asia Tbk (BCA) per 30 September 2017" (in Indonesian). Bank Central Asia. Retrieved 29 August 2018.
  19. ↑ "#69 R. Budi Hartono". Forbes. Retrieved 29 August 2018.
  20. ↑ Suhendra, Zulfi (6 December 2017). "Budi dan Michael Hartono Jadi Orang Terkaya RI Selama 9 Tahun". Detik (in Indonesian). Retrieved 29 August 2018.
  21. ↑ "Robert Hartono, 75 and Michael Hartono, 76". Jakarta Globe. 1 July 2016. Retrieved 29 August 2018.
  22. ↑ Kertiyasa, Martin Bagya (3 December 2016). "HOT SHOT: Budi Hartono, 8 Tahun Jadi Orang Paling Kaya di Indonesia". Okezone (in Indonesian). Retrieved 29 August 2018.
  23. 1 2 3 Sipatuhar, Tassia (23 August 2018). "Cigarette Billionaire Quits Wine in Pursuit of Asian Gold Medal". Bloomberg. Retrieved 29 August 2018.
  24. ↑ "APBF 60th Anniversary". World Bridge Federation. Retrieved 29 August 2018.
  25. ↑ Yadika, Bawono (23 August 2018). "Ternyata Bos Djarum, Sosok yang Majukan Bridge di Indonesia". liputan6.com (in Indonesian). Retrieved 29 August 2018.
  26. ↑ "Asian Games 2018: 'Persistent' Indonesian billionaire wins bridge bronze aged 78". BBC Sport. 28 August 2018. Retrieved 29 August 2018.
  27. ↑ "Meet The Billionaire Bridge Player Who Holds All The Cards". NDTV. 28 August 2018. Retrieved 29 August 2018.
  28. ↑ "Person | Michael Bambang Hartono". World Bridge Federation . Retrieved 27 April 2019.

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