Indonesian Tycoon Michael Bambang Hartono Dies at 86

Jakartaweekly.com — Michael Bambang Hartono, one of Indonesia’s most prominent business figures and co-owner of the Djarum Group, has died at the age of 86.

According to a company statement, Hartono passed away on March 19, 2026, at 13:15 Singapore time. The announcement was confirmed by a representative of the Djarum Group.

Hartono was part of the Hartono family, which controls Djarum Group and holds a major stake in Bank Central Asia (BCA), one of Indonesia’s largest private lenders.

Born on October 2, 1939, Hartono, along with his brother Robert Budi Hartono, inherited and expanded the family business into one of Indonesia’s largest conglomerates.

Beyond business, Hartono was also known for his involvement in bridge, representing Indonesia at the 2018 Asian Games, where he became one of the country’s oldest athletes and won a bronze medal.

Hartono played a key role in transforming Djarum from a traditional cigarette manufacturer into a diversified business group with interests spanning banking, electronics, and plantations. The family’s strategic investment in BCA following the Asian financial crisis positioned them among Indonesia’s wealthiest individuals, with a long-standing presence on global rich lists.

Over the decades, the Hartono family became synonymous with disciplined business expansion and long-term investment strategy. Their influence extended beyond corporate achievements, contributing to Indonesia’s economic development and shaping the country’s modern business landscape.

Details regarding funeral arrangements have not yet been disclosed.