A net worth totaling US$25.3 billion as of September 2023 places Robert Budi Hartono among the most prominent figures in the Indonesian economy.
Early Development and Inheritance
Born in 1941 as Oei Hwie Tjhong in Semarang, Central Java, he is the second child of Oei Wie Gwan and Goei Tjo Nio. His father acquired a struggling gramophone cigarette business in 1951, rebranding the venture as Djarum. Following a destructive fire in 1963 and the subsequent death of his father, the responsibility of the company fell to Hartono and his older brother, Michael Bambang Hartono. At the time of this transition, the firm occupied an uncertain market position, necessitating extensive modernization of factory equipment to stabilize production.
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Under the management of the brothers, Djarum evolved into the world's third-largest producer of clove cigarettes. The company shifted from manual operations to machine production, launching the Djarum Filter product line and the Djarum Super brand in 1981. International trade commenced in 1972, allowing the company to expand beyond domestic borders. Current market data suggests the firm continues to compete aggressively with industry rivals such as Sampoerna.
Financial Interests and Portfolio
Beyond tobacco, Hartono has maintained a significant financial presence through investments in the banking sector. He holds a substantial stake alongside his brother in Bank Central Asia, an institution formerly controlled by Sudono Salim. Forbes identified Hartono as the second-richest person in Indonesia and ranked him as the 61st wealthiest individual globally as of their 2023 assessment. His personal history includes studies at Diponegoro University.
Fast facts
- Born: 1941, Semarang
- Citizenship: Indonesia
- Primary Industry: Tobacco
- Education: Diponegoro University
- Key Holding: Djarum
- Net Worth: US$25.3 billion (September 2023)
- Residence: Kudus, Indonesia
Questions readers ask
What is the primary source of Robert Budi Hartono's wealth?
His wealth is derived primarily from his ownership of Djarum, one of the world's largest producers of clove cigarettes, and his stake in Bank Central Asia.
How did the Hartono family obtain Djarum?
The business was purchased by his father, Oei Wie Gwan, in 1951, and inherited by Robert and his brother, Michael, following their father's death.
Achievements
- Holdings: Djarum Group
- Educated at Diponegoro University
