Late Billionaire Michael Bambang Hartono's Four Heirs Inherit $3.75 Billion Each
The four children of late Indonesian billionaire Michael Bambang Hartono have inherited shares worth at least US$2.93 billion (about S$3.75 billion).
Indonesian billionaire Michael Bambang Hartono has left a significant fortune to his four children, according to documents filed with the government. The four heirs each received shares worth an estimated US$2.93 billion (about S$3.75 billion) in the family's holding company, Dwimuria Investama Andalan. This marks one of Asia's largest wealth transfers in recent years.
Michael, who passed away in March at the age of 86, owned a 49% stake in Dwimuria. This stake was valued at a minimum of US$11.7 billion as of August 11, based on the company's ownership of Bank Central Asia (BCA). The heirs have inherited roughly US$11.7 billion in assets, with each receiving an equal share of Michael's stake.
Michael and his brother Robert Budi Hartono, who co-owned BCA, had a combined net worth of US$28.6 billion as of August 11, making them the richest family in Indonesia. The Hartono family's fortune is primarily derived from businesses such as banking, cigarettes, shopping malls, and plantations.
One of the heirs, Victor Hartono, has already assumed a prominent role in the family business. He succeeded his father as CEO of Djarum, a leading producer of clove-flavored cigarettes, while still serving as the company's chief operating officer. This marks a new generation of Hartono family members taking on leadership roles within the business empire.
Written by urgent.news from Tempo.co English's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
