{"id":857496,"date":"2026-08-14T06:40:57","date_gmt":"2026-08-14T06:40:57","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/857496\/"},"modified":"2026-08-14T06:40:57","modified_gmt":"2026-08-14T06:40:57","slug":"late-indonesian-tycoon-michael-hartonos-4-children-each-get-over-2-9b-in-inheritance","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/857496\/","title":{"rendered":"Late Indonesian tycoon Michael Hartono\u2019s 4 children each get over $2.9B in inheritance"},"content":{"rendered":"

The late tycoon\u2019s 49% stake in Dwimuria Investama Andalan, the holding firm through which he and his brother Robert Hartono owned more than half of Indonesia\u2019s largest lender Bank Central Asia, has been equally distributed among his four heirs, Bloomberg reported.<\/p>\n

With BCA valued at about $44 billion, Michael’s interest in Dwimuria was worth at least $11.7 billion as of Tuesday based just on the firm\u2019s stake in the lender.<\/p>\n

Michael passed away in March at age 86<\/a>. His heirs already have interests across the family’s sprawling empire.<\/p>\n

The family’s wealth transfer was one of the biggest in Asia in recent years, surpassing the roughly $10 billion estate left by Singapore banking titan Wee Cho Yaw, chairman emeritus of United Overseas Bank, who died in 2024.<\/p>\n

\"Billionaire<\/p>\n

Indonesian billionaire Michael Bambang Hartono. Photo from Como 1907’s website<\/p>\n

The Hartonos previously made Bloomberg\u2019s list of the world\u2019s richest dynasties in 2024, when they ranked 17th and were one of only two Southeast Asian clans to be named<\/a>. They are estimated to have a combined net worth of $28.6 billion as of Tuesday.While a large chunk of their wealth stems from BCA, the family\u2019s fortune traces its root to their late father Oei Wie Gwan’s Djarum, which manufactures clove cigarettes known as kretek.<\/p>\n

After their father died in 1963, the brothers took over the business and began expanding Djarum\u2019s products into overseas markets, according to The Business Times.<\/p>\n

Their wealth grew as Djarum expanded into one of Indonesia\u2019s largest kretek producers and diversified into other industries, including electronics and banking. The Hartonos are also major figures in the country’s real estate market.<\/p>\n

The brothers have kept a low profile<\/a> despite their wealth and influence, though two of Robert\u2019s sons have previously made the news.<\/p>\n

Victor Hartono, Robert\u2019s eldest son, has taken over his father\u2019s post as PT Djarum CEO, having previously served as its COO.<\/p>\n

His brother Martin Hartono founded GDP Venture and serves as its CEO. The firm has invested in a range of businesses, including Indonesian e-commerce platform Blibli, according to Forbes.<\/p>\n","protected":false},"excerpt":{"rendered":"The late tycoon\u2019s 49% stake in Dwimuria Investama Andalan, the holding firm through which he and his brother…\n","protected":false},"author":2,"featured_media":857497,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[45,49,48,133,298181,131,132],"class_list":["post-857496","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-ca","tag-canada","tag-finance","tag-late-indonesian-tycoon-michael-hartonos-4-children-each-get-over-2-9b-in-inheritance-vnexpress-international","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/857496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=857496"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/857496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/857497"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=857496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=857496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=857496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}