Early Life
Michael Bambang Hartono was born in Kudus, Central Java, Indonesia, on October 2, 1939. His father, Oei Wie Gwan, acquired a small kretek cigarette factory called Djarum Gramophon in 1951, later renaming it Djarum. Hartono studied economics and business at Diponegoro University after completing high school.
Rise to Success
In 1963, following a fire and his father's death, Michael and his brother Robert Budi Hartono inherited the Djarum factory. They rebuilt and modernized the company, expanding into exports in 1972 and diversifying into various sectors. Key ventures included founding the electronics brand Polytron in 1975 and acquiring a significant stake in Bank Central Asia (BCA) during the 1997 Asian financial crisis.
Key Business Strategies
Hartono's business acumen is evident in the strategic growth of Djarum and its expansion into banking and real estate. The brothers diversified into banking by acquiring a major stake in Bank Central Asia (BCA), which has since become Indonesia’s largest private bank. They expanded into the online retail sector with e-commerce giant Blibli.
Philanthropy
Michael Hartono is actively involved in philanthropy through the Djarum Foundation, supporting education, sports, environmental conservation, and social initiatives. The foundation has donated to various causes, including infrastructure upgrades at Diponegoro University's School of Economics.