LeaderPortfolio
Hartono
R. Budi Hartono
Rank #179
INDONESIAfinance-investmentsBanking, tobacco

R. Budi Hartono

Net Worth
$15.811B
0% (24h)
R. Budi Hartono, born Oei Hwie Tjhong, is an Indonesian billionaire with an estimated net worth of $19.3 billion as of 2024. His primary wealth sources are banking and tobacco. Hartono, along with his brother Michael, inherited and transformed the family's modest clove cigarette company, Djarum, into a global tobacco powerhouse. Beyond tobacco, he diversified the family's business interests, including significant holdings in Bank Central Asia (BCA), and investments in electronics and real estate. He is known for maintaining a low public profile and focusing on business operations and philanthropic activities.

The Full Dossier

Early Life

Robert Budi Hartono, born Oei Hwie Tjhong on April 28, 1941, in Semarang, Central Java, Indonesia, is a prominent Indonesian businessman and philanthropist. He is the second son of Oei Wie Gwan and Goei Tjo Nio, part of a Chinese-Indonesian family. His father, Oei Wie Gwan, acquired a small clove cigarette (kretek) factory in 1951 and renamed it Djarum.

Rise to Success

Hartono inherited the family business, Djarum, a small clove cigarette company, after the passing of his father in the early 1960s. Following a catastrophic fire in 1963, Hartono and his brother, Michael, rebuilt and modernized the company. Under their leadership, Djarum was revitalized, modernizing its operations and expanding its product line. By the 1970s, Djarum began exporting internationally, introducing machine-produced brands like Djarum Filter in 1975 and Djarum Super in 1981, propelling the company to become a major player in the global market.

Key Business Strategies

Hartono diversified the family's business interests. In the late 1990s, the Hartono brothers acquired a significant stake in Bank Central Asia (BCA), one of Indonesia's largest private banks, further solidifying their financial standing. They also ventured into the electronics sector with the establishment of Polytron, a leading Indonesian electronics brand, and invested in real estate, owning prime properties in Jakarta.

Philanthropy

Robert Budi Hartono is known for his philanthropic activities and support for education and healthcare initiatives in Indonesia. He has established several foundations and donated significant funds to various charitable causes. The Djarum Foundation supports the arts, education, and environmental initiatives and has planted one million trees.

Career Timeline

2000s

Expanded into Electronics and Real Estate

Established Polytron and invested in real estate.

1990s

Acquired Stake in BCA

Acquired a significant stake in Bank Central Asia.

1972

Djarum Exports

Djarum began exporting its products abroad.

1963

Inherited Djarum

Inherited Djarum cigarette company from his father.

1941

Born

Born in Semarang, Central Java, Dutch East Indies.

Philanthropic Impact

Education, EnvironmentUndisclosed

Djarum Foundation

Supports arts, education, and environmental initiatives, including planting trees.

Wealth Trajectory