InfoSAWIT, JAKARTA – Indonesia has lost one of its most influential business figures. Michael Bambang Hartono, the man behind the success of the Djarum Group and one of the richest individuals in the country, passed away on Thursday (March 19, 2026) at 13:15 Singapore time at the age of 86.
The news was confirmed by the Corporate Communication Senior Manager of Djarum Group, Budi Darmawan. “The entire PT Djarum family expresses its deepest condolences on the passing of Mr. Michael Bambang Hartono on Thursday, March 19, 2026, at 13:15 Singapore time,” he said, as reported by InfoSAWIT from Tribunnews.com on Friday (March 20, 2026).
The passing of the man widely known by his birth name, Oei Hwie Tjhong, marks a significant loss not only for the business world but also for Indonesia’s modern economic journey. He is scheduled to be laid to rest in Central Java.
The Architect of a Business Empire
Michael Bambang Hartono was born in Kudus, Central Java, on October 2, 1939. He was the son of Oei Wie Gwan, the founder of Djarum cigarette company. Together with his younger brother, Robert Budi Hartono, he continued and expanded the family business into one of the largest conglomerates in Indonesia.
Under his leadership, Djarum Group not only sustained its presence in the cigarette industry but also diversified extensively into strategic sectors, including banking through Bank Central Asia (BCA), property, technology, and agribusiness.
He pursued his formal education at the Faculty of Economics and Business, Diponegoro University, from 1959 to 1963. However, his remarkable achievements were largely shaped by his sharp business instincts and long-term vision developed over decades.
According to InfoSAWIT records, Djarum Group’s expansion into the palm oil plantation sector became one of its key strategies to strengthen its business portfolio.
Recognizing the strong prospects of the palm oil commodity, the Hartono brothers developed this sector through PT Hartono Plantation Agro (HPI Agro), which manages tens of thousands of hectares of oil palm plantations in Landak Regency, West Kalimantan.
HPI Agro currently operates more than 30 plantation estates, six palm oil mills, and one kernel crushing plant, making it a notable player in the industry.
This move reflects a diversification strategy aimed not only at profitability but also at long-term sustainability in natural resource-based sectors.
Businessman and Athlete: A Dual Commitment
Beyond business, Michael Bambang Hartono was known for his strong dedication to the sport of bridge. He even achieved notable success by winning a medal at the 2018 Asian Games.
His passion for bridge was more than a hobby—it reflected discipline, strategic thinking, and perseverance, values that were also evident in his business journey.
Michael Bambang Hartono’s passing leaves a profound legacy in Indonesia’s business landscape. He was not only a successful entrepreneur but also a symbol of transforming a family business into a modern conglomerate with cross-sector diversification.
From cigarettes to banking, from technology to palm oil plantations, his footprint has shaped Indonesia’s economic landscape for decades.
Now, the baton of this vast business empire will continue, carrying forward the vision built by one of the nation’s greatest business maestros. (T2)
