<\/p>\n
The children of Michael Bambang Hartono received shares worth at least $2.93 billion in the family\u2019s holding company, marking one of Asia\u2019s biggest wealth transfers in recent years.<\/p>\n
Hartono died in March at the age of 86. He and his brother Robert Budi Hartono owned just over half of Bank Central Asia, Indonesia\u2019s largest lender, and other businesses through PT Dwimuria Investama Andalan. Michael\u2019s 49% stake in Dwimuria has been split equally among his four heirs, according to a government filing.<\/p>\n
Based on Dwimuria\u2019s ownership of Bank Central Asia alone, Michael\u2019s stake in the holding firm was worth at least $11.7 billion as of August 11. His children also have interests in various parts of the family\u2019s business empire, which spans banking, cigarettes, shopping malls and plantations. The family owns PT Djarum, one of Indonesia\u2019s largest producers of clove-scented cigarettes known as \u201ckretek.\u201d<\/p>\n
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The inheritance is the latest example of how fortunes long held by Asia\u2019s richest tycoons are being handed down to the next generation. The Hartono family transfer tops the roughly $10 billion left behind by Singaporean Wee Cho Yaw, the late patriarch of United Overseas Bank.<\/p>\n
The Hartonos had a combined net worth of $28.6 billion as of August 11, according to the Bloomberg Billionaires Index, making them Indonesia\u2019s richest family. A family representative declined to comment on the inheritance filing.<\/p>\n
The two brothers\u2019 wealth surged after they expanded a cigarette business inherited from their father and moved into finance. Bank Central Asia is now Indonesia\u2019s largest lender by market value at about $44 billion.<\/p>\n
Victor Hartono, the eldest son of Robert Budi, has succeeded his father to become chief executive officer of PT Djarum, a separate filing showed. He was previously chief operating officer.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#children #Indonesias #richest #family #inherit #3bn<\/p>\n","protected":false},"excerpt":{"rendered":"
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