R. Budi Hartono Net Worth, Biography, Career and Assets

R. Budi Hartono Net Worth $15 billion

What makes R. Budi Hartono successfully snag the first position as the richest Indonesian (alongside his brother, Michael) five times in a row? It is definitely because he controls some of the biggest companies in Indonesia; from electronic appliances to a cigarette company and banks and even property, as well as an online business in recent times.

Both brothers have an endless drive to accomplish success, and they have never been afraid of reaching into new business territories. Budi has also managed to topple the reign of Sudono Salim, who used to be renowned as the wealthiest Indonesian.

Budi Hartono and his brother Michael started their business by managing their father’s cigarette business, PT Djarum in the year 1963. At that time, the company experienced a disaster as the factory was burned and needed a lot of money to be reconstructed, but it left PT Djarum in financial trouble.

Thanks to their perseverance and business instinct, the brothers managed to lead the company into a more significant position as one of the leading cigarette companies in Indonesia, which, as of today, employ more than 20,000 employees and take up 20 percent of all the cigarettes produced in Indonesia every year.

The siblings also started property companies under the umbrella name of Djarum Group, such as Fajar Surya Perkasa and Nagaraja Lestari. These two companies are behind the construction of some of the most famous projects in Indonesia, such as the Bali Padma Hotel, Pulogadung Trade Center, and Daan Mogot Mall Jakarta.

Furthermore, the Hartono brothers also ventured into other business fields starting from the year 2002 when they acquired Bank Central Asia, and successfully increased their combined shares in the bank from 10 percent to 51 percent within a short time.

Also, they managed to move the main office of the Bank Central Asia to Grand Indonesia, a building that is owned by Michael and Budi Hartono. The brothers turned business partners also designed an electronic product brand called Polytron, which up to date, provides Indonesians with television sets, DVD players, and many more.

To cement their presence and dominance in the Indonesian business sphere, Budi and Michael Hartono erected an e-commerce office through which they can keep up with the latest trends in online business. They launched Global Digital Prima Venture, which has managed to acquire Kaskus, one of the biggest online forums in Indonesia.

The brothers also own other businesses such as mining and agribusiness, and these, in addition to many others, serve as all the proof you need regarding their business instincts and versatility. More details follow below.

R. Budi Hartono Early Life: Childhood, Education

Budi Hartono was born in Semarang, Dutch East Indies, Indonesia, on 28 April 1941. He is the brother of Michael Hartono. Their father was Oei Wie Gwan. His alma mater is Diponegoro University, at which he earned his bachelor’s degree in business.

Professional Life: Business Career

Budi’s father, Mr. Oei Wie Gwan, in 1950, purchased a small business in the field named Djarum clove Grammophon. In 1951 he changed the name of his business to Djarum and began marketing cigarettes under the name “Djarum”, and his enterprise turned out to be successful.

After a devastating fire incident that left the company nearly gutted in 1963, Djarum restructured both the factory and its business model and modernized its equipment the factory.

In 1972 the company began to export its cigars abroad. Three years later the popular brand Djarum Filter was introduced. It became the first brand to be produced by machines. What followed next was the introduction of the brand Djarum Super in 1981.

After the death of Oei Wie Gwan in the 1960s, Budi, together with his brother, Michael, inherited Djarum, which is regarded as one of the leading cigarette companies in the world today.

At the time, the brothers inherited the business, Djarum’s factory burned down and was in an unstable condition. But in the hands of the two hardworking brothers, Djarum started to grow into a giant.

R. Budi Hartono Personal Life: Family and Private Interests

Budi is married with three children. He resides in Kudus, Indonesia with his family, and stays close to his numerous businesses which have all been witnessing massive growth within the last couple of decades courtesy of his physical presence in nearly all of them.

Net Worth: Salary, Income Sources, Assets

Robert Budi Hartono is said to own a net worth of 15 billion dollars. A dedicated Chinese Indonesian tobacco businessman, he collaborated with his brother Michael to build up their father’s clove cigarette manufacturing company, Djarum, which as of today, is considered to be one of the world’s most successful producers of clove cigarettes.

It will amaze you to find out that Robert was only 22 years old when he took over the responsibility of his family’s business. He has amassed his fortunes in several other ways, as well, including controlling shares in Bank Central Asia.

He also owns 65,000 hectares of land in West Kalimantan which enables him to be a producer of palm oil. He has also invested in numerous real estate ventures.

In a September 2019 billionaires’ personal information, the Hartono brothers were reported by Forbes magazine as the wealthiest men in Indonesia with a combined wealth of 35 billion dollars.