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What is R. Budi Hartono’s Net Worth?
R. Budi Hartono, a prominent Chinese Indonesian tobacco billionaire, has an estimated net worth of $26 billion. His wealth primarily stems from his ownership and management of Djarum, the world’s third-largest manufacturer of clove cigarettes, and his substantial stake in Bank Central Asia (BCA), one of Indonesia’s largest private banks.
Hartono inherited Djarum from his father, Oei Wie Gwan, at the age of 22. Despite a devastating fire that nearly destroyed the factory in the early 1960s, Hartono and his brother, Michael Bambang Hartono, rebuilt and modernized the company, leading to its significant growth and international expansion.
Over the years, Djarum introduced successful brands like Djarum Filter and Djarum Super, which bolstered the company’s market position.
In addition to his tobacco business, Hartono has diversified his investments. He and his brother acquired a stake in BCA during the Asian financial crisis of 1997-1998, which has since become a major source of their wealth.
The Hartono brothers have also ventured into other sectors, including palm oil production, real estate, and digital technology. Notably, they launched Global Digital Prima Ventures, which acquired Kaskus, Indonesia’s leading website, and listed Global Digital Niaga, the parent company of the e-commerce giant Blibli, in one of Indonesia’s largest IPOs in 2022.
Here’s the breakdown of R. Budi Hartono’s net worth:
Name: | R. Budi Hartono |
Net Worth: | $26 Billion |
Date of Birth: | 28 April 1941 |
Profession: | Businessperson |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life
Robert Budi Hartono, born Oei Hwie Tjhong in 1941 in Semarang, Central Java, Dutch East Indies (now Indonesia), is the second child of Oei Wie Gwan and Goei Tjo Nio.
His father, Oei Wie Gwan, was the founder of Djarum, a small business initially known as Djarum Gramophone, which he purchased in 1951. The company later transitioned into the tobacco industry, producing clove cigarettes.
Budi Hartono grew up in a family deeply involved in the business, which laid the foundation for his future endeavors in the tobacco and banking industries.
Career
Budi Hartono’s career took a significant turn when he inherited Djarum at the age of 22, following the death of his father. At that time, the company faced a major setback due to a fire that nearly destroyed the factory. Together with his brother, Michael Bambang Hartono, Budi rebuilt and modernized Djarum, transforming it into one of the world’s largest manufacturers of clove cigarettes.
Under their leadership, Djarum introduced successful brands such as Djarum Filter in 1975 and Djarum Super in 1981, which played a crucial role in the company’s growth and international expansion.
In addition to their success in the tobacco industry, the Hartono brothers diversified their investments. They acquired a significant stake in Bank Central Asia (BCA) during the Asian financial crisis of 1997-1998, which has since become a major source of their wealth.
The brothers have also ventured into other sectors, including palm oil production, real estate, and digital technology. Notably, they launched Global Digital Prima Ventures, which acquired Kaskus, Indonesia’s leading website, and listed Global Digital Niaga, the parent company of the e-commerce giant Blibli, in one of Indonesia’s largest IPOs in 2022.
Personal Life
Robert Budi Hartono is married and has three children. He resides in Kudus, Indonesia. Despite his immense wealth, Hartono is known for his philanthropic activities, particularly in the fields of education and healthcare. He has established several foundations and donated significant funds to various charitable causes.
In addition, Hartono is an avid badminton player and has sponsored several badminton tournaments in Indonesia, reflecting his passion for the sport.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
