Michael Bambang Hartono, Djarum and BCA Owner, Dies at 86
Jakarta, Indonesia – Michael Bambang Hartono, the owner of Indonesian conglomerate Djarum Group and a major shareholder in Bank Central Asia (BCA), passed away on Thursday, March 19, 2026, at the age of 86. The news was confirmed by Budi Darmawan, Corporate Communication Senior Manager of Djarum Group.
A Legacy in Business
Hartono died at 1:15 PM Singapore time, according to the official statement. He is widely recognized for transforming Djarum from a home industry into one of Indonesia’s largest cigarette manufacturers, alongside his brother, Robert Budi Hartono. The Hartono brothers continued and expanded the business initially established by their father, Oei Wie Gwan.
Under the Hartono family’s leadership, Djarum diversified beyond the tobacco industry into various strategic sectors. The family also became the controlling shareholder of Bank Central Asia (BCA) following the 1998 economic crisis, acquiring the bank from the Salim Group Tribun Sumsel.
Beyond Business: Philanthropy and Sports
Hartono’s influence extended beyond the corporate world. Through the Djarum Foundation, he actively engaged in social initiatives focusing on education, sports, environmental conservation, and cultural preservation. Kompas reports his contributions were significant.
He was also a prominent figure in Indonesian sports, particularly badminton, through PB Djarum, which has produced numerous internationally acclaimed athletes. Hartono himself was a national bridge athlete, earning a bronze medal at the world championships and competing at the 2018 Asian Games. Liputan6.
Final Arrangements
As of today, details regarding the location of the funeral have not been officially announced, though initial reports suggest it may take place in Central Java. Liputan6. The passing of Michael Bambang Hartono marks a significant loss for the Djarum Group and the Indonesian business community.