Indonesian billionaire Michael Bambang Hartono dies at 86

Indonesian billionaire Michael Bambang Hartono, co-founder of Djarum Group, has died at 86, leaving a significant legacy.

Michael Bambang Hartono, an Indonesian billionaire who, with his younger brother, ran one of the ​country's biggest conglomerates, Djarum group, died on Thursday (March 20, 2026) at the ‌age of 86.

"It is with deep sorrow that ​Djarum family announces the passing of one ⁠of our company’s leaders, Michael Bambang Hartono," Djarum said in a statement posted on its Instagram. "We express our gratitude for his ‌dedication and service."

The cause of death was not immediately clear. Alongside his brother Robert, Budi Hartono, Michael Hartono was worth an estimated $43.8 billion, according to Forbes in 2025, putting them at the top of Indonesia's rich list.

The Chinese-Indonesian family is famously media-shy and has disclosed little about their personal lives or their vast holdings.

The ​brothers took over Djarum, ‌a major clove cigarette manufacturer in the world's No. 2 tobacco market, after their father's death in 1963.

They have since expanded into a range of sectors ‌, including electronics, food and beverages, palm plantations, telecommunication towers ​and technology, with many of those business now run by younger family member.