Hartono family heirs inherit billions in Indonesian wealth transfer

The four children of the late Indonesian billionaire Michael Bambang Hartono have inherited shares in the family holding company, Dwimuria Investama Andalan, valued at at least US$2.93 billion each. This transfer of assets represents one of the largest wealth successions in Asia in recent years.

According to government filings, Michael’s 49 percent stake in Dwimuria has been divided equally among his four heirs. Michael, who passed away in March at age 86, co-built the family fortune with his brother, Robert Budi Hartono. Through Dwimuria, the brothers hold a majority stake in Bank Central Asia (BCA), Indonesia’s largest lender, which had a valuation of approximately US$44 billion. As of August 11, Michael’s stake in the holding company was valued at at least US$11.7 billion.

The Hartono family business empire spans multiple sectors, including banking, tobacco (Djarum), shopping malls, and plantations. The family is recognized as Indonesia’s wealthiest, with a combined net worth reported by Forbes at approximately US$43.8 billion at the end of 2025. This inheritance follows a broader regional trend of first-generation Asian tycoons transferring massive fortunes to the next generation.