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2 clusters · 3 sources · 28 days · First seen · Last updated

Hartono family wealth succession and global expansion

Overview

Following the death of billionaire Michael Bambang Hartono, his four children inherited his 49 percent stake in the holding company Dwimuria Investama Andalan. This transfer, valued at at least US$2.93 billion per heir, includes significant interests in Bank Central Asia (BCA), Indonesia’s largest lender.

The family has since utilized its resources to expand international investments, deploying at least USD 1.4 billion through entities in Singapore and London. These acquisitions include a specialty paper business in the United States, an Austrian cigarette paper manufacturer, and financial services software in Singapore.

While the family views this as a strategy to diversify income streams, the expansion has faced criticism from observers such as Amir Hamzah, who cautioned that large-scale capital outflows could impact national economic interests and domestic industrial growth in Indonesia.

Entities

Robert Budi Hartono · BCA

Timeline

  1. 2 days ago

    [BUSINESS] 3 sources
    Hartono family expands international investments with USD 1.4 billion

    The Hartono family has reportedly invested USD 1.4 billion abroad via Singapore and London-based entities, sparking debate over business diversification versus domestic economic development in Indonesia.

  2. about 1 month ago

    [BUSINESS] 4 sources
    Hartono family heirs inherit billions in Indonesian wealth transfer

    The four children of late Indonesian billionaire Michael Bambang Hartono have inherited shares in the family holding company worth at least US$2.93 billion each, marking a major regional wealth transfer.

Sources

katadata.co.id · medcom.id · rmol.id