Chinese Indonesian tobacco millionaire Robert Budi Hartono, who was born on April 28, 1941, has a net worth of $12.61 billion in 2018. The privately held Djarum, the third-largest producer of clove cigarettes in the world, is owned and operated by him. The number two cigarette company, Sampoerna, reportedly just lost some of its stock to Djarum.
Along with his brother Michael Bambang Hartono, Budi Hartono also owns an interest in Bank Central Asia, a major financial institution in Indonesia that was originally under the ownership of the wealthy Liem Sioe Liong. Budi Hartono was listed as the 71st richest person in the world and the richest Indonesian in 2020, according to the American business magazine Forbes, which estimated his net worth at $18.8 billion.
Robert Budi Hartono Bio/Wiki
|Birth Name||Robert Budi Hartono|
|Nick Name||Robert Budi Hartono|
|Age||82 years (as in 2023)|
|Sun Sign/Zodiac Sign||Taurus|
|Birth Place||Semarang, Dutch East Indies|
|Date of Birth||28 April 1941|
Marital Status, Wife and Children
|Children|| Armand Wahyudi Hartono,|
Height, Weight, and Figure Measurements
|Height (Approx.)||156 cm|
|Weight (Approx.)||82 kgs|
Extra Ordinary Features
|Race / Ethnicity||Indonesian|
|Favourite Food||Chinese Cuisine|
Father Oei Wie Gwan founded the Djarum cigarette company at a workshop in Kudus, Central Java, Indonesia, where he combined tobacco with a local spice called Clove. When not hawking and selling Djarum in the Kudus streets, Oei would be rolling the cigarettes, known as kretek for the crackling sound the burning aromatic spice made, on the shop floor. The company’s cigarette factory was nearly destroyed by fire in 1963.
In the same year that their father passed away, Robert Budi Hartono and Michael Bambang Hartono took over the company. They renovated and upgraded Djarum and set up a research and development facility to produce novel kretek blends, such as a cigarillo and a cherry-flavoured variation.
1972 marked the start of the brothers’ exportation of their smokes. At present, over 60,000 people work at their facilities in Kudus hand rolling Djarum’s kretek cigarettes, which are primarily offered to lower-income individuals. The Djarum Filter, the first machine-produced kretek built by the brothers, was invented in 1976. Five years later, they launched the machine-rolled Djarum Super, one of the most well-known brands in Indonesia today.
According to government figures, rice and processed foods are the top two household expenditures on food in Indonesia, and tobacco goods are third. Indonesia, which has the fifth-largest tobacco market in the world based on the number of cigarettes sold, is the only country in Asia that has not ratified the Framework Convention on Tobacco Control of the World Health Organization. By market value, Bank Central Asia is Indonesia’s largest financial services company.
In 2002, the brothers teamed up with San Francisco-based hedge fund Farallon Capital to acquire 51% of this company, paying around $860 million. A holding company called Farindo Investment was used to buy the stock. In 2009, Farallon gave Hartonos the last of its own in the bank.
The brothers also ventured into real estate, and in 2004 they were granted permission to redevelop the Hotel Indonesia and Hotel Wisata properties, which were part of the same complex in the heart of Jakarta. They gave the site the name Grand Indonesia and turned it into a shopping centre, offices, a five-star hotel, and flats.
Robert Budi Hartono Personal Life
Three kids and a spouse make up Budi’s family. With his family, he makes his home in Kudus, Indonesia, where he is close to the many enterprises he owns, all of which have seen rapid growth in the previous few years because of his physical involvement in almost all of them.
On April 21, 1951, Oei Wie Gwan established the Indonesian kretek (clove cigarette) brand and producer Djarums in Kudus, Central Java. Numerous domestic and foreign brands are produced by it.
The most well-known Djarum goods include Djarum Black, Super, and L.A. Lights. The business also owns the Italian football team Como 1907 and the professional badminton club PB Djarum.
From 2005 to 2011, Djarum served as the league’s primary sponsor of Indonesia’s top football league, Liga 1. It also does non-tobacco operations in the areas of technology, banking, and beverages. Non-cigarette business lines:
- Bank Central Asia (banking company)
- Blibli (e-commerce platform)
- Ranch Market (supermarket)
- Farmers Market (supermarket)
- Visinema Pictures (Productions house for movies)
- Sumber Kopi Prima (instant coffee product, branded as Delizio Caffino and Kopi Tubruk Gadjah)
- Mola (premium multiplatform services)
- Polytron (electronics company)
- Tiket.com (travel booking platform)
- Savoria (bottled drink manufacturer product, branded as Yuzu)
- Global Dairi Alami (dairy drink manufacturer product, branded as MilkLife)
PT Bank Central Asia Tbk, also referred to as Bank Central Asia (BCA), is an Indonesian bank that was established on February 21st, 1957. The largest privately held bank in Indonesia is thought to be this one. On Indonesia’s whole banking sector, the 1997 Asian financial crisis had a significant negative effect.
It specifically impacted the cash flow of BCA and potentially put its survival in danger. The Indonesian government helped BCA when it was compelled to seek it out due to a bank rush and then nationalized it. In 1998, the bank was given over to the Indonesian Bank Restructuring Agency.
Later on, in the same year, full recovery was achieved. Third-party funds were once again at their pre-crisis levels in December 1998. Instead of Rp 53.36 trillion in December 1997, BCA’s assets were Rp 67.93 trillion at the time. BCA was released by IBRA to BI in 2001 once the public’s trust in it had fully recovered.
When BCA went public, it was a significant step. In 2000, BCA’s shares, which IBRA was selling off, made about 22.55 per cent of the IPO’s total sales. 70.3 % of BCA’s total shares were still under the agency’s control after the IPO. IBRA sold an additional ten per cent of its stake in BCA in the second public offering, which happened in June and July 2001. A strategic private placement tender was used by IBRA in 2002 to sell 51% of its BCA shares.
Farindo Investment, a company based in Mauritius, won the bid. Singapore is home to a BCA rep office. NV Perseroan Dagang Dan Industrie Semarang Knitting Factory, the precursor to Bank Central Asia, was established by businessman Lim Sioe Liong in 1955. (Sudono Salim). With its head office in Jakarta, BCA started operations on February 21st, 1957.
PT Bank Central Asia replaced the Bank’s previous name with effect from September 2, 1975. (BCA). In order to launch as a Foreign Exchange Bank, BCA strengthened its distribution networks and secured a license in 1977.
Robert Budi Hartono Net Worth
The source of Hartono’s wealth is a pair of tightly held Indonesian holding corporations that administer the enterprises that his father left him. A 51 per cent ownership in PT Dwimuria Investama Andalan is where he keeps his most valuable asset. The remaining amount is his brother’s. He owns 29 per cent of publicly traded Bank Central via the holding business.
According to its 2021 first-quarter report, he holds a 27 per cent ownership stake in the owner of communications towers Sarana Menara Nusantara through the closely held PT Sapta Adhikari Investama. A second inheritance given to the brothers was Djarum, a tightly owned tobacco company with scant public disclosures.
Each sibling is given a 50% stake in accordance with their ownership interests in the holding firms, according to the analysis. According to Euromonitor data, around 18.1% of the cigarettes sold in Indonesia in 2019 were made by Djarum. Based on Gudang Garam, its nearest rival, and its market share to revenue ratio, revenue is anticipated to be around $4.6 billion.
The average enterprise value-to-Ebitda and price-to-earnings multiples of Gudang Garam are used to value it. After subtracting asset acquisitions, a liability is added to reflect the net value of Hartono’s cash investments.
In addition, dividends, taxes, market performance, and charitable contributions are taken into consideration. You’ll be shocked to learn that Robert didn’t take over management of his family’s farm until he was just 22 years old. Along with these methods, he has also accumulated wealth through holding a majority of the stock in Bank Central Asia.
He can also be a palm oil producer because he has 65,000 hectares of land in West Kalimantan. Additionally, he has invested in many different real estate projects. The Hartono brothers were listed by Forbes as the richest persons in Indonesia with a combined wealth of 35 billion dollars in a September 2019 survey on the personal finances of billionaires.
|Estimated Net Worth in 2023 (Approx)||$18.8 Billion|
|Estimated Net Worth in 2022 (Approx)||$20.6 Billion|
|Estimated Net Worth in 2021 (Approx)||$22.3 Billion|
|Estimated Net Worth in 2020 (Approx)||$22.3 Billion|
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