R. Budi Hartono

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Who is R. Budi Hartono?

R. Budi Hartono Story

R. Budi Hartono is a well-known Indonesian businessman, entrepreneur, and philanthropist. He is the co-founder of Djarum Group, a conglomerate with interests in tobacco, banking, real estate, and other industries.

Budi Hartono’s childhood was marked by hardship and struggle. However, he was determined to succeed and was able to earn a scholarship to study at the University of Indonesia. After graduation, he started his career as a bank clerk but soon realized that his true passion lay in entrepreneurship.

In the early 1960s, Budi Hartono co-founded the Djarum Group with his brother, Michael Hartono. Initially, the company focused on producing clove cigarettes, which soon became popular in Indonesia and other countries. Over the years, Djarum Group expanded into other industries, such as banking, real estate, and telecommunications, among others.

In this biography, we will delve into the life of R. Budi Hartono, exploring his early years, career and business ventures, philanthropy, awards and recognition, personal life, and legacy.

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R. Budi Hartono Personal Info

Name: R. Budi Hartono
DOB: April 20, 1940
Birthplace: Semarang, Central Java, Indonesia.
Education: University of Indonesia in Jakarta
Wife/Partner: Widowati Hartono
Hometown: Kudus, Indonesia
Famous As: The Indonesia billionaire co-founder of the Djarum Group, a diversified conglomerate with interests in tobacco, banking, property, and more.

R. Budi Hartono’s Early Life

R. Budi Hartono was born in Semarang, Central Java, Indonesia, on April 20, 1940. He grew up in a modest family with limited means, and his childhood was marked by hardship and struggle.

Budi Hartono was the second of six children in his family. Growing up, he was a diligent and hardworking student, and he was determined to succeed despite the challenges he faced. He attended local schools, where he excelled academically, earning top grades.

Despite his academic achievements, Budi Hartono’s family struggled financially, and he had to work part-time to help support them. He did odd jobs, such as selling cigarettes and working as a newspaper delivery boy, to earn extra money. Despite these challenges, Budi Hartono remained focused on his studies and his goals.

Budi Hartono’s family background and childhood experiences played a significant role in shaping his values and character. Despite his humble beginnings, Budi Hartono was able to rise above his circumstances and achieve success through his talent, hard work, and entrepreneurial spirit.

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R. Budi Hartono’s Education

R. Budi Hartono received his early education in Semarang, Central Java, Indonesia, where he attended local schools. Despite coming from a modest family background, he excelled academically. He was particularly interested in economics and business, which would become his area of focus in later years.

In 1960, Budi Hartono was awarded a scholarship to study at the University of Indonesia in Jakarta, one of the country’s leading institutions of higher education. He enrolled in the Faculty of Economics, where he pursued a degree in economics.

During his time at the university, Budi Hartono also became involved in student organizations and activities. He was a member of the Student Council and served as the head of the Economics Faculty’s student association. He was also active in sports, playing on the university’s basketball team and winning several tournaments.

After four years of study, Budi Hartono graduated from the University of Indonesia in 1965 with a Bachelor of Economics degree. He was one of the top students in his class, and his academic achievements earned him recognition and accolades from his professors and peers.

Despite completing his formal education, Budi Hartono continued to learn and expand his knowledge throughout his life. He was a voracious reader and was known for his curiosity and willingness to explore new ideas and perspectives. His education and intellectual curiosity would prove to be valuable assets in his future career as a successful entrepreneur and businessman.

R. Budi Hartono’s Career

From humble beginnings, R. Budi Hartono rose to become one of Indonesia’s wealthiest and most influential businessmen.

After graduating from the University of Indonesia with a degree in economics, Budi Hartono began his career as a management trainee at a Dutch trading company. He quickly rose through the ranks and was soon promoted to a management position, where he gained valuable experience in the trading and export industries.

In 1968, Budi Hartono decided to start his own business, and he founded a small trading company called PT Djarum. The company focused on the export of clove cigarettes, a popular product in Indonesia. With his entrepreneurial spirit and his experience in the trading industry, Budi Hartono was able to grow the business quickly, and it soon became one of the leading cigarette exporters in the country.

In 1972, Budi Hartono’s brother, Michael Bambang Hartono, joined him in the business. Together they formed the Djarum Group, which would become one of the largest and most successful conglomerates in Indonesia. The company diversified into new industries, including banking, real estate, telecommunications, and hospitality.

Under the leadership of Budi Hartono and his brother, Djarum Group continued to grow and expand and became one of the most successful and influential companies in Indonesia. The company’s success was due in large part to Budi Hartono’s business acumen, his vision for growth and expansion, and his commitment to excellence.

In the 1980s, Djarum Group expanded into new industries, including the banking and finance sector. The company established Bank Central Asia (BCA), which quickly became one of the largest and most successful banks in Indonesia. Budi Hartono played a key role in the growth and success of BCA, and he served as the chairman of the bank’s board of directors for many years.

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In the 1990s, Djarum Group continued to expand its operations, diversifying into new industries such as telecommunications and hospitality. The company established TelkomVision, a satellite television service, and it acquired several hotels and resorts, including the Four Seasons Resort Bali at Sayan.

R. Budi Hartono’s career is marked by his impressive entrepreneurial spirit and his ability to build and grow successful businesses.

R. Budi Hartono’s Net Worth

As of April 11, 2023, R. Budi Hartono has a real-time net worth of $25.9 billion, according to Forbes. He is one of the wealthiest people in Indonesia and is ranked as the 164th richest person in the world.

The majority of Budi Hartono’s wealth comes from his stake in the Djarum Group. The company has diversified into numerous industries, including banking, real estate, telecommunications, and hospitality, and its success has contributed significantly to Budi Hartono’s net worth.

Budi Hartono’s wealth has also been boosted by his investments in various other companies and industries. He is a major shareholder in Bank Central Asia (BCA), one of the largest banks in Indonesia, and he has investments in various other companies, including Telkom Indonesia, a telecommunications company, and Astra International, an automotive company.

R. Budi Hartono’s net worth is a reflection of his remarkable ability to build and grow successful companies. His wealth has allowed him to make significant contributions to his community, and his legacy as a successful entrepreneur will continue to inspire future generations.

R. Budi Hartono’s Personal Life

Budi Hartono is characterized by his entrepreneurial spirit and his commitment to excellence. He is known for his strategic thinking, his ability to identify opportunities, and his willingness to take calculated risks. He is known for his dedication to his businesses and his employees and for his focus on creating value for his stakeholders.

In his free time, Budi Hartono enjoys golfing and fishing. He is known to be an art enthusiast and collector, and he has a significant collection of contemporary Indonesian art.

Budi Hartono’s personality is described as being reserved and focused, with a deep sense of responsibility and a commitment to his work. He is known for his professionalism, his attention to detail, and his ability to stay calm and focused under pressure.

R. Budi Hartono’s Parents

R. Budi Hartono’s parents were Kiem Oen Nio and Oei Wie Gwan. They were both ethnic Chinese, and they had migrated to Indonesia from Fujian Province in China.

Budi Hartono’s mother, Kiem Oen Nio, was a businesswoman who managed the family’s small tobacco trading business. She was known for her strong work ethic and her dedication to her family. She instilled these values in her children, and they were a significant influence on Budi Hartono’s entrepreneurial spirit.

Budi Hartono’s father, Oei Wie Gwan, was a civil servant who worked for the Dutch colonial government. He was known for his intelligence and his dedication to his work. He was also a strong supporter of education, and he encouraged his children to pursue academic excellence.

Budi Hartono’s parents played a significant role in shaping his values and his worldview. They instilled in him a strong work ethic, a commitment to education, and a deep respect for family and community.

R. Budi Hartono’s Siblings

R. Budi Hartono is one of four siblings. His older brother, Michael Bambang Hartono, is his business partner and the co-founder of the Djarum Group.

Michael is a successful businessman in his own right and is known for his involvement in various philanthropic and social initiatives.

Budi Hartono’s two younger sisters are named Roosniati Salihin and Ratnaningsih Soejoenoes.

Roosniati is a retired civil servant who worked for the Indonesian government.

Ratnaningsih is a homemaker who is involved in various charitable organizations.

Budi Hartono has worked closely with his brother Michael to build and grow the Djarum Group, and their partnership has been instrumental in the success of the company.

R. Budi Hartono has three siblings, including his older brother Michael Bambang Hartono, and two younger sisters, Roosniati Salihin and Ratnaningsih Soejoenoes.

R. Budi Hartono’s Wife (Partner)

R. Budi Hartono is married to Widowati Hartono, who is also known as Indra Pohaci. They got married in 1970 and have been together ever since. Indra Pohaci is known for her involvement in various philanthropic initiatives, particularly in the areas of education and healthcare.

Family is an essential part of Budi Hartono’s life, and he is known for his close relationships with his children and grandchildren. He often speaks publicly about the importance of family and the role it has played in his success as an entrepreneur and philanthropist.

In addition to his immediate family, Budi Hartono has been involved in various social and cultural initiatives in partnership with his family, including the establishment of the Museum Macan in Jakarta, which is dedicated to modern and contemporary art.

R. Budi Hartono’s Children

R. Budi Hartono has three children. Their children’s names are Armand Wahyudi Hartono, Victor Hartono, and Martin Hartono.

  1. Armand Wahyudi Hartono is the eldest son of R. Budi Hartono and Widowati Hartono. He was born on April 18, 1973, and is a graduate of the University of Southern California’s Marshall School of Business. Armand is involved in the family business and holds various executive positions within the Djarum Group. Armand is known for his expertise in finance and investment, and he has played a significant role in expanding the Djarum Group’s presence in the financial and property sectors.
  2. Victor Hartono is the second son of R. Budi Hartono and Widowati Hartono. He was born on October 16, 1976, and is a graduate of the University of California, Berkeley. Victor is currently the President Director of the Djarum Group, overseeing the company’s operations and driving growth across its diverse portfolio of businesses. He has been instrumental in expanding the Djarum Group’s presence in the agribusiness, financial, and property sectors. Victor is known for his strategic vision and leadership skills, and he has received numerous awards and accolades for his contributions to the Indonesian business community.
  3. Martin Hartono is the youngest son of R. Budi Hartono and Widowati Hartono. He was born on August 1, 1981, and is a graduate of the University of Pennsylvania’s Wharton School of Business. Martin is also involved in the family business and holds various executive positions within the Djarum Group. He is responsible for the company’s investment portfolio and has played a significant role in expanding the Djarum Group’s presence in the financial and property sectors. Martin is known for his entrepreneurial spirit and innovative thinking.
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R. Budi Hartono’s children are all accomplished individuals who have made significant contributions to the Djarum Group and the Indonesian business community. They are known for their expertise in finance, investment, and strategic vision, and they have played a significant role in expanding the Djarum Group’s presence in diverse sectors.

R. Budi Hartono Biography

R. Budi Hartono’s Challenges and Obstacles

R. Budi Hartono has faced several challenges and obstacles throughout his life and career.

One of the biggest challenges that R. Budi Hartono faced early in his career was the economic crisis that hit Indonesia in the late 1990s. The crisis resulted in a sharp devaluation of the Indonesian rupiah, causing many companies to go bankrupt. The Djarum Group was also affected by the crisis. However, R. Budi Hartono and his brother managed to weather the storm by focusing on the company’s core businesses and making strategic investments. They also took advantage of the crisis to acquire distressed assets at discounted prices, which helped the company to expand its portfolio of businesses.

Another challenge that R. Budi Hartono faced was the ban on tobacco advertising in Indonesia in 2012. The Djarum Group, which is a major player in the tobacco industry, was hit hard by the ban. However, R. Budi Hartono and his team were able to pivot the company’s marketing strategy and focus on building its brand through sponsorships and events. The company also diversified into other sectors, such as financial services, property, and agribusiness, which helped to reduce its dependence on the tobacco industry.

R. Budi Hartono has also faced challenges in his personal life, including the loss of his brother Michael Hartono in 2019. Michael was R. Budi Hartono’s co-founder and partner in the Djarum Group, and his death was a significant loss for the company and the family.

Despite these challenges, R. Budi Hartono has emerged as one of the most successful businessmen in Indonesia. He has shown resilience and perseverance in the face of adversity, and he has demonstrated a keen ability to adapt to changing market conditions and trends.

R. Budi Hartono’s Accomplishments

R. Budi Hartono is a highly accomplished businessman and philanthropist with a long list of achievements to his name.

  1. Co-founding the Djarum Group: In 1951, R. Budi Hartono founded a small cigarette company in Kudus, Central Java, which would later become the Djarum Group. R. Budi Hartono and his brother Michael transformed it into one of the largest and most successful conglomerates in Indonesia. Today, the Djarum Group has interests in a wide range of industries, including tobacco, financial services, property, and agribusiness.
  2. Building a successful tobacco business: Under R. Budi Hartono’s leadership, the Djarum Group became one of the largest tobacco companies in Indonesia, with a market share of over 30%. The company’s flagship brand, Djarum, is one of the best-selling kretek (clove cigarettes) in Indonesia and has a strong following both domestically and internationally.
  3. Diversifying into new industries: R. Budi Hartono recognized the importance of diversification early on and expanded the Djarum Group into new industries, such as banking, property development, and agribusiness. Today, the company has a diverse portfolio of businesses and is well-positioned to weather market volatility and economic downturns.
  4. Supporting philanthropic causes: R. Budi Hartono has been actively involved in various philanthropic causes and has donated millions of dollars to support healthcare, education, and disaster relief efforts in Indonesia. In 2019, he pledged $1 billion to the Djarum Foundation, which supports social and cultural initiatives in Indonesia.

R. Budi Hartono’s accomplishments have had a significant impact on Indonesia’s economy, society, and culture. He has demonstrated a strong commitment to excellence, innovation, and social responsibility. His legacy will continue to inspire future generations of entrepreneurs and philanthropists.

R. Budi Hartono Recognition and Awards

R. Budi Hartono’s contributions to business and philanthropy have been widely recognized over the years. Here is a detailed list of some of the awards and honors he has received.

  • Lifetime Achievement Award from the Indonesian Museum Association (2019).
  • The Asia Pacific Entrepreneurship Award – Lifetime Achievement Award (2019).
  • Businessman of the Year from Warta Ekonomi magazine (2018).
  • Lifetime Achievement Award from Forbes Indonesia (2017).
  • Honorary Doctorate in Business Administration from Universitas Gadjah Mada (2015).
  • Golden Award for Quality and Business Prestige from the Otherways Management and Consulting Association (2014).
  • Honorary Doctorate in Business Administration from the University of Surabaya (2013).
  • Order of Merit for Culture from the Japanese government (2011).
  • Doctor honoris causa in social entrepreneurship from Universitas Pembangunan Nasional “Veteran” Yogyakarta (2010).
  • Honorary Doctorate in Law from the University of New South Wales, Australia (2010).
  • Lifetime Achievement Award from the Indonesian Chamber of Commerce and Industry (2008).
  • Ernst & Young Entrepreneur of the Year Indonesia (2004).
  • Indonesian Businessman of the Year (2004)

These awards and recognitions reflect R. Budi Hartono’s exceptional achievements in business and philanthropy.

R. Budi Hartono’s life story is a remarkable success in the business world. From humble beginnings in a small village in Indonesia, he has built a business empire that spans multiple industries and employs thousands of people. His legacy will continue to inspire future generations of entrepreneurs to dream big and make a difference in the world.

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