The four children of Michael Bambang Hartono, will each receive at least US$2.93 billion (S$3.75 billion) in shares, marking one of Asia's biggest wealth transfers in recent years. 

Hartono, an Indonesian billionaire, died at the age of 86 on March 19 earlier this year.

Based on Forbes, Michael was worth an estimated $24.2 billion as of March 10, 2026, putting him on top of Indonesia's rich list.

Michael and his brother, Robert Budi Hartono, owned just over half of Bank Central Asia, Indonesia's largest lender, and other businesses through Dwimuria Investama Andalan, reported Bloomberg.

Michael's four children will receive equal shares of his 49 per cent stake in Dwimuria, based on a government filing.

The Chinese-Indonesian family is known for keeping a low profile, revealing little about their personal lives or vast business holdings.

Based on Dwimuria's ownership of Bank Central Asia alone, Michael's stake in the holding firm was worth at least $14.9 billion as of Aug 11, Bloomberg reported.

The Hartono family also owns Djarum, one of the largest clove cigarette manufacturers in the world, according to Reuters.

Djarum also expanded into a range of sectors including electronics, food and beverages, palm plantations, telecommunication towers and technology, with many of those businesses now run by Michael's children.

According to Bloomberg, the Hartono's estimated $15 billion transfer of inheritance exceeds that of the $12.8 billion passed down from Singaporean tycoon Wee Cho Yaw after his death in 2024.

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dana.leong@asiaone.com