⬅ # 82 Gennady Timchenko|# 84 Stefan Quandt

# 83 R. Budi Hartono 


Real Time Net Worth
as of 7/12/2024
$54.7M (0.23%)

# 83 R. Budi Hartono 


Real Time Net Worth
as of 7/12/2024
$54.7M (0.23%)
OccupationOwner, Djarum
Source of WealthBanking, Tobacco
ResidenceKudus, Indonesia
Marital StatusMarried
Age-Adjusted Net Worth$5.09B
R. Budi Hartono
R. Budi Hartono
Net worth: $24.1B

Self-Made Score 

Wealth History

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Robert Budi Hartono, born on April 28, 1941, is an Indonesian tobacco billionaire.
In 1951, at the age of 22, Robert inherited Djarum, a small clove cigarette business, from his father Oei Wie Gwan.
Djarum faced challenges after a fire in 1963, but under the Hartono brothers, it modernized and expanded.
Djarum became the world's third-largest clove cigarette maker and expanded internationally, introducing brands like Djarum Filter (1975) and Djarum Super (1981).

Business Ventures

Apart from Djarum, Robert, along with his brother Michael, owns a stake in Bank Central Asia (BCA), one of Indonesia's largest banks.
They acquired the BCA stake after the Salim family lost control during the 1997-1998 Asian economic crisis.
In 2022, the Hartono brothers listed Global Digital Niaga, which owns the e-commerce giant Blibli, in Indonesia's second-largest IPO, raising $510 million.

Personal Life

Robert Budi Hartono, born as Oei Hwie Tjhong in 1941, is the second child of Oei Wie Gwan and Goei Tjo Nio.
He is married, has three children, and resides in Kudus, Indonesia.

How long would it take you to become as rich as R. Budi Hartono?

If you started with $10,000 and invested an additional $500 each month at a 44.15% CAGR, it would take you 5 years to reach R. Budi Hartono's net worth of $24.1B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 51.86% compared to 19.03% for the S&P 500 benchmark.

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R. Budi Hartono is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For R. Budi Hartono, Banking and Tobacco are the primary sources. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey