Michael Hartono, Billionaire Indonesian Bank Owner, Dies at 86

Michael Hartono, an Indonesian billionaire and major shareholder of the country’s largest lender by market value, PT Bank Central Asia, has died. He was 86.

Hartono passed away in Singapore on Thursday afternoon, according to Budi Darmawan, corporate secretary of Djarum Group, one of Hartono’s companies. Together with his younger brother, Budi Hartono, 84, the pair have a combined net worth of around $31 billion, according to the Bloomberg Billionaires Index.