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Tycoon's 4 Children Inherit KSh 485 Billion Each in Peaceful Succession
['Asher Omondi']
Tuko.co.ke
Based on the family's controlling interest in Bank Central Asia (BCA), the total inheritance was valued at approximately KSh 1.51 trillion (US$11.7 billion) in mid-August, with the formally transferred shares alone worth at least KSh 378.7 billion (US$2.93 billion), Straits Times reported.
Robert Budi Hartono's fortuneMichael and his brother Robert Budi Hartono constructed their commercial empire on the foundation of a tobacco business inherited from their father, which they expanded into a diversified group of companies.
Their flagship asset, BCA, is Indonesia's largest bank by market capitalisation, valued at roughly KSh 5.69 trillion (US$44 billion).
The brothers' combined net worth has been estimated at KSh 3.71 trillion (US$28.6 billion).
Broader Shift Across Asian Business DynastiesThe handover places the Hartono family at the forefront of a wider pattern across Asia, where ageing patriarchs are transferring substantial fortunes to younger heirs.