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A Story of Djarum Group $44 Billion Empire

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Algo Research Team

Company | Aug 20, 2025 | Views: 2221

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Key Summary:

  • From tobacco manufacturing to a diversified conglomerate
  • The Group's most successful and valuable company is BBCA
  • Strategic succession and next generation will shape its future

From humble beginnings to becoming one of Indonesia’s largest conglomerates, Djarum Group’s diversified businesses have grown from a small tobacco manufacturing in Kudus, Central Java to banking, technology, property, and more.


Its presence in Indonesia was first established under the leadership of Oei Wie Gwan. In 1927, Oei Wie Gwan opened a fireworks factory called Mercon Cap Leo (Mertjon tjap Leeuw), which became the largest in the country.

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