This just out on Forbes’ Rich List in the Philippines:
Factory worker’s son joins Philippine billionaires
Agence France-Presse
Last updated 03:36pm (Mla time) 10/18/2007MANILA, Philippines — Andrew Tan, the son of a poor immigrant factory worker from China, has reportedly become the newest addition in more than a decade to the ranks of billionaires in the Philippines.
After restructuring his holding company Alliance Global, Tan’s net worth more than doubled to $1.1 billion from $480 million, Forbes Asia magazine said in its 2007 Philippine Rich List published Thursday.
Tan made his fortune from three major businesses: property, alcohol and fast-food restaurants. His wealth propelled him to fourth on Forbes Asia’s ranking of the 40 richest people in the Philippines.
Property and telecommunications tycoon Jaime Zobel de Ayala and family jumped from third to first place with a net worth of $2 two billion.
Shopping mall king Henry Sy was second with a net worth of $1.7 billion and tobacco, alcohol and airline tycoon Lucio Tan came in third with $1.6 billion.
Read the rest of the article here:
http://business.inquirer.net/money/breakingnews/view_article.php?article_id=95252
President Gloria Arroyo chats with Megaworld corporation president Andrew Tan. Photo credit: AFP.
December 25th, 2007 at 7:18 am
thats good 4 them ,but sana spend naman nila dito sa pinas dito sila nagpayaman tapos deposit and spend more n us ,aussie, europe,and sana tumulong naman cla sa mga less fortunate pinoy
December 16th, 2007 at 12:09 am
I hope these guys could bring their wealth to where they are going after death, something that is certain…than wealth.
November 19th, 2007 at 5:14 am
i am verty inspired!
November 11th, 2007 at 7:10 pm
They cannot take their riches to Heaven, Jesus said they received already their riches. If they don’t give to the poor they are useless person. Kaso nga karamihan ng yumaman magnanakaw!
November 6th, 2007 at 11:33 am
seriously, i dont think Forbes should consider Tan as a Pinoy billionaire. as a billionaire, oo pero pinoy? nope. he’s chinese! as well as the zobel and the ayalas!
meron ba talgang pilipinong billionaire?? as in 100% Filipino??