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.
October 16th, 2008 at 6:26 pm
Its good to know that there are people who can really work hard and make it, its a good examples for the Filipinos . and for everyone. Yes they cant bring it to after life but they can surely help alot of people who really needs it. They have more way of helping.. and i think they really do…. Kawawa naman ang umaman because of working hard… mapag sasabihang magnanakaw or masamang tao… may God bless u with your belief.
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??
October 24th, 2007 at 3:42 pm
ang yayaman nila……
sana wala silang CONTRACTUAL employee…..
October 24th, 2007 at 3:41 pm
ang yayaman nila…….
sana wala silang CONTRACTUAL
October 23rd, 2007 at 2:33 pm
trivia: who’s the richest Filipino of all time?
Today the richest is Zobel family at $2 billion. In 1996 Asiaweek estimated the fortune of the late Tan Yu at $12 billion.
In 1987 Guinness Book of World Records reported the ill-gotten wealth of Marcos to be up to $10 billion. In today’s dollar value, that’s $18.2 billion!
October 20th, 2007 at 3:21 pm
I would rather see them giving their employees proper wages and benefits, not just to comply with the minimum requirements of the law.
October 19th, 2007 at 8:13 pm
@ JSA, they are sharing their fortune to others with the thousands of jobs that they are creating.
October 19th, 2007 at 8:18 am
[...] Money Smarts : New Pinoy billionaire [...]
October 19th, 2007 at 2:15 am
Totoy gumising ka baliktarin mo na ang tatsulok!!!
October 19th, 2007 at 1:05 am
They deserve it! They all work very hard to get there. I know Henry Sy personally from way back, and know that his wife and the rest of his family, and Senen Mendiola his friend, help steered him to where he and his family are where they’re at now. he’s also managed to stay grounded if the little I hear about him, all the way here in America, are true.
Hard work never hurt anyone. I know some people are envious, but I’m proud of them because even if some of them are not natural born Filipinos, they are Filipinos. Great work guys! I only hope you’re sharing your largesse with the less fortunate in our country.
October 18th, 2007 at 10:16 pm
Great news. It’s always an inspiration!
Yun nga lang US dollar isnt worth as much as it used to. 6 yrs ago US$1B is EUR 1.2B. Now it’s barely EUR 700M. Heck it’s not even Can$1B now!
But still lotsa moolah.
October 18th, 2007 at 9:46 pm
Erap and PGMA?