Lucio Tan
From Wikipedia, the free encyclopedia
Lucio Tan (born July 17, 1934) is a prominent Filipino business magnate. He owns Asia Brewery, the 2nd largest brewer in the Philippines, Tanduay Holdings, one of the world's largest rum makers, Fortune Tobacco, the largest tobacco company in the country, Philippine Airlines, Philippine National Bank, the 5th largest bank in the country, Allied Bank the Philippines' 8th largest lender. These companies are just a few of some 300 companies that Mr. Tan controls. The total value of his business empire according to some estimates would not be less than $20 billion, and he controls 40 to 60% of that.
He is credited for returning Philippine Airlines to profitability, after years of losses.
As of 2006, he is the 2nd richest person in the Philippines and the 451st richest person in the world according to Forbes.
Tan was born on July 17, 1934, in Amoy, Fujian, Republic of China. His parents moved to the Philippines when he was a child. He studied chemical engineering at Far Eastern University in Manila, but quit before graduating to take a job in a tobacco factory. Though a non-smoker, he started a cigarette company called Fortune Tobacco in 1966.
He was a known ally of former President Ferdinand Marcos.
He is considered the richest industrialist in the Philippines, with a personal net worth of at least US$1.5 billion. Earlier controversies about his fortune as a result of tax evasion practices has been proven false by the Supreme Court[citation needed].
[edit] External links
- ABS-CBN News - Tan, Sy, Ayala on Forbes billionaires list
- Forbes.com - World's Richest People 2006 - Lucio Tan
- Lucio Tan biography
In 2007, Lucio Tan goes down to being the 2nd richest person in the Philippines with net of $2.3 Billion, according to Forbes magazine.
