Mang Inasal owner, Aboitizes among country’s billionaires
More News from Cebu Daily News
The architect turned entrepreneur, who made the Mang Inasal food chain popular, became the youngest billionaire in the country.
Edgar Sia, 35, became the Philippines’ 40th richest man, worth $140 million or around P5 billion, according to Forbes Magazine Asia in its website.
Jollibee Corporation’s $65 million acquisition of 70 percent stake of the Mang Inasal chain in 2010 make up the bulk of Sia’s wealth.
Sia, who’s from Roxas City in Capiz, also sits as a member of the board of the Philippine Bank of Communications, where he has a minority stake.
Two Aboitizes and Chinese tycoon John Gokongwei also made it in the country’s wealthiest list still topped by retail magnate Henry Sy, who has a net worth of $9.1 billion
Jon Ramon Aboitiz, 63, chairman of the Aboitiz Equity Ventures, and his family ranked 16th in the Forbes list and worth $955 million or around P38 billion.
AEV is the Aboitiz family’s conglomerate.
Aboitiz patriarch, Enrique, 90, uncle of Jon Ramon Aboitiz, who sits in the AEV board, also made it in the billionaires’ list. He’s the 23rd richest Filipino and is worth $400 million or around P16 billion.
Gokongwei, 84, who grew up in Cebu, is the 4th richest with a net worth of $3.2 billion or around P128 billion.
The Chinese tycoon owns owns JG Summit Holdings. He also owns Cebu Pacific Air, which is run by his son Lance, and the Robinson Malls.
The top 40 wealthiest list include the second richest Filipino, tobacco king Lucio Tan, 77, worth $4.5 billion; 3rd richest, International Container Terminal Services owner Enrique Razon Jr., 52, worth $3.6 billion; seventh richest Jaime Zobel de Ayala, 77, worth $2.2 billion, and Eduardo Cojuangco Jr., 77, $1.4 billion.
Forbes also showed three new billionaires in the list – the husband and wife team of Puregold Price Club, Lucio and Susan Co; Michael Cosiquien of Megawide Construction and Sia./dennis Singson
Get Inquirer updates while on the go, add us on these chat apps:
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94