Lucio Tan (center) with John Gokongwei (left) and Alfred Ty at 2011 trade forum at China World Hotel in Beijing. (File photo by EDWIN BACASMAS / Philippine Daily Inquirer)
MANILA, Philippines — Taipan Lucio Tan is recuperating from COVID-19 while fellow company directors and employees expressed their hopes for his speedy recovery.
Tan, a billionaire who founded one of the country’s largest conglomerates with interests in consumer products, airlines and education, was hospitalized after testing positive for the new coronavirus, his daughter Vivienne said on her personal Instagram account.
“He is in stable condition, responding well and recovering,” she said of her father, who is 86 years old.
Philippine Airlines (PAL) said in a statement its board, management and staff “join the Tan family in prayers and well wishes for the speedy recovery of Dr. Tan.”
Tan came to the Philippines as a young boy after his family moved from Fujian, China, eventually establishing businesses that would form part of the Lucio Tan Group of Companies.
With a net worth of $3.2 billion, Tan owns PAL, Philippine National Bank, Fortune Tobacco, Tanduay Distillers, Asia Brewery Inc. and Eton Properties Philippines. He also owns the University of the East, one of the country’s largest schools.
Amid the COVID-19 pandemic, the Lucio Tan group donated a biomolecular laboratory to the Philippine Red Cross.
Located in Batangas City, the facility can handle 4,000 tests per day.
The group also donated medical equipment, such as mechanical ventilators and X-ray machines as well as personal protective gear, alcohol, water and food packs. INQ