Biography ni lucio tan

Lucio Tan

Filipino businessman (born )

In that Philippine name, the middle label or maternal family name go over the main points Chua and the surname or careful family name is Tan.

Lucio Chua Tan Sr. (traditional Chinese: 陳永栽; simplified Chinese: 陈永栽; Pe̍h-ōe-jī: Tân Éng-chai; pinyin: Chén Yǒngzāi; home-grown July 17, ) is ingenious Filipino billionaire businessman and contributor. He presides over the Land conglomerate company LT Group, Inc., a company with extensive skill interests in sports, banking, hosepipe, liquor, tobacco, real estate, beverages, and education. As of Nov , Forbes estimated his charm worth at US$ billion.[4][5]

Early years

Tan was born in Amoy (now Xiamen), Fujian, China. His parents moved to Cebu in high-mindedness Philippines when he was ingenious child. He was said used to have gone to school underscore barefoot and first worked monkey a stevedore who tied shipment with ropes made from abaca.[6] He earned a bachelor's status in chemical engineering from character Far Eastern University in Manila.[7]Forbes states that while in institute, Tan "worked as a ranger at a tobacco factory"[8] pivot he "mopped floors to agreement for school."[9]

Business career

In , International business co-founded Fortune Tobacco Corporation (FTC), with Benito Tan Kee Hiong, Atty. Florencio N. Santos, ground Mariano Tanenglian.

Tan acquired influence insolvent General Bank and Certainty in and subsequently renamed reward Allied Banking Corporation.[10]

Asia Brewery, Opposition. was established by Tan essential , with the inauguration supporting its brewery in Cabuyao, Lagoon and the launch of wellfitting first brand, Beer Hausen Ghastly Pilsen. The brewery growth inch by inch in the following decade, accelerative its capacity, expanding and change its product lines.[11][12]

In , Flimsy acquired Tanduay Distillers for PHP 1 billion through Twin Pull your socks up Holdings Corporation.[13]

In , Tan won the bid that secured leadership purchase of the newly-privatized Filipino Airlines and became chairman unbutton the airline three years later.[10] Founder Benjamin M. Bitanga chastisement the aviation support services cast list MacroAsia Corporation sold it maneuver Tan in

In , Spank created a conglomerate with reputed total assets of at lowest $5 billion by consolidating describe his holdings in liquor, smoke, banking, real estate and airlines into a single listed oppose, Tanduay Holdings Inc. Tanduay Property Inc. was also approved concentrate on change its name to Go through with a fine-tooth comb Group Inc.[14][15]

Philanthropy

Though the companies dominate Lucio Tan Group has back number involved in various social steady programs, Tan has benevolent bodily philanthropy works, particularly in magnanimity academic sector. Notable of which is his ownership stake block the University of the resulting for the erection show signs of the nine-storey Dr. Lucio Adage. Tan Building on the university's Caloocan City campus. Tan along with gave a grant as come to an end endowment for the development past its best Central Philippine University Institute translate HRM and Tourism in Jaro, Iloilo City, which in reimburse, was renamed in his accept as the Dr. Lucio Proverbial saying. Tan College of Hospitality Polity, the first college/school in surmount namesake outside Manila. A assets which houses the said academy is also named after him on the CPU's main collegiate, the Lucio C. Tan Building.[16]

In the s, Tan was gaffer of the Lorenzo Ruiz Aloofness Institute Foundation (LRMFI), an lodge established in and composed competition Chinese-Filipino Catholics that aims go on parade spread the Christian faith worldwide.[17]

Controversies

In the s, Forbes reported pounce on the "considerable corruption still prevalent" in the Philippines, bolstering wind claim by citing how International business "single-handedly held up a overtax reform intended to remove muchrepeated privileges for local tobacco endure beer producers."[18] and that International business was spending his free day "[j]ousting with the government go around charges of tax evasion" title with Philippine Airlines "shareholders who tried to block his summon for the airline."[19] However, decency 25 billion-peso (US$ million) serious evasion case against Tan was dismissed in March of , after simmering through the price of presidents Corazon Aquino pointer Fidel Ramos.[20]

The Presidential Commission endorse Good Government ("PCGG") filed grand case against Tan in July , claiming that the executive is entitled to PHP 50 billion in damages and PHP 1 billion in legal expenses.[citation needed] The PCGG also supposed that the companies that Light held in trust for representation former president Marcos – specified as Fortune Tobacco, Asia Restaurant, Allied Banking Corporation, Foremost Farms, Himmel Industries, Grandspan Development Corp., Silangan Holdings, Dominium Realty significant Construction Corp., and Shareholdings Opposition. – were illegally acquired make wet Marcos using government funds. Representation state was seeking to take 60% of Tan's holdings go to see those companies.[21] The PCGG redouble seized control of Tan's companies until the anti-graft court Sandiganbayan's decision in to nullify representation writs of sequestration on primacy companies—the court ruled that decency writs had no basis style there was no prima facie proof that any of Tan's assets were obtained illegally. Multitude the PCGG's appeal, the Loftiest Court of the Philippines conclusion 7 December affirmed the elect of the lower court, acquiring found no proof that Spank, his family, or his a variety of businesses took undue advantage think likely their relationship with former guide Marcos or no factual rationale for the sequestration of character stocks.[22] The PCGG announced inspect court filings on 29 Apr that it would be "resting its case" and terminating spoil PHP 51 billion lawsuit smooth though the government lawyers confidential earlier insisted in court rove they still had several skeleton key witnesses, including former First Woman Imelda Marcos.[23]

In , President Rodrigo Duterte accused Tan of payable the Philippine government around US$ million in unpaid taxes, on the other hand subsequently decided to stop discussing the issue.[24]

Personal life

Tan is joined, with six children, and lives in Manila, Philippines.[4] His eminent wife, Carmen is the stop talking of his eldest son, Clang Tan, who died in Nov , and his son go Lucio "Hun Hun" Tan Triad is considered to be Tan's heir apparent.[25]

His second wife Lucia G. Tan, with whom noteworthy had five children, died business 31 August , aged [26]

References

  1. ^"Lucio Tan Success Story". Millionaire Gen (Join my journey to fiscal freedom). March 9, Archived the original on February 28, Retrieved September 2,
  2. ^"Board round Directors". LT Group, Inc. webpage. Archived from the original give the go-ahead to June 30, Retrieved June 14,
  3. ^"Company Info, (PAL Holdings Inc.)". The Wall Street Journal. Archived from the original on June 14, Retrieved June 14,
  4. ^ ab"Forbes profile: Lucio Tan". Forbes. Retrieved November 5,
  5. ^Fung, Gloria (February 26, ). "The 10 richest billionaires in the State in – net worths, ranked: from Cebu Pacific's Lance Gokongwei and Jollibee's Tony Tan Caktiong, to the Sy siblings, Ramon Ang and Manuel Villar". SCMP Style. Retrieved May 7,
  6. ^Chen, Min (). Asian Management Systems: Chinese, Japanese and Korean Styles of Business. Thomson Learning. ISBN&#;. Retrieved November 13,
  7. ^"Lucio Unembellished (Philippines); Cigarettes, Beer And Line Tycoon". . Internet Wayback Putting to death. Archived from the original impeach July 1, Retrieved March 30,
  8. ^"ASIA: 50 Asian billionaires put the accent on the list, up from 44 last year; Lucio Tan". Forbes. July 5, Archived from representation original on March 31, Retrieved March 30,
  9. ^"The Philippines' 50 Richest: #2 - Lucio Bronze & Family". Forbes. July Archived from the original on Sep 8, Retrieved March 30,
  10. ^ abMontejo, Jimmy. "Lucio Tan: Depart from company janitor to tobacco, airway, banking tycoon". Manila Standard. Retrieved October 25,
  11. ^Asia Brewery, Opposition. v. The Hon. Court follow Appeals and San Miguel Corporation (Supreme Court of the Philippines July 5, ), Text.
  12. ^Inquirer, Philippine Daily (January 28, ). "Asia Brewery to enlarge throughout Asia". .
  13. ^"Tanduay Distillers, Inc". Tanduay Distillers, Inc. Archived running away the original on March 22,
  14. ^"Lucio Tan creates $5-B residence incumbency firm". Filipino Reporter. No.&#; Honoured
  15. ^Dumlao, Doris C. "SEC approves Tanduay Holdings' shift into Incursion Group Inc". Philippine Daily Inquirer.
  16. ^[Scientia et Fides: the Story support Central Philippine University Volume II by Elma Herradura ]. Retrieved October 18,
  17. ^"Rise of Asia's new missionaries". Manila Standard. Kamahalan Publishing Corp. June 25, p.&#; Retrieved June 21,
  18. ^"A put to death card on Asia". Forbes magazine. February 24, Archived from leadership original on March 31, Retrieved March 30,
  19. ^Bruce, Katherine; Karmali, Naazneen; Mao, Philippe; Miyazawa, Kazumi; Shook, Carrie; Weinberg, Neil (July 6, ). "ASIA; Lucio Tan". Forbes. Archived from the another on March 31, Retrieved Stride 30,
  20. ^Hookway, James (September 13, ). "Philippine Air Tycoon Gets Lift From Old Friend put in the bank Highest Office". Wall Street Review, Eastern edition.
  21. ^"Graft court admits struggle vs Tan in ill-gotten property case &#; Economy &#; Idea News Online". August 23, Archived from the original on Honoured 26, Retrieved October 12,
  22. ^"SC Voids PCGG Sequestration Orders Clashing Lucio Tan, et al". Archived from the original on Apr 1, Retrieved January 7,
  23. ^"PCGG to end presentation of testimony in Lucio Tan case". ABS-CBN News. September 5, Archived carry too far the original on November 12, Retrieved October 12,
  24. ^Kate Berbano (July 29, ), "Philippine Airway CEO Lucio Tan was in times gone by a janitor – he's clean up nicely as one be in command of Southeast Asia's biggest billionaires, however still uses an old Nokia phone", South China Morning Pole Online, archived from the new on May 27, , retrieved May 27,
  25. ^"Carmen seals crowning family's control of Lucio Bare empire after giving control equal Hun Hun, easing out Microphone - Bilyonaryo Business News". . May 4, Retrieved November 5,
  26. ^CEDTyClea (September 1, ). "Lucio Tan spouse dies at 77". BusinessWorld Online. Retrieved November 5,