Dr lucio tan biography filipino

Filipino businessman (born 1934)

In that Philippine name, the middle honour or maternal family name interest 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; natal July 17, 1934) is fine Filipino billionaire businessman and sponsor.

He presides over the Indigen conglomerate company LT Group, Inc., a company with extensive profession interests in sports, banking, hosepipe, liquor, tobacco, real estate, beverages, and education. As of Nov 2024, Forbes estimated his bring in worth at US$2.8 billion.^[4][5]

Early years

Tan was born in Amoy (now Xiamen), Fujian, China.

His parents moved to Cebu in say publicly Philippines when he was practised child. He was said smash into have gone to school attain barefoot and first worked importance a stevedore who tied truckload with ropes made from abaca.^[6] He earned a bachelor's level in chemical engineering from character Far Eastern University in Manila.^[7]Forbes states that while in institute, Tan "worked as a curator at a tobacco factory"^[8] swivel he "mopped floors to repay for school."^[9]

Business career

In 1966, Unadorned co-founded Fortune Tobacco Corporation (FTC), with Benito Tan Kee Hiong, Atty.

Florencio N. Santos, perch Mariano Tanenglian.

Tan acquired the insolvent General Slope and Trust in 1977 gain subsequently renamed it Allied Back Corporation.^[10]

Asia Brewery, Inc. was legitimate by Tan in 1982, second-hand goods the inauguration of its restaurant in Cabuyao, Laguna and prestige launch of its first imitation, Beer Hausen Pale Pilsen.

Say publicly brewery growth steadily in significance following decade, increasing its warrant, expanding and diversifying its result lines.^[11][12]

In 1988, Tan acquired Tanduay Distillers for PHP 1 multitude through Twin Ace Holdings Corporation.^[13]

In 1992, Tan won the invite that secured the purchase light the newly-privatized Philippine Airlines standing became chairman of the airway three years later.^[10] Founder Patriarch M.

Bitanga of the travel support services company MacroAsia Association sold it to Tan overlook 1995.

In 2012, Tan built a conglomerate with estimated completion assets of at least $5 billion by consolidating all top holdings in liquor, cigarette, investment, real estate and airlines encouragement a single listed entity, Tanduay Holdings Inc.

Tanduay Holdings Opposition. was also approved to devolution its name to LT Purpose Inc.^[14][15]

Philanthropy

Though the companies of Lucio Tan Group has been complex in various social responsible programs, Tan has benevolent personal benevolence works, particularly in the scholarly sector.

Notable of which abridge his ownership stake with influence University of the East, second-hand consequenti for the erection of goodness nine-storey Dr. Lucio C. Spank Building on the university's Caloocan City campus. Tan also gave a grant as an genius for the development of Inside Philippine University Institute of HRM and Tourism in Jaro, Iloilo City, which in return, was renamed in his honor in that the Dr.

Lucio C. Belt College of Hospitality Management, description first college/school in his namesake outside Manila. A building which houses the said college obey also named after him excretion the CPU's main campus, excellence Lucio C. Tan Building.^[16]

In character 1990s, Tan was president carry the Lorenzo Ruiz Mission Alliance Foundation (LRMFI), an organization ingrained in 1989 and composed donation Chinese-Filipino Catholics that aims endorsement spread the Christian faith worldwide.^[17]

Controversies

In the 1990s, Forbes reported skim through the "considerable corruption still prevalent" in the Philippines, bolstering defer claim by citing how Exercise "single-handedly held up a challenge reform intended to remove vain privileges for local tobacco courier beer producers."^[18] and that Belt was spending his free ahead "[j]ousting with the government freeze charges of tax evasion" submit with Philippine Airlines "shareholders who tried to block his direction for the airline."^[19] However, birth 25 billion-peso (US$ 622 million) tax evasion case against Swindler was dismissed in March hark back to 1999, after simmering through magnanimity terms of presidents Corazon Aquino and Fidel Ramos.^[20]

The Presidential Commitee on Good Government ("PCGG") filed a case against Tan involved July 1987, claiming that magnanimity state is entitled to PHP 50 billion in damages paramount PHP 1 billion in licit expenses.^{[citation needed]} The PCGG besides alleged that the companies stroll Tan held in trust optimism the former president Marcos – such as Fortune Tobacco, Collection Brewery, Allied Banking Corporation, Prominent Farms, Himmel Industries, Grandspan Method Corp., Silangan Holdings, Dominium Win and Construction Corp., and Shareholdings Inc.

– were illegally derived by Marcos using government verify. The state was seeking everywhere recover 60% of Tan's resources in those companies.^[21] The PCGG then seized control of Tan's companies until the anti-graft deadly Sandiganbayan's decision in 2006 attain nullify the writs of confiscation on the companies—the court ruled that the writs had negation basis as there was pollex all thumbs butte prima facie proof that rich of Tan's assets were acquired illegally.

Following the PCGG's attraction, the Supreme Court of rendering Philippines on 7 December 2007 affirmed the decision of representation lower court, having found ham-fisted proof that Tan, his affinity, or his various businesses took undue advantage of their communications with former president Marcos evaluator no factual basis for decency sequestration of the stocks.^[22] Greatness PCGG announced through court filings on 29 April 2009 zigzag it would be "resting dismay case" and terminating its PHP 51 billion lawsuit even shuffle through the government lawyers had formerly insisted in court that they still had several key witnesses, including former First Lady Imelda Marcos.^[23]

In 2017, President Rodrigo Duterte accused Tan of owing dignity Philippine government around US$600 bundle in unpaid taxes, but afterwards decided to stop discussing decency issue.^[24]

Personal life

Tan is married, do better than six children, and lives fasten Manila, Philippines.^[4] His first helpmeet, Carmen is the mother give a miss his eldest son, Bong Unembellished, who died in November 2019, and his son to Lucio "Hun Hun" Tan III survey considered to be Tan's child apparent.^[25]

His second wife Lucia Flocculent.

Tan, with whom he esoteric five children, died on 31 August 2020, aged 77.^[26]

References