Lucio Tan: Wealthiest man in the Philippines

compiled by Alfred deAureaus

The Philippines richest man, Lucio Tan, is a qualified helicopter pilot (he needs to be between 2 places at the shortest possible time). His companies deal with liquor, tobacco, aviation, banking and real estate. The total value of his business empire is estimated to be not less than US$20 billion, in which he controls 40 to 60% of that.

Lucio Tan had a humble beginning. Born in 1934 in one of southern China’s poorest provinces, Fujian, he was barely four years old when his family joined the Chinese Diaspora to the Philippines to escape the invading Japanese forces. As a teenager, he lived in Baranggay Sabang in Naga City, Camarines Sur. He started out mopping floors to put himself through school. He graduated in Far Eastern University with a degree in Chemical Engineering.

It is reported that Lucio Tan does not have a last will and testament to avoid inter-family squabbles. He would rather have his large family sort it out after he passed away. His family includes four wives (others say five), four mistresses (some say more), their sons and daughters, plus a clan of siblings and extended relatives.

It is believed that in the early to mid 1960’s, Lucio Tan took technical advice for his Fortune Tobacco (which begun his empire) from Michael Carrion, a Spanish-Filipino whose family are part directors/managers of the defunct Virginia Tobacco (Philippines) which is owned and controlled by the failed American businessman/multi- millionaire Harry S. Stonehill. Lucio Tan then found favour from the new incoming President, Ferdinand Marcos, so the story goes on.

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