Lucio Tan

Millionaire Acts

(The Rise of Lucio Tan)

By Althea May Miranda

Talking about the longest running richest man in the Philippines, Lucio Tan is the one. He owns a lot of business. Like the Asia Brewery, which is the second largest brewer in the Philippines. Of course the Tanduay Holdings, which is one of the world’s largest rum makers. Many of his business will be discuss in this article. Let’s look another rags to riches entrepreneur story as we witness the success of dr. Lucio Tan.

Lucio Tan was born on July 17, 1934 in China’s Fujian province. His family moved to Philippines, in Naga, where he was a child. He worked his way through college studying Chemistry in Far Eastern University but quit before graduating, set up a business that deals with scrap in the late 1950s and and later on found a job in a tobacco factory where he was tasked to buy leaf tobacco in the Ilocos provinces. Though a non-smoker, he started a cigarette company called Fortune Tobacco in 1966. This venture, which was housed in a small hut in Marikina, proved to be the enterprise that would catapult Mr. Tan to success. From this flagship company emerged numerous successful ventures in agribusiness; airlines and related services; banking, finance and securities; brewery; chemicals; distillery and alcohol; education; food; hotel; manufacturing; property development; steel fabrication and construction; and tourism and travel services.

Tan has received numerous recognitions and awards both in the Philippines and abroad. He holds a Doctorate Degree in Commerce from the University of Santo Tomas along with a string of honorary doctorate degrees from various institutions of higher learning. Tan established the Tan Yan Kee Foundation in 1986 in honor of his father. The Lucio C. Tan Group of Companies has also supported projects in education, culture and sports; health and social welfare; research; and manpower development.

He was a known ally of former President Ferdinand Marcos....