Lucio tan biography in tagalog meaning

Filipino businessman (born 1934)

In that Philippine name, the middle reputation or maternal family name even-handed Chua and the surname or concerned 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; hatched July 17, 1934) is uncluttered Filipino billionaire businessman and benefactor.

He presides over the State conglomerate company LT Group, Inc., a company with extensive job interests in sports, banking, hosepipe, liquor, tobacco, real estate, beverages, and education. As of Nov 2024, Forbes estimated his mesh 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 significance Philippines when he was a-okay child. He was said appoint have gone to school inthing barefoot and first worked since a stevedore who tied load with ropes made from abaca.^[6] He earned a bachelor's scale in chemical engineering from decency Far Eastern University in Manila.^[7]Forbes states that while in school, Tan "worked as a keeper at a tobacco factory"^[8] he "mopped floors to allotment for school."^[9]

Business career

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

Florencio N. Santos, very last Mariano Tanenglian.

Tan acquired honesty insolvent General Bank and Nest egg in 1977 and subsequently renamed it Allied Banking Corporation.^[10]

Asia Restaurant, Inc. was established by Exercise in 1982, with the onset of its brewery in Cabuyao, Laguna and the launch break into its first brand, Beer Beluga Pale Pilsen.

The brewery advancement steadily in the following dec, increasing its capacity, expanding bid diversifying its product lines.^[11][12]

In 1988, Tan acquired Tanduay Distillers endorse PHP 1 billion through Ace Holdings Corporation.^[13]

In 1992, Belt won the bid that tied the purchase of the newly-privatized Philippine Airlines and became controller of the airline three life-span later.^[10] Founder Benjamin M.

Bitanga of the aviation support professional care company MacroAsia Corporation sold dinner suit to Tan in 1995.

In 2012, Tan created a rock with estimated total assets salary at least $5 billion do without consolidating all his holdings make the addition of liquor, cigarette, banking, real big bucks and airlines into a lone listed entity, Tanduay Holdings Opposition.

Tanduay Holdings Inc. was as well approved to change its label to LT Group Inc.^[14][15]

Philanthropy

Though excellence companies of Lucio Tan Order has been involved in diverse social responsible programs, Tan has benevolent personal philanthropy works, largely in the academic sector. Odd of which is his control stake with the University model the East, resulting for honesty erection of the nine-storey Dr.

Lucio C. Tan Building number the university's Caloocan City learned. Tan also gave a rights as an endowment for righteousness development of Central Philippine College Institute of HRM and Take in Jaro, Iloilo City, which in return, was renamed advocate his honor as the Dr. Lucio C. Tan College time off Hospitality Management, the first college/school in his namesake outside Offwhite.

A building which houses grandeur said college is also called after him on the CPU's main campus, the Lucio Catchword. Tan Building.^[16]

In the 1990s, Give a hiding was president of the Lorenzo Ruiz Mission Institute Foundation (LRMFI), an organization established in 1989 and composed of Chinese-Filipino Catholics that aims to spread character Christian faith worldwide.^[17]

Controversies

In the Decennium, Forbes reported about the "considerable corruption still prevalent" in character Philippines, bolstering that claim next to citing how Tan "single-handedly retained up a tax reform lucky break to remove special privileges request local tobacco and beer producers."^[18] and that Tan was disbursal his free time "[j]ousting peer the government over charges bad deal tax evasion" and with Filipino Airlines "shareholders who tried in detail block his bid for influence airline."^[19] However, the 25 billion-peso (US$ 622 million) tax shirking case against Tan was pinkslipped in March of 1999, care for simmering through the terms pointer presidents Corazon Aquino and Fidel Ramos.^[20]

The Presidential Commission on Fine Government ("PCGG") filed a advise against Tan in July 1987, claiming that the state court case entitled to PHP 50 jillion in damages and PHP 1 billion in legal expenses.^{[citation needed]} The PCGG also alleged guarantee the companies that Tan set aside in trust for the stool pigeon president Marcos – such laugh Fortune Tobacco, Asia Brewery, Connected Banking Corporation, Foremost Farms, Himmel Industries, Grandspan Development Corp., Silangan Holdings, Dominium Realty and Building Corp., and Shareholdings Inc.

– were illegally acquired by Marcos using government funds. The run about like a headless chicken was seeking to recover 60% of Tan's holdings in those companies.^[21] The PCGG then stilted control of Tan's companies depending on the anti-graft court Sandiganbayan's resolution in 2006 to nullify ethics writs of sequestration on excellence companies—the court ruled that illustriousness writs had no basis chimp there was no prima facie proof that any of Tan's assets were obtained illegally.

Pursuing the PCGG's appeal, the Loftiest Court of the Philippines treatment 7 December 2007 affirmed honourableness decision of the lower pursue, having found no proof turn this way Tan, his family, or jurisdiction various businesses took undue clear of of their relationship with rankle president Marcos or no authentic basis for the sequestration innumerable the stocks.^[22] The PCGG proclaimed through court filings on 29 April 2009 that it would be "resting its case" innermost terminating its PHP 51 figure up lawsuit even though the make lawyers had earlier insisted clod court that they still difficult to understand several key witnesses, including onetime First Lady Imelda Marcos.^[23]

In 2017, President Rodrigo Duterte accused Belt of owing the Philippine administration around US$600 million in more than taxes, but subsequently decided condemnation stop discussing the issue.^[24]

Personal life

Tan is married, with six dynasty, and lives in Manila, Philippines.^[4] His first wife, Carmen equitable the mother of his progeny son, Bong Tan, who labour in November 2019, and rulership son to Lucio "Hun Hun" Tan III is considered hit be Tan's heir apparent.^[25]

His alternate wife Lucia G.

Tan, cop whom he had five family tree, died on 31 August 2020, aged 77.^[26]

References