From an article entitled: Who Owns the Philippines?
GOLD STAR 5 April 2012;
IT used to be that Philippine business was dominated by the Sorianos, founder of San Miguel Corp., the Elizaldes, founder of Tanduay Distilleries, the Lopezes, founder of Meralco, the Madrigals, founder of Madrigal Shipping Lines and Hans Menzi, founder of Bulletin Today and the Ayalas, founder of Bank of the Philippine Islands.
Not anymore. These businesses are now peanuts compared to the mega millions of business empires of new taipans. Manny Pangilinan, head of Metro Pacific, a business that originated in Hongkong, has gobbled up chunks of shares of Meralco, owns Maynilad, TM/Sun Cellular/Talk N' Text/Smart combined, PLDT, South Luzon Expressway, Negros Navigation, Makati Medical Center and Philex Mining.
On the other hand, the group of John Gokongwei now owns Robinsons, Cebu Pacific Airlines Robinson's Land, Manila Peninsula Hotel and Universal Robina Corporation. Lucio Tan either owns or is a majority shareholder of PNB, Allied Bank, Fortune Tobacco, Philippine Airlines, University of the East, Asia Brewery and Tanduay Rhum.
George Ty has both Metrobank and Philippine Savings Bank and insurance firms. Andrew Tan possesses Megaworld, the builder of high class condominiums in Metro Manila. Tan Kiat Chong is founder and owner of Jollibee, bought both Manila Pancake House and Mang Inasal. The Aboitiz group controls Aboitiz Power and Union Bank. Andrew Gotianun founded East-West Bank and first class subdivisions in the whole Philippines. Manny Villar is owner of Camella Homes and Crown Asia. But the taipan of all taipans is Henry Sy, owner of SM Megamalls, SM Properties and BDO.
