soMe oF the tycoons Featured in the BooK

OSCAR M. LOPEZ Chairman Emeritus First Philippine Holdings Corp.

The Lopez family bought the Energy Development Corp. from the government for a whopping $1.5 billion in 2007, making FPH the world’s single largest producer of geothermal energy.

It refinanced for $544 million FPH’s Sta. Rita refinery and acquired for $360 million the assets of British Gas in 2012. In August 2017, FPH sold 31.7 percent of EDC for $1.3 billion to Philippines Renewable Energy Holdings Corp. (PREHC).

The Lopez business empire dates back to the 19th century. But today’s Lopez empire is reckoned to have started big in 1961, 15 years after independence, when Meralco Securities Corp. was established by the patriarch Eugenio Lopez Sr. to buy giant Manila Electric Co. for $66.286 million from its American owners.

After 26 years as CEO, Oscar, 86, turned over management of the Lopez empire to second son, Federico “Piki” Lopez, 55, on March 31, 2010.

JOHN L. GOKONGWEI JR. Chairman Emeritus JG Summit Holdings, Inc.

After 76 years of entrepreneurship and 60 years of shepherding his company into becoming one of the largest and most dynamic conglomerates in Asia and Oceania, John L. Gokongwei Jr. has been cited by the Management Association of the Philippines (MAP) as its “Management Man of the Year” for 2017.

John received his Masters Degree in Business Administration from the De La Salle University and attended the Advanced Management Program at Harvard Business School.

In 2001, John announced his retirement and handed the reins to youngest brother James L. Go, now 71, (the chair and CEO of JG Summit), and only son Lance, 50, president and COO. John became chairman emeritus.

MANUEL B. VILLAR Chairman Vista Land & Lifescapes, Inc.

Manuel B. Villar has parlayed his more than 30 years of experience in housing and property development to build a conglomerate with nationwide presence (97 cities and towns, unmatched by any other developer), superior brand recognition, and proven track record, under five distinct business units – Brittany, Crown Asia, Camella, Communities Philippines, Vista Residences, housed under an integrated real estate holding company, Vista Land and Lifescapes.

Villar has entered new businesses like malls, department stores, hardware, 24-hour convenience stores, memorial parks, drug retailing, coffee shops, schools, and even medical centers, to enhance themed residential and leisure projects in so-called “Communicities”.

GEORGE SK TY Group Chairman, GT Capital Holdings, Inc.

George Siao Kian Ty put up a bank because he was trying to borrow a loan and was denied. Today, his Metropolitan Bank and Trust Co. (Metrobank) is the second largest in the Philippines, with total assets of P1.971 trillion as of end-June 30, 2017, deposits of P 1.46 trillion, loans of P1.167 trillion, and equity of P205 billion. It began doing business in Manila’s Chinatown, Binondo, in 1962. It has 702 branches and nearly 13,000 employees. Metrobank has a market cap of P302.43 billion, of which 37 percent is controlled by George SK Ty.

Metrobank is the lynchpin of a fast growing conglomerate. It operates like the investment banks of Europe. Its mother company is GT Capital Holdings, Inc. (GT Capital), owned 59.30 percent by the Ty family. It was established in 2007. GT Capital’s market cap is P231.69 billion. So George Ty’s wealth is about P137.39 billion ($2.7 billion).