Lucio Chua Tan Sr. (; born July 17, 1934) is a Filipino billionaire businessman and philanthropist. He presides over the Filipino conglomerate company LT Group, Inc., a company with extensive business interests in sports, banking, airline, liquor, tobacco, real estate, beverages, and education. As of November 2024, ''

Forbes ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...

'' estimated his net worth at US$2.8 billion.

Early years

Tan was born in Amoy (now Xiamen), Fujian, China. His parents moved to Cebu in the Philippines when he was a child. He was said to have gone to school on barefoot and first worked as a stevedore who tied cargo with ropes made from abaca. He earned a bachelor's degree in chemical engineering from the

Far Eastern University Far Eastern University (), also referred to by its acronym FEU, is a Private university, private research non-sectarian university in Manila, Philippines. Created by the merger of Far Eastern College and the Institute of Accounts, Business and ...

Manila Manila, officially the City of Manila, is the Capital of the Philippines, capital and second-most populous city of the Philippines after Quezon City, with a population of 1,846,513 people in 2020. Located on the eastern shore of Manila Bay on ...

. ''

'' states that while in college, Tan "worked as a janitor at a tobacco factory" where he "mopped floors to pay for school."

Business career

In 1966, Tan co-founded Fortune Tobacco Corporation (FTC), with Benito Tan Kee Hiong, Atty. Florencio N. Santos, and Mariano Tanenglian. Tan acquired the insolvent General Bank and Trust in 1977 and subsequently renamed it Allied Banking Corporation. Asia Brewery, Inc. was established by Tan in 1982, with the inauguration of its brewery in Cabuyao, Laguna and the launch of its first brand, Beer Hausen Pale Pilsen. The brewery growth steadily in the following decade, increasing its capacity, expanding and diversifying its product lines. In 1988, Tan acquired Tanduay Distillers for PHP 1 billion through Twin Ace Holdings Corporation. In 1992, Tan won the bid that secured the purchase of the newly-privatized

Philippine Airlines Philippine Airlines (PAL) is the flag carrier of the Philippines. Headquartered at the Philippine National Bank, PNB Financial Center in Pasay, the airline was founded in 1941 and is the oldest operating commercial airline in Asia. Philippine ...

and became chairman of the airline three years later. Founder Benjamin M. Bitanga of the aviation support services company MacroAsia Corporation sold it to Tan in 1995. In 2012, Tan created a conglomerate with estimated total assets of at least $5 billion by consolidating all his holdings in liquor, cigarette, banking, real estate and airlines into a single listed entity, Tanduay Holdings Inc. Tanduay Holdings Inc. was also approved to change its name to LT Group Inc.

Philanthropy

Though the companies of Lucio Tan Group has been involved in various social responsible programs, Tan has benevolent personal philanthropy works, particularly in the academic sector. Notable of which is his ownership stake with the University of the East, resulting for the erection of the nine-storey Dr. Lucio C. Tan Building on the university's Caloocan City campus. Tan also gave a grant as an endowment for the development of Central Philippine University Institute of HRM and Tourism in Jaro, Iloilo City, which in return, was renamed in his honor as the Dr. Lucio C. Tan College of Hospitality Management, the first college/school in his namesake outside Manila. A building which houses the said college is also named after him on the CPU's main campus, the Lucio C. Tan Building. cientia et Fides: the Story of Central Philippine University Volume II by Elma Herradura 2013 Retrieved October 18, 2020. In the 1990s, Tan 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 the Christian faith worldwide.

Controversies

In the 1990s, ''

'' reported about the "considerable corruption still prevalent" in the Philippines, bolstering that claim by citing how Tan "single-handedly held up a tax reform intended to remove special privileges for local tobacco and beer producers." and that Tan was spending his free time " usting with the government over charges of tax evasion" and with

"shareholders who tried to block his bid for the airline." However, the 25 billion-peso (US$ 622 million) tax evasion case against Tan was dismissed in March of 1999, after simmering through the terms of presidents

Corazon Aquino María Corazón "Cory" Sumulong Cojuangco-Aquino (; January 25, 1933 – August 1, 2009) was a Filipino politician who served as the 11th president of the Philippines and the first woman president in the country, from Presidency of Corazon ...

and

Fidel Ramos Fidel Valdez Ramos (; March 18, 1928 – July 31, 2022), popularly known as FVR, was a Filipino general and politician who served as the 12th president of the Philippines from 1992 to 1998. He was the only career military officer to reached ...

. The Presidential Commission on Good Government ("PCGG") filed a case against Tan in July 1987, claiming that the state is entitled to PHP 50 billion in damages and PHP 1 billion in legal expenses. The PCGG also alleged that the companies that Tan held in trust for the former president Marcos – such as Fortune Tobacco, Asia Brewery, Allied Banking Corporation, Foremost Farms, Himmel Industries, Grandspan Development Corp., Silangan Holdings, Dominium Realty and Construction Corp., and Shareholdings Inc. – were illegally acquired by Marcos using government funds. The state was seeking to recover 60% of Tan's holdings in those companies. The PCGG then seized control of Tan's companies until the anti-graft court Sandiganbayan's decision in 2006 to nullify the writs of sequestration on the companies—the court ruled that the writs had no basis as there was no prima facie proof that any of Tan's assets were obtained illegally. Following the PCGG's appeal, the

Supreme Court of the Philippines The Supreme Court (; colloquially referred to as the ' (also used in formal writing), is the highest court in the Philippines. It was established by the Taft Commission on June 11, 1901, through the enactment of Act No. 136, which abolished th ...

on 7 December 2007 affirmed the decision of the lower court, having found no proof that Tan, his family, or his various businesses took undue advantage of their relationship with former president Marcos or no factual basis for the sequestration of the stocks. The PCGG announced through court filings on 29 April 2009 that it would be "resting its case" and terminating its PHP 51 billion lawsuit even though the government lawyers had earlier insisted in court that they still had several key witnesses, including former First Lady Imelda Marcos. In 2017, President Rodrigo Duterte accused Tan of owing the Philippine government around US$600 million in unpaid taxes, but subsequently decided to stop discussing the issue.

Personal life

Tan is married, with six children, and lives in Manila, Philippines. His first wife, Carmen is the mother of his eldest son, Lucio "Bong" Jr., who died in November 2019. Bong's son in Lucio "Hun Hun" Tan III is considered to be Tan's heir apparent. His second wife Lucia G. Tan, with whom he had five children, died on 31 August 2020, aged 77.

References

{{DEFAULTSORT:Tan, Lucio 1934 births Living people Businesspeople from Xiamen Businesspeople from Cebu Filipino people of Chinese descent Businesspeople in brewing Businesspeople in the tobacco industry Central Philippine University people Central Philippine University alumni Chinese emigrants to the Philippines Drink distillers Far Eastern University alumni Filipino bankers Filipino billionaires Filipino businesspeople in real estate Filipino investors Filipino Roman Catholics Janitors Naturalized citizens of the Philippines Philippine Airlines Philippine Basketball Association executives