Lucio Tan

About Lucio Tan

Birth Day: July 17, 1934
Birth Place: Manila, Philippines, Philippines
Birth Sign: Leo
Residence: Manila, Philippines
Alma mater: Chiang Kai Shek College Far Eastern University
Occupation: Businessman
Known for: Chairman and CEO of LT Group (Lucio Tan Group) Chairman of Philippine Airlines
Children: 6

Lucio Tan


Diversified

Lucio Tan is a member of Diversified born on July 17, 1934 in Manila, Philippines, Philippines. At age 84 Lucio Tan net worth is approximately $4.44 Billion. Lucio Tan is the founder and chairman of the $1.1 billion sales LT Group, which has interests in tobacco, spirits, banking and property development.

Some Lucio Tan images

💰 Net worth: $4.44 Billion

2009 $1.4 Billion
2010 $1.7 Billion
2011 $2.3 Billion
2012 $3.5 Billion
2013 $5 Billion
2014 $6.1 Billion
2015 $4.4 Billion
2016 $4 Billion
2017 $3.7 Billion
2018 $4.44 Billion

Famous Quotes:

Even the accomplished suffers setbacks sometimes. The more bitter the lessons, the greater the successes will be.

Biography/Timeline

1934

Lucio C. Tan, Sr. (simplified Chinese: 陈永栽; traditional Chinese: 陳永栽; pinyin: Chén Yǒngzāi born July 17, 1934) is a Chinese Filipino Billionaire businessman and educator with interests in banking, airline, liquor, tobacco, real estate industries and education. In 2013, Forbes magazine listed him as the second richest Billionaire from the Philippines with a net worth of $7.5 billion.

1987

After filing the case in July 1987, the PCGG seized control of Tan’s companies, continuing to do so until 2006 when the anti-graft court Sandiganbayan nullified the writs of sequestration on Allied Banking Corp., Fortune Tobacco, Foremost Farms and Shareholdings Inc. The court ruled the writs had no basis as there was no prima facie proof that any of Tan’s assets were obtained illegally.

1991

The Presidential Commission on Good Government ("PCGG") originally filed a case against Tan in July 1987, and has since amended it twice, the last time being on 5 September 1991. According to the PCGG, the state is entitled to PHP 50 billion in damages and PHP 1 billion in legal expenses.[4] In addition, the state was seeking to recover 60% of Tan's holdings in companies that Tan held in trust for the former President Marcos – such as Fortune Tobacco, Asia Brewery, Allied Banking Corp., Foremost Farms, Himmel Industries, Grandspan Development Corp., Silangan Holdings, Dominium Realty and Construction Corp., and Shareholdings Inc. – as the PCGG alleges that they were illegally acquired by Marcos using government funds.

1997

In 1997, Forbes, in an article entitled "A report card on Asia" complained 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."

1998

In 1998, Forbes' reported that Tan was spending his free time "[j]ousting with the government over charges of tax evasion" and with Philippine Airlines "shareholders who tried to block his bid for the airline."

2007

The PCGG soon afterwards filed a petition to the Supreme Court. On December 7, 2007, the Supreme Court affirmed the decision of the anti-graft court. The Supreme Court found no proof that Tan, his family, or his various businesses took undue advantage of their relationship with former President Marcos. Finding no factual basis for the sequestration of the stocks, the Supreme Court denied the PCGG’s petition, according to a court statement.

2009

In an April 29, 2009, letter filed at the anti-graft court, the PCGG announced that it is "resting its case" and terminating its presentation of evidence in the PHP 51 billion lawsuit. This, the report said, came as a surprise as government lawyers had earlier insisted in court that they still have several key witnesses, including former First Lady Imelda Marcos.

2013

The same article also said that one of the three judges who ruled in favour of Fortune Tobacco was Manuel Gruba, the brother of Lily Gruba, one of Tan's lawyers in the case. It was later rumoured, the article said, that President Estrada allowed Tan to name the new BIR Commissioner to replace Chato. Beethoven Rualo, a close associate of Tan, was eventually chosen for the role. Within five months of Rualo's appointment, two tax evasion charges against Tan's firms that Chato had been pursuing – one against Allied Bank for PHP 338 million, and another against Fortune Tobacco for PHP 8 billion – were reduced to zero and PHP 5 million respectively.