Hospitalized for COVID-19, tycoon Lucio Tan in 'stable condition'
MANILA, Philippines — Billionaire Lucio Tan was taken to the hospital after testing positive for COVID-19, her daughter confirmed after rumors swirled yesterday that the tycoon was ill.
In a post on Instagram before Sunday midnight, Vivienne Tan said her father is in "stable condition, responding well and recovering."
"Thank you for all your concern and prayers," Vivienne wrote. "We would like to request for some privacy at this time. Please continue to pray for his speedy recovery. Thank you."
Tan, 86, founded LT Group whose diversified holdings include alcohol, tobacco, banking and property. He is also chairman of the country's flag carrier Philippine Airlines.
Forbes Magazine estimates his net worth at $3.2 billion or P154 billion as of April 18, making him among the Philippines' five wealthiest individuals. This year he ranked third after property mogul and former senator Manuel Villar and Spanish-Filipino ports businessman Enrique Razon.
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