The 10 most powerful businessmen of the Philippines

Business success or economic wealth alone do not automatically translate to power or even influence. As the whole of Luzon was still recovering from a massive electric power brownout (why do we call it a "brownout" while other countries call it a "blackout"?) on September 29, this writer decided to do an informal text survey of 78 top entrepreneurs, bankers and business executives for our annual survey of the most powerful businessmen in the Philippines. This is not a roster of the wealthiest business people in the Philippines, but those who exert or wield power and influence either on politics or over society in general. The names are also not cited in any special order.

• Mike Velarde. The El Shaddai Catholic Charismatic movement founder was once a bankrupted real estate developer, but he has miraculously recovered not only as a wealthy tycoon, but also as a politically powerful religious leader. Every election year, all political leaders from the incumbent President to opposition stalwarts court his "blessing." Mike Velarde was former spiritual adviser of President Joseph Estrada when he was in power, but has become a friend of President Gloria Macapagal-Arroyo. Recently, Velarde boldly went on record as being publicly opposed to Charter change moves proposed by the House of Representatives and the President.

•Manuel "Manny" B. Villar. The Senate President and leader of the resurrected Nacionalista Party is a savvy real estate developer who once faced near bankruptcy after the 1997 Asian financial crisis, but his fortunes have since bounced back with the thriving realty businesses of his family. He recounted to this writer how a top realty conglomerate attempted to take over his firm at a huge disadvantage to him during the crisis, a challenge he resiliently overcame. A "rags-to-riches" entrepreneur from Tondo, Manila, Villar once served as Speaker of the House of Representatives. Villar is seen as a major force and a man of independent thinking, whether the government system remains the same or shifts to a parliamentary form.

• Eduardo "Danding" Cojuangco Jr. The taipan of San Miguel Corporation is a Chinese mestizo, but his entrepreneurial savvy, strong leadership and aggressiveness mirror the success saga of his immigrant "rags-to-richest" great-grandfather Jose Cojuangco I (Chinese name "Co Guioc Huang"). As big boss of the Nationalist People’s Coalition (NPC), he has built up a nationwide organization which is deemed a real political party unlike those of ragtag political coalitions such as ex-President Joseph Estrada’s Partido ng Masang Pilipino, late President Marcos’ Kilusang Bagong Lipunan (KBL) or even President Arroyo’s Kampi.

• Miguel "Mike" Tuason Arroyo. Once considered from the "poorer" side of the vast land-owning Chinese mestizo Tuason clan, this Ateneo-educated lawyer and businessman is attributed to be as astute political partner of his wife President Arroyo. A month after EDSA 2, he asked this writer to help him research the Fujian, south China roots of his maternal ancestor Son Tua, who was perhaps the wealthiest Chinese tycoon of the Philippines over two centuries ago. Son Tua owned lands from Binondo, Intramuros all the way to Marikina. Since only Chinese males were immigrants to the Philippines in the Spanish colonial era, many of Son Tua’s heirs married Spanish people and adopted Spanish culture. The Spanish-speaking Tuason family sold land to the Philippine government – land that is now Quezon City. Despite being a magnet for numerous controversies, he remains politically influential and is perceived to still be a key adviser to GMA.

• Endika Aboitiz. Aggressive and pragmatic big boss of the Aboitiz-owned shipping business, which is today the biggest in the Philippines. His Cebu-based clan traces its roots to the Basque region of northern Spain and the Aboitizes have remained true to their Hispanic cultural heritage. His wife is a Spanish painter from Barcelona, Spain, and their only son speaks fluent Spanish, English, Cebuano, Tagalog and Mandarin (learned from university studies in Beijing and Shanghai). He is a loyal supporter of President GMA.

• Enrique Razon. The big boss of ICTSI is known to be politically influential to all incumbent presidents, whether Joseph Estrada when he was still in power or President Arroyo. He owns an English-language newspaper that is consistently pro-government. He is reputed to be one of Asia’s top port operators and a young billionaire. Razon once told this writer that his ancestors come from Spain.

• Arthur Yap. One of the fast-rising political stars in government known for his efficiency and loyalty, this Ateneo-educated lawyer is now director general of the Presidential Management Staff (PMS) and chairman of the Task Force on Infrastructure Monitoring. He used to be president of the Philippine paint manufacturers’ association and his family is still in the paint business. His father Domingo Yap is now External Affairs Committee chairman of the Federation of Filipino-Chinese Chambers of Commerce & Industry, Inc. (FFCCCII) and uncle Eddie Yap is a top realty developer and a Forbes Park village leader. He is fluent in English, Tagalog, Hokkien, Mandarin and can understand his father’s Chabacano.

• Francis Chua. Son of the late respected "rags-to-riches" lumber tycoon Chua Giok Hong, he is one of the most staunchly loyal supporters of President GMA and of Speaker Jose de Venecia Jr. in the business community. He is the dynamic president of the FFCCCII and Peru’s honorary consul to the Philippines.

• Atty. Felipe "Henry" Gozon. This Yale graduate is big boss of the country’s leading GMA-7 television and radio group, thus wielding tremendous influence over Philippine politics, pop culture and public opinion. His family has also revived GMA Films. Atty. Gozon plans to soon publicly list GMA-7, thus ensuring further aggressive expansion of its businesses and clout. His elder sister is married to realty entrepreneur, GMA-7 major stockholder, top abaca exporter and San Miguel director Menardo "Nards" Jimenez.

• Eugenio "Gabby" Lopez III. This Harvard-educated scion of the once politically-influential Lopez clan is still a major force in business and society with his second-ranked ABS-CBN television and radio business. His family also controls ABS-CBN Publishing, which is trying to challenge the industry leadership in magazines of Summit Media headed by Columbia-educated Lisa Gokongwei-Cheng.

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