The Philippines is a land of opportunity for entrepreneurs who have the creativity, resilience and passion to pursue their dreams. In this article, we’ll share the stories of 10 entrepreneurs from Philippines who have made it big in different industries, from retail to technology. These trailblazers have not only achieved success and wealth, but they have also inspired and empowered the next generation of Filipino entrepreneurs to make their mark on the world. So sit back, relax and let’s discover the amazing world of Filipino entrepreneurship.

Henry Sy: The Retail King

Henry Sy was the founder of SM Investments, one of the largest conglomerates in the Philippines. He was born in Fujian, China, in 1934 and moved to the Philippines with his family when he was 12 years old. His father opened a small store that sold household items, but it was destroyed during World War II. Sy stayed in the Philippines while his family returned to China and helped his father sell rice, sardines and other items. He also studied commerce at Far Eastern University and learned English and Filipino. In 1958, he opened his first shoe store in Manila, which he later expanded into a department store and then a mall. He also ventured into banking, real estate, tourism and other industries. He was named by Forbes as the richest person in the Philippines for 11 consecutive years until his death in 2019. He was known for his vision, hard work and generosity.

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Henry Sy had a lot of wisdom to share from his remarkable journey. Here are some of his quotes that can inspire us:

“You have to have a dream, whether big or small. Then plan, focus, work hard and be very determined to achieve your goals.”

“There is no such thing as overnight success or easy money. If you fail, do not be discouraged; try again. When you do well, do not change your ways. Success is not just good luck: it is a combination of hard work, good credit standing, opportunity, readiness and timing. Success will not last if you do not take care of it.”

“I have always believed that if we do well, we must also do something to help others in society.”

Edgar Sia II: The Chicken Master

Edgar Sia II was the founder and chairman of Injap Investments, a holding company with interests in real estate, hospitality, food and retail. He was born in 1977 in Iloilo City, Philippines to a family of Chinese descent. He studied architecture at the University of San Agustin but dropped out after two years to pursue his business ventures. He started his career as a barbecue vendor and later established Mang Inasal, a fast food chain that specializes in grilled chicken. He grew his business from one outlet to over 500 nationwide, and sold a majority stake to Jollibee Foods Corporation in 2010. He then founded DoubleDragon Properties, a real estate company that develops commercial and residential projects, such as CityMalls, Hotel 101, and CentralHub. He also invested in other businesses, such as MerryMart, a grocery chain, and Injap Tower, the tallest building in Western Visayas.

Edgar Sia II had a lot of insights to share from his amazing journey. Here are some of his quotes that can motivate us:

John Gokongwei Jr

The third entrepreneur on our list is John Gokongwei Jr., the founder and former chairman of JG Summit Holdings, one of the country’s largest conglomerates. John Gokongwei Jr. was born in 1926 in Xiamen, China to a wealthy family with ancestral ties to Cebu. His father owned several movie theaters and a trading company in Cebu, but lost everything during the Great Depression and World War II. Gokongwei Jr. was only 13 years old when his father died and he had to support his mother and five siblings. He started selling peanuts, soap and candles on his bicycle and later traded goods from Cebu to Manila using a wooden boat. He saved enough money to start his own company, Amasia Trading, which imported flour, onions, fruits and used clothing from the United States. In 1954, he founded Universal Corn Products, a corn milling plant that produced glucose and corn starch. He later diversified into other products such as snacks, beverages, animal feeds and textiles under Universal Robina Corporation. He also ventured into other industries such as banking, real estate, aviation, telecommunications, petrochemicals and power generation under JG Summit Holdings. He was one of the richest people in the Philippines with a net worth of $5.3 billion as of November 2019.

Lucio Tan (FTC)

The fourth entrepreneur on our list is Lucio Tan, the founder of Fortune Tobacco Corporation, one of the largest cigarette manufacturers in the Philippines. Lucio Tan was born in 1934 in Xiamen, China and moved to the Philippines with his parents when he was a child. He studied chemical engineering at Far Eastern University in Manila and worked as a janitor and a tobacco cook in a cigarette factory. He later became a salesman for a tobacco company and learned the ins and outs of the industry. In 1966, he founded Fortune Tobacco Corporation with a capital of P100,000. He faced stiff competition from foreign brands, but he managed to capture a large share of the market by offering quality products at affordable prices. He also diversified his business interests into other sectors such as banking, real estate, aviation, liquor, beverages and education. He established Allied Banking Corporation, Eton Properties Philippines, Philippine National Bank, Asia Brewery, Tanduay Distillers, Philippine Airlines and MacroAsia Corporation. He is one of the richest people in the Philippines with a net worth of $1.9 billion as of September 2021.

Lucio Tan had a lot of wisdom to share from his remarkable journey. Here are some of his quotes that can encourage us:

“I believe that success is not something that you inherit or something that you are born with. Success is something that you achieve through hard work, perseverance and determination.”
“I believe that education is the key to progress and development. That is why I have always supported educational institutions and programs that aim to uplift the quality of education in our country.”
“I believe that business is not only about making profits but also about making a positive impact on society. That is why I have always been involved in various social responsibility initiatives that aim to help the less fortunate and protect the environment.”

Manuel Pangilinan (First Pacific Company)

The managing director and CEO of First Pacific Company Ltd, a Hong Kong-based holding and investment company with activities throughout the Asia-Pacific region, Manuel Pangilinan is the fifth entrepreneur on our list. Manuel Pangilinan was born in Manila, Philippines, in 1946 to a courier who subsequently rose to become a bank president. He received a cum laude degree in economics from Ateneo de Manila University. He won a scholarship to Wharton School of the University of Pennsylvania and earned his MBA degree in 1968. He started his career as an executive assistant to the president of Philippine Investment Management Consultants, Inc. (PHINMA). He then moved to Hong Kong and worked as an executive director at Bancom International and an investment banker at American Express. In 1981, he co-founded First Pacific with Sudono Salim and Anthoni Salim. In 1987, he established Metro Pacific as First Pacific’s investment arm in the Philippines. He acquired PLDT, the largest telecommunications company in the Philippines, in 1998 and transformed it into a leading provider of digital communications. He also invested in other sectors such as power distribution (Meralco), water services (Maynilad), tollways (Metro Pacific Tollways Corporation), hospitals (Metro Pacific Hospitals), mining (Philex Mining Corporation), media (TV5) and sports (Samahang Basketbol ng Pilipinas). He is one of the richest people in the Philippines with a net worth of $2.4 billion as of September 2021.

Enrique Razon (ICTSI)

The sixth entrepreneur on our list is Enrique Razon, the chairman and CEO of International Container Terminal Services, Inc. (ICTSI), the country’s leading ports operator. Enrique Razon was born in 1960 in Manila, Philippines to a family involved in the business of marine cargo handling. His grandfather started the business with a port in Manila in 1916, which his father rebuilt after World War II. Razon studied at De La Salle University in Manila and began his business career thereafter. In 1987, he and his partners incorporated ICTSI to bid for the Manila International Container Terminal (MICT) contract. After winning the contract in 1988, Razon spearheaded the MICT’s development program and expanded ICTSI’s operations to other terminals in the Philippines and abroad. ICTSI now operates in 32 ports across 19 countries. Razon also owns Bloomberry Resorts Corp., which developed Solaire Resort and Casino, a $1.2 billion integrated resort complex in Manila’s Entertainment City. He also has investments in power, water, mining, oil and gas exploration and leisure facilities. He is one of the richest people in the Philippines with a net worth of $7.5 billion as of March 2023.

Andrew Tan (Alliance Global)

Meet Andrew Tan, the self-made billionaire entrepreneur who rose from humble beginnings to become the founder and chairman of Alliance Global Group Inc. Despite being born into a poor family of factory workers in China in 1952, Andrew Tan’s determination and hard work propelled him to success. He moved to Hong Kong as a child and shared a cramped apartment with other families before eventually settling in Manila. There, he studied accounting at the University of the East and graduated magna cum laude. Tan’s entrepreneurial journey began as a brandy salesman, but he didn’t stop there. He went on to establish Emperador Distillers Inc., which became the world’s largest brandy producer. He also ventured into real estate and developed Megaworld Corporation, which pioneered the live-work-play concept and became the biggest developer of business process outsourcing (BPO) offices in the Philippines. He also invested in other sectors such as gaming and tourism (Bloomberry Resorts Corp.), fast food (Golden Arches Development Corp.), power (Global-Estate Resorts Inc.) and infrastructure (Infracorp Development Inc.). He is one of the richest people in the Philippines with a net worth of $2.3 billion as of March 2023.

Andrew Tan had a lot of lessons to share from his incredible journey. Here are some of his quotes that can encourage us:

Jaime Zobel de Ayala

Jaime Zobel de Ayala, chairman emeritus of Ayala Corporation, one of the oldest and biggest commercial conglomerates in the Philippines, is the eighth entrepreneur on our list. Jaime Zobel de Ayala was born in 1934 in Manila, Philippines, into a Spanish-Filipino family with ties to Spain’s Basque country. He attended Harvard University, where he graduated in 1959 with an MBA and 1957 with a B.A. in architectural sciences. Ayala Corporation hired him in 1958, and he rose through the ranks to become president in 1968 and chairman in 1984.He led the company’s expansion into various sectors such as banking, real estate, telecommunications, water distribution, electronics, automotive and business process outsourcing. He also initiated several corporate social responsibility programs such as the Ayala Foundation, Ayala Museum and Ayala Center for Social Development. He retired as chairman and CEO of Ayala Corporation in 2006 and was succeeded by his son Jaime Augusto Zobel de Ayala. He remains as chairman emeritus and continues to be involved in various civic and cultural organizations. He is one of the richest people in the Philippines with a net worth of $2.55 billion as of January 2023.

David Consunji

The ninth entrepreneur on our list is David Consunji, the man who in one way or another is referred to as the man who built the Philippines. He emerged from his humble origins as the son of a farmer and a tobacco cook to become the founder of DMCI Holdings Inc., one of the top construction and engineering companies in the nation. In 1954, he established his business with a P3,000 investment with the goal of building dependable, high-quality structures. He began with minor jobs like home construction and road repair, but soon expanded his firm into bigger jobs like dams, bridges, power plants, hotels, and shopping centers. He also made forays into other industries, including mining, electricity production, water delivery, and real estate. In 2014, he stepped down from his position as chairman of DMCI Holdings Inc. and left his legacy to his son Isidro Consunji. At the age of 95, he passed away in 2017.

Tony Tan Caktiong (Jollibee Food)

This list cannot be complete without mentioning Tony Tan Caktiong, the king of fast foods in the Philippines. He is the founder and chairman of Jollibee Food Corporation, one of the world’s fastest-growing Asian restaurant chains. Tony Tan Caktiong was born in 1953 to Chinese immigrant parents from Fujian. His father worked in a restaurant in China and as a cook in a Buddhist monastery in Manila before setting up his own restaurant in Davao City. Tony Tan Caktiong studied chemical engineering at University of Santo Tomas and graduated in 1975. He started his career as an ice cream parlor operator in 1975, but soon realized that his customers wanted more than just ice cream. He added hamburgers, fries and fried chicken to his menu and created Jollibee, a fast food chain that catered to the Filipino taste. He also expanded his business into other brands such as Chowking, Greenwich, Red Ribbon and Mang Inasal. He also partnered with Edgar Sia II to invest in DoubleDragon Properties, a real estate developer. He is one of the richest people in the Philippines with a net worth of $1.2 billion as of March 2023.

Filipino Fast Food King and one of the most successful Philippines Entrepreneurs

Tony Tan Caktiong had a lot of insights to share from his amazing journey. Here are some of his quotes that can motivate us:

“I believe that entrepreneurship is about being able to face failure, manage failure and succeed after failing.”
“I believe that customer satisfaction is the key to success. That is why I have always listened to our customers and delivered what they want and need.”
“I believe that teamwork is essential for growth and innovation. That is why I have always valued our employees and partners and treated them as family.”

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10 LESSONS WE CAN LEARN FROM THESE SUCCESSFUL PHILIPPINES ENTREPRENEURS

Start small but dream big. Most of these entrepreneurs started with humble beginnings and limited resources, but they did not let that stop them from pursuing their goals and ambitions. They worked hard, saved money and reinvested in their businesses. They also seized opportunities and expanded their markets and products.
Adapt to the local needs and preferences. These entrepreneurs understood their customers and delivered what they wanted and needed. They also adapted to the changing tastes and demands of the market. They offered quality products and services at affordable prices and with a Filipino touch.
Diversify your portfolio and sources of income. These entrepreneurs did not rely on one industry or sector for their success. They diversified their interests and investments into various fields and sectors. They also leveraged their core competencies and synergies across their businesses.
Innovate and embrace change. These entrepreneurs did not settle for the status quo or the conventional way of doing things. They innovated and experimented with new products, services, processes and technologies. They also embraced change and challenges as opportunities for growth and improvement.
Build trust and reputation. These entrepreneurs built trust and reputation with their customers, partners, employees and stakeholders. They adhered to high standards of quality and integrity in their projects. They also delivered on their promises and exceeded expectations.
Value your employees and partners. These entrepreneurs valued their employees and partners as their most important assets. They treated them as family and empowered them to share their vision and work together towards a common goal. They also rewarded them for their performance and loyalty.
Support social development and environmental protection. These entrepreneurs supported social development and environmental protection in their country. They initiated or participated in various corporate social responsibility programs that aimed to improve education, health, environment and sports in the country. They also adopted sustainable practices in their operations and minimized their environmental impact.
Learn from failure and mistakes. These entrepreneurs learned from failure and mistakes as part of their journey. They did not let failure discourage them or stop them from trying again. They also learned from their mistakes and improved their strategies and decisions.
Have a passion for learning and discovering new things. These entrepreneurs had a passion for learning and discovering new things. They constantly sought new knowledge, skills and opportunities to enhance their capabilities and competencies. They also kept themselves updated with the latest trends, developments and innovations in their fields.
Have a positive attitude and outlook in life. These entrepreneurs had a positive attitude and outlook in life. They were optimistic, resilient and confident in themselves and their businesses. They also enjoyed what they did and had fun along the way.

Tags: Filipino Billionaire Entrepreneurs Philippines