A Wealthography and Powertocracy of the Philippines

Lucio Tan, 74

• Fortune Tobacco• Alliance Global• Philippine Airlines• Eaton Properties Philippines Inc.• Golden Arches Development Corporation

• Emperador Distillers Inc. - Brandy•Gaming, Tourism, Office Buildings/Residential Complexes for MNC's• Ongoing criminal investigations for tax evasion

CojuangcoPre-CW

• 9 members in congress since 1907 - 25 relatives in

congress since 1898•Family - over 9000 hectares land

•Allied with every Rep. from Negros Occidental but one.

•Eduardo Cojuangco, 73•San Miguel Corp.

• Now own 34% of Meralco • 3 congressmen have

declared ties (2006)

Marcos• Ferdinand & Imelda

• Bong-Bong Marcos• Only son of Imelda

and Ferdinand•Aremla - Marcos

Foundation

♣ = PoliticsPeriod of Familyʼs First Election to Legislature: Pre-CW = Pre-Commonwealth (1907-34) CW = Commonwealth (1935-42) P-WR = Post-War Republic (1945-59) ML = Martial Law (1972-86) PM = Post-Marcos (1986-Present)

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Lopez• Oscar Lopez, 78:• 3x VP of Philippines• Founded University of Iloilo• ABS-CBN Broadcasting Co.

• Bayan Telecom• Meralco - 74% monopsony over Luzon power generation• Other Biz: Maynilad, First Gen, Manila North Tollways, Rockwell Land Corporation

Sergio Osmeña III

• Former Senator, 1995-07 - Independent• Known as fiercely anti-corruption• Some former business affiliations:

• Director, Philippine National Bank,1992-95• Director, San Miguel Corp., 1993-95

• Founder of Justice for Aquino Justice for All (JAJA) Movement

OsmeñaPre-CW

•Cebu Province • John Henry Osmeña

• Senator, 1972-73, 1987-95, 1998-04

•Esteban de la Rama• Former

Senator

Raul V. del Mar

• Congressman, 1987-98, 2001-present

Tomas Osmeña III

• Mayor of Cebu City, 1998-95,

2001-07brothers

Shared a jail cell together under

Marcos Martial Law

Eduardo Cojuangco: Godfather of Bong-Bong

Marcos

Macapagal-Arroyo

• Gloria M-Arroyo (GMA)

• President, 2001-present

•Diosdado Macapagal• Former President,

late father of GMA

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Roberto Ongpin

• Ashmore Group representative in

Philippines

Ashmore bought govʼtʼs 40% share of Petron without bid and sold it directly to SMC.

Marcos crony

Sergio Osmeña criticized for close ties to Lopez family

cousins

AquinoPre-CW

• Servillano Aquino•Congress, 1898

•Benigno Aquino Sr•Congress, 1919-39

Corazon “Cory”

Cojuangco Aquino

• President, 1986-92• Widow of Former Senator

and Marcosʼ rival Ninoy Aquino• Heir to Cojuangco

sugar fortune

Mike Arroyo

• Ashmore Group• Alpha Land Corp.

(Hong Kong)• Implicated in World

Bank Scandal - bidding anomalies with ZTE-

NBN

spouse

Mike Arroyo

secretly owns

Ashmore

Ongpin was Marcos era Trade-Minister

Imelda ʻImeeʼ Marcos

• Congresswoman, 2001-04

•Last remaining member, Marcosʼ

KBL Party

Marcos owned 60% of each of Tanʼs 9 companies, including Fortune Tobacco Corp; Asia Brewery Inc; and Allied Banking Corp.

daughter

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Marcos Cojuangco

• Congress, 2001-07

• P85 mill

Gilberto Teodoro Jr.

• Congress, 2001-04

• P75 mill

son

nephew

Jose ʻPepingʼ

Cojuangco Jr.

• Former Congressman, House Speaker

• Led formation of LDP party (pro-Aquino)

in 1998

Albertito Lopez

• Congress, 2001-04

Emily Lopez

• Congress, 2001-04

Business Beef

between Lopez-

Cojuangcoʼs

spouse

Kris Aquino

• Politically ambitious

celeb

Jesli Aquino Lapus

• Congresswoman• 3rd District-Tarlac

• NPC party

ʻNoynoyʼ Aquino III

• Congressman• 2nd District-Tarlac

• Liberal Party

Brother/Sister

Gilberto Aquino

• Congressman•1st District-

Tarlac

ʻButzʼ Aquino

• Senator• Makati City

• LDP party

ʻTessieʼ Aquino-Oreta

• Senator• Former

Congresswoman

uncle

Brother/Sister

2nd cousin

aunt

aunt

Manuel V. Pangilinan

ʻMVPʼ

• New-$$ Businessman• Smart Telecom• Chairman, PLDT• Led purchase of Meralco shares• Has paid off MILF insurgency

in Mindanao to target towers of Globe Telecom and

not Smart.

Antonio Cojuangco

• Former director, PLDT

nephew

Mikey Arroyo

• Congressman• Pushing for Charter

Change in the constitution before his

mom steps down in 2010

son

son

Ramon Cojuangco

• Director, Bank of Commerce

ʻTessieʼ Aquino-Oreta

• Senator• Former

Congresswoman Brother/Sister

Brother/Sister

nephew

Garcia

• Manuel Garcia• Congress, ʼ78-ʼ01

• Vincent Garcia, 42• Congress, ʼ01-ʼ04

• Rodolfo P. del Rosario• Congress, ʼ78-ʼ98

• Rodolfo R. del Rosario• Congress, ʼ87-ʼ92• 2 mayors of Davao

City

Garcia Family facilitated

GMAʼs 2004 vote-rigging

effort in Mindanao - 1 million

votes were coerced

Fact: 87% of senators declared

assets of more than P11m... 25% have P100-500m (2006)

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A Wealthography and Powertocracy of the Philippines

Zobel Pre-CW• Inigo & Mercedes Zobel

• Mermac Inc. - Stakes in Ayala Corp.• Enrique Zobel Foundation• Enrique Zobel = late cousin of

Jaime

Ayala• Descends from Juan

Ayala (circa 1475) - big landowner

• Patriarch Antonio de Ayala sailed for Manila 1800s and established an industrial partnership with Domingo Roxas, descendant of Antonio Fernández de Roxas, who migrated to the Philippines

in 1695, and later with Dr. Johannes Andreas

Zobel

Zobel de Ayala

Pre-CW• Jaime Z. de Ayala, 74. - Jaime Augusto and Fernando ZdeA currently active at Ayala Corp.• Ayala Corp. - oldest conglomerate in the Philippines, 7 generations under Zobel de Ayalas

• Own much of Metro Manila real estate• Bank of Philippine Islands• Ayala Land Inc.• Manila Water Co.

• Globe Telecom

Yuchengco• Yuchengco Group of Companies

• MICO Equities Inc., Pan Malayan Management and Investment Corp., Mapua Institute of Technology, Nippon Life Insurance Co., Rizal Commercial Banking Corp., GPL Holding, House of Investments Inc., BA Savings Bank, Dole Philippines, Philippine Long Distance Telephone Co., Benguet Corp., Philippine Fuji Xerox Corp.• Industries: FIRE, Banking, Education, Telecom, Manufacturing

Estrada• Ariston Estrada Jr., Former Director:• AC Intʼl Finance Ltd. • Ayala DBS Holdings Inc.

• B.P.I.

Ariston Estrada Jr. - Director & Advisor to Chairman of Ayala Corp. since ʼ83

RoxasPre-CW

• Antonio J. Roxas, Chairman:

• Roxas & Company, Inc.

• Wholesale, import of IT

Products• Roxaco Land Corp. -

Property Development

• Roxas Holdings• Sugar

Manufacturing

Margarita Roxas de Ayala (1826-1869) = Matriarch of Roxas, Ayala, and Zobel families. One of greatest Philippine businesswomen of all time

Alfonso T. Yuchengco, 85:

• Chair - Rizal Commercial Banking Corp.• Chair - Mapua Instiute of Tech• Board of Advisors Columbia Business School

• RP Permanent Rep. to U.N.• Major politician

Tan

• Andrew Tan, 59• Chair of Megaworld

Corp.• Large multi-use real-

estate and technology parks

Madrigal

• Very wealthy and political family

•Maria Ana Consuelo “Jamby” Madrigal-Valade

• Current Senator• Books-for-the-Barangay Foundation Inc.

• education for poor• Abad Santos Madrigal Foundation Inc.

• women/children empowerment• Aunt Pacita Madrigal-Gonzales and

grandfather Vincente Madrigal both former senators

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Inigo & Mercedes inherited stakes in Ayala Corp. from late aunt Mercedes Zobel McMicking

Inigo Zobel

• Board of San Miguel

Corp. (Cojuangco)

•Board of Mermac

Inc.

Mercedes Zobel

• Mercedes helps run Enrique Zobel Foundation

Razon• Enrique Razon Jr., 48.

• International Container Terminal Services• Port operations

enlightened?

Manuel Roxas

• Started Liberal Party in 1945 to oppose Sergio Osmena Sr. (Nacionalista

party)

Sy• Teresita Sy-Coson, 56• Daughter of Henry Sy• CEO Banco de Oro Unibank • SM Investments • Banco de Oro Unibank• China Banking Corp.•Real Estate

• Retail - Mall of Asia• Massive wealth

Salonga•Former Senate President

Jovito Salonga•Civil Society Leader•Pushing for impeachment of current Ombudsman Gutierrez

Ramos• Fidel V. Ramos

• Former President, 1992-98• Currently the Chairman

Emeritus of Lakas CMD (Christian-Muslim Democrats) Party

•Under Marcos was head of the Philippine Constabulary,

implementing martial law

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At height of Vote-Rigging scandal in 2005, Ramos publicly convinced GMA not to resign from office.

Margarito Gary Teves

• Secretary of Finance• President, Land Bank of the Philippines

• Comes from Ayala Corp.

Ronald Teves

• Department of Agriculture

Teves• Hermenio G. Teves

• Congressman• Agriculture Committee•Hermino Teves & Co. Inc.

• sugar milling

son

nephew

Tan Caktiong

• Tony Tan Caktiong, 55

• Founder, Chairman, & CEO Jolibee Foods

• Board Director of Philippines Long Distance Telephone Co. (PLDT)

• PLDT Recently bought 10% share in

Meralco

Ortigas• Ortigas & Co. Limited

Partnership • Ortigas Family

Foundation• Real Estate

2/3 of House and 1/2 of

Senate is from a political clan

A provision in the 1987 constitution prohibited “Political Dynasties”...

AssetsofasuccessfulFilipinofamily:• Wealthaccumulation• Politicalviolence• Strategicpolitically‐motivatedmarriages

• Patronage• Diversebusinessinterests• Controlofmediaandorpropagationofpopularmyths/ideologiestojustifyone’sfamily’sdominance

Don Enrique Zobel de

Ayala• Most important businessman during American Colonial period• Consuelo Zobel Alger (daughter)

• Siblings with Mercedes

Possibly the most powerful and tenured family in Philippine history

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A Wealthography and Powertocracy of the Philippines

Fok

• Henry Fok, 82

• Smuggled supplies to China

despite U.N. embargo during

Korean War --> wealth

• Sociedade de Jogos de Macau

• Gambling, owned by

Ho

• Donated $100million to Hong

Kong University of Science

and TechHo

• Stanley Ho, 87• Gambling• Citizen of Hong

KongFok helped finance Hoʼs bid for a gaming license in 1960ʼs... 2006 owned massive stake in Hoʼs Sociedad de Jogos de Macau

Cayetano

• Cayetano Family Foundation Inc.

• Sanpil Holdings Corp.

• Slarep Development Inc.

• Pateros Development Corp.

• Parcay Ventures Inc.

•Gabriel Symphony Foundation

Inc.• Property

Development/

Pilar Juliana

Cayetano-Sebastian

• Current Senator

• Committee Chairwoman:

• Environment and Natural Resources

• Health and Demography

Allan Peter

Cayetano

• Current Congressman•Chairman, Rules

Committee

Brother/

Sister

in- laws

Magsaysay• Ramon Magsaysay Sr. • President, 1953-57• Genaro Magsaysay• Senator, 1960-72

• Leonardo B. Roman• Governor of Bataan, -2004• Antonio M. Diaz• Congress, 1969-72, 1992-01, 2004-07. • Magsaysay Group of Companies

Vincente Magsaysay

• Governor of Zambales

Enrique Garcia Jr.

• Congress, 1987-92, 1995-07

Ramon Magsaysay Jr.

• Current Senator• Country Communication Network Inc.• Cable Communications Inc.• RMJ Development Corp.• Was head of Agriculture Committee during Fertilier Scandal of ʼ04

Albert S. Garcia

•Congress, 2004-07• Mayor of Balanga, 1998-04

Nephe

w

Cousins

Cousins

Lim

• Alfredo Lim, 80•Mayor of Manila, 1992-98, 2007-present•Former Senator

•Declared Business Interests: •Land Bank of the Philippines

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Yu• Tan Yu:

•RP philanthropist and Real Estate•Once richest in RP•Founder of KTTI Foundation & Asiaworld International Group

Aboitiz• Enrique Aboitiz, 86•Aboitiz Equity Ventures•Aboitiz Transport Systems - ferries/buses

• Ramon Aboitiz Foundation Inc. • Local Cement Magnate• Banking, Food, Real Estate, Logistics• Used to be very close to Estrada, but when ESDA II happened Enrique disappeared from limelight.

Juan Ponce Enrile

• Career Politician•Current President of Senate

• Marcosʼ Defense Minister, right-wing

man during martial law. Later led

EDSA I. • Blasted Jose Aquino for recent

Legacy Group Scandal•Business interests:

• JAKA Group - distribution, food, land, property and

security, finance.

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Panfilo “Ping” M. Lacson

• Presidential Hopeful 2010•Senator, chairman of Committee on Accounts• Opposition, Anti-Corruption• Hard-line Right Wing - Former head Philippine National Police•Green Rock Construction & Development Corp. • P20m collection of motorcycles, P5m of

guitars

Lacson

•Lacson Commercial and Industrial CorporationEdgardo G. L.•President, Philippines Chamber of Commerce and Industry (PCCL)Arsenio L.

• Former Mayor Manila (enlightened?)Panfilo P. L. Jr.• Daimler Motor Corp./Phils Eviro Services Inc.

Ronald Jose P. L. •Malcas Intʼl Aviation Services Co.• Bingo World Inc.

• Pro-Big-Pharma

Lacson nominated Enrile as President of Senate in 2008

VillarPM

• Vista Land, Polar Property Holdings

•Manuel Villar Jr., 60:•Senator, Chairman of...

•Accounts Com., Finance Com. Vice Chair of Agriculture and Food

•Presidential plans 2010• Interests: Real Estate

& Property

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Villar was Senate President until Nov. 08, when he resigned for lack of support. Enrile took position.

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Virata•Luis J.L. Virata

• 1999 stepped in as CEO of Philippine Airlines, replacing Lucio Tan

• Large shareholders of Nickel Asia

Eulogio R. Magsaysay

• Congress, 2004-07

Cynthia Villar

PM• Congresswoman, 2001-07•Father was in congress•P325 million worth

• Real estate, development

spouse

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Luisa Ejercito-Estrada

•Current Senator• Wife of Joseph Estrada

(former president, senator)

• Real Estate

Jose

“Jinggoy”

Estrada

• Current Senator

• Bistro Bar Inc.

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Mother- Son

Rosario•Ramon del Rosario Jr., 64

• Chief Exec: Philippine Investment-Management (Phinma)•1 year as Secretary of Finance•Recently Chaired Makati Business Club• Advocate for education•Ramon V. del Rosario, Sr. Center for Corporate Responsibility

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Magsaysayʼs a historically non-violent, non-rent-seeking family

Family-owned firms =

2/3 market capitalization

of Phisix

A provision in the 1987

constitution prohibited “Political

Dynasties”...

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A Wealthography and Powertocracy of the PhilippinesLorenzo

• Moro Lorenzo (Luis)

• Influential Politics and Business• Pepsi Products Philippines Inc.

• Manufacturing

Gordon

• Richard Gordon

• Current Senator

• Declared Business Interests:

• San Miguel Corp., Atlas

Consolidated Mining Co.,

Jollibee Foods Corp., Aboitiz

Equity Ventures, Philippino

Telephone Corp., Meralco,

Filinvest, Philex Mining

Corp., First Philippine

Holdings

Azcona•Vivian Que Azcona:

• Stake in Mercury Drug

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business interests!

Ty

• George Ty, 76 • Son Arthur Ty - Metrobank + Metrobank Foundation

• AXA Philippines (subsidiary): Life Insurance

• Stakes in B of Philippine Islands and Philippine Savings Bank (MB subsidiary)

• Built CT International Tower in Makati City

Gokongwei• John Jr., 82 - son Lance• JG Summit

• Air Transportation, Banking, Food Manufacturing, Hotels, Petrochemicals, Power Generation, Real Estate and Property Development, Tele-communications

Duavit

• Gilberto Duavit

Jr• Exec. VP & COO of

GMA Network• Family has

35% share

Jimenez• Mernardo Jimenez, 76

• Former GMA Network CEO• Media 2nd largest in RP

• Sits on board of Cojuangcoʼs San

Miguel Corp.

Gotianun

• Andrew Gotianun, 80

• Filinvest 1955 - consumer finance group => Filinvest Development

•Son Jonathan chairman, daughter Lourdes

Josephine G. Yap, president

Yap

• Emilio Yap, 82.•Philippine Trust, Centro

Escolar University Hospital• Banking, Hospitality, Universities, Construction

materials, Media, Healthcare

Soriano

• Cousins of the Zobel de Ayalas

• Used to own San Miguel - govʼt started buying into the company then Cojuangcoʼs assumed control

Garcia• Maj. Gen. Carlos F. Garcia

• Wife Clarita, sons Timothy Mark, 25, Ian Karl, 30, and Juan Paulo, 27• Entire family is under arrest in U.S. for plunder of over P303 million from RP!

Sandoval

• Vincente Sandoval

• Congressman, 12th House

• P240 million worth

• Family Businesses:

• Fishing, shipping

• Stalled the appointment of a Depʼt

of Environment and Natural

Resources b/c he wanted to

ban fishing within 15km

of shores

Sarmiento

• Lorenzo Sarmiento• Congress, former house

representative, served 3 terms

• Family business: Vitarich

• agribusiness giant

Syjuco• Augusto Syjuco

• Congressman, 12th House

• P250 million worth• Family business:

• Beverage manufacture, real estate

PuyatP-WR• Political family - congress since 1952• In business since 1907:• Steel

manufacturing •Multimillionaires DiMaporo• Abdullah DiMaporo•Congress, 12th House Rep

•P107 million worth•Used politics to amass wealth

Mathay• Ismael Mathay

•Congress, 12th House Rep• P85 million worth

•Marcos Cronies

Consunji

• David M. Consunji, 87• Chairs DMCI Group -

construction•Manila Drʼs Hospital•Manila Hotel

•Son Isidro is Chief Exec., daughter Edwina is treasurer

• Group's coal subsidiary, Semirara Mining Corp., is

nation's largest.

Campos

• Beatrice Campos•Widow of Jose, co-

founder of Unilab

• Pharma

DyP-WR

• Mernardo Jimenez, 76

• Former GMA Network CEO• Media 2nd largest in RP• Sits on board of

Cojuangcoʼs San Miguel Corp.

Faustino Dy Sr.

• Family Patriarch• Close ally with Ninoy Aquino but shifted allegiance to Marcos after Martial Law declared

• Logging and Politics in Isabela province since 1960ʼs Faustino

Dy Jr.• Congress, 3 terms• Governor, Isabella

Faustino Dy III

• Congress, 12th RepNapoleon

Dy• Mayor of

AliciaCaesar

Dy• Mayor of

CauayanVictor

Dy• Bangaray

Captain, San Fermin,

Cauayan

In 2001, all 5 Dy brothers held public office

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Evolution of Political Parties Post-Marcos

A Wealthography and Powertocracy of the Philippines

Lakas-NUCD

• Fidel Ramosʼ presidential party• Supported by Aquino

Laban ng Demokatikong Pilipino

(LDP)• Peping Cojuangco Jr. (Cory Aquinoʼs brother)

• Pro-Aquino party• Formed 1987

LAMMP• Jose Estradaʼs presidential party

1988

1992

1998

2001

KBL• Formerly a

huge Marcos party

LP(Liberal Party)

KBL LPLDP massive defections after Ramosʼ election

Nacionalist Peopleʼs Coalition

(NPC)• Danding Cojuangco

•Failed presidential bid

NPCLDPKBL LPLakas

Aksyon• Raul Roco• Failed presidential

bid ʼ98

Lakas-NUCD

• Gloria Macapagal Arroyoʼs party• People Power Coalition

NPC

KBL

Imelda “Imee” Marcos is only KBL rep in the 12th Congress

LDP• Panfilo

Lacson

LP

NP(Nationalist

Party)

NPC

NPC

Since 2004, NPC has been divided between Pro-GMA and Anti-GMA members

Presidential Election Year