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Tony Tan Caktiong

Tony Tan Caktiong, (born January 5, 1953) is a Filipino businessman and investor. He is the founder and chairman of Jollibee Foods Corporation, and the co-chairman of DoubleDragon Properties. Forbes listed him as the fifth richest person in the Philippines in 2023, with an estimated net worth of US$3.2 billion.[5]

Early career and education

Tan Caktiong was born on January 5, 1953 in the then-undivided province of Davao (in now Davao del Sur) to Chinese immigrant parents from Fujian.[6][7] His father worked in a restaurant in China and as a cook in a Buddhist monastery in Manila before setting up his restaurant in Davao City.[8] Tony Tan Caktiong attended high school at Chiang Kai Shek College[9] and graduated from the University of Santo Tomas with a degree in chemical engineering in 1975.[10] Tan had initially planned his fledgling nascent company to be an ice cream parlor when he founded Jollibee, and then added dishes such as hamburgers, french fries, and fried chicken.

Career

Jollibee Foods Corporation

Tan Caktiong founded the fast-food chain Jollibee in 1978 after starting it as an ice cream parlor in 1975.[11] Expansion and acquisition of Greenwich Pizza Corp.[11] enabled it to enter the pizza-pasta segment. In early 2006, Jollibee Foods Corporation bought out the remaining shares of its partners in Greenwich Pizza Corporation, equivalent to a 20% stake, for P384 million in cash.[12][13][14][15]

As of August 2008, Tan Caktiong's Jollibee has 1,480 stores worldwide, including Jollibee, Red Ribbon, Chowking, Greenwich, Manong Pepe's and Mang Inasal.[16]

DoubleDragon Properties

In 2012, Tan Caktiong, through his holding company, Honeystar Holdings Corporation, invested in Injap Land Corporation, a property company founded by Edgar Sia II. With Tan Caktiong's entry, the company was renamed DoubleDragon Properties Corporation.[17]

Personal life

Tan Caktiong is married to Grace (née Ang).[18] He has 3 children.[19] He is also the brother of Ernesto Tanmantiong, who is the President and CEO of Jollibee Foods Corporation.[20]

Awards

  • Entrepreneur Of The Year Philippines, 2004[21]
  • Ernst & Young World Entrepreneur Of The Year, 2004[22]
  • Gawad Mabini with the rank of Commander (Dakilang Kasugo),2016 [23]
  • Honorary doctorate from the University of Santo Tomas, 2018[24]

See also

References

  1. Tony Tan Caktiong Profile Forbes^
  2. Doris Dumlao. Jollibee owner ventures into property dev't Philippine Daily Inquirer, 27 August 2012, retrieved 11 September 2022^
  3. Tony Tan Caktiong: Executive Profile & Biography Bloomberg webpage, retrieved June 15, 2018^
  4. Board of Directors Double Dragon Properties, Corp. webpage, retrieved June 15, 2018^
  5. "JANE HO". Philippines' 50 Richest 2023 Forbes, retrieved 2023-08-28^
  6. Tony Tan Caktiong: Wealth, Business Empire, and Life Outside Work September 23, 2023^
  7. Estate planning: Tan Caktiong, Jollibee ‘founding owners’ consolidate holdings in Hyperdynamic through P24.4B deal - Bilyonaryo Business News bilyonaryo.com, March 11, 2021^
  8. How fried chicken made Jollibee founder Tony Tan Caktiong a billionaire South China Morning Post, 8 July 2020, retrieved 24 September 2022^
  9. Facebook www.facebook.com, retrieved 2024-11-10^
  10. Doris Dumlao-Abadilla. 'Dragons' reshaping PH Philippine Daily Inquirer, 3 June 2018, retrieved 11 September 2022^
  11. Josiah Go. Fundamentals of Marketing: In The Philippine Setting Design Plus, 2001^
  12. Cai U. Ordinario. Jollibee Foods buys out partner in Greenwich Pizza BUSINESS, The Manila Times Internet Edition, 2006-01-18, retrieved 2007-03-12^
  13. Restaurant chain trains staff, bags corporate social responsibility award Cebu, Sun.Star Publishing, Inc.^
  14. Cheryl M. Arcibal. Jollibee group buys out partner in Delifrance BUSINESS, The Manila Times Internet Edition ss/20061111bus4.html^
  15. Philippine fast-food giant acquires China chain 2007-09-20, retrieved 2013-09-14^
  16. Jollibee to acquire entire stake in China-based restaurant GMA News, 2008-08-26, retrieved 2013-09-14^
  17. Jollibee owner ventures into property dev't Philippine Daily Inquirer, 2012-08-27, retrieved 2017-09-12^
  18. Cliff Venzon. How Jollibee's founder is building a fast-food empire Nikkei Asia, 22 August 2018, retrieved 3 July 2022^
  19. Tony Tan Caktiong Forbes^
  20. Wilson Lee Flores. Jollibee CEO courted future wife with 88 letters in 8 years while dreaming big The Philippine Star, 27 October 2019, retrieved 3 July 2022^
  21. Food industry giant founder is Philippines' first Entrepreneur Of The Year^
  22. Tony Tan Caktiong ey.com, retrieved December 29, 2023^
  23. APEC Awarding Ceremony to Mr.Tony Tan Caktiong RTVM.gov.ph, January 14, 2016^
  24. Danny Pata. UST confers honoris business degree to Jollibee founder GMA News, 15 February 2018, retrieved 21 November 2019^