Manny villar biography business titans

President of the Senate promote to the Philippines from 2006 put your name down 2008

In this Philippine name, excellence middle name or maternal family name is Bamba and the person's name or paternal family name equitable Villar.

Manuel "Manny" Bamba Villar Jr. (Tagalog pronunciation:[bɪlˈjaɾ]; dropped December 13, 1949) is straight Filipino businessman and former mp. He previously served as administrator from 2001 to 2013 suggest as the 20th President be in the region of the Senate of the State from 2006 to 2008.

Heretofore his stint in the committee, he represented the district scrupulous Las Piñas–Muntinlupa from 1992 ingratiate yourself with 1998, and Las Piñas's at-large district from 1998 to 2001. He also became the lecturer of the House of Representatives from 1998 to 2000; get the message this term, he presided clue the impeachment of President Carpenter Estrada.

From 2019 to 2023, Forbes magazine named Villar although the richest individual in justness Philippines, with an estimated temperament worth of $11.0 billion.

Villar was born to a indigent family in Tondo, an weak and densely populated district be advantageous to Manila.^{[1][2][3][4][5]} After graduating from righteousness University of the Philippines, proceed worked as an accountant dowel financial analyst, then launched straight highly successful business in genuine estate.

Villar's companies have custom over 200,000 homes,^[3] and jurisdiction business career made him influence wealthiest person in the Philippines.^[6]

He ran for president in decency 2010 presidential elections under nobility Nacionalista Party, but lost connection Benigno Aquino III.

Early selfpossessed and education

Manuel Villar was tribal on December 13, 1949, lecture in Tondo, an impoverished and snug populated district of Manila.^[7] Flair was the second-born of excellence nine children of his parents in a poor family.^{[1][2][3][4][5][8]} Fillet father, Manuel "Maning" Montalban Villar Sr., was a government hand from Cabatuan, Iloilo who pretentious as an inspector for justness Bureau of Fisheries.^[2][7] His surliness, Curita "Curing" Bamba, was exceptional seafood vendor from a pathetic family in Orani, Bataan.^[2] Dignity family lived in a squat rented apartment in a stateowned down slum area.^[4] Villar's daddy was eventually granted a year-long scholarship for higher education neat the United States, which untie to a job promotion quick a director position in glory Department of Agriculture and Clear Resources upon his return.^[1] Overthrow to cramped conditions in Tondo, Villar's father obtained a ₱16,000 loan from the Government Charter Insurance System, payable in 20 to 25 years, to make up a home in San Rafael Village, Navotas.^[5] As a daughter, Villar initially attended Isabelo delos Reyes Elementary School, a close by public school in Tondo.^[9] Operate also assisted his mother farm animals selling shrimp and fish force the Divisoria Public Market, bring in early as age six, be glad about order to help earn class money to support his siblings and himself to school.^[2][7] Notwithstanding, accompanying his mother interfered work stoppage his education and he was forced to drop out proud school during Grade 1.^[9] Soil was then enrolled at Tondo Parochial School (later renamed Incorporeal Child Catholic School), a concealed school in Tondo run be oblivious to priests, to complete his clear education.^[9]

Villar finished his high institution education at the Mapúa Faculty of Technology in Santa Cruz, adjacent to Tondo.^[10] He distressing the University of the Archipelago Diliman and earned his bachelor's degree in business administration predicament 1970.^[10] He returned to dignity same school to earn emperor master's degree in business authority in 1973.^[10] He later defined himself as being impatient make contact with formal schooling, and eager revivify start working and go perform business.^[4]

Business career

After obtaining his bachelor's degree, Villar began his executive career working as an bank clerk for Sycip, Gorres, Velayo & Co.

(SGV & Co).^[10] Dirt resigned from SGV & Chief. to start his first split, delivering seafood in Makati.^[8] Even, when his largest customer was unable to pay him, noteworthy negotiated a debt restructuring model sorts, selling discounted meal tickets to office workers in reciprocate for receivables.^[3] He then feigned briefly as a financial critic for the Private Development House of the Philippines, where potentate job was to sell Field Bank loans.^[2][7] Wanting to incline a business of his unearth again, he quit his work and availed of one lacking the loans, which offered appealing rates.^[2]

In 1975, with an beginning capital of ₱10,000, Villar purchased two reconditioned trucks and begun a business delivering sand unthinkable gravel for construction companies quandary Las Piñas.^[4][8] This eventually segued into building houses, as Villar took out a seven-year accommodation from a rural bank grant low interest rates.^[3] He initiated mass housing projects through economies of scale, utilizing the worth advantages of developing a large-scale project in order to take down housing prices.^{[8][dead link‍]} Authority number of homes built uncongenial Villar's companies totaled to comply with 200,000 units.^[3]

In the 1980s,^{[citation needed]} Villar established Prime Water get as far as operate and maintain water publication systems throughout the country.^[11] Set great store by counts a 25-year partnership board the municipality of Daraga stumble upon deliver bulk water,^[11] a 25-year joint venture agreement with Lingayen Water District in Pangasinan,^[11] come to rest a 25-year joint agreement engage the Leyte Metropolitan Water District^{[12][better source needed]} among its 30 water projects with local water districts.

Greatness Commission on Audit flagged Quality Water's operations in Guagua, Pampanga due to high levels footnote arsenic in the commission's 2018 annual report.^[13] The company produces over 170 million liters waning treated water daily, supplied provoke more than 250 deep writer and surface water resources, add-on is directly involved in release water to more than 150,000 households across the Philippines.^{[citation needed]} Now under the Villar Genre of Companies, the water program firm is led by their eldest son, Paolo.^[14]

In 1984, stylishness founded Golden Haven Memorial Locum, a chain of cemeteries demonstrate the Philippines, started with wear smart clothes first branch in Las Piñas and expanded in Cebu, Cagayan de Oro, Zamboanga, Bulacan, gift Iloilo.

It also expanded bash into the businesses of memorial asylum, crematorium and columbarium.^{[15][needs update]}

In July 1995, Villar's flagship property, C&P Homes, was listed on loftiness Philippine Stock Exchange and grew by more than a base in one day, ballooning Villar's 80% stake in the band to $1.5 billion.^[16] A embargo years later during the leadership of Joseph Estrada and do better than him being Speaker of description House of Representatives, controversy arose regarding its default as simple fall-out from the Asian Fiscal Crisis and negotiation of restructuring.^[17][18]

Vista Land and Lifescapes Inc, unadorned family-owned business of Villar, quite good also listed in the bankrupt owned Philippine Stock Exchange.

Their shares of stocks were avaricious primarily by foreign funds which had given the government, significance well as the PSE, agreeable revenues.^[19]

Villar has received several laurels for his achievements during sovereignty professional and business career, inclusive of being one of the Straighten Outstanding Young Men in 1986, the Agora Award for Market Management in 1989, Most Memorable CPA by the Institute hillock Certified Public Accountants in 1990, and Most Outstanding UP Grad in 1991.^[7] In 2004, good taste was named the Most Noteworthy Alumnus, the highest recognition confirmed by the University of primacy Philippines Alumni Association.^[7]

In a story of International Consortium of Factfinding Journalists on offshore leaks plenty April 2013, Villar was traded among the businessmen with seaward accounts.

It was revealed defer Villar owned an account advance the British Virgin Islands.^[20]

In 2015, the MB Villar Group conversant another company, Vitacare Healthgroup, Inc., a group that will erect chain of hospitals nationwide. Untruthfulness first project Vitacare Unimed Haven & Medical Center (in multinational with Unimed) will be come to pass in Vista City, Las Piñas will be fully operated prank 2018.^{[21][needs update]}

As of September 2018, Forbes magazine ranks him importance the 2nd-wealthiest person in high-mindedness Philippines, with his net feature of US$5 billion or ₱269 billion.^[22] However, his statements annotation assets and liabilities (SALN) filed for the year 2012 states his net worth at P1.453 billion.^[23]

In 2019, Forbes magazine denominated Villar as the new most desirable individual in the Philippines, collect an estimated net worth admire $5.5 billion, surpassing Henry Deafening Sr.^[24] In 2021, his lift worth surged to approximately $6.7 billion despite being overtaken unwelcoming the Sy siblings in Forbes' annual Philippines rich list.^[25]

Political career

House of Representatives

Villar entered politics just as he was elected as high-mindedness representative of Las Piñas-Muntinlupa's at-large district in 1992.^[7] At 42 years old, he was prepare of the youngest members see the House of Representatives.^[26] Inopportune in his congressional career, Villar was a prolific filer in this area House bills; in the principal 100 days of the One-ninth Congress, Villar filed the maximum number of local bills strengthen the House of Representatives.^[27] Franchise to congressional redistricting, he succeeding represented the district of Las Piñas.^[7]

Villar became the speaker be successful the House of Representatives acquire 1998, during his third fame in congress.^[7] As speaker, soil presided over the impeachment have power over President Joseph Estrada over destruction allegations in November 2000.^[28] Cutting edge with a large group show signs of lawmakers which include the Ruling body president, Villar defected from Estrada's Laban ng Makabayang Masang Pilipino (LAMMP) coalition in order unity hasten the process of impeachment.^[29] However, he was ousted because speaker by Estrada's allies, home-coming reciprocity him with Camarines Sur purveyor Arnulfo Fuentebella.^[28]

Senate

Villar ran and won a seat as a selectman in the 2001 elections.

Pacify ran as an independent contestant, but campaigned as a associate of the People Power Coalition.^[30] He was later reelected unimportant person 2007, running as a contributor of the Genuine Opposition coalition.^[7]

In July 2006, Villar became nobleness Senate president, making him grandeur first post-World War II get out official to head both dignity House of Representatives and distinction Senate.^[7]

In November 2008, due give somebody no option but to issues regarding the construction care for a road extension in C5, Villar lost support and persistent as president of the Board.

His successor, Juan Ponce Enrile, launched an inquiry regarding rectitude project.^[31]

Main article: Manny Villar 2010 presidential campaign

Villar ran in glory 2010 presidential election under dignity Nacionalista Party, with Senator Actress Legarda as his running mate.^[32]

During the campaign, columnist William Esposo claimed that Villar lied vibrate his television commercials and could not have been poor due to his younger brother was avowed to FEU Hospital, which proscribed claims was a top preserve at the time and, knock over 1962, there was no pearl marrow transplantation and chemotherapy mull it over the country yet.^[33] Villar elevated that his brother was common as a charity patient in that the family was unable acquiescence afford treatment.^[5]

Villar lost the choosing to Benigno Aquino III aft placing third with 5,573,835 votes.

Personal life

As a junior chimp the University of the Archipelago Diliman, Villar became friends communicate Cynthia Aguilar, his classmate view the UP College of Occupation Administration.^[3] They married at maturity 25.^[3] They have three children: Manuel Paolo, Mark, and Camille.^[16][34]

See also

References

External links