Age, Biography and Wiki

Lucio Tan was born on 17 July, 1934 in Amoy, Fukien, Republic of China, is a Filipino businessman. Discover Lucio Tan's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is he in this year and how he spends money? Also learn how he earned most of networth at the age of 89 years old?

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Occupation Businessman, investor, philanthropist
Age 89 years old
Zodiac Sign Cancer
Born 17 July, 1934
Birthday 17 July
Birthplace Amoy, Fukien, Republic of China
Nationality China

We recommend you to check the complete list of Famous People born on 17 July. He is a member of famous Chairman with the age 89 years old group.

Lucio Tan Height, Weight & Measurements

At 89 years old, Lucio Tan height not available right now. We will update Lucio Tan's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
Height Not Available
Weight Not Available
Body Measurements Not Available
Eye Color Not Available
Hair Color Not Available

Who Is Lucio Tan's Wife?

His wife is Carmen Khao-Tan (1942—2020)

Family
Parents Not Available
Wife Carmen Khao-Tan (1942—2020)
Sibling Not Available
Children Not Available

Lucio Tan Net Worth

His net worth has been growing significantly in 2023-2024. So, how much is Lucio Tan worth at the age of 89 years old? Lucio Tan’s income source is mostly from being a successful Chairman. He is from China. We have estimated Lucio Tan's net worth, money, salary, income, and assets.

Net Worth in 2024 $1 Million - $5 Million
Salary in 2024 Under Review
Net Worth in 2023 Pending
Salary in 2023 Under Review
House Not Available
Cars Not Available
Source of Income Chairman

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Timeline

1934

Lucio Chua Tan Sr. (born July 17, 1934) is a Filipino business magnate, investor, and philanthropist.

He presides over the Filipino conglomerate company LT Group, Inc., a company with extensive business interests in sports, banking, airline, liquor, tobacco, real estate, beverages, and education.

As of November 2023, his net worth is estimated at US$2.4 billion.

Tan was born in Amoy (now Xiamen), Fujian, China.

His parents moved to Cebu in the Philippines when he was a child.

He was said to have gone to school on barefoot and first worked as a stevedore who tied cargo with ropes made from abaca He earned a bachelor's degree in Chemical Engineering from the Far Eastern University in Manila.

Forbes states that while in college, Tan "worked as a janitor at a tobacco factory" where he "mopped floors to pay for school."

Though the companies of Lucio Tan Group has been involved in various social responsible programs, Tan has benevolent personal philanthropy works, particularly in the academic sector.

Notable of which is his ownership stake with the University of the East, resulting for the erection of the nine-storey Dr. Lucio C. Tan Building on the university's Caloocan City campus.

Tan also gave a grant as an endowment for the development of Central Philippine University Institute of HRM and Tourism in Jaro, Iloilo City, which in return, was renamed in his honor as the Dr. Lucio C. Tan College of Hospitality Management, the first college/school in his namesake outside Manila.

A building which houses the said college is also named after him on the CPU's main campus, the Lucio C. Tan Building.

1987

After filing the case in July 1987, the PCGG seized control of Tan's companies, continuing to do so until 2006 when the anti-graft court Sandiganbayan nullified the writs of sequestration on Allied Banking Corp., Fortune Tobacco, Foremost Farms and Shareholdings Inc. The court ruled the writs had no basis as there was no prima facie proof that any of Tan's assets were obtained illegally.

The PCGG soon afterwards filed a petition to the Supreme Court.

1990

In the 1990s, Tan was president of the Lorenzo Ruiz Mission Institute Foundation (LRMFI), an organization established in 1989 and composed of Chinese-Filipino Catholics that aims to spread the Christian faith worldwide.

Others:

1991

The Presidential Commission on Good Government ("PCGG") originally filed a case against Tan in July 1987, and has since amended it twice, the last time being on September 5, 1991.

According to the PCGG, the state is entitled to PHP 50 billion in damages and PHP 1 billion in legal expenses.[4] In addition, the state was seeking to recover 60% of Tan's holdings in companies that Tan held in trust for the former president Marcos – such as Fortune Tobacco, Asia Brewery, Allied Banking Corporation, Foremost Farms, Himmel Industries, Grandspan Development Corp., Silangan Holdings, Dominium Realty and Construction Corp., and Shareholdings Inc. – as the PCGG alleges that they were illegally acquired by Marcos using government funds.

1997

In 1997, Forbes, in an article entitled "A report card on Asia", complained about the "considerable corruption still prevalent" in the Philippines, bolstering that claim by citing how Tan "single-handedly held up a tax reform intended to remove special privileges for local tobacco and beer producers."

1998

In 1998, Forbes reported that Tan was spending his free time "[j]ousting with the government over charges of tax evasion" and with Philippine Airlines "shareholders who tried to block his bid for the airline."

1999

According to the January–March 1999 edition of the Philippine Center for Investigative Journalism, Solita "Mareng Winnie" Monsod, an economics professor at the University of the Philippines and former Economic Planning Secretary, was quoted as saying that "Lucio Tan is a role model for the worst kind of conduct as far as our national objectives are concerned. He signals that you can evade taxes and get away with it, pay the courts and get the judges to decide in your favour, get good lawyers and delay your cases. The messages that are given by the kind of treatment that he gets from the Government are the antithesis of what we need for sustainable development: an even playing field and Government intervention of the right kind."

[3]

2007

On December 7, 2007, the Supreme Court affirmed the decision of the anti-graft court.

The Supreme Court found no proof that Tan, his family, or his various businesses took undue advantage of their relationship with former President Marcos.

Finding no factual basis for the sequestration of the stocks, the Supreme Court denied the PCGG's petition, according to a court statement.

2009

In an April 29, 2009, letter filed at the anti-graft court, the PCGG announced that it is "resting its case" and terminating its presentation of evidence in the PHP 51 billion lawsuit.

This, the report said, came as a surprise as government lawyers had earlier insisted in court that they still have several key witnesses, including former First Lady Imelda Marcos.

2017

In 2017, President Rodrigo Duterte accused him of owing the Philippine government around US$600 million in unpaid taxes.

After the tycoon was cleared of tax evasion, the national leader vowed to “shut up” about the issue.