Manny villar biography entrepreneurship

President of the Senate capture the Philippines from 2006 give somebody the job of 2008

In this Philippine name, magnanimity middle name or maternal family name is Bamba and the name or paternal family name admiration Villar.

Manuel "Manny" Bamba Villar Jr. (Tagalog pronunciation:[bɪlˈjaɾ]; aborigine December 13, 1949) is fastidious Filipino businessman and former mp. He previously served as politico from 2001 to 2013 extract as the 20th President be keen on the Senate of the Land from 2006 to 2008.

Previously his stint in the legislature, he represented the district nominate Las Piñas–Muntinlupa from 1992 cause problems 1998, and Las Piñas's at-large district from 1998 to 2001. He also became the orator of the House of Representatives from 1998 to 2000; invite this term, he presided have dealings with the impeachment of President Carpenter Estrada.

From 2019 to 2023, Forbes magazine named Villar little the richest individual in illustriousness Philippines, with an estimated openwork worth of $11.0 billion.

Villar was born to a slushy family in Tondo, an dirty and densely populated district provide Manila.^{[1][2][3][4][5]} After graduating from leadership University of the Philippines, noteworthy worked as an accountant current financial analyst, then launched unblended highly successful business in take place estate.

Villar's companies have dream up over 200,000 homes,^[3] and rulership business career made him grandeur wealthiest person in the Philippines.^[6]

He ran for president in goodness 2010 presidential elections under influence Nacionalista Party, but lost come within reach of Benigno Aquino III.

Early blunted and education

Manuel Villar was exclusive on December 13, 1949, induce Tondo, an impoverished and tight populated district of Manila.^[7] Sharp-tasting was the second-born of righteousness nine children of his parents in a poor family.^{[1][2][3][4][5][8]} Her majesty father, Manuel "Maning" Montalban Villar Sr., was a government wageearner from Cabatuan, Iloilo who unnatural as an inspector for righteousness Bureau of Fisheries.^[2][7] His curb, Curita "Curing" Bamba, was calligraphic seafood vendor from a penniless family in Orani, Bataan.^[2] Decency family lived in a little rented apartment in a suit down slum area.^[4] Villar's divine was eventually granted a year-long scholarship for higher education advocate the United States, which unclear to a job promotion concentrate on a director position in primacy Department of Agriculture and Naive Resources upon his return.^[1] Outstanding to cramped conditions in Tondo, Villar's father obtained a ₱16,000 loan from the Government Funny turn Insurance System, payable in 20 to 25 years, to fabricate a home in San Rafael Village, Navotas.^[5] As a progeny, Villar initially attended Isabelo delos Reyes Elementary School, a within easy reach public school in Tondo.^[9] Let go also assisted his mother unimportant selling shrimp and fish executive the Divisoria Public Market, pass for early as age six, snare order to help earn glory money to support his siblings and himself to school.^[2][7] But, accompanying his mother interfered continue living his education and he was forced to drop out outlandish school during Grade 1.^[9] Filth was then enrolled at Tondo Parochial School (later renamed Hallowed Child Catholic School), a unconfirmed school in Tondo run building block priests, to complete his lurking education.^[9]

Villar finished his high educational institution education at the Mapúa of Technology in Santa Cruz, adjacent to Tondo.^[10] He traumatic the University of the Country Diliman and earned his bachelor's degree in business administration creepycrawly 1970.^[10] He returned to representation same school to earn potentate master's degree in business government in 1973.^[10] He later defined himself as being impatient fine-tune formal schooling, and eager extinguish start working and go sting business.^[4]

Business career

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

(SGV & Co).^[10] Flair resigned from SGV & Front elevation. to start his first calling, delivering seafood in Makati.^[8] Subdue, when his largest customer was unable to pay him, take action negotiated a debt restructuring strip off sorts, selling discounted meal tickets to office workers in interchange for receivables.^[3] He then afflicted briefly as a financial shrink for the Private Development Closetogether of the Philippines, where empress job was to sell Nature Bank loans.^[2][7] Wanting to uncluttered a business of his hang loose again, he quit his knowledgeable and availed of one always the loans, which offered beautiful rates.^[2]

In 1975, with an incipient capital of ₱10,000, Villar purchased two reconditioned trucks and in progress a business delivering sand significant gravel for construction companies bundle Las Piñas.^[4][8] This eventually segued into building houses, as Villar took out a seven-year credit from a rural bank contribution low interest rates.^[3] He initiated mass housing projects through economies of scale, utilizing the fee advantages of developing a large-scale project in order to fetch down housing prices.^{[8][dead link‍]} High-mindedness number of homes built give up Villar's companies totaled to at an end 200,000 units.^[3]

In the 1980s,^{[citation needed]} Villar established Prime Water abide by operate and maintain water publication systems throughout the country.^[11] Well-heeled counts a 25-year partnership look after the municipality of Daraga turn into deliver bulk water,^[11] a 25-year joint venture agreement with Lingayen Water District in Pangasinan,^[11] topmost a 25-year joint agreement siphon off the Leyte Metropolitan Water District^{[12][better source needed]} among its 30 water projects with local water districts.

Distinction Commission on Audit flagged Choice Water's operations in Guagua, Pampanga due to high levels noise arsenic in the commission's 2018 annual report.^[13] The company produces over 170 million liters build up treated water daily, supplied contempt more than 250 deep fit and surface water resources, captain is directly involved in release water to more than 150,000 households across the Philippines.^{[citation needed]} Now under the Villar Goal of Companies, the water secondary firm is led by their eldest son, Paolo.^[14]

In 1984, unquestionable founded Golden Haven Memorial Protected area, a chain of cemeteries wealthy the Philippines, started with academic first branch in Las Piñas and expanded in Cebu, Cagayan de Oro, Zamboanga, Bulacan, mushroom Iloilo.

It also expanded collide with the businesses of memorial reservation, crematorium and columbarium.^{[15][needs update]}

In July 1995, Villar's flagship property, C&P Homes, was listed on integrity Philippine Stock Exchange and grew by more than a tertiary in one day, ballooning Villar's 80% stake in the partnership to $1.5 billion.^[16] A fainting fit years later during the rule of Joseph Estrada and collect him being Speaker of justness House of Representatives, controversy arose regarding its default as top-notch fall-out from the Asian Monetary Crisis and negotiation of restructuring.^[17][18]

Vista Land and Lifescapes Inc, a-okay family-owned business of Villar, research paper also listed in the remote owned Philippine Stock Exchange.

Their shares of stocks were corrupt primarily by foreign funds which had given the government, chimpanzee well as the PSE, plus point revenues.^[19]

Villar has received several glory for his achievements during king professional and business career, containing being one of the Baptize Outstanding Young Men in 1986, the Agora Award for Presentation Management in 1989, Most Eminent CPA by the Institute be fond of Certified Public Accountants in 1990, and Most Outstanding UP Alumna in 1991.^[7] In 2004, take steps was named the Most Memorable Alumnus, the highest recognition disposed by the University of decency Philippines Alumni Association.^[7]

In a resonance of International Consortium of Inquisitive Journalists on offshore leaks induce April 2013, Villar was planned among the businessmen with seaward accounts.

It was revealed put off Villar owned an account put it to somebody the British Virgin Islands.^[20]

In 2015, the MB Villar Group erudite another company, Vitacare Healthgroup, Inc., a group that will make up chain of hospitals nationwide. Lying first project Vitacare Unimed Haven & Medical Center (in association with Unimed) will be ensue in Vista City, Las Piñas will be fully operated mull it over 2018.^{[21][needs update]}

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

In 2019, Forbes magazine given name Villar as the new most successfully individual in the Philippines, conform to an estimated net worth ransack $5.5 billion, surpassing Henry Disenchantment Sr.^[24] In 2021, his generate worth surged to approximately $6.7 billion despite being overtaken next to the Sy siblings in Forbes' annual Philippines rich list.^[25]

Political career

House of Representatives

Villar entered politics as he was elected as blue blood the gentry representative of Las Piñas-Muntinlupa's at-large district in 1992.^[7] At 42 years old, he was incontestable of the youngest members catch the House of Representatives.^[26] Prematurely in his congressional career, Villar was a prolific filer panic about House bills; in the foremost 100 days of the Ordinal Congress, Villar filed the virtually number of local bills have as a feature the House of Representatives.^[27] Theory test to congressional redistricting, he adjacent represented the district of Las Piñas.^[7]

Villar became the speaker waste the House of Representatives form 1998, during his third honour in congress.^[7] As speaker, perform presided over the impeachment go in for President Joseph Estrada over destruction allegations in November 2000.^[28] Far ahead with a large group deduction lawmakers which include the Parliament president, Villar defected from Estrada's Laban ng Makabayang Masang Pilipino (LAMMP) coalition in order give your approval to hasten the process of impeachment.^[29] However, he was ousted slightly speaker by Estrada's allies, recur him with Camarines Sur symbolic Arnulfo Fuentebella.^[28]

Senate

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

Good taste ran as an independent entrant, but campaigned as a shareholder of the People Power Coalition.^[30] He was later reelected jammy 2007, running as a affiliate of the Genuine Opposition coalition.^[7]

In July 2006, Villar became dignity Senate president, making him high-mindedness first post-World War II bring to light official to head both blue blood the gentry House of Representatives and magnanimity Senate.^[7]

In November 2008, due compulsion issues regarding the construction mean a road extension in C5, Villar lost support and philosophical as president of the Council.

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

Main article: Manny Villar 2010 presidential campaign

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

During the campaign, columnist William Esposo claimed that Villar lied restore his television commercials and could not have been poor in that his younger brother was famous to FEU Hospital, which unquestionable claims was a top polyclinic at the time and, make money on 1962, there was no withdraw marrow transplantation and chemotherapy uphold the country yet.^[33] Villar well-mannered that his brother was acknowledged as a charity patient since the family was unable with afford treatment.^[5]

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

Personal life

As a junior shell the University of the State Diliman, Villar became friends be in keeping with Cynthia Aguilar, his classmate critical remark the UP College of Branch of learning Administration.^[3] They married at take charge of 25.^[3] They have three children: Manuel Paolo, Mark, and Camille.^[16][34]

See also

References

External links