Name:

Lucio Tan

Date of Birth:

17th July 1934

Country of Birth:

Fujian, China

Country of Residence:

Philippines

Source of Wealth:

Diversified

Marrital Status:

Married

Children:

6

Lucio Tan Net Worth USD: $2,090,000,000 - $2,315,000,000

2020 Mean Estimate USD:

$2,200,000,000

Lucio Tan Biography

Lucio Tan was born in Xiamen (formerly Amoy) in Fujian China. When he was still a child, his family emigrated to the Philippines, settling in Cebu. Though poor, he went to Far East University and studied chemical engineering. To pay his way through university he worked as a janitor in a tobacco factory.

In 1982 Lucio Tan founded what was to become the LT Group. It started as a brewery, the Asia Brewery, becoming the first to challenge the dominant market leader San Miguel. Today Asia Brewery is a subsidiary of the LT group, which also has interests in sprits, and away from alcohol, tobacco, property development and banking.

The president of the Philippines, Rodrigo Duterte, accused Tan in 2017 of owing almost $600 million unpaid taxes.