Tony Tan Caktiong

Tony Tan Caktiong, CM (simplified Chinese: 陈觉中; traditional Chinese: 陳覺中; pinyin: Chén Juézhōng; Pe̍h-ōe-jī: Tân Kak-tiong; born January 5, 1953) is a Filipino billionaire businessman. He is the founder and chairman of Jollibee Foods Corporation, and the co-chairman of DoubleDragon Properties.

In this Chinese name, the family name is Tan.
Tony Tan Caktiong

CM
陳覺中
Caktiong in 2016
Born
Tony Tan Caktiong

(1953-01-05) January 5, 1953
Davao del Sur, Philippines
NationalityFilipino
EducationUniversity of Santo Tomas
OccupationBusinessman
Known forFounder and chairman of Jollibee Foods Corporation [1]
Co-chairman of Double Dragon Properties, Corp.[2]
Net worthUS$1.9 billion (May 2020)[3]
Spouse(s)Grace A. Tan Caktiong
Children3

Early career and education

Tan was born to Chinese immigrant parents from Fujian. He attended high school at Chiang Kai Shek College and graduated from the University of Santo Tomas with a degree in chemical engineering. Tan had initially planned an ice cream parlor when he founded Jollibee, then added dishes such as hamburgers, french fries, and fried chicken.

Career

Jollibee Foods Corporation

Tan founded the fast food chain Jollibee in 1978, after having started it as an ice cream parlor in 1975.[4] Expansion and acquisition of Greenwich Pizza Corp.[4] 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.[5][6][7][8] As of August 2008, Tan's Jollibee has a total of 1,480 stores worldwide including Jollibee, Red Ribbon, Chowking, Greenwich, Manong Pepe's and Mang Inasal.[9]

As of November 2015, Forbes estimated his net worth at US$4.1 billion.[3]

DoubleDragon Properties

In 2012, Tan, through his holding company, Honeystar Holdings Corporation, invested in Injap Land Corporation, a property company founded by Edgar Sia II. With Tan's entry, the company was renamed DoubleDragon Properties Corporation.[10]

Awards

References
  1. "Tony Tan Caktiong: Executive Profile & Biography". Bloomberg webpage. Retrieved June 15, 2018.
  2. "Board of Directors". Double Dragon Properties, Corp. webpage. Retrieved June 15, 2018.
  3. "Forbes profile: Tony Tan Caktiong & family". Forbes. Retrieved 21 May 2020.
  4. Go, Josiah (2001). Fundamentals of Marketing: In The Philippine Setting. Quezon City, Philippines: Design Plus. pp. 1–2. ISBN 971-91860-5-4.
  5. Ordinario, Cai U. (2006-01-18). "Jollibee Foods buys out partner in Greenwich Pizza". BUSINESS. The Manila Times Internet Edition. Archived from the original on 2007-06-21. Retrieved 2007-03-12.
  6. "Restaurant chain trains staff, bags corporate social responsibility award". Cebu. Sun.Star Publishing, Inc.
  7. Arcibal, Cheryl M. "Jollibee group buys out partner in Delifrance". BUSINESS. The Manila Times Internet Edition ss/20061111bus4.html.
  8. "Philippine fast-food giant acquires China chain". 2007-09-20. Archived from the original on 2013-06-25. Retrieved 2013-09-14.
  9. "Jollibee to acquire entire stake in China-based restaurant". GMA News. 2008-08-26. Retrieved 2013-09-14.
  10. "Jollibee owner ventures into property dev't". Philippine Daily Inquirer. 2012-08-27. Retrieved 2017-09-12.
  11. Food industry giant founder is Philippines' first Entrepreneur Of The Year Archived February 20, 2007, at the Wayback Machine
  12. Pata, Danny (15 February 2018). "UST confers honoris business degree to Jollibee founder". GMA News. Retrieved 21 November 2019.
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