Bloomberg Billionaires Index

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#538 David Consunji $3.61B

Random fact: Began by building chicken coops for the Bureau of Animal Industry.

Overview

Consunji is the founder of DMCI Holdings, a publicly traded construction company in the Philippines. The Makati City-based company reported revenue of $1.3 billion in 2016 and built properties for companies controlled by billionaires Henry Sy and Robert Kuok. He also has a stake in Semirara Mining and Power, the country's top coal producer.

As of June 25, 2017:
Last change +$29.4M (+0.8%)
YTD change +$470M (+14.9%)
Industry Diversified
Biggest asset DMC PM Equity
Citizenship Philippines
Age 95
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

David Consunji's net worth of $3.61B can buy ...

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of the total wealth of the 500 richest people in the world
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of U.S. existing home sales
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Latest News

Net Worth Summary

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Private asset
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Confidence rating:

The majority of Consunji's wealth is derived from his 71 percent stake in DMCI Holdings. The construction company reported revenue of $1.3 billion in 2016 and built properties for companies controlled by billionaires Henry Sy and Robert Kuok. The billionaire and his family own the shares directly, through family members and through two holding companies, Dacon and DFC Holdings, according to an April 2017 filing with the Philippine Stock Exchange. He's credited with the fortune because he founded the business in 1954.

Consunji also owns 13 percent of Semirara Mining directly, through family members and through Dacon, and controls almost 5 percent of Atlas Consolidated Mining that's held by his son, Isidiro Consunji, who's president of DMCI.

Aldric Borlaza, senior finance officer at DMCI Holdings, confirmed Consunji's holdings and said the billionaire declined to provide information on other assets he owns.

Biography

Birthdate: 11/1921
Family: Married, 8 children
Education: 1993, Doctorate Degree, Law, University of The Philippines 12/1946, Bachelor's Degree, University of The Philippines

David Consunji learned about the basics of construction as a concrete inspector. After getting a civil engineering degree from the University of the Philippines, he set up D.M. Consunji in Manila, and built chicken coops for the Bureau of Animal Industry in 1954, according to his company's website.

He went on to build homes, manufacturing plants, offices and hotels, including Shangri-La Asia's hotels in Cebu, Makati City and Boracay in the Philippines. DMCI put up almost half of the buildings in the Makati central business district over several decades, MoneySense reported in March 2013.

Consunji, who served as secretary of the Department of Public Works, Transportation and Communications from 1971 to 1975, later ventured into real estate, power generation, water distribution, as well as nickel and coal mining. He stepped down as chairman of DMCI Holdings, the family's holding company that began trading on the Philippine Stock Exchange in 1995, in November 2014. His eldest son, Isidro Consunji, took over his role.

Milestones
  • 1921 David Consunji is born in the Philippines.
  • 1954 Starts D.M. Consunji in a small room in Manila.
  • 1971 Becomes secretary of public works, transportation and communications.
  • 1995 DMCI begins trading on the Philippine Stock Exchange.
  • 1997 Ventures into coal, real estate, steel fabrication and water utilities.
  • 2000 Starts residential development division.
  • 2011 Wins contract to build billionaire Enrique Razon's Solaire Resort & Casino.
  • 2014 Stepped down as chairman of DMCI Holdings.