Bloomberg Billionaires Index

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#370 Jon Ramon Aboitiz $4.90B

Random fact: Says people from Cebu work hard and reinvest more.

Overview

Aboitiz is the chairman and largest individual shareholder of Aboitiz Equity Ventures, a conglomerate with revenue of 116 billion pesos ($2.5 billion) in 2016. The Cebu City, Philippines-based business has interests in power generation and distribution, banking, land and infrastructure. It's the investment arm of the family-owned Aboitiz & Company.

As of July 26, 2017:
Last change +$42.9M (+0.9%)
YTD change +$207M (+4.4%)
Industry Industrial
Biggest asset AEV PM Equity
Citizenship Philippines
Age 69
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Jon Ramon Aboitiz's net worth of $4.90B can buy ...

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of the total wealth of the 500 richest people in the world
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

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Confidence rating:

The majority of Aboitiz's fortune is derived from his stake in Aboitiz Equity Ventures, the investment arm of the Aboitiz Group that has interests in power, banking and financial services. The company had revenue of 116 billion pesos ($2.5 billion) in 2016, according to its website. Aboitiz owns 51 percent of the company directly and through family holding company, Aboitiz & Company, according to a July 2017 filing to the Philippines Stock Exchange. He's credited with shares held through the holding company to reflect his status as chairman and patriarch of the family.

Aboitiz also has stakes in Aboitiz Equity Ventures subsidiaries Aboitiz Power, which owns and operates power generation plants, distribution utilities and retail electricty suppliers in the Philippines, as well as Union Bank of the Philippines.

The value of his cash investments is based on an analysis of share sales, dividends, market performance, taxes and charitable contributions.

Manual Lozano, a spokesperson at Aboitiz Equity Ventures, declined to comment on Aboitiz's net worth.

Biography

Birthdate: 4/26/1948
Family: Married, 3 children
Education: 1970, Santa Clara University, Commerce, Bachelor's Degree

Jon Ramon Aboitiz was born in Manila on April 26, 1948. He obtained a Bachelor of Science degree in Management from Santa Clara University in California.

His family's holding company, Aboitiz & Company, was founded in the late 1800s by Paulino Aboitiz, Jon Ramon's great-grandfather, who came over to the Philippines from the Basque Country in Spain. The company began as a hemp trading business before growing and evolving into a diversified conglomerate in the twentieth century under Paulino's descendants.

Aboitiz & Company took Aboitiz Equity Ventures public in 1994, making it the holding company for its range of businesses, including energy, finance and food. Jon Ramon became the chief executive of the Philippine Stock Exchange-listed company the same year and served for 15 years, stepping down in 2009. He is now the chairman of both Aboitiz & Company and Aboitiz Equity Ventures, while cousin Erramon is the chief executive officer of Aboitiz Equity Ventures.

Milestones
  • 1905 The Aboitiz Group enters the power business.
  • 1994 Aboitiz Equity Ventures is listed on the Philippine Stock Exchange.
  • 1994 Becomes chief executive of Aboitiz Equity Ventures.
  • 2007 Aboitiz Power goes public on the Philippine Stock Exchange.
  • 2009 Steps down as chief executive of Aboitiz Equity Ventures.
  • 2014 AEV's food subsidiary acquires aquafeed company in Vietnam.
  • 2014 AEV joint venture Aseagas starts construction on Asia's biggest biogas plant.
  • 2015 Aboitiz Power expands into Indonesia, its first overseas venture.