Tony Tan Caktiong

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Tony Tan Caktiong
Tony Tan Cokationg & Aquino 2016 (cropped).jpg
Caktiong in January 2016
Native name 陳覺中
Born Tony Tan Caktiong
(1953-01-05) January 5, 1953 (age 65)
Davao del Sur, Philippines
Residence Manila, Philippines
Citizenship Filipino
Education Chiang Kai Shek College
Alma mater University of Santo Tomas
Occupation Businessman
Known for

Founder, and Chairman of Jollibee Foods Corporation [1]

Co-Chairman, and Director of Double Dragon Properties, Corp.[2]
Net worth US$3.3 billion (September 2018)[3]
Spouse(s) Grace A. Tan Caktiong
Children 3

Tony Tan Caktiong (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 entrepreneur. He is the founder and chairman of Jollibee Foods Corporation and the co-chairman of DoubleDragon Properties.

Early career and education[edit]

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[edit]

Jollibee Foods Corporation[edit]

Tan founded the fast food chain Jollibee in 1978, after having started it as an ice cream parlor in 1975.[4] Through expansion and acquisitions of Greenwich Pizza [4] Corp. which 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[edit]

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[edit]

  • Entrepreneur Of The Year Philippines, 2004[11]
  • Ernst and Young Entrepreneur of the Year World, 2004
  • Gawad Mabini with the rank of Commander (Dakilang Kasugo), 2016

References[edit]

  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. ^ a b "Tony Tan Caktiong & family". Forbes online. Retrieved February 2, 2018.
  4. ^ a b 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. |access-date= requires |url= (help)
  8. ^ "Philippine fast-food giant acquires China chain". Afp.google.com. 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.