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 1953) is a Filipino businessman and investor. He is the founder and chairman of Jollibee Foods Corporation, and the co-chairman of DoubleDragon Properties. Forbes listed him as the fifth richest person in the Philippines in 2023, with the estimated net worth of USD$3.2 billion.[4]

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

CM
陳覺中
Tan Caktiong in 2016
Born
Tony Tan Caktiong

1953 (age 69–70)[1]
EducationUniversity of Santo Tomas (BS)
Occupation(s)Businessman, investor
Known forFounder and chairman of Jollibee Foods Corporation[2]
Co-chairman of Double Dragon Properties, Corp.[3]
SpouseGrace A. Tan Caktiong
Children3
Chinese name
Traditional Chinese陳覺中
Simplified Chinese陈觉中

Early career and education

Tan Caktiong was born to Chinese immigrant parents from Fujian. His father worked in a restaurant in China and as a cook in a Buddhist monastery in Manila before setting up his own restaurant in Davao City.[5] Tony Tan Caktiong attended high school at Chiang Kai Shek College and graduated from the University of Santo Tomas with a degree in chemical engineering in 1975.[6] Tan had initially planned his fledgling nascent company to be an ice cream parlor when he founded Jollibee, and then added dishes such as hamburgers, french fries, and fried chicken.

Career

Jollibee Foods Corporation

Tan Caktiong founded the fast food chain Jollibee in 1978, after having started it as an ice cream parlor in 1975.[7] Expansion and acquisition of Greenwich Pizza Corp.[7] 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.[8][9][10][11]

Jollibee at Rizal

As of August 2008, Tan Caktiong's Jollibee has a total of 1,480 stores worldwide including Jollibee, Red Ribbon, Chowking, Greenwich, Manong Pepe's and Mang Inasal.[12]

DoubleDragon Properties

In 2012, Tan Caktiong, through his holding company, Honeystar Holdings Corporation, invested in Injap Land Corporation, a property company founded by Edgar Sia II. With Tan Caktiong's entry, the company was renamed DoubleDragon Properties Corporation.[13]

Personal life

Tan Caktiong is married to Grace Tan Caktiong.[14] He is also the brother of Ernesto Tanmantiong, who is the President and CEO of Jollibee Foods Corporation.[15]

Awards

See also

References
  1. Dumlao, Doris (August 27, 2012). "Jollibee owner ventures into property dev't". Philippine Daily Inquirer. Retrieved September 11, 2022.
  2. "Tony Tan Caktiong: Executive Profile & Biography". Bloomberg webpage. Retrieved June 15, 2018.
  3. "Board of Directors". Double Dragon Properties, Corp. webpage. Retrieved June 15, 2018.
  4. HO", "JANE. "Philippines' 50 Richest 2023". Forbes. Retrieved August 28, 2023.
  5. "How fried chicken made Jollibee founder Tony Tan Caktiong a billionaire". South China Morning Post. July 8, 2020. Retrieved September 24, 2022.
  6. Dumlao-Abadilla, Doris (June 3, 2018). "'Dragons' reshaping PH". Philippine Daily Inquirer. Retrieved September 11, 2022.
  7. Go, Josiah (2001). Fundamentals of Marketing: In The Philippine Setting. Quezon City, Philippines: Design Plus. pp. 1–2. ISBN 971-91860-5-4.
  8. Ordinario, Cai U. (January 18, 2006). "Jollibee Foods buys out partner in Greenwich Pizza". BUSINESS. The Manila Times Internet Edition. Archived from the original on June 21, 2007. Retrieved March 12, 2007.
  9. "Restaurant chain trains staff, bags corporate social responsibility award". Cebu. Sun.Star Publishing, Inc.
  10. Arcibal, Cheryl M. "Jollibee group buys out partner in Delifrance". BUSINESS. The Manila Times Internet Edition ss/20061111bus4.html.
  11. "Philippine fast-food giant acquires China chain". September 20, 2007. Archived from the original on June 25, 2013. Retrieved September 14, 2013.
  12. "Jollibee to acquire entire stake in China-based restaurant". GMA News. August 26, 2008. Retrieved September 14, 2013.
  13. "Jollibee owner ventures into property dev't". Philippine Daily Inquirer. August 27, 2012. Retrieved September 12, 2017.
  14. Venzon, Cliff (August 22, 2018). "How Jollibee's founder is building a fast-food empire". Nikkei Asia. Retrieved July 3, 2022.
  15. Flores, Wilson Lee (October 27, 2019). "Jollibee CEO courted future wife with 88 letters in 8 years while dreaming big". The Philippine Star. Retrieved July 3, 2022.
  16. Food industry giant founder is Philippines' first Entrepreneur Of The Year Archived February 20, 2007, at the Wayback Machine
  17. Pata, Danny (February 15, 2018). "UST confers honoris business degree to Jollibee founder". GMA News. Retrieved November 21, 2019.
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