4 Filipino leaders in philanthropy

March 31, 2009

via New America Media and FilAm Star

Forbes Magazine Honors Four Filipino Tycoons for Philanthropy

Forbes Magazine, one of the world’s most respected business publications, recently honored four of the Philippines’ captains of industry in its prestigious Asia Pacific Region Philanthropy list.

Named to the elite list in Forbes’ March 16 issue were retail mogul Henry Sy, telecommunications tycoon Manuel Pangilinan, banking and insurance magnate Alfonso Yuchengco Sr., and industrialist Jon Ramon Aboitiz.

The four Filipino billionaires were among the 48 top regional philanthropists, who “opened their checkbooks” to help others despite the global financial crunch buffeting business fortunes all over Asia and the rest of the world.

The 84-year-old Sy, who parlayed his SM chain of shopping malls to become the Philippines’ wealthiest man, was cited for the charitable work of the SM Foundation which Sy created as the main vehicle of his philanthropy.

SM Foundation maintains a full-time staff of 20 and focuses on health, education and spiritual well-being of its beneficiaries. It runs modern health clinics near SM malls, and supports pediatric wards and hospices. …

Pangilinan, 62, is the one of the most generous patrons of Philippine sports. Known by his initials MVP, he supports a wide range of sports that include basketball, badminton and boxing. He has funded the overseas training for national basketball youth teams.

Forbes Magazine said Pangilinan donated funds for the construction at the Ateneo de Manila University, of the Manuel V. Pangilinan Center for Student Leadership, which was completed in 2006. …

Yuchengco, 85, is chairman of the Yuchengco Group, a conglomerate anchored Rizal Commercial Banking Corp. and by insurance interests.

As chairman of a foundation bearing his name, Yuchengco channels substantial funds to support health, nutrition and education programs. …

In 1983, Yuchengco co-founded the Mother Teresa Award, which annually awards
P1 million ($25,000) to an individual dedicated to serving the poorest of the poor, according to Forbes. …

According to Forbes, Jon Ramon and his brothers Roberto and Mikel are the most active family members in the Ramon Aboitiz Foundation, which started as a traditional charity in 1966.

Read the full article for more about how these leaders are making a valuable contribution to society through their generosity.

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