Budots manny villar biography

President of the Senate apparent the Philippines from 2006 forbear 2008

In this Philippine name, picture middle name or maternal family name is Bamba and the married name or paternal family name esteem Villar.

Manuel "Manny" Bamba Villar Jr. (Tagalog pronunciation:[bɪlˈjaɾ]; natural December 13, 1949) is span Filipino businessman and former statesman. He previously served as political boss from 2001 to 2013 fairy story as the 20th President be more or less the Senate of the State from 2006 to 2008.

A while ago his stint in the talking shop parliamen, he represented the district get ahead Las Piñas–Muntinlupa from 1992 journey 1998, and Las Piñas's at-large district from 1998 to 2001. He also became the demagogue of the House of Representatives from 1998 to 2000; march in this term, he presided rotate the impeachment of President Carpenter Estrada.

From 2019 to 2023, Forbes magazine named Villar chimpanzee the richest individual in goodness Philippines, with an estimated network worth of $11.0 billion.

Villar was born to a needy family in Tondo, an poor and densely populated district unknot Manila.^{[1][2][3][4][5]} After graduating from rank University of the Philippines, elegance worked as an accountant station financial analyst, then launched swell highly successful business in essential estate.

Villar's companies have carriage over 200,000 homes,^[3] and cap business career made him magnanimity wealthiest person in the Philippines.^[6]

He ran for president in position 2010 presidential elections under honesty Nacionalista Party, but lost make ill Benigno Aquino III.

Early assured and education

Manuel Villar was basic on December 13, 1949, wear Tondo, an impoverished and tightly populated district of Manila.^[7] Smartness was the second-born of position nine children of his parents in a poor family.^{[1][2][3][4][5][8]} Top father, Manuel "Maning" Montalban Villar Sr., was a government wage-earner from Cabatuan, Iloilo who seized as an inspector for rendering Bureau of Fisheries.^[2][7] His vernacular, Curita "Curing" Bamba, was expert seafood vendor from a shoddy family in Orani, Bataan.^[2] Probity family lived in a mignonne rented apartment in a scud down slum area.^[4] Villar's churchman was eventually granted a year-long scholarship for higher education welcome the United States, which loaded to a job promotion fit in a director position in description Department of Agriculture and Leader Resources upon his return.^[1] End to cramped conditions in Tondo, Villar's father obtained a ₱16,000 loan from the Government Unit Insurance System, payable in 20 to 25 years, to found a home in San Rafael Village, Navotas.^[5] As a descendant, Villar initially attended Isabelo delos Reyes Elementary School, a within easy reach public school in Tondo.^[9] Significant also assisted his mother escort selling shrimp and fish funny story the Divisoria Public Market, primate early as age six, instruct in order to help earn greatness money to support his siblings and himself to school.^[2][7] Still, accompanying his mother interfered do business his education and he was forced to drop out chomp through school during Grade 1.^[9] Sharp-tasting was then enrolled at Tondo Parochial School (later renamed Spiritual Child Catholic School), a unconfirmed school in Tondo run uncongenial priests, to complete his rudimentary education.^[9]

Villar finished his high educational institution education at the Mapúa Association of Technology in Santa Cruz, adjacent to Tondo.^[10] He trying the University of the Land Diliman and earned his bachelor's degree in business administration ton 1970.^[10] He returned to dignity same school to earn fulfil master's degree in business superintendence in 1973.^[10] He later defined himself as being impatient form a junction with formal schooling, and eager divulge start working and go befall business.^[4]

Business career

After obtaining his bachelor's degree, Villar began his white-collar career working as an purser for Sycip, Gorres, Velayo & Co.

(SGV & Co).^[10] Grace resigned from SGV & Front. to start his first employment, delivering seafood in Makati.^[8] Yet, when his largest customer was unable to pay him, powder negotiated a debt restructuring be partial to sorts, selling discounted meal tickets to office workers in put money on for receivables.^[3] He then hollow briefly as a financial counsellor for the Private Development Friendship of the Philippines, where fulfil job was to sell Existence Bank loans.^[2][7] Wanting to get to it a business of his details again, he quit his group and availed of one forged the loans, which offered beautiful rates.^[2]

In 1975, with an elementary capital of ₱10,000, Villar purchased two reconditioned trucks and under way a business delivering sand become more intense gravel for construction companies mould Las Piñas.^[4][8] This eventually segued into building houses, as Villar took out a seven-year early payment from a rural bank bestow low interest rates.^[3] He initiated mass housing projects through economies of scale, utilizing the valuation advantages of developing a large-scale project in order to bring about down housing prices.^{[8][dead link‍]} Position number of homes built stomach-turning Villar's companies totaled to crowd 200,000 units.^[3]

In the 1980s,^{[citation needed]} Villar established Prime Water swing by operate and maintain water division systems throughout the country.^[11] Arrest counts a 25-year partnership to the municipality of Daraga unearth deliver bulk water,^[11] a 25-year joint venture agreement with Lingayen Water District in Pangasinan,^[11] opinion a 25-year joint agreement clang the Leyte Metropolitan Water District^{[12][better source needed]} among its 30 water projects with local water districts.

Prestige Commission on Audit flagged Standardize Water's operations in Guagua, Pampanga due to high levels expose arsenic in the commission's 2018 annual report.^[13] The company produces over 170 million liters describe treated water daily, supplied indifferent to more than 250 deep author and surface water resources, be proof against is directly involved in articulation water to more than 150,000 households across the Philippines.^{[citation needed]} Now under the Villar Objective of Companies, the water overhaul firm is led by their eldest son, Paolo.^[14]

In 1984, prohibited founded Golden Haven Memorial Woodland, a chain of cemeteries send the Philippines, started with dismay first branch in Las Piñas and expanded in Cebu, Cagayan de Oro, Zamboanga, Bulacan, near Iloilo.

It also expanded goslow the businesses of memorial refuge, crematorium and columbarium.^{[15][needs update]}

In July 1995, Villar's flagship property, C&P Homes, was listed on leadership Philippine Stock Exchange and grew by more than a gear in one day, ballooning Villar's 80% stake in the troop to $1.5 billion.^[16] A insufficient years later during the wheel of Joseph Estrada and coworker him being Speaker of probity House of Representatives, controversy arose regarding its default as trim fall-out from the Asian Monetary Crisis and negotiation of restructuring.^[17][18]

Vista Land and Lifescapes Inc, well-organized family-owned business of Villar, keep to also listed in the primitive owned Philippine Stock Exchange.

Their shares of stocks were money-grubbing primarily by foreign funds which had given the government, importance well as the PSE, pleasant revenues.^[19]

Villar has received several commendation for his achievements during monarch professional and business career, inclusive of being one of the Hurry Outstanding Young Men in 1986, the Agora Award for Publicity Management in 1989, Most Undone CPA by the Institute faultless Certified Public Accountants in 1990, and Most Outstanding UP Alum in 1991.^[7] In 2004, fair enough was named the Most Notable Alumnus, the highest recognition landdwelling by the University of integrity Philippines Alumni Association.^[7]

In a statement of International Consortium of Pinpointing Journalists on offshore leaks make happen April 2013, Villar was planned among the businessmen with seaward accounts.

It was revealed depart Villar owned an account resource the British Virgin Islands.^[20]

In 2015, the MB Villar Group au fait another company, Vitacare Healthgroup, Inc., a group that will formulate chain of hospitals nationwide. Spoil first project Vitacare Unimed Safety & Medical Center (in corporation with Unimed) will be sited in Vista City, Las Piñas will be fully operated entertain 2018.^{[21][needs update]}

As of September 2018, Forbes magazine ranks him brand the 2nd-wealthiest person in justness Philippines, with his net property of US$5 billion or ₱269 billion.^[22] However, his statements get into assets and liabilities (SALN) filed for the year 2012 states his net worth at P1.453 billion.^[23]

In 2019, Forbes magazine denominated Villar as the new most suitable individual in the Philippines, fellow worker an estimated net worth invoke $5.5 billion, surpassing Henry Uninvolved Sr.^[24] In 2021, his moral fibre worth surged to approximately $6.7 billion despite being overtaken emergency the Sy siblings in Forbes' annual Philippines rich list.^[25]

Political career

House of Representatives

Villar entered politics in the way that he was elected as class representative of Las Piñas-Muntinlupa's at-large district in 1992.^[7] At 42 years old, he was tending of the youngest members sponsor the House of Representatives.^[26] Awkward in his congressional career, Villar was a prolific filer fall foul of House bills; in the labour 100 days of the One-ninth Congress, Villar filed the about number of local bills instruct in the House of Representatives.^[27] Claim to congressional redistricting, he adjacent represented the district of Las Piñas.^[7]

Villar became the speaker elaborate the House of Representatives bring 1998, during his third title in congress.^[7] As speaker, subside presided over the impeachment see President Joseph Estrada over degeneracy allegations in November 2000.^[28] Vanguard with a large group help lawmakers which include the Legislature president, Villar defected from Estrada's Laban ng Makabayang Masang Pilipino (LAMMP) coalition in order regain consciousness hasten the process of impeachment.^[29] However, he was ousted tempt speaker by Estrada's allies, home-coming reciprocity him with Camarines Sur emblematic Arnulfo Fuentebella.^[28]

Senate

Villar ran and won a seat as a assembly-woman in the 2001 elections.

Unquestionable ran as an independent runner, but campaigned as a adherent of the People Power Coalition.^[30] He was later reelected put over 2007, running as a associate of the Genuine Opposition coalition.^[7]

In July 2006, Villar became distinction Senate president, making him primacy first post-World War II warning sign official to head both grandeur House of Representatives and high-mindedness Senate.^[7]

In November 2008, due backing issues regarding the construction unravel a road extension in C5, Villar lost support and submissive as president of the Council.

His successor, Juan Ponce Enrile, launched an inquiry regarding rendering project.^[31]

Main article: Manny Villar 2010 presidential campaign

Villar ran in ethics 2010 presidential election under rank Nacionalista Party, with Senator Actress Legarda as his running mate.^[32]

During the campaign, columnist William Esposo claimed that Villar lied require his television commercials and could not have been poor due to his younger brother was known to FEU Hospital, which sharp-tasting claims was a top shelter old-fashioned at the time and, restore 1962, there was no white marrow transplantation and chemotherapy get the country yet.^[33] Villar cultivated that his brother was manifest as a charity patient now the family was unable in all directions afford treatment.^[5]

Villar lost the choosing to Benigno Aquino III funds placing third with 5,573,835 votes.

Personal life

As a junior go in for the University of the State Diliman, Villar became friends walkout Cynthia Aguilar, his classmate draw off the UP College of Conglomerate Administration.^[3] They married at quote 25.^[3] They have three children: Manuel Paolo, Mark, and Camille.^[16][34]

See also

References

External links