Jose Cojuangco
Encyclopedia
Jose Chichioco Cojuangco (July 3, 1896 - August 21, 1976) was a former Representative of the 1st district of Tarlac
in the Philippines
. He served from 1934 to 1946. Cojuangco is one of the patriarchs of the Cojuangco
clan. He was the father of former Philippines President Corazon Aquino
and the grandfather of current Philippines President Noynoy Aquino. His other grandchildren include actresses Kris Aquino
and Mikee Cojuangco.
and in Gapan, Nueva Ecija. Melecio's mother was Antera Estrella of Gapan, Nueva Ecija, a daughter of Felipe Estrella, a Spaniard and Martina Calub Cruz, a local woman. (With the Estrella connection, the Cojuangcos gained their initial foothold in Nueva Ecija, which explains why Barangay Cojuangco exists in nearby Santa Rosa, Nueva Ecija
and which partly explains how the Cojuangcos eventually owned Hacienda Bakal in Talavera, Nueva Ecija
).
Melecio's wife was a Chinese mestiza
, Doña Tecla Chichioco of Malolos and Hagonoy, Bulacan
.
Melecio's siblings include elder sister Ysidra Cojuangco y Estrella who massively enlarged the already considerable Cojuangco fortune by buying land and dabbling in sugar mills and real estate; and younger sister Trinidad Cojuangco y Estrella, who died a spinster.
Among the four male heirs of the Cojuangcos, Don Pepe, as he is remembered, was the only one born in Malolos, Bulacan
, where his father built the secret stairway in Barasoain Church
used by the Spanish friars to smuggle women into their private quarters. The old Cojuangco-Chichioco mansion still stands a few meters from the Barasoain Church on land inherited by Tecla from her Chichioco merchant father. It is maintained for the Cojuangcos by their Chichioco relatives. The physical address used to be known as #540 Paseo del Congreso but the locals called it Calle de las Mestizas (street of the Mixed Filipinas) on account of the numerous women who lived there, daughters of the friars nearby. After World War II, the name was changed to Santo Niño Street, Mestizohin District.
province and sister to Lorenzo Sumulong
, also a Philippine senator. Their law offices were located within Manila's Plaza Cervantes where Metring used to serve as legal assistant. Demetria was also related to Senator Ceferino de Leon of San Miguel de Mayumo, Bulacan
(Senator De Leon's daughter was Philippine Carnival Queen Trinidad Roura de Leon, wife of President Manuel Roxas
y Acuña, whose grandson Mar Roxas
would be Demetria's grandson Noynoy Aquino's vice president running mate.) Family lore has it that Don Pepe's Chinese grandfather insisted his eldest grandson to marry Metring since she had a mole under her nose, which would bring Pepe wealth beyond compare during his lifetime. The most obedient of the four boys, Don Pepe did not object to the marriage.
The couple had eight children:
Cojuangco was the founder of Mantrade Philippines, the Bank of Commerce
, First United Bank
, and the Pantranco bus company.
mansion (built in 1933 the year Cory Aquino was born) along Agno Street (near De La Salle University
), Malate
, Manila for the safety of Antipolo
, Rizal
(political bailiwick of his wife's relatives). Meanwhile, his aunt Ysidra and brother Eduardo fled to Baguio city where they thought the Japanese would not go and where there were large Cojuangco apartments. (Eduardo Sr's mother-in-law Gregoria Beley Murphy was in Baguio as well.) His relative Antonio stayed behind due to his son's fever.
While Ysidra Cojuangco y Estrella and her nephews and their families sought shelter at the Baguio cathedral
during the bombardments, the Antonio Cojuangcos were trapped in the De La Salle University
chapel where they were massacred by the desperate Japanese. Only two survived, including Ramon or "Monching" (whose second wife would later be Imelda Ongsiako Cojuangco. His young first wife Natividad "Nene" de las Alas, sister of Pacita "Ching" (the wife of Sergio Montinola), Lourdes "Lily" (wife of Senator Ambrosio Padilla
and arch-enemy of another beautiful senator's wife, Imelda Marcos
) and Carmencita "Menchu" (wife of Raul Concepcion of RFM Corporation ) was also hacked to death) and Lourdes or "Lulu" who was saved when the bayonet hit the baby (Monching's firstborn) she was carrying instead. She would be the wife of Luis Tirso Rivilla of the Ormoc Sugar Central later on...
As the eldest male Cojuangco, Pepe felt partly to blame for the near decimation of the Antonio Cojuangco branch. From that day on, Cojuangco and his relatives never lived in Malate
ever again. He sent Monching, Lulu and his own children to the United States for their studies. (Ravenhill Academy, College of Mount Saint Vincent
, et al.). He cared for Antonio's children as if they were his own.
In 1953, Cojuangco's youngest brother, Endeng (Danding Cojuangco's father) was sick and needed treatment in the United States. At that time, dollars was strictly regulated. Don Pepe's wife and holder of the entire clan's purse, Doña Metring (Cory Aquino's mother) was unable to obtain the necessary funds to facilitate the young Endeng Cojuangco's medical expenses. Danding's father later died of kidney failure. Also in 1953, President Ramon Magsaysay
offered to sell Hacienda Luisita
to Don Pepe, as the Hukbalahap
rebels caused much fear and the Spanish owners, the Tabacalera
, wanted to sell. (President Magsaysay was avoiding the wealthier hacenderos from Negros island and Iloilo
, specifically the brothers Fernando Lopez
and Eugenio Lopez
, from owning too much as they already purchased the PASUMIL consortium in Del Carmen, Pampanga
.) Negotiations started but President Magsaysay died when his airplane crashed on Mount Manunggal in Cebu
. The deal was closed five years later in President Carlos Garcia
y Polistico's term who was a close ally of then Senator Ferdinand Marcos
y Edralin.
In early 1958 Cojuangco purchased the Hacienda Luisita
, the second biggest contiguous piece of property in Luzon
island. This time, he was able to secure American dollars required by the Tabacalera
. Unlike before, he called on his friend, Philippine Central Bank governor Miguel Cuaderno to help him. It must be noted that the hacienda is separate from the lands his aunt Doña Ysidra Cojuangco y Estrella assembled in the past decades. He and his son-in-law, Ninoy (Benigno Aquino Jr), introduced strong social programs favoring the farmers of the hacienda.
While Don Pepe was genuinely loved by the farmers under his management (free healthcare, free schooling, adult education, veterinary medicines for the farm animals), designated areas for employee housing), the stark treatment concerning the dollars relating to Endeng's survival and his subsequent death versus the grand business move Cojuangco made in purchasing Hacienda Luisita
added insult to injury to Doña Nene and her now fatherless six children (Eduardo, Mercedes, Aurora, Isabel, Enrique and Manuel). Besides the opposing views in politics and the abandonment of the Antonio Cojuangcos in Manila during the war, the situation concerning his younger brother's death would eventually cause for a collision course between Cojuangco's and Endeng Lalake's heirs.
was the preferred intermediary/ local bank of American companies in Manila
. He then divested from Bank of Commerce
less than a month before the stockholder's meeting to avoid the embarrassing situation of being unseated by his brother Itoy, his nephew Danding and his other nephew Monching, who wanted greater influence in the bank. Afterwards, he opened First United Bank
. With perseverance First United became a major bank under his helm.
Due to the geographical proximity of his Hacienda Luisita
and the Paniqui Sugar Mills which he managed on behalf of the entire family, there were times when more than 90% of all raw sugar milled in central Luzon
were processed through Cojuangco-owned companies. The Cojuangco family owned so much land in Central Luzon
that they could dictate the price of rice and non-Visayan sugar.
position and sold all his shares to avoid a boardroom coup by the other branches of the Cojuangco family. This was particularly sentimental for Don Pepe, as he was the one who founded Bank of Commerce and nurtured it from bankruptcy. It was also the one company where he insisted that all four families of the Cojuangco co-own, not knowing that the same generosity will swallow him in his twilight years.
Meanwhile, his bus company was coerced to file for bankruptcy after the Marcos-led administration refused to allow rate hikes even when market forces deemed an increase in bus fares. The same happened to Mantrade. Unable to expand his businesses due to political pressures, in 1975, he sold his First United Bank
. The buyer was the Marcos-led Philippine Government who incorporated it in what is now known as the United Coconut Planters Bank
.
He represented Tarlac in the same way that his father Don Melecio Cojuangco did as the first ever representative of Tarlac in the First Philippine Legislature of 1907-1909. (Don Melecio's political career was cut short when he suffered a fatal heart attack in the Urdaneta-Manila train while defending his sons Jose (Pepe) and Juan (Itoy) from American soldiers wanting to sidestep the youngsters from their seats. Mauricio Ilagan served the remaining 4 years (till 1912) of his term).
While in Congress, Don Pepe was one of two representing the province of Tarlac. The other one was Benigno Aquino, Sr y Quiambao, whose son from his second marriage, Ninoy Aquino became the husband to Don Pepe's daughter, Cory Aquino. In essence, the current Philippine President Noynoy Aquino's paternal and maternal grandfathers sat side by side for Tarlac from 1935–1938 and again from 1941-1946.
Don Pepe Cojuangco retired from politics after World War II and thus avoided a clash with his younger brother, Eduardo Sr. or Endeng Lalake, the charismatic governor of Tarlac province. When he quit politics, his personal wealth was preserved unlike his good friend and future in-law Benigno Aquino, Sr's, whose lands and cash holdings decreased dramatically by using it for social welfare programs in their home province.
He died during the darkest days of the Jose Cojuangcos. All of his businesses were under extreme scrutiny by the Marcoses.
Many banks refused to extend credit for fear of government retaliation. Only Chinabank
of Binondo, whose owners Don Pepe assisted when they themselves were just starting out, defied the government and helped him. (His granddaughter Victoria Eliza Cojuangco Aquino or Viel, would later marry into this banking family now headed by former Ambassador to the Vatican
Howard Dee).
His sons Pete and Peping lost the bid to own the Philippine Long Distance Telephone Company
after it was awarded to Monching Cojuangco, Antonio Meer, and his Ongsiako brother-in-law. (Imelda de la Paz Ongsiako Cojuangco, Monching's wife, was a Blue Lady of Imelda Marcos
, and wedding sponsor to presidential daughter Irene Marcos Araneta).
His First United Bank
was renamed and was spun off by President Marcos as a front to illegally collect coconut levy funds, hence the reason why United Coconut Planters Bank
is sometimes referred to as Cocobank.
The transportation companies he owned with the Lopa family were also lost to Marcos cronies. Benjamin "Kokoy" Romualdez, brother of Philippine First Lady Imelda Marcos
, took over the First Manila Management Corp., the mother company of Mantrade (which handled the distribution of Ford Motors and other motor vehicles) and the Pantranco bus company (painted with vibrant hearts of every color, the fleet earned the moniker "Lovebus"), shorty after the death of Cojuangco's business partner, Manuel Lopa, Sr., in 1974. (With his death, the conglomerate lost their immunity from the Marcoses, since Lopa shared a close friendship with Imelda's late uncle, Daniel Romualdez
y Zialcita, Speaker Pro Tempore of the Philippine Congress, who died suddenly via a heart attack, a few months before his niece Imelda Marcos
rose as Philippine First Lady, in 1965.) Lopa's son (and Cojuangco's son-in-law), Ricardo "Baby" Lopa, was then ousted from the company.
Cojuangco no longer controlled the Bank of Commerce
, which was closest to his heart, as it was the first non-agricultural company he founded. Also, it was the last company that, out of family solidarity, he formed insisting that all four branches of the Cojuangco should co-own. His departure from Bank of Commerce
left Don Pepe's psyche bruised and his spirit betrayed.
His lawyer, Juan Ponce Enrile
, a son of his old friend and attorney, the Spanish mestizo Alfonso Ponce Enrile (father of Armida Siguion Reyna and Irma Potenciano), has since not been able to help him speak to President Marcos even when the latter was the designated Defense Minister.
Neither can his nephew, Danding Cojuangco, a Marcos associate, could do anything to help Cojuangco. He himself comforted his old uncle, saying "Tio Pepe, huwag na po kayong umiyak" (Uncle Pepe, please do not cry).
One of his lasting words to his family was "Kawawa naman si Cory" (Oh how pitiful Cory is!), as he died broken hearted to see this daughter of his harassed and harangued by the Marcos government for being the woman Ninoy Aquino chose as his wife.
In 1979, his last surviving brother, Juan Cojuangco, died. Some of his wealth devolved back to his six nephews and eight nieces. The rest was left to his second wife, Doña Hati, who formed the Cojuangco Aldaba Foundation.
Ten years after Don Pepe's death, in 1986, Cory Aquino would be swept into the presidency of the Philippines, while President Ferdinand Marcos
, Benjamin Romualdez, Danding Cojuangco, and their extended families, fled to Hawaii and mainland United States.
His grandson through his daughter Corazon, is Senator Benigno Aquino III
who sat in the Upper House together with Senator Juan Ponce Enrile
, the former Cojuangco
family lawyer. With the help of sisters Kris Aquino
, Maria Elena Cruz, Aurora Corazon Abellada, Victoria Eliza Dee, plus Antonio Ongsiako Cojuangco, other relatives, Mar Roxas
and his family headed by mother Judy Araneta Roxas, and most importantly, numerous volunteers, Noynoy Aquino campaigned and successfully won the Philippine presidency that his mother Cory Aquino once occupied. (One of his opponents was Gilbert Teodoro, Danding Cojuangco's nephew through sister Mercedes).
Hacienda Luisita
's ownership is currently being questioned in the media due to proviso verbiage in the sale indicating a land redistribution.
Meanwhile, the Antonio Cojuangco branch lost the Philippine Long Distance Telephone Company
through a sale brokered by President Joseph Ejercito Estrada.
The two junior branches of the family, the Eduardo Cojuangcos and the Antonio Cojuangcos, still control the United Coconut Planters Bank
(formerly First United Bank
) and the Bank of Commerce
, respectively. However, recently, San Miguel Corporation (chaired by Danding Cojuangco of the Eduardo Cojuangco branch) acquired the controlling interest in Bank of Commerce from the Antonio Cojuangco branch.
Tarlac
Tarlac is a landlocked province of the Philippines located in the Luzon Island. Its capital is Tarlac City. Tarlac borders Pampanga to the south, Nueva Ecija to the east, Pangasinan to the north, and Zambales to the west...
in the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
. He served from 1934 to 1946. Cojuangco is one of the patriarchs of the Cojuangco
Cojuangco
Cojuangco is a Filipino surname of Chinese origin Hsu .People with the surname Cojuangco are listed below in alphabetical order.-B:...
clan. He was the father of former Philippines President Corazon Aquino
Corazon Aquino
Maria Corazon Sumulong Cojuangco-Aquino was the 11th President of the Philippines and the first woman to hold that office in Philippine history. She is best remembered for leading the 1986 People Power Revolution, which toppled Ferdinand Marcos and restored democracy in the Philippines...
and the grandfather of current Philippines President Noynoy Aquino. His other grandchildren include actresses Kris Aquino
Kris Aquino
Kristina Bernadette Cojuangco Aquino , commonly known as Kris Aquino, is a Filipino television and movie personality who gained prominence from her talk shows, game shows, and numerous endorsements. Known as the Queen of All Media and Philippines' Queen of Talk, she is the youngest daughter of...
and Mikee Cojuangco.
Parents
His father was Melecio Cojuangco y Estrella, whose father was "El Chino" Jose, a Chinese immigrant. A skilled carpenter, Melecio helped build churches in Binondo, BulacanBulacan
Bulacan , officially called the Province of Bulacan or simply Bulacan Province, is a first class province of the Republic of the Philippines located in the Central Luzon Region in the island of Luzon, north of Manila , and part of the Metro...
and in Gapan, Nueva Ecija. Melecio's mother was Antera Estrella of Gapan, Nueva Ecija, a daughter of Felipe Estrella, a Spaniard and Martina Calub Cruz, a local woman. (With the Estrella connection, the Cojuangcos gained their initial foothold in Nueva Ecija, which explains why Barangay Cojuangco exists in nearby Santa Rosa, Nueva Ecija
Santa Rosa, Nueva Ecija
Santa Rosa is a 1st class municipality in the province of Nueva Ecija, Philippines. According to the latest census, it has a population of 58,762 people in 10,281 households....
and which partly explains how the Cojuangcos eventually owned Hacienda Bakal in Talavera, Nueva Ecija
Talavera, Nueva Ecija
Talavera is a 1st class municipality in the province of Nueva Ecija, Philippines. According to the latest census, it has a population of 105,122 people in 19,526 households....
).
Melecio's wife was a Chinese mestiza
Filipino mestizo
Filipino mestizo is a term used in the Philippines to describe people of mixed Filipino and foreign ancestry. The word mestizo is of Spanish origin, and was originally used in the Americas to only describe people of mixed European and Native American ancestry.- History :Spanish periodThe Spanish...
, Doña Tecla Chichioco of Malolos and Hagonoy, Bulacan
Hagonoy, Bulacan
Hagonoy is a 1st class urban municipality in the province of Bulacan, Philippines. According to the 2007 NSO census, it has a population of 126,329 inhabitants distributed in 25,900 households. It is the birthplace of Former Senator Blas F...
.
Melecio's siblings include elder sister Ysidra Cojuangco y Estrella who massively enlarged the already considerable Cojuangco fortune by buying land and dabbling in sugar mills and real estate; and younger sister Trinidad Cojuangco y Estrella, who died a spinster.
Siblings
Cojuangco was the oldest of 4 siblings:- Juan "Itoy" Chichioco Cojuangco (2nd sibling / 2nd older brother / 1st marriage to Elena Garcia / 2nd marriage to Lualhati Aldaba). Doña Elena Garcia Cojuangco was a daughter of Spanish mestizo Gregorio Garcia who owned a rival sugar mill in Paniqui, Tarlac. Lualhati "Hati" Aldaba was a sister of Opera Guild of the Philippines founder Dalisay Aldaba and also the sister of the Philippine Government's first Social Secretary, Estefania Aldaba Lim (mother of Che Che Lazaro). Juan Cojuangco died without legitimate heirs, although he sired a daughter through his sister-in-law, Imelda Garcia.
- Antonio Cojuangco, Sr., who married Victoria Uychuico, a Chinese mestiza from Tarlac. Antonio was a doctor in pre-war Manila. He was massacred at De La Salle UniversityDe La Salle UniversityDe La Salle University is a private Lasallian university in Malate, Manila, Philippines. It was founded in 1911 by De La Salle Brothers as the De La Salle College in Paco, Manila with Blimond Pierre serving as its first director...
by the Japanese in the final days of World War II together with his wife, adopted son Ricardo (Carding), daughter Trinidad, household staff, and neighbors. His daughter Trinidad was married to Servillano AquinoServillano AquinoServillano Aquino y Aguilar was a Filipino general during the Philippine Revolution against Spain , and the Philippine-American War . He served as a delegate to the Malolos Congress and was the grandfather of Benigno S...
Jr or Billy, (half brother of Benigno Aquino, Jr.Benigno Aquino, Jr.Benigno Simeon "Ninoy" Aquino, Jr. was a Filipino Senator and a former Governor of Tarlac. Aquino, together with Gerry Roxas and Jovito Salonga, formed the leadership of the opposition to the Marcos regime in the years leading to the imposition of martial law in the Philippines...
). Antonio's son, Ramon (Monching), was the owner of the Philippine Long Distance Telephone CompanyPhilippine Long Distance Telephone CompanyThe Philippine Long Distance Telephone Company commonly known as PLDT, is the largest telecommunications company in the Philippines. PLDT is also the largest company in the Philippines, ranked 1138th in the April 2009 update, and 1080th in the April 2010 update, of Forbes' Global 2000 list...
.
- Eduardo "Endeng" Chichioco Cojuangco, Sr. was Jose's youngest brother. He was married to Josephine "Nene" Murphy), a Miss Baguio beauty queen and only daughter of Alhambra Theater owner John J Murphy. Murphy later made Baguio his home; he was a former United States soldier and paymaster to Col. Lyman Kennon (for whom Kennon Road was named). Murphy and his battalion initially pursued General Emilio AguinaldoEmilio AguinaldoEmilio Aguinaldo y Famy was a Filipino general, politician, and independence leader. He played an instrumental role during the Philippines' revolution against Spain, and the subsequent Philippine-American War or War of Philippine Independence that resisted American occupation...
y Famy of CaviteCaviteCavite is a province of the Philippines located on the southern shores of Manila Bay in the CALABARZON region in Luzon, just 30 kilometers south of Manila. Cavite is surrounded by Laguna to the east, Metro Manila to the northeast, and Batangas to the south...
up to the Sierra Madre.
Among the four male heirs of the Cojuangcos, Don Pepe, as he is remembered, was the only one born in Malolos, Bulacan
Bulacan
Bulacan , officially called the Province of Bulacan or simply Bulacan Province, is a first class province of the Republic of the Philippines located in the Central Luzon Region in the island of Luzon, north of Manila , and part of the Metro...
, where his father built the secret stairway in Barasoain Church
Barasoain Church
Barasoain Church is a Roman Catholic church built in 1630 in Malolos City, Bulacan. Having earned the title as the Cradle of Democracy in the East, the most important religious building in the Philippines, and the site of the First Philippine Republic, the Church is proverbial for its historical...
used by the Spanish friars to smuggle women into their private quarters. The old Cojuangco-Chichioco mansion still stands a few meters from the Barasoain Church on land inherited by Tecla from her Chichioco merchant father. It is maintained for the Cojuangcos by their Chichioco relatives. The physical address used to be known as #540 Paseo del Congreso but the locals called it Calle de las Mestizas (street of the Mixed Filipinas) on account of the numerous women who lived there, daughters of the friars nearby. After World War II, the name was changed to Santo Niño Street, Mestizohin District.
Wife and children
Cojuangco was married to Demetria "Metring" Sumulong, daughter of Senator Juan Marquez Sumulong of RizalRizal
Rizal is a province located in the CALABARZON , just 16 kilometers east of Manila. The province was named after the country's national hero, José Rizal. Rizal Governor Casimiro A. Ynares III on June 17, 2008 announced the transfer of the Capitol from Pasig. Its P 270-million capitol building,...
province and sister to Lorenzo Sumulong
Lorenzo Sumulong
Lorenzo Sumulong was a Filipino politician who served in the Philippine Senate for four decades, and as a delegate of his country to the United Nations...
, also a Philippine senator. Their law offices were located within Manila's Plaza Cervantes where Metring used to serve as legal assistant. Demetria was also related to Senator Ceferino de Leon of San Miguel de Mayumo, Bulacan
Bulacan
Bulacan , officially called the Province of Bulacan or simply Bulacan Province, is a first class province of the Republic of the Philippines located in the Central Luzon Region in the island of Luzon, north of Manila , and part of the Metro...
(Senator De Leon's daughter was Philippine Carnival Queen Trinidad Roura de Leon, wife of President Manuel Roxas
Manuel Roxas
Manuel Acuña Roxas was the first president of the independent Third Republic of the Philippines and fifth president overall. He served as president from the granting of independence in 1946 until his abrupt death in 1948...
y Acuña, whose grandson Mar Roxas
Mar Roxas
Manuel "Mar" Araneta Roxas II is a former Senator of the Philippines. He is the son of former Senator Gerry Roxas, and the grandson of former President Manuel Roxas and industrialist J. Amado Araneta....
would be Demetria's grandson Noynoy Aquino's vice president running mate.) Family lore has it that Don Pepe's Chinese grandfather insisted his eldest grandson to marry Metring since she had a mole under her nose, which would bring Pepe wealth beyond compare during his lifetime. The most obedient of the four boys, Don Pepe did not object to the marriage.
The couple had eight children:
- Ceferino (stillborn)
- Pedro or "Pete", married to Rosario "Sari" Cacho. Sari Cojuangco is aunt to Louise "Lisa" Cacho AranetaAranetaAraneta can refer to:*Araneta family, prominent filipino-spanish family in business, politics and religion.*Araneta Center, a commercial area in Quezon City, Philippines.*Araneta Coliseum, an indoor stadium in the Araneta Center....
, wife of Ferdinand Marcos, Jr.Ferdinand Marcos, Jr.Ferdinand Romualdez Marcos, Jr. , also known as Bongbong Marcos is a Filipino politician and a senator to the 15th Congress. He is the only son of Ferdinand E. Marcos, the former president of the Philippines , and former First Lady Imelda Romualdez-Marcos...
(Bongbong Marcos), only son of President Ferdinand MarcosFerdinand MarcosFerdinand Emmanuel Edralin Marcos, Sr. was a Filipino leader and an authoritarian President of the Philippines from 1965 to 1986. He was a lawyer, member of the Philippine House of Representatives and a member of the Philippine Senate...
. Their younger son, Fernando "Nando" Cojuangco, is the administrator of Hacienda LuisitaHacienda LuisitaHacienda Luisita is a 6,435-hectare plantation estate located in Tarlac, Philippines, owned by the Cojuangco family, which includes former Philippine President Cory Aquino and her son, President Noynoy Aquino. It spans various towns in the province...
while his parents move between CaliforniaCaliforniaCalifornia is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
and ManilaManilaManila is the capital of the Philippines. It is one of the sixteen cities forming Metro Manila.Manila is located on the eastern shores of Manila Bay and is bordered by Navotas and Caloocan to the north, Quezon City to the northeast, San Juan and Mandaluyong to the east, Makati on the southeast,...
. Mr. Marcos Jr. is currently a Senator of the Philippines while his wife Louise is a founding partner of the all Ateneo de Manila-alumni Marcos Ochoa Serapio and Tan Law Offices.
- Josephine, married to Nicanor Reyes, Jr. Mrs. Reyes and family owns Far Eastern UniversityFar Eastern UniversityFar Eastern University in the University Belt area, West Sampaloc, City of Manila, is a nonsectarian, private university in the Philippines. Created by the merger of Far Eastern College and the Institute of Accounts, Business and Finance, FEU became a university in 1934 under the guidance of...
and the Nicanor Reyes Foundation. She shares her fortune with her children, one of which is married to an heir of Consuelo Madrigal Collantes (aunt of Senator Jamby MadrigalJamby MadrigalMaria Ana Consuelo Madrigal-Valade , better known as Jamby Madrigal, is a politician in the Philippines. She was elected during the 2004 general elections as a Senator...
and Tana Madrigal of the Bristol Myers Squibb heirs) of the Madrigal Shipping, Susana Realty and Republic Cement fame, and owner to a large block of shares at the Bank of the Philippine IslandsBank of the Philippine IslandsBank of the Philippine Islands is the oldest bank in the Philippines still in operation and is the country's third largest bank in terms of assets, the country's largest bank in terms of market capitalization, and the country's most profitable bank...
of the ZobelZobel de Ayala familyThe Zóbel de Ayala clan is a Filipino business family of German-Spanish ancestry. Since the 19th century, they have created the Ayala Corporation, a holding company for a combination of businesses related to the heart of Philippines business, industry and finance.-History:The Ayala ancestors were...
family. She was named after her uncle's wife and Danding Cojuangco's mother, Josephine Murphy Cojuangco. They developed Ferndale Homes in Quezon City as well.
- Teresita or "Terry", married to Ricardo "Baby" Lopa. The Lopa clan, through their patriarch Manuel Lopa, Sr. and matriarch Purificacion Lopa (immortalized in a beautiful Fernando AmorsoloFernando AmorsoloFernando Amorsolo y Cueto is one of the most important artists in the history of painting in the Philippines. Amorsolo was a portraitist and painter of rural Philippine landscapes. He is popularly known for his craftsmanship and mastery in the use of light...
painting), were close business associates of the Cojuangcos who have mutual investments in Mantrade, First Manila Management, PantrancoPhiltrancoPhiltranco is a Philippine transport company servicing Luzon, Visayas, and Mindanao routes. The company provides ordinary non-aircon, airconditioned, and executive bus services. Philtranco is also positioning itself as a cargo or document-handler, forwarder and carrier to its existing transport...
, First United BankFirst United BankFirst United Bank, headquartered in Durant, Oklahoma, is the sixth largest bank in the state of Oklahoma with more than $2.05 billion in total assets...
, Central Azucarera de TarlacHacienda LuisitaHacienda Luisita is a 6,435-hectare plantation estate located in Tarlac, Philippines, owned by the Cojuangco family, which includes former Philippine President Cory Aquino and her son, President Noynoy Aquino. It spans various towns in the province...
, and Nissan Philippines. The Lopas made their fortune in the automotive and transportation industries, and were co-founders of Equitable Bank (now Equitable PCI BankEquitable PCI BankEquitable PCI Bank was one of the largest banks in the Philippines, being the third-largest bank in terms of assets. With PCI Bank the largest bank before it was overtaken by Metrobank in 1995. It is the result of the merger of Equitable Banking Corporation and Philippine Commercial International...
). Baby Lopa and his siblings are known for their extensive collection of ManansalaVicente ManansalaVicente Silva Manansala was a Philippine cubist painter and illustrator.Manansala was born in Macabebe, Pampanga. From 1926 to 1930, he studied at the U.P. School of Fine Arts. In 1949, Manansala received a six-month grant by UNESCO to study at the Ecole de Beaux Arts in Banff and Montreal, Canada...
, Amorsolo and other Filipino masterpiece paintings amassed during the 1960s when his father, Don Manuel, and father-in-law, Don Pepe, were at the height of their wealth.
- Carmen, (died at 18 months). Metring's next child was born 4 months later.
- Corazon or "Cory", married to Senator Benigno Aquino, Jr. Benigno, or "Ninoy", was born to an influential political family from Tarlac. His grandfather, Servillano AquinoServillano AquinoServillano Aquino y Aguilar was a Filipino general during the Philippine Revolution against Spain , and the Philippine-American War . He served as a delegate to the Malolos Congress and was the grandfather of Benigno S...
, was a general in the revolutionary army against Spain while his father, Benigno Aquino, Sr.Benigno Aquino, Sr.Benigno Simeon Aquino, Sr. , also known as Benigno S. Aquino or Benigno S. Aquino, Sr., was a Filipino politician who served as Speaker of the Second Philippine Republic National Assembly from 1943 to 1944....
y Quiambao was a former Speaker. Honest politicians, General Servillano and his son were known to refuse any government salary or stipend. To finance their political activities, the Aquinos hocked their three largest haciendas away: Hacienda Lawang, Hacienda Murcia and Hacienda Tinang. Ninoy was previously the youngest governor of Tarlac and a Philippine senator, the staunchest critic of President Ferdinand MarcosFerdinand MarcosFerdinand Emmanuel Edralin Marcos, Sr. was a Filipino leader and an authoritarian President of the Philippines from 1965 to 1986. He was a lawyer, member of the Philippine House of Representatives and a member of the Philippine Senate...
and a protege of President Ramon MagsaysayRamon MagsaysayRamón del Fierro Magsaysay was the third President of the Republic of the Philippines from December 30, 1953 until his death in a plane crash in 1957. He was elected President under the banner of the Nacionalista Party.-Early life:Ramon F...
. Ninoy was assassinated at the tarmac of the Manila International Airport (now Ninoy Aquino International AirportNinoy Aquino International AirportThe Ninoy Aquino International Airport or NAIA , also known as Manila International Airport , is the airport serving the general area of Manila and its surrounding metropolitan area...
) in 1983.
- Jose Jr. or "Peping", married to Margarita "Tingting" Hernandez de los Reyes. Peping Cojuangco is currently a Philippine Sports Commissioner and previously a representative of Tarlac. Margarita Cojuangco was a former governor of Tarlac, a former model, and through her De los Reyes family, is interrelated to Gilbert Teodoro (Teodoro's great grandfather was a De los Reyes love child), Philippine Carnival Queen and billionaire attorney Pacita de los Reyes y Ongsiako (later married to an American serviceman), and Imelda de la Paz Ongsiako who married Ramon Cojuangco of PLDT ). One of Jose Jr's daughters is married into the billionaire BenettonBenetton familyFour members of the Italian Benetton family founded the Benetton Group S.p.A. fashion company in 1965. The three brothers and one sister were all born in Treviso, Veneto, Italy. Their father owned a bicycle shop...
family of ItalyItalyItaly , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
that own the iconic United Colors of Benetton plus vineyards and many thousand-hectare estanciaEstânciaEstância is a municipality located in the Brazilian state of Sergipe. Its population was 62,218 and its area is 642 km². The city is the seat of the Roman Catholic Diocese of Estância....
s in ArgentinaArgentinaArgentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
.
- Maria Paz or "Passy", married to Ernesto "Esting" Teopaco. The Teopacos were the neighbors of the Jose Cojuangcos on the affluent Robert Street (in Pasay City), parallel to Roxas BoulevardRoxas BoulevardRoxas Boulevard is a boulevard in Metro Manila, and an eight-lane arterial road that connects the center of Manila with Pasay City, Parañaque City. It is one of the major arteries in the city's metropolitan network, designated as Radial Road 1...
. Other prominent families residing on Robert Street were the Elizaldes, Sorianos, Quezons, Lopas, Cu-Unjiengs and Opens (the parents of Soledad Oppen Cojuangco or Gretchen, the wife of Danding Cojuangco). The Teopaco-Cojuangcos were once known for their winning collection of fighting roosters in the 60s and 70s.
Cojuangco was the founder of Mantrade Philippines, the Bank of Commerce
Bank of Commerce
Bank of Commerce, also known as BankCom, Bancommerce and BoC, is a commercial bank and the 15th largest lender by asset in the Philippines. Its headquarters is at the San Miguel Properties Center, No. 7 Saint Francis Avenue, Mandaluyong...
, First United Bank
First United Bank
First United Bank, headquartered in Durant, Oklahoma, is the sixth largest bank in the state of Oklahoma with more than $2.05 billion in total assets...
, and the Pantranco bus company.
World War II
In the 1940s, with less than a day's notice, he left the CojuangcoCojuangco
Cojuangco is a Filipino surname of Chinese origin Hsu .People with the surname Cojuangco are listed below in alphabetical order.-B:...
mansion (built in 1933 the year Cory Aquino was born) along Agno Street (near De La Salle University
De La Salle University
De La Salle University is a private Lasallian university in Malate, Manila, Philippines. It was founded in 1911 by De La Salle Brothers as the De La Salle College in Paco, Manila with Blimond Pierre serving as its first director...
), Malate
Malate
Malate is the ionized form of malic acid. It is an important chemical compound in biochemistry. In the C4 carbon fixation process, malate is a source of CO2 in the Calvin cycle....
, Manila for the safety of Antipolo
Antipolo
Antipolo is a city in the Philippines located in the province of Rizal; about 25 kilometers east of Manila. It is the largest city in the Calabarzon Region in terms of population...
, Rizal
Rizal
Rizal is a province located in the CALABARZON , just 16 kilometers east of Manila. The province was named after the country's national hero, José Rizal. Rizal Governor Casimiro A. Ynares III on June 17, 2008 announced the transfer of the Capitol from Pasig. Its P 270-million capitol building,...
(political bailiwick of his wife's relatives). Meanwhile, his aunt Ysidra and brother Eduardo fled to Baguio city where they thought the Japanese would not go and where there were large Cojuangco apartments. (Eduardo Sr's mother-in-law Gregoria Beley Murphy was in Baguio as well.) His relative Antonio stayed behind due to his son's fever.
While Ysidra Cojuangco y Estrella and her nephews and their families sought shelter at the Baguio cathedral
Baguio Cathedral
Our Lady of Atonement Cathedral, better known as Baguio Cathedral, is a Catholic cathedral located at Cathedral Loop, adjacent to Session Road in Baguio City in the Philippines. It is distinct for its rose-colored exterior, twin spires and traditional stained glass windows make it famous and is one...
during the bombardments, the Antonio Cojuangcos were trapped in the De La Salle University
De La Salle University
De La Salle University is a private Lasallian university in Malate, Manila, Philippines. It was founded in 1911 by De La Salle Brothers as the De La Salle College in Paco, Manila with Blimond Pierre serving as its first director...
chapel where they were massacred by the desperate Japanese. Only two survived, including Ramon or "Monching" (whose second wife would later be Imelda Ongsiako Cojuangco. His young first wife Natividad "Nene" de las Alas, sister of Pacita "Ching" (the wife of Sergio Montinola), Lourdes "Lily" (wife of Senator Ambrosio Padilla
Ambrosio Padilla
Ambrosio Bibby Padilla was a former Filipino basketball player and former elected member of the Senate of the Philippines. He was one of the most important figures in the Asian basketball development.Padilla was born as the eighth of eleven children of Dr. Nicanor Padilla and Ysabel Bibby...
and arch-enemy of another beautiful senator's wife, Imelda Marcos
Imelda Marcos
Imelda R. Marcos is a Filipino politician and widow of 10th Philippine President Ferdinand Marcos. Upon the ascension of her husband to political power, she held various positions to the government until 1986...
) and Carmencita "Menchu" (wife of Raul Concepcion of RFM Corporation ) was also hacked to death) and Lourdes or "Lulu" who was saved when the bayonet hit the baby (Monching's firstborn) she was carrying instead. She would be the wife of Luis Tirso Rivilla of the Ormoc Sugar Central later on...
As the eldest male Cojuangco, Pepe felt partly to blame for the near decimation of the Antonio Cojuangco branch. From that day on, Cojuangco and his relatives never lived in Malate
Malate
Malate is the ionized form of malic acid. It is an important chemical compound in biochemistry. In the C4 carbon fixation process, malate is a source of CO2 in the Calvin cycle....
ever again. He sent Monching, Lulu and his own children to the United States for their studies. (Ravenhill Academy, College of Mount Saint Vincent
College of Mount Saint Vincent
For the university in Halifax, Nova Scotia, see Mount Saint Vincent University The College of Mount Saint Vincent is a Catholic liberal arts college located in the northeast corner of the Riverdale section of The Bronx, New York, adjacent to the Yonkers border. It is the northernmost location in...
, et al.). He cared for Antonio's children as if they were his own.
1950s
As his businesses outside of Tarlac flourished, he invited the rest of his family to join him. His brother, Itoy, and Antonio's son, Monching, benefited from this arrangement. Danding Cojuangco, his nephew by ex-Governor Eduardo "Endeng" Cojuangco Sr, declined.In 1953, Cojuangco's youngest brother, Endeng (Danding Cojuangco's father) was sick and needed treatment in the United States. At that time, dollars was strictly regulated. Don Pepe's wife and holder of the entire clan's purse, Doña Metring (Cory Aquino's mother) was unable to obtain the necessary funds to facilitate the young Endeng Cojuangco's medical expenses. Danding's father later died of kidney failure. Also in 1953, President Ramon Magsaysay
Ramon Magsaysay
Ramón del Fierro Magsaysay was the third President of the Republic of the Philippines from December 30, 1953 until his death in a plane crash in 1957. He was elected President under the banner of the Nacionalista Party.-Early life:Ramon F...
offered to sell Hacienda Luisita
Hacienda Luisita
Hacienda Luisita is a 6,435-hectare plantation estate located in Tarlac, Philippines, owned by the Cojuangco family, which includes former Philippine President Cory Aquino and her son, President Noynoy Aquino. It spans various towns in the province...
to Don Pepe, as the Hukbalahap
Hukbalahap
The Hukbalahap , was the military arm of the Communist Party of the Philippines , formed in 1942 to fight the Japanese Empire's occupation of the Philippines during World War II. It fought a second war from 1946 to 1954 against the pro-Western leaders of their newly independent country...
rebels caused much fear and the Spanish owners, the Tabacalera
Tabacalera
Tabacalera is a Spanish tobacco monopoly which was established in 1636, making it the oldest tobacco company in the world . In 1999 the company merged with SEITA of France to form Altadis. Its brands included Ducados and Fortuna....
, wanted to sell. (President Magsaysay was avoiding the wealthier hacenderos from Negros island and Iloilo
Iloilo
Iloilo is a province of the Philippines located in the Western Visayas region. Iloilo occupies the southeast portion of Panay Island and is bordered by Antique Province to the west and Capiz Province and the Jintotolo Channel to the north. Just off Iloilo's southeast coast is Guimaras Province,...
, specifically the brothers Fernando Lopez
Fernando Lopez
Fernando López,Sr. was a Filipino statesman. A member of the influential López Family of Iloilo, Fernando López served as Vice President for three terms, under President Elpidio Quirino for the Liberals and Ferdinand Marcos for the Nacionalistas.-Early life and career:López was born on April 13,...
and Eugenio Lopez
Eugenio Lopez
-Philippines:*Eugenio Lopez, Sr., original owner of the Manila Chronicle and founder of Chronicle Broadcasting Network, see DWWX-TV*Eugenio Lopez, Jr., former CEO and president of ABS-CBN Broadcasting Corporation...
, from owning too much as they already purchased the PASUMIL consortium in Del Carmen, Pampanga
Pampanga
Pampanga is a province of the Philippines located in the Central Luzon region. Its capital is the City of San Fernando, Pampanga. Pampanga is bordered by the provinces of Bataan and Zambales to the west, Tarlac and Nueva Ecija to the north, and Bulacan to the southeast...
.) Negotiations started but President Magsaysay died when his airplane crashed on Mount Manunggal in Cebu
Cebu
Cebu is a province in the Philippines, consisting of Cebu Island and 167 surrounding islands. It is located to the east of Negros, to the west of Leyte and Bohol islands...
. The deal was closed five years later in President Carlos Garcia
Carlos Garcia
Carlos Garcia may refer to:*Carlos García , Venezuelan former major league baseball player*Carlos García-Bedoya , Peruvian diplomat who served as Minister of Foreign Affairs in 1979*Carlos P...
y Polistico's term who was a close ally of then Senator Ferdinand Marcos
Ferdinand Marcos
Ferdinand Emmanuel Edralin Marcos, Sr. was a Filipino leader and an authoritarian President of the Philippines from 1965 to 1986. He was a lawyer, member of the Philippine House of Representatives and a member of the Philippine Senate...
y Edralin.
In early 1958 Cojuangco purchased the Hacienda Luisita
Hacienda Luisita
Hacienda Luisita is a 6,435-hectare plantation estate located in Tarlac, Philippines, owned by the Cojuangco family, which includes former Philippine President Cory Aquino and her son, President Noynoy Aquino. It spans various towns in the province...
, the second biggest contiguous piece of property in Luzon
Luzon
Luzon is the largest island in the Philippines. It is located in the northernmost region of the archipelago, and is also the name for one of the three primary island groups in the country centered on the Island of Luzon...
island. This time, he was able to secure American dollars required by the Tabacalera
Tabacalera
Tabacalera is a Spanish tobacco monopoly which was established in 1636, making it the oldest tobacco company in the world . In 1999 the company merged with SEITA of France to form Altadis. Its brands included Ducados and Fortuna....
. Unlike before, he called on his friend, Philippine Central Bank governor Miguel Cuaderno to help him. It must be noted that the hacienda is separate from the lands his aunt Doña Ysidra Cojuangco y Estrella assembled in the past decades. He and his son-in-law, Ninoy (Benigno Aquino Jr), introduced strong social programs favoring the farmers of the hacienda.
While Don Pepe was genuinely loved by the farmers under his management (free healthcare, free schooling, adult education, veterinary medicines for the farm animals), designated areas for employee housing), the stark treatment concerning the dollars relating to Endeng's survival and his subsequent death versus the grand business move Cojuangco made in purchasing Hacienda Luisita
Hacienda Luisita
Hacienda Luisita is a 6,435-hectare plantation estate located in Tarlac, Philippines, owned by the Cojuangco family, which includes former Philippine President Cory Aquino and her son, President Noynoy Aquino. It spans various towns in the province...
added insult to injury to Doña Nene and her now fatherless six children (Eduardo, Mercedes, Aurora, Isabel, Enrique and Manuel). Besides the opposing views in politics and the abandonment of the Antonio Cojuangcos in Manila during the war, the situation concerning his younger brother's death would eventually cause for a collision course between Cojuangco's and Endeng Lalake's heirs.
1960s
In the 1960s, Cojuangco's bus company and banking arm expanded to open satellite offices all over the country. The Bank of CommerceBank of Commerce
Bank of Commerce, also known as BankCom, Bancommerce and BoC, is a commercial bank and the 15th largest lender by asset in the Philippines. Its headquarters is at the San Miguel Properties Center, No. 7 Saint Francis Avenue, Mandaluyong...
was the preferred intermediary/ local bank of American companies in Manila
Manila
Manila is the capital of the Philippines. It is one of the sixteen cities forming Metro Manila.Manila is located on the eastern shores of Manila Bay and is bordered by Navotas and Caloocan to the north, Quezon City to the northeast, San Juan and Mandaluyong to the east, Makati on the southeast,...
. He then divested from Bank of Commerce
Bank of Commerce
Bank of Commerce, also known as BankCom, Bancommerce and BoC, is a commercial bank and the 15th largest lender by asset in the Philippines. Its headquarters is at the San Miguel Properties Center, No. 7 Saint Francis Avenue, Mandaluyong...
less than a month before the stockholder's meeting to avoid the embarrassing situation of being unseated by his brother Itoy, his nephew Danding and his other nephew Monching, who wanted greater influence in the bank. Afterwards, he opened First United Bank
First United Bank
First United Bank, headquartered in Durant, Oklahoma, is the sixth largest bank in the state of Oklahoma with more than $2.05 billion in total assets...
. With perseverance First United became a major bank under his helm.
Due to the geographical proximity of his Hacienda Luisita
Hacienda Luisita
Hacienda Luisita is a 6,435-hectare plantation estate located in Tarlac, Philippines, owned by the Cojuangco family, which includes former Philippine President Cory Aquino and her son, President Noynoy Aquino. It spans various towns in the province...
and the Paniqui Sugar Mills which he managed on behalf of the entire family, there were times when more than 90% of all raw sugar milled in central Luzon
Luzon
Luzon is the largest island in the Philippines. It is located in the northernmost region of the archipelago, and is also the name for one of the three primary island groups in the country centered on the Island of Luzon...
were processed through Cojuangco-owned companies. The Cojuangco family owned so much land in Central Luzon
Central Luzon
Central Luzon , also known as Region III , is an administrative division or region of the Republic of the Philippines, primarily serve to organize the 7 provinces of the vast central plain of the island of Luzon , for administrative convenience...
that they could dictate the price of rice and non-Visayan sugar.
1970s
When the 1970s set in, Don Pepe had already resigned from his Bank of CommerceBank of Commerce
Bank of Commerce, also known as BankCom, Bancommerce and BoC, is a commercial bank and the 15th largest lender by asset in the Philippines. Its headquarters is at the San Miguel Properties Center, No. 7 Saint Francis Avenue, Mandaluyong...
position and sold all his shares to avoid a boardroom coup by the other branches of the Cojuangco family. This was particularly sentimental for Don Pepe, as he was the one who founded Bank of Commerce and nurtured it from bankruptcy. It was also the one company where he insisted that all four families of the Cojuangco co-own, not knowing that the same generosity will swallow him in his twilight years.
Meanwhile, his bus company was coerced to file for bankruptcy after the Marcos-led administration refused to allow rate hikes even when market forces deemed an increase in bus fares. The same happened to Mantrade. Unable to expand his businesses due to political pressures, in 1975, he sold his First United Bank
First United Bank
First United Bank, headquartered in Durant, Oklahoma, is the sixth largest bank in the state of Oklahoma with more than $2.05 billion in total assets...
. The buyer was the Marcos-led Philippine Government who incorporated it in what is now known as the United Coconut Planters Bank
United Coconut Planters Bank
The United Coconut Planters Bank, more popularly known by its initials, UCPB, or by its old name, Cocobank, is one of the largest banks in the Philippines, ranking within the top twenty banks in the Philippines in terms of assets. The bank, owing to its name, caters heavily to coconut farmers, but...
.
Political life
Cojuangco was representative of the First District of Tarlac to the 10th Philippine Legislature in 1934-35, the First Philippine National Assembly in 1935-1938, the Second National Assembly in 1938-1941 and the Third National Assembly in 1941-1946.He represented Tarlac in the same way that his father Don Melecio Cojuangco did as the first ever representative of Tarlac in the First Philippine Legislature of 1907-1909. (Don Melecio's political career was cut short when he suffered a fatal heart attack in the Urdaneta-Manila train while defending his sons Jose (Pepe) and Juan (Itoy) from American soldiers wanting to sidestep the youngsters from their seats. Mauricio Ilagan served the remaining 4 years (till 1912) of his term).
While in Congress, Don Pepe was one of two representing the province of Tarlac. The other one was Benigno Aquino, Sr y Quiambao, whose son from his second marriage, Ninoy Aquino became the husband to Don Pepe's daughter, Cory Aquino. In essence, the current Philippine President Noynoy Aquino's paternal and maternal grandfathers sat side by side for Tarlac from 1935–1938 and again from 1941-1946.
Don Pepe Cojuangco retired from politics after World War II and thus avoided a clash with his younger brother, Eduardo Sr. or Endeng Lalake, the charismatic governor of Tarlac province. When he quit politics, his personal wealth was preserved unlike his good friend and future in-law Benigno Aquino, Sr's, whose lands and cash holdings decreased dramatically by using it for social welfare programs in their home province.
Death
He died on August 21, 1976.He died during the darkest days of the Jose Cojuangcos. All of his businesses were under extreme scrutiny by the Marcoses.
Many banks refused to extend credit for fear of government retaliation. Only Chinabank
Chinabank
China Banking Corporation , known publicly as China Bank is Philippines' fourth largest universal bank by market capitalization. Established in 1920, it is the first privately-owned commercial bank in the Philippines. It is likewise the first bank in Southeast Asia to process deposit accounts...
of Binondo, whose owners Don Pepe assisted when they themselves were just starting out, defied the government and helped him. (His granddaughter Victoria Eliza Cojuangco Aquino or Viel, would later marry into this banking family now headed by former Ambassador to the Vatican
Holy See
The Holy See is the episcopal jurisdiction of the Catholic Church in Rome, in which its Bishop is commonly known as the Pope. It is the preeminent episcopal see of the Catholic Church, forming the central government of the Church. As such, diplomatically, and in other spheres the Holy See acts and...
Howard Dee).
His sons Pete and Peping lost the bid to own the Philippine Long Distance Telephone Company
Philippine Long Distance Telephone Company
The Philippine Long Distance Telephone Company commonly known as PLDT, is the largest telecommunications company in the Philippines. PLDT is also the largest company in the Philippines, ranked 1138th in the April 2009 update, and 1080th in the April 2010 update, of Forbes' Global 2000 list...
after it was awarded to Monching Cojuangco, Antonio Meer, and his Ongsiako brother-in-law. (Imelda de la Paz Ongsiako Cojuangco, Monching's wife, was a Blue Lady of Imelda Marcos
Imelda Marcos
Imelda R. Marcos is a Filipino politician and widow of 10th Philippine President Ferdinand Marcos. Upon the ascension of her husband to political power, she held various positions to the government until 1986...
, and wedding sponsor to presidential daughter Irene Marcos Araneta).
His First United Bank
First United Bank
First United Bank, headquartered in Durant, Oklahoma, is the sixth largest bank in the state of Oklahoma with more than $2.05 billion in total assets...
was renamed and was spun off by President Marcos as a front to illegally collect coconut levy funds, hence the reason why United Coconut Planters Bank
United Coconut Planters Bank
The United Coconut Planters Bank, more popularly known by its initials, UCPB, or by its old name, Cocobank, is one of the largest banks in the Philippines, ranking within the top twenty banks in the Philippines in terms of assets. The bank, owing to its name, caters heavily to coconut farmers, but...
is sometimes referred to as Cocobank.
The transportation companies he owned with the Lopa family were also lost to Marcos cronies. Benjamin "Kokoy" Romualdez, brother of Philippine First Lady Imelda Marcos
Imelda Marcos
Imelda R. Marcos is a Filipino politician and widow of 10th Philippine President Ferdinand Marcos. Upon the ascension of her husband to political power, she held various positions to the government until 1986...
, took over the First Manila Management Corp., the mother company of Mantrade (which handled the distribution of Ford Motors and other motor vehicles) and the Pantranco bus company (painted with vibrant hearts of every color, the fleet earned the moniker "Lovebus"), shorty after the death of Cojuangco's business partner, Manuel Lopa, Sr., in 1974. (With his death, the conglomerate lost their immunity from the Marcoses, since Lopa shared a close friendship with Imelda's late uncle, Daniel Romualdez
Daniel Romualdez
Daniel Z. Romualdez was a Filipino politician who served as Speaker of the House of Representatives of the Philippines from 1957 to 1962....
y Zialcita, Speaker Pro Tempore of the Philippine Congress, who died suddenly via a heart attack, a few months before his niece Imelda Marcos
Imelda Marcos
Imelda R. Marcos is a Filipino politician and widow of 10th Philippine President Ferdinand Marcos. Upon the ascension of her husband to political power, she held various positions to the government until 1986...
rose as Philippine First Lady, in 1965.) Lopa's son (and Cojuangco's son-in-law), Ricardo "Baby" Lopa, was then ousted from the company.
Cojuangco no longer controlled the Bank of Commerce
Bank of Commerce
Bank of Commerce, also known as BankCom, Bancommerce and BoC, is a commercial bank and the 15th largest lender by asset in the Philippines. Its headquarters is at the San Miguel Properties Center, No. 7 Saint Francis Avenue, Mandaluyong...
, which was closest to his heart, as it was the first non-agricultural company he founded. Also, it was the last company that, out of family solidarity, he formed insisting that all four branches of the Cojuangco should co-own. His departure from Bank of Commerce
Bank of Commerce
Bank of Commerce, also known as BankCom, Bancommerce and BoC, is a commercial bank and the 15th largest lender by asset in the Philippines. Its headquarters is at the San Miguel Properties Center, No. 7 Saint Francis Avenue, Mandaluyong...
left Don Pepe's psyche bruised and his spirit betrayed.
His lawyer, Juan Ponce Enrile
Juan Ponce Enrile
Juan Ponce Enrile is a Filipino politician. As a protege of President Ferdinand Marcos, he served as Justice Secretary and then Defense Secretary under the Marcos regime. He later became one of the leaders of the 1986 People Power Movement that drove Marcos from power...
, a son of his old friend and attorney, the Spanish mestizo Alfonso Ponce Enrile (father of Armida Siguion Reyna and Irma Potenciano), has since not been able to help him speak to President Marcos even when the latter was the designated Defense Minister.
Neither can his nephew, Danding Cojuangco, a Marcos associate, could do anything to help Cojuangco. He himself comforted his old uncle, saying "Tio Pepe, huwag na po kayong umiyak" (Uncle Pepe, please do not cry).
One of his lasting words to his family was "Kawawa naman si Cory" (Oh how pitiful Cory is!), as he died broken hearted to see this daughter of his harassed and harangued by the Marcos government for being the woman Ninoy Aquino chose as his wife.
In 1979, his last surviving brother, Juan Cojuangco, died. Some of his wealth devolved back to his six nephews and eight nieces. The rest was left to his second wife, Doña Hati, who formed the Cojuangco Aldaba Foundation.
Ten years after Don Pepe's death, in 1986, Cory Aquino would be swept into the presidency of the Philippines, while President Ferdinand Marcos
Ferdinand Marcos
Ferdinand Emmanuel Edralin Marcos, Sr. was a Filipino leader and an authoritarian President of the Philippines from 1965 to 1986. He was a lawyer, member of the Philippine House of Representatives and a member of the Philippine Senate...
, Benjamin Romualdez, Danding Cojuangco, and their extended families, fled to Hawaii and mainland United States.
Present
At present, Don Pepe Cojuangco's male line is preserved through his elder son, Pedro Cojuangco who has five sons. His younger son and namesake Jose Jr. (Peping), has 5 daughters.His grandson through his daughter Corazon, is Senator Benigno Aquino III
Benigno Aquino III
Benigno Simeon Cojuangco Aquino III , also known as Noynoy Aquino or PNoy, is a Filipino politician who has been the 15th and current President of the Philippines since June 2010....
who sat in the Upper House together with Senator Juan Ponce Enrile
Juan Ponce Enrile
Juan Ponce Enrile is a Filipino politician. As a protege of President Ferdinand Marcos, he served as Justice Secretary and then Defense Secretary under the Marcos regime. He later became one of the leaders of the 1986 People Power Movement that drove Marcos from power...
, the former Cojuangco
Cojuangco
Cojuangco is a Filipino surname of Chinese origin Hsu .People with the surname Cojuangco are listed below in alphabetical order.-B:...
family lawyer. With the help of sisters Kris Aquino
Kris Aquino
Kristina Bernadette Cojuangco Aquino , commonly known as Kris Aquino, is a Filipino television and movie personality who gained prominence from her talk shows, game shows, and numerous endorsements. Known as the Queen of All Media and Philippines' Queen of Talk, she is the youngest daughter of...
, Maria Elena Cruz, Aurora Corazon Abellada, Victoria Eliza Dee, plus Antonio Ongsiako Cojuangco, other relatives, Mar Roxas
Mar Roxas
Manuel "Mar" Araneta Roxas II is a former Senator of the Philippines. He is the son of former Senator Gerry Roxas, and the grandson of former President Manuel Roxas and industrialist J. Amado Araneta....
and his family headed by mother Judy Araneta Roxas, and most importantly, numerous volunteers, Noynoy Aquino campaigned and successfully won the Philippine presidency that his mother Cory Aquino once occupied. (One of his opponents was Gilbert Teodoro, Danding Cojuangco's nephew through sister Mercedes).
Hacienda Luisita
Hacienda Luisita
Hacienda Luisita is a 6,435-hectare plantation estate located in Tarlac, Philippines, owned by the Cojuangco family, which includes former Philippine President Cory Aquino and her son, President Noynoy Aquino. It spans various towns in the province...
's ownership is currently being questioned in the media due to proviso verbiage in the sale indicating a land redistribution.
Meanwhile, the Antonio Cojuangco branch lost the Philippine Long Distance Telephone Company
Philippine Long Distance Telephone Company
The Philippine Long Distance Telephone Company commonly known as PLDT, is the largest telecommunications company in the Philippines. PLDT is also the largest company in the Philippines, ranked 1138th in the April 2009 update, and 1080th in the April 2010 update, of Forbes' Global 2000 list...
through a sale brokered by President Joseph Ejercito Estrada.
The two junior branches of the family, the Eduardo Cojuangcos and the Antonio Cojuangcos, still control the United Coconut Planters Bank
United Coconut Planters Bank
The United Coconut Planters Bank, more popularly known by its initials, UCPB, or by its old name, Cocobank, is one of the largest banks in the Philippines, ranking within the top twenty banks in the Philippines in terms of assets. The bank, owing to its name, caters heavily to coconut farmers, but...
(formerly First United Bank
First United Bank
First United Bank, headquartered in Durant, Oklahoma, is the sixth largest bank in the state of Oklahoma with more than $2.05 billion in total assets...
) and the Bank of Commerce
Bank of Commerce
Bank of Commerce, also known as BankCom, Bancommerce and BoC, is a commercial bank and the 15th largest lender by asset in the Philippines. Its headquarters is at the San Miguel Properties Center, No. 7 Saint Francis Avenue, Mandaluyong...
, respectively. However, recently, San Miguel Corporation (chaired by Danding Cojuangco of the Eduardo Cojuangco branch) acquired the controlling interest in Bank of Commerce from the Antonio Cojuangco branch.