Tan Yu
Encyclopedia
Tan Yu was a Chinese Filipino
philanthropist and real estate entrepreneur who was once the richest man in the Philippines
. In 1997, Forbes ranked him among the 20 wealthiest men on the planet where he had a net worth of about $7 Billion. It was he who established the KTTI Foundation and the Asiaworld International Group.
Originally from Fujian
province in China
, Yu and his family moved to the Philippines at a young age. He began making a living in Camarines Norte
through selling bread buns in the streets and doing some fishing. He once studied in University of St. La Salle
in Bacolod City
and got a degree. He even studied at the New Jersey Institute of Technology
where he also graduated. When he worked as a cashier in Manila, this was where he would established a textile business. At only 18 years of age, he already made a million pesos.
During his life as an entrepreneur, he once planned to convert Fuga and Barit, two northernmost islands in the Philippines which he owned, into places for tourists and businessmen. He once owned more land in the Philippines than even the local government as well as possessing some overseas, totaling $12 billion.
He died of heart failure in Houston, Texas
in 2002 at the age of 75. Jose de Venecia, a house speaker in the Philippines, commended him as a great businessman for providing jobs to a number of Philippine people. Yu was also among those awarded with the Jose P. Rizal Awards for Excellence at the posthumous awards category.
His five children continue to live in the Philippines, Taiwan, and Hong Kong.
Tan Yu III's best friend is James Chen.
Chinese Filipino
A Chinese Filipino derived from two words: "Tsino" and "Pinoy" ) is a Philippine national of Chinese ethnicity but born/raised in the Philippines....
philanthropist and real estate entrepreneur who was once the richest man 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...
. In 1997, Forbes ranked him among the 20 wealthiest men on the planet where he had a net worth of about $7 Billion. It was he who established the KTTI Foundation and the Asiaworld International Group.
Originally from Fujian
Fujian
' , formerly romanised as Fukien or Huguing or Foukien, is a province on the southeast coast of mainland China. Fujian is bordered by Zhejiang to the north, Jiangxi to the west, and Guangdong to the south. Taiwan lies to the east, across the Taiwan Strait...
province in China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
, Yu and his family moved to the Philippines at a young age. He began making a living in Camarines Norte
Camarines Norte
Camarines Norte is a province of the Philippines located in the Bicol Region in Luzon. Its capital is Daet and the province borders Quezon to the west and Camarines Sur to the south.-Demographics:...
through selling bread buns in the streets and doing some fishing. He once studied in University of St. La Salle
University of St. La Salle
The University of St. La Salle , located in La Salle Avenue, Bacolod City, Philippines, is a Catholic private university run by the De La Salle Brothers. Established in 1952 as La Salle College-Bacolod, it is the second oldest campus originally founded by the congregation in the country...
in Bacolod City
Bacolod City
The City of Bacolod , is a highly urbanized midsize Philippine city. It is the capital of the Negros Occidental province. Having a total of 499,497 inhabitants as of August 1, 2007, it is the most populous city in the Western Visayas Region. It is currently ranked as the 17th most populous city in...
and got a degree. He even studied at the New Jersey Institute of Technology
New Jersey Institute of Technology
New Jersey Institute of Technology is a public research university in Newark, New Jersey. It is often also referred to as Newark College of Engineering ....
where he also graduated. When he worked as a cashier in Manila, this was where he would established a textile business. At only 18 years of age, he already made a million pesos.
During his life as an entrepreneur, he once planned to convert Fuga and Barit, two northernmost islands in the Philippines which he owned, into places for tourists and businessmen. He once owned more land in the Philippines than even the local government as well as possessing some overseas, totaling $12 billion.
He died of heart failure in Houston, Texas
Houston, Texas
Houston is the fourth-largest city in the United States, and the largest city in the state of Texas. According to the 2010 U.S. Census, the city had a population of 2.1 million people within an area of . Houston is the seat of Harris County and the economic center of , which is the ...
in 2002 at the age of 75. Jose de Venecia, a house speaker in the Philippines, commended him as a great businessman for providing jobs to a number of Philippine people. Yu was also among those awarded with the Jose P. Rizal Awards for Excellence at the posthumous awards category.
Current
Years after he died, Tan Yu's organization sold the island of Fuga.His five children continue to live in the Philippines, Taiwan, and Hong Kong.
Tan Yu III's best friend is James Chen.