|January 05, 1953
|Manila, Philippines, Philippines
|Tony Tan Caktiong age
|70 YEARS OLD
|Chiang Kai Shek College
|University of Santo Tomas
|Founder and chairman of Jollibee, co-chairman of DoubleDragon Properties
|Grace A. Tan Caktiong
Tony Tan Caktiong, a renowned figure in the fashion and retail industry in the Philippines, is projected to possess a staggering net worth of approximately $1.2 billion by 2024. As a prominent entrepreneur, Tony Tan Caktiong has not only revolutionized the retail landscape but also etched his name as a successful businessman. With his astute business acumen and strategic vision, he has established a prominent presence in the fashion industry, capturing the hearts of many Filipino consumers. As the founder and chairman of a widely recognized retail brand, Tony Tan Caktiong's net worth continues to soar, solidifying his position as one of the wealthiest individuals in the country's business sphere.
Tan founded the fast food chain Jollibee in 1978, after having started it as an ice cream parlor in 1975. Through expansion and acquisitions of Greenwich Pizza Corp. which 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. As of August 2008, Tan's Jollibee has a total of 1,480 stores worldwide including Jollibee, Red Ribbon, Chowking, Greenwich, Manong Pepe's and Mang Inasal.
In 2012, Tan, through his holding company, Honeystar Holdings Corporation, invested in Injap Land Corporation, a property company founded by Edgar Sia II. With Tan's entry, the company was renamed DoubleDragon Properties Corporation.
As of November 2015, Forbes estimated his net worth at US$4.1 billion.