Raising corporate leaders
In the Philippines, the influence of prominent families extends well beyond politics.
The Zobel de Ayala family, whose patriarch, Jaime Zobel de Ayala Sr., built a vast business empire, presents a fascinating case.
While his son’s specific role continues to evolve, Ayala Corporation undeniably carries the Zobel legacy.
The Zobel de Ayala clan, led previously by Jaime Zobel de Ayala, saw his son, Jaime Augusto Zobel de Ayala, take the helm of Ayala Corporation, one of the Philippines’ largest conglomerates.
Similarly, Henry Sy, the retail magnate who built the SM Group, positioned his daughter, Teresita Sy-Coson, as a key figure within the company.
Sy-Coson is vice chairperson of SM Investments, one of the country’s largest conglomerates.
She is the eldest child of the group’s founder. Her SM experience spans retail merchandising, mall development and banking. She also serves as chairperson of BDO Unibank, a retail bank.
Breaking the mold: Forging new paths
However, not all the children of successful figures choose to follow the same path. Enrique “Endika” Aboitiz, heir to the Aboitiz family fortune, defied expectations by pursuing a career in social entrepreneurship.
His son, Danel, continues on this path, focusing on renewable energy and social development within the family business.
This demonstrates a willingness to adapt the family legacy to address contemporary challenges.
The story of Andrew Tan and his son, Kevin, is another example. Andrew chairs Alliance Global, a holding company with interests in food and beverage, gaming, hospitality and real estate.
Andrew has also entrusted significant responsibilities to Kevin who became chief executive of Alliance Global and chief strategy officer of property developer Megaworld.
This trend extends to the younger generation of the Zobel family as well. Iñigo Zobel, grandson of Jacobo Zobel and a nephew of Jaime Zobel de Ayala, drew the bulk of his fortune from a stake in San Miguel Corp., a major conglomerate in Southeast Asia.
Iñigo sits on the board of San Miguel and chairs its largest shareholder Top Frontier Investment Holdings. He also has a small stake in Ayala, the family’s listed conglomerate with interests in real estate, finance, telecom and healthcare.
The story of Ricky Razon, a self-made billionaire, and his daughter, Katrina, offers a different perspective.
Enrique Razon chairs the behemoth International Container Terminal Services Inc. (ICTSI) while his daughter, Katrina, is on board her father’s firm.
Katrina is also actively involved in philanthropic initiatives as she is the CEO and founder of KSR Ventures, a firm dedicated to investing in sustainable businesses and social enterprises.
In 2019, KSR Ventures invested $600,000 in the agri-tech startup NXTLVL Farms, an urban farming company that has since rebranded as Urban Fresh, with Katrina joining its board.
Meanwhile, Reghis M. Romero II, also known as RII, is a businessman who has been referred to as the “Wonder Boy of Pampanga.”
His son, Nathaniel “Nikki” Romero, is involved in large-scale development projects, such as the proposed “Mega Harbour” project in Davao City.