"Lessons On Getting Rich" From Forbes 10 Wealthiest Pinoys

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Money magazine Forbes annually comes up with a list of the world's richest men. 

It's an exclusive group populated by the likes of Bill Gates (with a net worth of $76 billion), Mexican mobile mogul Carlos Slim ($72 billion), investment guru Warren Buffett ($58.2 billion), and Facebook's Mark Zuckerberg ($28.5 billion), to name a few.

And of the world's 1,645 men and women in the 2014 billionaire's club, 10 of them are from the Philippines: 

SM's Henry Sy ($13.2B), Asia Brewery's Lucio Tan ($6.1B), Megaworld's Andrew Tan ($4.7B), Solaire Resort & Casino's Enrique Razon Jr. ($4.2B), Robinsons' John Gokongwei Jr. ($3.9B), DMCI's David Consunji ($3.3B),Metrobank's George Ty ($3.2B), Jollibee's Tony Tan Caktiong ($1.7B), PGA Cars' Robert Coyiuto Jr. ($1.5B), and Filinvest's Andrew Gotianun($1B).

Not your usual bunch of buddies who offer you love advice, that's for sure.

For sound advice regarding the rules of raking in the riches though, we can't go wrong following their footsteps.


Because, really now, who here doesn't want to get the dough? And for starters, we can learn from these 10 moguls about wealth accumulation. I scoured the web for their words of wisdom and here's what we came up with, and hope to apply in our own lives:

1) Henry Sy in a 2009 interview with The Philippine Star tells us about his one big rule in conducting business: 

"I would not classify this as a secret to success, but one of my lifelong practices is to pay my obligations on time, especially my suppliers. Even in my early years as retailer, I didn't delay my payments to suppliers, because I tell my kids that we have to be considerate to suppliers and think of their own 'hinyong' or how they have to protect their sense of trustworthiness with others.

If it's time to pay others on Monday, we would already deposit the money in their bank accounts on Friday, so they need not even come to our office to collect."

"Always pay your debts on time."

2) Lucio Tan's business demeanor as described in an excerpt from a piece written by Philstar.com’s Wilson Lee Flores:

"The day after 'rags-to-riches' taipan Lucio C. Tan’s PNB-Allied-BPI deal news came out, Financial Timesinterviewed me and I commented that Lucio Tan has proven he is a strategic genius with his wise, emotionless and bold business maneuvers.

Why do I say emotionless? I’ve heard of Lucio Tan in past years decisively removing siblings, a maternal uncle and even some of his own kids from his major companies due to loss of confidence or other reasons. And now, the taipan is cohabiting with his perceived biggest archrivals and letting them even manage his prized assets!"

"Hindi basta kamag-anak, pagkakatiwalaan mo na."

3) Philstar.com's quick chat with Andrew Tan reveals a secret activity that all of us really should be doing more: 

"Philstar: What time do you usually wake up?
Andrew Tan: I wake up at 5 a.m. And the first thing I do is read.
Philstar: What time is bedtime?
Andrew Tan: I sleep at 11 p.m. And the last thing I do before sleeping? I also read."

"Mga bata, matulog ng maaga, at wag puro love at kalokohan ang binabasa!"

4) Philstar.com's Wilson Lee Flores shares one of Enrique Razon Jr.'s success secrets: 

"Bradley Stone (an American business journalist) said that one of Razon’s favorite sports is kite boarding, which is now in the Olympics. Stone said, 'When one hits a wave, you can fly as high as 30 feet above the sea. Razon is similar to the adventurous British billionaire Richard Branson of the Virgin Group in this aspect of life.He lives life.'

"Magtipid ng tama, mag-enjoy rin paminsan-minsan."

5) An inspiring excerpt from John Gokongwei Jr.’s speech at the 20th Ad Congress in 2008:

"The important thing to know is that life will always deal us a few bad cards. But we have to play those cards the best we can. And WE can play to win!

This was one lesson I picked up when I was a teenager. It has been my guiding principle ever since. And I had 66 years to practice self-determination. When I wanted something, the best person to depend on was myself."

"Fate can sometimes put you in a bad situation, but it's rarely ever so bad that an ample serving of determination can't get you out of it."

6) GMAnetwork.com's interview with David Consunji tells us a classic tip:

"Watch your spending. 'Sabi ng ama ko,' Consunji said, 'huwag mong gayahin ang masamang ugali ng mga tao.' His father told him to always keep in mind the adage: 'Ubos-ubos biyaya; pag-naubos, nakatunganga.'

Saving is an integral part to accumulating wealth, but it doesn’t always mean going the full Scrooge McDuck. Consunji encouraged viewers to keep a simple lifestyle and avoid buying more than what they need. Despite having enough wealth to afford the most exquisite cuisine in the world, Consunji said his breakfast remains ordinary: he prefers to start his day with cornflakes, tuyo, paksiw, or torta."

"Let's all stick to our tortang talong breakfast!"

7) Philstar.com's Wilson Lee Flores interviews George Ty about how to make it: 

"George Ty: Do you know who was the world’s No. 1 hero during World War II? British Prime Minister Winston Churchill was once invited to make a speech at a school, and you know what he said? He addressed the students: 'Never, ever, ever, ever, ever, ever, ever, give in. Never give in. Never give in. Never give in.' Then he sat down.

It has always been my personal conviction that you don’t just give up. Never give up. This is easy to say, but hard to do."

"In case the quote doesn't quite hammer the point, well, here: Never, ever give in, bro!"

8) An article about Tony Tan Caktiong and Jollibee's success story reveals that success is something that's shared: 

"When asked what’s the secret of Jollibee’s success, Tony says: 'If you have to ask, the secret of Jollibee’s success is sharing. We share our success with people; we give good compensation; we share any honor that comes our way. Actually, this idea of sharing didn’t come from me. It came from a friend. He said: You know why you’re successful? You know how to share. A lot of people do not share, but in Jollibee you share a lot with your people.'”

"Share your blessings."

9) Andrew Gotianun Sr.'s business history reveals that you have to be brave enough to change lanes:

"Gotianun Sr. spent his teenage years salvaging ships in the Visayas, and by 20, he found himself as the head of his family. The shipping venture was volatile though so he and his wife, Mercedes, went into second-hand car financing, which soon became the Filinvest Credit Corporation. In the '70s, it was one of the biggest financial institutions in the country.

And then in the late '80s, with the changing economic climate, Gotianun bet on real estate and transformed Filinvest into a real estate company. It enjoyed a head start over other real estate companies and now remains as one of the leaders in the industry."

"Change with the times."

10) Wise words from Robert Coyiuto Jr. on giving back to the country, as reported in Businessmirror.com.ph: 

“'Everyone dreams of achieving something great in their lives. The Porsche Training and Recruitment Center Asia was created to help the underprivileged Filipino youth reach those dreams. Our mission is to provide quality Porsche technical training for the youth and ensure that they have jobs that will empower them to achieve more,'” said Robert Coyiuto Jr., chairman of PGA Cars Inc."

"'...just as the winning 911 DNA is in every Porsche, we want to infuse this DNA into each of the graduates. With this in mind, the PTRCA is no ordinary automotive school. It is a school that makes the sports cars of mechanics and the most sought-after individuals in the industry.'”

"Before you get the money, you gotta get the skills."

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➥ Marvin Marcelo

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