Movers

Jon Ramon Aboitiz, Chair of Aboitiz Equity Ventures, Dies at 70

Aboitiz ranked 33rd in the Forbes list of richest Filipinos.
IMAGE Jennifer Balboa for Entrepreneur Philippines
Comments

Jon Ramon Aboitiz, the chairman of Aboitiz Equity Ventures (AEV), passed away on Friday, November 30, multiple news sources quoting family sources confirmed. He was 70 years old.

As one of the pillars of AEV, Aboitiz helped steer the company to become one of the country’s most valuable family conglomerates, with interests in power, banking and financial services, food, infrastructure, real estate, shipbuilding and others. 

In 2017, AEV was one of only eight Philippine companies in Forbes Global 2000, an annual ranking of the world’s biggest corporations based on sales, profit, assets and market value. The company was ranked 1,793rdwith global sales of $2.5 billion.

As of November 29, 2018, AEV’s market capitalization stood at just under Php307 billion. Along with his brother Mikel, Aboitiz himself was ranked 33rdin Forbes' most recent list of richest Filipinos, with an estimated net worth of $265 million.

Part of the Aboitiz clan from Cebu, Jon Aboitiz completed a management degree from Santa Clara University in the US and before joining the family business through its shipping subsidiary in 1970. He worked his way up, and was eventually named president of the Aboitiz Group in 1976. He was president and CEO of AEV, the company’s holding company, in 1994 until he was succeeded by Erramon Aboitiz in 2009. He was the company’s chairman of the board until his passing.

Aboitiz was also president of the Ramon Aboitiz Foundation, while his brother Mikel served as its vice president.

Comments
View More Articles About:
Recommended Videos
About The Author
Paul John Caña
Associate Editor, Esquire Philippines
View Other Articles From PJ
Comments
Latest Feed
 
Share
Here are the origins of some Filipino slang used in the past 50 years.
 
Share
On December 26, a solar eclipse will be visible for three hours and 15 minutes.
 
Share
Meanwhile, America's torture aficionados have gone on to cozy careers in journalism and academia and the courts.
 
Share
Reports say the company has yet to make money three years after its inception
 
Share
Add the Torsion X and ZX Torsion to your Christmas wishlist.
 
Share
Offering sea-and-sky views and an abundance of food and drink, the new restaurant and bar is the best place to unwind.
 
Share
Because how else would a distillery celebrate an anniversary?
 
Share
The traditional barrel man, made from Mahogany and by woodcarvers on Asin Road, is now on a made-to-order basis.
 
Share
If you’re stuck here for the holidays, you might as well spend it somewhere with colder climes.
 
Share
Load More Articles
Connect With Us