Isidro Consunji: Wealth, Business Empire, and Life Outside Work

When Isidro "Sid" Consunji took over his father, construction magnate David Consunji, in the family business, he ended up taking DMCI Holdings to new heights. What was once a construction-focused entity turned into a diversified engineering conglomerate.

Consunji's rise to the top of the real estate industry is a story of resilience and out-of-the-box creative thinking. DMCI Holdings and Semirara Mining and Power Corporation have achieved blue-chip status have achieved blue-chip status. The three arms make up a combined market capitalization of P240 billion. And right there in the middle to stir the ship is Consunji.

The President and CEO of DMCI Holdings, Consunji has built on the legacy of his father and coupled that with some transformative business pursuits of his own. Here's everything we know about Isidro Consunji.

Net worth (Consunji and siblings): $2.9 billion (P161.8 billion)

Age: 74

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In His Youth

Born on January 15, 1949 in Manila, Isidro Consunji is the eldest son out of the eight children of the late construction magnate David M. Consunji. As the son of one of the most recognizable names in the business, the young Consunji had always taken a keen interest in the company's operations.

When he took a break from his Civil Engineering studies at the University of the Philippines-Diliman, he wound up working in a motor pool section of DMCI at just 18 years old. He would take care of the trucks and cranes the group had rented out. Among his other tasks as a young protege was buying spare parts in Binondo and doing rounds of surplus shops and junk yards.

Once he got back to school, he would finish his degree although he has noted that he never got his diploma. Consunji slowly worked himself into the swing of things as a businessman. He would first get into the logging business, running his own company. But when a landslide totaled the barracks at one of his projects, he would choose to help his father instead.

Consunji's Business Empire

Consunji always had some big shoes to fill, considering that DMCI Holdings had already been an established property developer since 1954.

DMCI would start expanding to other regions, including Davao, where the younger Consunji would get his start. For the next 14 years of his life, he wound up in construction, becoming Vice President of the company. In 1995, DMCI would officially join the real estate market with the opening of DMCI Homes, Inc. It would be publicly listed on the stock exchange and would usher in a new era for the family's further pursuits.

Unfortunately, the Asian financial crisis of 1997 would present DMCI Homes' biggest hurdle. This was when DMCI was on the brink of bankruptcy as it couldn't meet its loan obligations. Surely enough, however, Consunji would make sound leadership and strategic decisions, focusing on transforming idle lands into affordable condominiums. This move would help repay the company's loans and set the course for a bigger portfolio to come, including interests in mining, power, and water services, among others.

By the early 2000s, the award-winning businessman would end up diversifying even more. He would acquire Semirara Coal Corporation (now Semirara Mining and Power Corporation), entering the mining space and assuring that DMCI Holdings would have a future outside the construction industry. 

Semirara Mining would eventually transition to profitability soon enough. Meanwhile, DMCI Holdings would become a key player in the greater business landscape for the years that followed.

Consunji's Impact on Philippine Economy and Society

In the past, the billionaire has also been known for aiding schools and public infrastructure projects all over the Philippines. DMCI, of course, has had a long-standing relationship with the University of the Philippines.

For instance, through DMCI Homes, Consunji also once donated P7.5 million for the structure design of the engineering laboratory of the Institute of Civil Engineering at UP Diliman. DMCI is also reportedly participating in five more infrastructure programs under the “Build Better More” of the Marcos administration.

Apart from these, among the more recent efforts of Consunji is donating a 2000 kN universal testing machine to the Construction Materials and Structures Laboratory of the UP Institute of Civil Engineering. The system also came with a generous donation of modern laptop computers and top-of-the-line laboratory furniture.

Outside the Boardroom

Consunji's other siblings, namely Josefa, Jorge, Luz, Maria Cristina, and Maria Edwina, would inherit much of their father's fortune. Each would go on to hold various positions in the company and its subsidiaries. Meanwhile, his eldest son, Victor Consunji, works as a director for DMCI and would go on to develop M Residences. He entered into a high-profile marriage with beauty queen Maggie Wilson. The marriage would eventually fall apart.

According to reports, Consunji was also appointed by the president to the board of trustees of the Cultural Center of the Philippines.