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Philippine beer tycoon allied with late dictator dies

ArnoldZArnoldZ PEx Influencer ⭐⭐⭐
edited June 18 in Local and Foreign Issues

Philippine beer tycoon allied with late dictator dies

JIM GOMEZ
Associated PressJune 17, 2020
Philippine beer tycoon allied with late dictator dies
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MANILA, Philippines (AP) — Philippine tycoon Eduardo “Danding” Cojuangco Jr., a key ally of the late dictator Ferdinand Marcos and a low-key businessman who led a food and beverage empire that produced San Miguel beer, has died. He was 85.

San Miguel Corp. said Cojuangco, who served as its chairman and chief executive officer for decades, died Tuesday night, without providing other details. Presidential legal counsel Salvador Panelo said Cojuangco died of pneumonia and heart failure in a hospital in Manila.

Cojuangco had a net worth of $1.1 billion, according to Forbes’ list of the world’s billionaires, with interests in cement-manufacturing, orchards, a stud farm and Australian wineries, aside from San Miguel. San Miguel, one of Southeast Asia’s largest conglomerates, with a workforce of more than 28,000 people, has ventured into fuel and oil, power and infrastructure.

Aside from business, Cojuangco delved into politics and sports, and owned three teams in the Philippine Basketball Association, Panelo said.

“His impact on many other areas of Philippine life — sports, philanthropy — add to his rich and enduring legacy,” San Miguel said in a statement.

President Rodrigo Duterte’s spokesman, Harry Roque, expressed deep sadness over Cojuangco’s death and cited San Miguel’s contribution to the economy and help in dealing with the coronavirus pandemic in the country.

But Cojuangco had also been mired in controversy.

He fled from the Philippines when Marcos was overthrown by an army-backed “people power” revolt in 1986. During his years in exile, he was known to have traveled to the United States and Australia, where he bred thoroughbred racehorses.

Cojuangco had been linked to the 1983 assassination of a key anti-Marcos politician, former Sen. Benigno Aquino Jr., but the allegation has never been proven and Aquino’s family later said he was not involved. The brazen killing of Aquino while in military custody at Manila’s international airport sparked massive street protests that culminated in a failed coup and the 1986 uprising that toppled Marcos, his family and cronies, including Cojuangco.

Aquino’s wife, Corazon Aquino, who was Cojuangco’s estranged cous²in, was hailed as a democracy icon amid the anti-Marcos protests and succeeded Marcos.

Cojuangco had also been accused of involvement in the misuse of large amounts of coconut levy funds during the Marcos years that were intended to develop the country’s coconut industry. He has denied any wrongdoing and has never been convicted amid allegations of illegally amassing wealth during the Marcos era.

In the 1960s, Cojuangco served as governor of the northern Philippine province of Tarlac, the base of the Cojuangco clan, which has interests in sugarcane plantations. After returning to the Philippines following Marcos’s downfall, he ran for president in 1992 under the Nationalist People’s Coalition but lost, although the political party he founded has remained an influential political bloc.

Cojuangco backed the successful presidential bid of Joseph Estrada in 1998, the year he regained the chairmanship of San Miguel. Estrada was forcibly removed amid massive protests halfway into his six-year term and was convicted of plunder years later.

https://www.yahoo.com/news/philippine-beer-tycoon-allied-dictator-094015486.html

Pneumonia and heart disease, thé two common underlying conditions that COVID-19 patient succumbs to.

Cojuangco is not the real beer tycoon! The Sorianos are the original beer tycoons!


Marcos confiscated the San Miguel Corporation from the original owners and turned it over to the Cojuangcos!

Give back to the Sorianos what are rightfully theirs


Comments

  • joerizjoeriz PEx Influencer ⭐⭐⭐
    This is sad and pathetic. More than a dozen PEx viewers and no condolences.
    RIP and çondolences to family,loved ones and friends
  • Herr_StarrHerr_Starr PEx Influencer ⭐⭐⭐
    joeriz said:
    This is sad and pathetic. More than a dozen PEx viewers and no condolences.
    RIP and çondolences to family,loved ones and friends
    Let us remember the good Danding did, but let us not forget the suffering he caused. His name is one that was writ in stone, and not for all the right reasons.
  • joerizjoeriz PEx Influencer ⭐⭐⭐
    edited June 20
    Nevertheless, there are still thousands of employees who are able to put a roof over their families, food on the table and education for their children......
    If you cannot utter words of kindness for his soul....
    It's official then, PExers have lose their moral ethics and their humanity.

    "The evil that men do lives after them...
    The good if oft' interred with their bones..."
  • Herr_StarrHerr_Starr PEx Influencer ⭐⭐⭐
    joeriz said:
    Nevertheless, there are still thousands of employees who are able to put a roof over their families, food on the table and education for their children......
    If you cannot utter words of kindness for his soul....
    It's official then, PExers have lose their moral ethics and their humanity.

    "The evil that men do lives after them...
    The good if oft' interred with their bones..."
    Citing that consummate politician Mark Antony is hardly the way to win friends and influence people.

    On one hand I admire Danding, he was a good businessman, and as you said, its a great loss; at the same time, there are many thousands he put into misery. 

    Cojuangco, with Juan Ponce Enrile, were involved with the Coco Levy Fund Scam, which taxed small farmers with the promise of shares in the coconut investment company (Cocofund). However, farmers benefitted nothing from this levy, as the middle-men did not return receipts that proved they paid the coconut levy and were entitled to equity in the company.


    Even you cannot disagree with that statement. 

    When a man dies, the best we can do is look at him honestly...Do not gloss over the sins, and do not praise excessively. 
  • joerizjoeriz PEx Influencer ⭐⭐⭐
    .....never send to know for whom the bell tolls, it tolls for thee.......
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