Danding Cojuangco

Eduardo Cojuangco Jr.
Born	Eduardo Murphy Cojuangco Jr. (1935-06-10) 10 June 1935 Philippines
Died	16 June 2020(2020-06-16) (aged 85) St. Luke's Medical Center – Global City, Philippines
Other names	Danding Cojuangco
Occupation(s)	Entrepreneur, politician, ambassador
Known for	Chairman and CEO of San Miguel Corporation; Governor of Tarlac; Philippine ambassador
Notable work	Founder of Nationalist People's Coalition

Eduardo "Danding" Murphy Cojuangco Jr. (June 10, 1935 – June 16, 2020) was a prominent Filipino entrepreneur and political figure. He held the positions of chairman and CEO at San Miguel Corporation, recognized as the largest food and beverage enterprise in both the Philippines and Southeast Asia. Additionally, Cojuangco served as a Philippine ambassador and governed the province of Tarlac. By 2016, his net worth was approximated at US$1.16 billion, and at one time, his business holdings accounted for nearly a quarter of the nation's gross national product.

Early life and education

Born on June 10, 1935, Eduardo Murphy Cojuangco Jr. was the firstborn child of Eduardo Chichioco Cojuangco and Josephine B. Murphy. He completed his secondary education at De La Salle College, followed by studies at UP Los Baños and California Polytechnic State University, San Luis Obispo for his tertiary education.

Life during the Marcos administration

Cojuangco's intimate association with President Ferdinand E. Marcos established him as one of the most powerful "cronies" within the regime and a leading business magnate in the country.

Role during Martial Law

As the only civilian member of the "Rolex 12"—the inner circle responsible for implementing Martial Law in 1972—Cojuangco played a significant part in Marcos' government. Although accused by a convicted military officer of orchestrating the assassination of Benigno Aquino Jr., he has been publicly cleared by Aquino’s daughter, Kris.

Coco Levy Fund controversy

Cojuangco was involved in the prolonged Coco Levy Fund controversy, centered on funds amassed through a government-imposed tax on copra sales between 1973 and 1982 during Marcos' rule.

The initiative he led aimed to advance the Philippine coconut sector. Nevertheless, allegations arose that these funds, pooled within the United Coconut Planters Bank (UCPB), were misappropriated to benefit private interests linked to the Marcos family and their affiliates. The government contended that Cojuangco utilized these resources to secure a 72.2% controlling interest in UCPB in 1975 and approximately 47% ownership in San Miguel Corporation (SMC) by 1983, acquired through two transactions involving about 20% and 27% stakes respectively. The levy proceeds also supported the purchase of six oil mills.

In 1983, Cojuangco obtained a 20% share in SMC, which the Presidential Commission on Good Government later determined had been bought using coco levy funds along with UCPB financing. An additional 27% stake was held through the Coconut Industry Investment Fund Oil Mills Group (CIIF), financed by these levy collections. Following the overthrow of Marcos in 1986, these assets were seized by the commission. In April 2011, the Philippine Supreme Court upheld Cojuangco's ownership of the initial 20% SMC shares (adjusted to around 17% due to corporate expansion), acquired via a loan from UCPB.

In September 2012, the Supreme Court declared that the CIIF-held 27% SMC shares (lowered to 24%) belonged to the government and mandated that dividends derived from these shares be allocated to coconut farmers. Subsequently, SMC repurchased this government stake for P57.6 billion later that year, concluding a 26-year period during which the government maintained substantial voting influence in the corporation.

In November 2012, a ruling also established that a controlling interest of 72.2% in UCPB was state-owned as it was procured using coco levy funds. This included a 7.22% portion registered under Cojuangco’s name—which he asserted was compensation for facilitating UCPB’s acquisition in 1975—and involved transferring the remaining 64.98% stake to the Philippine Coconut Authority (PCA).

Political involvement following 1986

Following the removal of Ferdinand Marcos during the 1986 People Power revolution, Cojuangco accompanied the Marcos family into exile, leaving on February 25, 1986. He spent the majority of his time abroad in Australia, focusing on breeding and racing horses before making his return in 1989.

In 1992, he established the Nationalist People's Coalition to back his presidential campaign in the 1992 election. He secured third place with 18.2% of the vote, trailing behind victor Fidel V. Ramos who garnered 23.6%, and Miriam Defensor Santiago who obtained 19.7%. Although he contemplated entering the 2004 presidential race, he ultimately decided to withdraw. As chairman emeritus of the NPC, he retained considerable sway in Philippine politics and was widely regarded as a pivotal "kingmaker."

Contributions to sports

Cojuangco was a notable supporter of basketball from the 1980s onward, promoting the sport through his Northern Consolidated team. Through San Miguel Corporation, he held ownership of three Philippine Basketball Association franchises: the flagship San Miguel Beermen, Barangay Ginebra San Miguel, and Magnolia Hotshots. Moreover, he was an advocate for the De La Salle Green Archers men's basketball squad.

He also played a foundational role as chairman of the Philippine Racing Commission, managing horse racing activities between 1975 and 1978.

Personal background

As the firstborn of Eduardo C. Cojuangco Sr. and Josephine B. Murphy, Cojuangco's heritage included Irish-Canadian roots from his mother, who was raised in Baguio, and Chinese Filipino ancestry from his father.

He was married to Soledad "Gretchen" Oppen from Negros Occidental, with whom he had four children: Margarita "Tina" Cojuangco Barrera, Luisa "Lisa" Cojuangco-Cruz, Charlie Cojuangco, and Marcos "Mark" Cojuangco. Despite later separating, they remained legally wed. In 2018, reports surfaced that Cojuangco was residing with Aileen Damiles, the 1996 Binibining Pilipinas Universe titleholder, along with their two daughters.

Passing

Cojuangco passed away on June 16, 2020, at St. Luke's Medical Center – Global City due to heart failure complicated by pneumonia, just six days after celebrating his 85th birthday.

Enduring impact

On April 29, 2022, President Rodrigo Duterte enacted Republic Act No. 11729, designating June 10 as a special public holiday in Tarlac named Danding Cojuangco Day.

In March 2024, under Republic Act No. 11988 signed by President Bongbong Marcos, the Urdaneta City Bypass Road in Pangasinan was renamed Ambassador Eduardo 'Danding' M. Cojuangco Jr. Avenue.

Furthermore, on May 10, 2024, Filoil EcoOil Sports announced that the upcoming 2024 Filoil EcoOil Preseason Cup would be dedicated in his honor.