Roberto Ongpin
Roberto Velayo Ongpin | |
|---|---|
| Born | 6 January 1937 Pinaglabanan, San Juan, Rizal, Philippines |
| Died | 4 February 2023 (aged 86) |
| Occupation(s) | Entrepreneur, Businessman, Government official |
| Known for | Minister of Commerce and Industry of the Philippines; Founder and chairman of Alphaland Corporation |
Roberto Velayo Ongpin (January 6, 1937 – February 4, 2023) was a prominent Filipino entrepreneur and served as Minister of Commerce and Industry during the Marcos regime. His younger sibling, Jaime Ongpin, held the position of Minister of Finance under President Corazon Aquino.
According to Forbes' 2018 list of the world's wealthiest individuals, Ongpin ranked as the twelfth richest person in the Philippines, with an estimated net worth of US$3.72 billion, improving from sixteenth place in the prior year.
Early life and education
Born on January 6, 1937, Ongpin was the second child among seven siblings of Luis Roa Ongpin and Lourdes Morales Velayo. He was raised in Pinaglabanan, San Juan, which was then part of Rizal province. Descended from Román T. Ongpin, a distinguished businessman and philanthropist, the Ongpin family is acknowledged as one of the Philippines’ most influential due to their significant role in national progress.
He received a scholarship to attend Ateneo de Manila, where he completed his secondary education before earning a Bachelor of Science degree in Business Administration with honors (cum laude) in 1957. The following year, he became a Certified Public Accountant (CPA) and briefly worked at Philippine Manufacturing Company, now known as Procter & Gamble Philippines.
In 1961, Ongpin obtained his MBA from Harvard University, during which time he met his wife, Monica Arellano from Valparaiso, Chile. Together they had two children: Stephen Arellano Ongpin and Anna Arellano Ongpin. Additionally, he fathered two other children from different relationships and had three grandchildren.
Sycip, Gorres, Velayo & Company
Upon returning to the Philippines in 1963, Roberto V. Ongpin was invited by his uncle Alfredo Velayo to join Sycip Gorres Velayo & Company (SGV), the nation’s largest multidisciplinary professional services firm. Washington SyCip, SGV’s founder, regarded Ongpin as "one of the most aggressive and effective managers" he had encountered. By 1966, before turning 30, Ongpin had advanced to managing partner and remained with SGV until 1979.
Minister of Trade and Industry
At age 42 in 1979, President Ferdinand E. Marcos appointed Ongpin as the youngest Minister of Commerce and Industry in Philippine history. His seven-year term was marked by economic difficulties amidst political unrest and restricted international financial support. Ongpin personally secured funding agreements with global leaders such as the Sultan of Brunei, Malaysian Prime Minister Mahathir Mohamad, Singaporean Prime Minister Lee Kuan Yew, and Iraqi President Saddam Hussein.
During the 1984 debt and foreign exchange crisis—which saw the black market exchange rate soar to Php 30 per US Dollar compared to the official rate of Php 14—Ongpin introduced the "Binondo Central Bank," a dual exchange rate mechanism that stabilized the peso by enabling government intervention in black market currency trading.
1986 People Power Revolution
On February 22, 1986, while preparing for discussions involving President Marcos and U.S. officials, Ongpin realized his military escorts had been withdrawn. His attempts to contact Defense Minister Juan Ponce Enrile inadvertently alerted Enrile that Marcos was aware of an impending coup attempt. This revelation prompted Enrile’s defection from the government and ignited the People Power Revolution that eventually brought Corazon C. Aquino to power.
Belle Corporation and Atok-Big Wedge
Following the collapse of the Marcos administration, Ongpin concentrated on expanding his business portfolio. He co-established Belle Corporation alongside Benito Tan Guat and took on the role of CEO, managing the execution of its premier project, Tagaytay Highlands. Additionally, Ongpin was chairman of Atok-Big Wedge, Inc., a diversified investment holding firm with interests spanning mining, real estate, manufacturing, and financial services.
Alphaland
Ongpin maintained a 94% ownership stake in Alphaland and served as chairman for both Alphaland Balesin Island Club, Inc. and City Club at Alphaland Makati Place, Inc. Alphaland was responsible for developing the Balesin Island Club, an upscale resort located in Quezon Province, as well as the Php 8 billion City Club complex in Makati, which includes high-rise towers, a shopping mall, and a 3-hectare facility catering to leisure and business activities. The company also operates Alphaland Aviation, Inc., providing charter flights to Balesin Island. In September 2017, Ongpin unveiled Alphaland Baguio Mountain Lodges, a luxury residential project valued at P5 billion comprising 300 homes in Baguio, which officially opened in 2018.
PhilWeb
In 1979, Ongpin took control of South Seas Oil and Mineral Exploration Co. Inc., a mining enterprise established in 1969. The company transitioned into an internet-focused entity named PhilWeb.Com, Inc. in 2000 after shareholders approved a restructuring plan. By 2002, with SEC authorization, it was renamed PhilWeb Corporation and incorporated gaming as a secondary line of business.
Ongpin stepped down as chairman of PhilWeb in August 2016 following President Rodrigo Duterte's public criticism of oligarchic influence and the directive to cease online gambling activities—the mainstay of PhilWeb’s operations. Ongpin clarified that PhilWeb functioned as a software provider for e-Games managed by the Philippine Amusement and Gaming Corporation (PAGCOR), rather than operating online gaming platforms directly. His departure fueled speculation regarding political pressures amid the nation’s intricate political landscape. Despite this, Ongpin voiced his support for Duterte.
Later on, Ongpin divested his shares in PhilWeb to Gregorio Araneta III, who is married into the Marcos family, reducing political scrutiny and enabling Ongpin to concentrate on other business pursuits.
Other local and international business affiliations
Ongpin became a founding member of the Board of Trustees for the Philippine Institute of Pure and Applied Chemistry (PIPAC) in 1973, endorsing its objectives to deliver chemical testing services, consultancy, technical training, and research and development. He also played a role in funding PIPAC’s facility construction completed in 1984.
His leadership extended to chairmanships at several prominent Philippine enterprises including Philippine Bank of Communications (PBCOM) until 2012; Eastern Telecommunications Philippines, Inc. (2006–2011); La Flor dela Isabela (1996); Sinophil Corporation; RVO Capital Ventures Corporation; Tabacalera Incorporada; Connectivity Unlimited Resource Enterprise, Inc. (CURE) starting in 2006; and Philippine Global Communications, Inc. (PHILCOM) under Belle Corporation’s umbrella. He also held the position of vice chairman at Philex Mining Corporation.
Ongpin served on the boards of numerous companies such as Sinophil Corporation during the 1990s; Araneta Properties, Inc. until 2009; Ginebra San Miguel Corporation from 2010 to 2013; Petron Corporation between 2008 and 2014; San Miguel Corporation from 2009 to 2014; PAL Holdings, Inc., and Philippine Airlines, Inc. during 2012–2014; as well as Makati Shangri-La Hotel & Resort, Inc. from 2003 to 2014.
On an international level, Ongpin was connected with Acentic GmbH until 2017; Developing Countries Investment Corporation; and Dragon Oil plc. His global leadership roles included deputy chairman of the South China Morning Post; vice-chairman at AIA Capital Corporation (Hong Kong); along with non-executive directorships at E2-Capital Holdings Ltd (now CIAM Group Ltd), Forum Energy Plc UK, and Shangri-La Asia Ltd.
Death
Ongpin passed away peacefully in his sleep on February 4, 2023, at the age of 86, while at Balesin Island, Polillo, Quezon. As the founder and chairman of Alphaland Corporation, a leading real estate development firm, he held a significant presence in the industry. His extensive investment interests spanned both real estate and gaming sectors. His departure represented a significant loss to the Philippine business community.