McDonald’s to Megaworld: Who is Andrew Tan? Meet the Chinese immigrant who became a fast food and brandy billionaire in the Philippines
This poor boy who spent his childhood in Hong Kong now has a net worth of US$1.9 billion and is chairman of a company with interests in food and beverage, gaming and real estate
As the Philippines’ seventh wealthiest individual, Dr Andrew L Tan continues to reap the fruits of his labour. According to Forbes, the Chinese-Filipino billionaire sits at a net worth of US$1.9 billion.
He is the chairman of Alliance Global Group, a key investor in the Golden Arches Development Corporation which is master franchise holder of McDonald’s in the Philippines. As the son of a factory worker, Tan’s success was not served to him on a silver platter.
Find out more about the rags-to-riches story of this Chinese immigrant who thrived in a foreign land.
His background
The son of immigrants from the Chinese province of Fujian, Tan and his family moved to Hong Kong when he was still a child. They lived in a one-bathroom tenement apartment shared with four other families. The family then transplanted themselves to Manila, the Philippines, where his father worked in a transistor radio factory.
A degree in accounting
Tan graduated with flying colours from the University of the East in Manila despite all the financial hurdles. As an accounting student, he would come up with numerous ways to save money – walk to school, eat the cheapest lunch, offer tutorial services and sell anything under the sun to his classmates. He was a hustler even at a young age.
The beginning of his empire