Lucio Tan Jnr, son of Philippine-Chinese billionaire, dies aged 53

Lucio “Bong” Tan Jnr, the son of a prominent Philippine-Chinese billionaire and president of PAL Holdings, which is the listed parent of Philippine Airlines, died on Monday, days after collapsing during a basketball game.

The younger Tan succumbed to brain herniation, The Philippine Star newspaper reported. He was taken to hospital on Saturday after collapsing during a basketball game.

Tan is the son of Lucio Tan Snr, one of the richest men in the Philippines with a fortune estimated around US$4.4 billion according to Forbes magazine.

Chinese-born Philippine billionaire John Gokongwei Jnr, founder of Cebu Air, dies aged 93

The late Tan, 53, on October 28 assumed the position of president and chief operating officer at PAL Holdings. He was also the president of Tanduay Distillers and Eton Properties Philippines, as well as serving as director of LT Group and Philippine National Bank. Tan is survived by his wife and two children.

“His untimely passing leaves a big void in our hearts and our group’s management team which would be very hard to fill,” the Tan family said in a statement, according to Philippine news website Rappler.

Local media reported the Tan family has business interests in real estate, banking, tobacco and beverages.

The Philippine Daily Inquirer said Bong Tan was educated in Manila, Singapore, China and the US, where he earned a degree in Civil Engineering from the University of California, Davis and a Master of Business Administration from the Kellogg School of Management of Northwestern University.

Tan was a known basketball fan, often organising company sporting events where he played alongside employees. In September, he was named coach of the basketball team of the family-owned University of the East.

Tan’s death was reported just days after Philippine-Chinese billionaire John Gokongwei Jnr, a peer of Lucio Tan Sr, died over the weekend at the age of 93.

Born in Fujian, China, and raised in Cebu province in the Philippines, Gokongwei started working in his early teenage years after his father died, riding his bike to sell peanuts and knick knacks in neighbouring towns across the island to provide for his five siblings. That laid the foundation for a business acumen that helped build a US$3.4 billion fortune, making him one of the country’s wealthiest people, according to the Bloomberg Billionaires Index.

Additional reporting by SCMP’s Asia desk