Manuel "Manny" Bamba Villar Jr. (; born December 13, 1949) is a Filipino
billionaire businessman and former politician. He previously served as
senator from 2001 to 2013 and as the
President of the Senate of the Philippines
The president of the Senate of the Philippines ( fil, pangulo ng Mataas na Kapulungan ng Pilipinas or ), commonly known as the Senate president, is the presiding officer and the highest-ranking official of the Senate of the Philippines, and thir ...
from 2006 to 2008. Before his stint in the senate, he represented the district of
Las Piñas
Las Piñas, officially the City of Las Piñas ( fil, Lungsod ng Las Piñas), is a 1st class highly urbanized city in the National Capital Region of the Philippines. According to the 2020 census, it has a population of 606,293 people.
Las Piñas ...
–
Muntinlupa
Muntinlupa, officially the City of Muntinlupa ( fil, Lungsod ng Muntinlupa), is a 1st class Cities of the Philippines#Legal classification, highly urbanized city in the Metro Manila, National Capital Region of the Philippines. According to the ...
from 1992 to 1998, and
Las Piñas's at-large district from 1998 to 2001. He also became the
speaker of the House of Representatives from 1998 to 2000; in this term, he presided over the
impeachment of President
Joseph Estrada
Joseph Ejercito Estrada, (; born Jose Marcelo Ejercito; April 19, 1937), also known by the nickname Erap, is a Filipino politician and former actor. He served as the 13th president of the Philippines from 1998 to 2001, the 9th vice presi ...
. From 2019 to 2022,
Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...
magazine named Villar as the richest individual in the Philippines, with an estimated net worth of $8.3 billion.
Villar was born to a poor family in
Tondo, an impoverished and densely populated district of
Manila
Manila ( , ; fil, Maynila, ), officially the City of Manila ( fil, Lungsod ng Maynila, ), is the capital of the Philippines, and its second-most populous city. It is highly urbanized and, as of 2019, was the world's most densely populate ...
.
After graduating from the University of the Philippines
The University of the Philippines (UP; fil, Pamantasan ng Pilipinas Unibersidad ng Pilipinas) is a state university system in the Philippines. It is the country's national university, as mandated by Republic Act No. 9500 (UP Charter of 20 ...
, he worked as an accountant and financial analyst, then launched a highly successful business in real estate. Villar's companies have built over 200,000 homes, and his business career made him the wealthiest person in the Philippines.
He ran for president in the 2010 presidential elections under the Nacionalista Party, but lost to Benigno Aquino III
Benigno Simeon Cojuangco Aquino III (; February 8, 1960 – June 24, 2021), also known as Noynoy Aquino and colloquially as PNoy, was a Filipino politician who served as the 15th president of the Philippines from 2010 to 2016. The son of ...
.
Early life and education
Manuel Villar was born on December 13, 1949, in Tondo, an impoverished and densely populated district of Manila
Manila ( , ; fil, Maynila, ), officially the City of Manila ( fil, Lungsod ng Maynila, ), is the capital of the Philippines, and its second-most populous city. It is highly urbanized and, as of 2019, was the world's most densely populate ...
. He was the second-born of the nine children of his parents in a poor family.[ His father, Manuel "Maning" Montalban Villar Sr., was a government employee from ]Cabatuan, Iloilo
Cabatuan, officially the Municipality of Cabatuan ( hil, Banwa sang Cabatuan, tgl, Bayan ng Cabatuan), is a 2nd class municipality in the province of Iloilo, Philippines. According to the 2020 census, it has a population of 61,110 people.
It i ...
who worked as an inspector for the Bureau of Fisheries.[ His mother, Curita "Curing" Bamba, was a seafood vendor from a poor family in ]Orani, Bataan
Orani, officially the Municipality of Orani ( tl, Bayan ng Orani), is a 1st class municipality in the province of Bataan, Philippines. According to the 2020 census, it has a population of 70,342 people.
Geography
Orani is from Balanga and n ...
.[ The family lived in a small rented apartment in a run down slum area.][ Villar's father was eventually granted a year-long scholarship for higher education in the ]United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...
, which led to a job promotion to a director position in the Department of Agriculture and Natural Resources upon his return. Due to cramped conditions in Tondo, Villar's father obtained a ₱16,000 loan from the Government Service Insurance System
The Government Service Insurance System ( fil, Paseguruhan ng mga Naglilingkod sa Pamahalaan, abbreviated as GSIS) is a government-owned and controlled corporation (GOCC) of the Philippines. Created by Commonwealth Act No. 186 and Republic Act ...
, payable in 20 to 25 years, to build a home in San Rafael Village, Navotas
Navotas, officially the City of Navotas ( fil, Lungsod ng Navotas), is a 1st class highly urbanized city in the National Capital Region of the Philippines. According to the 2020 census, it has a population of 247,543 people.
It is known as the ...
.[
As a child, Villar initially attended Isabelo delos Reyes Elementary School, a nearby public school in Tondo.] He also assisted his mother in selling shrimp and fish at the Divisoria
Divisoria is a commercial center in between Tondo and Binondo in Manila, Philippines known for its shops that sell low-priced goods and its diverse manufacturing activities. Tutuban Center is situated within the commercial hub along with a night ...
Public Market, as early as age six, in order to help earn the money to support his siblings and himself to school.[ However, accompanying his mother interfered with his education and he was forced to drop out from school during Grade 1.][ He was then enrolled at Tondo Parochial School (later renamed Holy Child Catholic School), a private school in Tondo run by priests, to complete his elementary education.][
Villar finished his high school education at the Mapúa Institute of Technology in Santa Cruz, adjacent to Tondo.] He attended the University of the Philippines Diliman
, image = University of The Philippines seal.svg
, image_size = 175px
, caption = Official Logo of UP Diliman
, motto = Honor and Excellence
, established = February 12, 194 ...
and earned his bachelor's degree
A bachelor's degree (from Middle Latin ''baccalaureus'') or baccalaureate (from Modern Latin ''baccalaureatus'') is an undergraduate academic degree awarded by colleges and universities upon completion of a course of study lasting three to six ...
in business administration in 1970.[ He returned to the same school to earn his ]master's degree
A master's degree (from Latin ) is an academic degree awarded by universities or colleges upon completion of a course of study demonstrating mastery or a high-order overview of a specific field of study or area of professional practice. in business administration in 1973.[ He later characterized himself as being impatient with formal schooling, and eager to start working and go into business.]
Business career
After obtaining his bachelor's degree, Villar began his professional career working as an accountant for Sycip, Gorres, Velayo & Co. (SGV & Co).[ He resigned from SGV & Co. to start his first business, delivering seafood in ]Makati
Makati ( ), officially the City of Makati ( fil, Lungsod ng Makati), is a 1st class highly urbanized city in the National Capital Region of the Philippines.
Makati is the financial center of the Philippines; it has the highest concentration ...
. However, when his largest customer was unable to pay him, he negotiated a debt restructuring of sorts, selling discounted meal tickets to office workers in exchange for receivables.[ He then worked briefly as a financial analyst for the Private Development Corporation of the Philippines, where his job was to sell ]World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Inte ...
loans.[ Wanting to start a business of his own again, he quit his job and availed of one of the loans, which offered attractive rates.][
]
In 1975, with an initial capital of ₱10,000, Villar purchased two reconditioned trucks and started a business delivering sand and gravel for construction companies in Las Piñas.[ This eventually segued into building houses, as Villar took out a seven-year loan from a rural bank offering low interest rates.][ He initiated mass housing projects through ]economies of scale
In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of output produced per unit of time. A decrease in cost per unit of output enables ...
, utilizing the cost advantages of developing a large-scale project in order to bring down housing prices.[ The number of homes built by Villar's companies totaled to over 200,000 units.][
In the 1980s, Villar established Prime Water to operate and maintain water distribution systems throughout the country.] It counts a 25-year partnership with the municipality of Daraga to deliver bulk water, a 25-year joint venture agreement with Lingayen Water District in Pangasinan, and a 25-year joint agreement with the Leyte
Leyte ( ) is an island in the Visayas group of islands in the Philippines. It is eighth-largest and sixth-most populous island in the Philippines, with a total population of 2,626,970 as of 2020 census.
Since the accessibility of land has be ...
Metropolitan Water District among its 30 water projects with local water districts. The Commission on Audit flagged Prime Water's operations in Guagua, Pampanga
Guagua, officially the Municipality of Guagua ( pam, Balen ning Guagua; tl, Bayan ng Guagua), is a 1st class municipality in the province of Pampanga, Philippines. According to the 2020 census, it has a population of 128,893 people.
The town o ...
due to high levels of arsenic in the commission's 2018 annual report. The company produces over 170 million liters of treated water daily, supplied by more than 250 deep wells and surface water resources, and is directly involved in delivering water to more than 150,000 households across the Philippines. Now under the Villar Group of Companies, the water utility firm is led by their eldest son, Paolo.
In 1984, he founded Golden Haven Memorial Park, a chain of cemeteries in the Philippines, started with its first branch in Las Piñas
Las Piñas, officially the City of Las Piñas ( fil, Lungsod ng Las Piñas), is a 1st class highly urbanized city in the National Capital Region of the Philippines. According to the 2020 census, it has a population of 606,293 people.
Las Piñas ...
and expanded in Cebu
Cebu (; ceb, Sugbo), officially the Province of Cebu ( ceb, Lalawigan sa Sugbo; tl, Lalawigan ng Cebu; hil, Kapuroan sang Sugbo), is a province of the Philippines located in the Central Visayas region, and consists of a main island and 16 ...
, Cagayan de Oro, Zamboanga, Bulacan
Bulacan, officially the Province of Bulacan ( tl, Lalawigan ng Bulacan), is a province in the Philippines located in the Central Luzon region. Its capital is the city of Malolos. Bulacan was established on August 15, 1578, and part of the Me ...
, and Iloilo
Iloilo (), officially the Province of Iloilo ( hil, Kapuoran sang Iloilo; krj, Kapuoran kang Iloilo; tl, Lalawigan ng Iloilo), is a province in the Philippines located in the Western Visayas region. Its capital is the City of Iloilo, the ...
. It will also expanded into the businesses of memorial chapel, crematorium
A crematorium or crematory is a venue for the cremation of the dead. Modern crematoria contain at least one cremator (also known as a crematory, retort or cremation chamber), a purpose-built furnace. In some countries a crematorium can also b ...
and columbarium
A columbarium (; pl. columbaria) is a structure for the reverential and usually public storage of funerary urns, holding cremated remains of the deceased.
The term can also mean the nesting boxes of pigeons. The term comes from the Latin "''colu ...
.
In July 1995, Villar's flagship property, C&P Homes, was listed on the Philippine Stock Exchange
The Philippine Stock Exchange, Inc. ( fil, Pamilihang Sapi ng Pilipinas; ) is the national stock exchange of the Philippines. The exchange was created in 1992 from the merger of the Manila Stock Exchange and the Makati Stock Exchange. Includin ...
and grew by more than a third in one day, ballooning Villar's 80% stake in the company to $1.5 billion.[
]Vista Land
Vista Land & Lifescapes Inc. also known as simply Vista Land, is a property developer in the Philippines engaged in the real estate and retail industries. The company is part of the Villar Group of Companies associated with Manny Villar, along wi ...
and Lifescapes Inc, a family-owned business of Villar, is also listed in the privately owned Philippine Stock Exchange. Their shares of stocks were bought primarily by foreign funds which had given the government, as well as the PSE, good revenues.
Villar has received several awards for his achievements during his professional and business career, including being one of the Ten Outstanding Young Men
The Ten Outstanding Young Americans (TOYA) program is an annual award given by JCI USA (formally known as The United States Junior Chamber or the Jaycees). It is given to ten Americans between 18 and 40 years of age who "exemplify the best attribu ...
in 1986, the Agora Award for Marketing Management in 1989, Most Outstanding CPA by the Institute of Certified Public Accountants in 1990, and Most Outstanding UP Alumnus in 1991.[ In 2004, he was named the Most Distinguished Alumnus, the highest recognition given by the University of the Philippines Alumni Association.][
In a report of ]International Consortium of Investigative Journalists
The International Consortium of Investigative Journalists, Inc. (ICIJ), is an independent global network of 280 investigative journalists and over 140 media organizations spanning more than 100 countries. It is based in Washington, D.C. with ...
on offshore leaks in April 2013, Villar was listed among the businessmen with offshore accounts. It was revealed that Villar owned an account in the British Virgin Islands
)
, anthem = "God Save the King"
, song_type = Territorial song
, song = " Oh, Beautiful Virgin Islands"
, image_map = File:British Virgin Islands on the globe (Americas centered).svg
, map_caption =
, mapsize = 290px
, image_map2 = Bri ...
.
In 2015, the MB Villar Group formed another company, Vitacare Healthgroup, Inc., a group that will build chain of hospitals nationwide. Its first project Vitacare Unimed Hospital & Medical Center (in partnership with Unimed) will be located in Vista City, Las Piñas will be fully operated in 2018.
As of September 2018, ''Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...
'' magazine ranks him as the 2nd-wealthiest person in the Philippines, with his net worth of US$5 billion or ₱269 billion. However, his statements of assets and liabilities (SALN) filed for the year 2012 states his net worth at P1.453 billion.
In 2019, ''Forbes'' magazine named Villar as the new richest individual in the Philippines, with an estimated net worth of $5.5 billion, surpassing Henry Sy Sr.
Henry Tan Chi Sieng Sy Sr. (; ; October 15, 1924 – January 19, 2019) was a Filipino businessman and investor.
Born in Fujian, he moved with his family to the Philippines at age 12. While his family returned to China, he stayed behind and f ...
In 2021, his net worth surged to approximately $6.7 billion despite being overtaken by the Sy siblings in ''Forbes''' annual Philippines rich list.
Political career
House of Representatives
Villar entered politics when he was elected as the representative of Las Piñas-Muntinlupa's at-large district in 1992.[ At 42 years old, he was one of the youngest members of the ]House of Representatives
House of Representatives is the name of legislative bodies in many countries and sub-national entitles. In many countries, the House of Representatives is the lower house of a bicameral legislature, with the corresponding upper house often c ...
. Early in his congressional career, Villar was a prolific filer of House bills; in the first 100 days of the Ninth Congress, Villar filed the most number of local bills in the House of Representatives. Due to congressional redistricting, he later represented the district of Las Piñas.[
Villar became the speaker of the House of Representatives in 1998, during his third term in congress.][ As speaker, he presided over the impeachment of President ]Joseph Estrada
Joseph Ejercito Estrada, (; born Jose Marcelo Ejercito; April 19, 1937), also known by the nickname Erap, is a Filipino politician and former actor. He served as the 13th president of the Philippines from 1998 to 2001, the 9th vice presi ...
over corruption allegations in November 2000.[ Along with a large group of lawmakers which include the Senate president, Villar defected from Estrada's Laban ng Makabayang Masang Pilipino (LAMMP) coalition in order to hasten the process of impeachment.] However, he was ousted as speaker by Estrada's allies, replacing him with Camarines Sur
Camarines Sur ( bcl, Habagatan na Camarines; tl, Timog Camarines), officially the Province of Camarines Sur, is a province in the Philippines located in the Bicol Region on Luzon. Its capital is Pili and the province borders Camarines Norte an ...
representative Arnulfo Fuentebella.
Senate
Villar ran and won a seat as a senator in the 2001 elections. He ran as an independent candidate, but campaigned as a member of the People Power Coalition. He was later reelected in 2007, running as a member of the Genuine Opposition
Genuine Opposition (GO) was an electoral alliance in the Philippines that contested the 2007 Philippine general election. The alliance's members were in opposition to President Gloria Macapagal Arroyo. It was originally called the United Opposi ...
coalition.[
In July 2006, Villar became the Senate president, making him the first post-]World War II
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposing ...
public official to head both the House of Representatives and the Senate.[
In November 2008, due to issues regarding the construction of a road extension in C5, Villar lost support and resigned as president of the Senate. His successor, Juan Ponce Enrile, launched an inquiry regarding the project.]
2010 presidential campaign
Villar ran in the 2010 presidential election under the Nacionalista Party, with Senator Loren Legarda
Lorna Regina "Loren" Bautista Legarda (born January 28, 1960) is a Filipina politician, environmentalist, cultural worker, and former journalist who is currently serving as a Senator and the president pro tempore of the Senate of the Philippine ...
as his running mate.
During the campaign, columnist William Esposo claimed that Villar lied in his television commercials and could not have been poor because his younger brother was admitted to FEU Hospital, which he claims was a top hospital at the time and, in 1962, there was no bone marrow transplantation
Hematopoietic stem-cell transplantation (HSCT) is the transplantation of multipotent hematopoietic stem cells, usually derived from bone marrow, peripheral blood, or umbilical cord blood in order to replicate inside of a patient and to produce ...
and chemotherapy
Chemotherapy (often abbreviated to chemo and sometimes CTX or CTx) is a type of cancer treatment that uses one or more anti-cancer drugs ( chemotherapeutic agents or alkylating agents) as part of a standardized chemotherapy regimen. Chemothe ...
in the country yet.[ ] Villar clarified that his brother was admitted as a charity patient because the family was unable to afford treatment.
Villar lost the election
An election is a formal group decision-making process by which a population chooses an individual or multiple individuals to hold public office.
Elections have been the usual mechanism by which modern representative democracy has opera ...
to Benigno Aquino III
Benigno Simeon Cojuangco Aquino III (; February 8, 1960 – June 24, 2021), also known as Noynoy Aquino and colloquially as PNoy, was a Filipino politician who served as the 15th president of the Philippines from 2010 to 2016. The son of ...
after placing third with 5,573,835 votes.
Personal life
As a junior at the University of the Philippines Diliman, Villar became friends with Cynthia Aguilar, his classmate at the UP College of Business Administration. They married at age 25.[ They have three children: Manuel Paolo, ]Mark
Mark may refer to:
Currency
* Bosnia and Herzegovina convertible mark, the currency of Bosnia and Herzegovina
* East German mark, the currency of the German Democratic Republic
* Estonian mark, the currency of Estonia between 1918 and 1927
* F ...
, and Camille.
See also
*" Naging Mahirap", Villar's jingle for his 2010 presidential campaign
References
External links
Official website of Senator Manny Villar
Senate of the Philippines - Senator Manny Villar
{{DEFAULTSORT:Villar, Manny
1949 births
Living people
Businesspeople from Metro Manila
Candidates in the 2010 Philippine presidential election
Filipino billionaires
Filipino businesspeople in real estate
Filipino company founders
Filipino Roman Catholics
Independent politicians in the Philippines
Lakas–CMD politicians
Members of the House of Representatives of the Philippines from Las Piñas
Nacionalista Party politicians
People from Las Piñas
People from Manila
People from Tondo, Manila
Presidents of the Nacionalista Party
Presidents of the Senate of the Philippines
Presidents pro tempore of the Senate of the Philippines
Pwersa ng Masang Pilipino politicians
Senators of the 12th Congress of the Philippines
Senators of the 13th Congress of the Philippines
Senators of the 14th Congress of the Philippines
Senators of the 15th Congress of the Philippines
Speakers of the House of Representatives of the Philippines
University of the Philippines Diliman alumni
Visayan people