The billionaires' impact on the nation and people

The passing of Henry Sy Sr. last week brought back to mind once again the Chinese domination of Philippine economy. My hypothesis is that he who controls the economy also controls politics. The businessmen are funding the political ambitions of politicians. Then they dictate public policies, control government operations, law-making, and, allegedly, even judicial appointments and decisions. The real power in this country, and any country for that matter, is economic strength, controlled and dominated mostly by Chinese businessmen. With the few exceptions of the Zobels, Ayalas, Razons, Aboitizes, Pangilinans, and Villars, most of the country's wealth is controlled by Chinese taipans, tycoons, moguls, and magnates.

There was an era in Philippine history when most of the millionaires were landed Spanish mestizos, remnants of the encomienderos, the peninsulares, and insulares, like Don Andres Soriano Sr., Don Manuel Elizalde Sr., Don Vicente Madrigal, Don Carlos Palanca Sr., Don Enrique Zobel, as well as the Roxases, Aranetas, Lacsons, Montelibanos, and Tuazons. Today, it is the Chinese dominating the enclaves of the rich and very rich. The passing of Henry Sy brought to mind again my hypothesis that if this nation were a corporation, the Chinese would control 90% of the stock holdings. The rest of the Filipinos are just their underlings, workers, servants, and vassals.

Sy was the richest man in the Philippines and 52nd richest in the whole world. At age 94, had a worth of $18.3 billion. The other are Manuel Villar, 70, at $5 billion; John Gokongwei, 93, at $4.4 billion; Jaime Zobel de Ayala, 84, at $4 billion; Enrique Razon Jr., 59, at $3.9 billion; Tony Tan Caktiong (of Jollibee), 67, at $3.85 billion, Lucio Tan (PAL, PNB, etc.), 85, at $3.8 billion; Ramon Ang, 66, at $2.85 billion, and banking tycoon George Ty, had $2.75 billion when he passed away last year at 87.

Andrew Tan, 67, at $2.6 billion, Alfonso Yuchengco (RCBC) died in 2017 at 94. David Consunji, construction magnate also died in 2017 at 95. Andrew Gotianuy, builder of the Filinvest empire died in 2016 at 85. The question is: In life and in death, what have they done for our country and people?

I'm currently researching for my book entitled “Philippines' Magnates, Moguls, Taipans, Tycoons.” This book will analyze how these business giants treat their employees and dealt with the government. Are they paying just wages and honest taxes? Aren't they destroying the environment? What are their business ethics and philosophies? I am going to evaluate their impact on the country's economy, on issues of poverty, unemployment, social injustice, and others. I am also measuring their contribution to education, culture, arts, and civic involvement. But most of all, my investigative journalism will assess how these super-rich tycoons controlled politics in the country.

Many say some businessmen are evading taxes, smuggling, ravishing the environment, exploiting labor, and busting unions. But not a few others testify that these billionaires also help many poor people, paying millions in taxes to government, and engaging in charity and philanthropy. I am going to make my own conclusions based on the results of my scientific research. Abangan.