Roberto “Bobby” V. Ongpin, a former government official and one of the country’s wealthiest businessmen, passed away Saturday night at the exclusive island he built in Polilio, Quezon. He was 86 years old.
Reports that quoted his close relatives said Sunday that Ongpin passed away in his sleep on Balesin Island.
Ongpin was chairman of Alphaland, the property developer that built the exclusive Balesin Island Club. Apart from that, he was also chairman and CEO of the mining company Atok-Big Wedge Co.
Based on a Forbes report, Ongpin has a net worth of around $830 million in 2022, which ranked him at No. 23 among the 50 richest in the country.
“After leaving government, he built and rebuilt empires, including making the deals that brought the Shangri-La Group into the Philippines, Tagaytay Highlands, PhilWeb, and culminating in Alphaland Corporation, where he built his crown jewel, Alphaland Balesin Island Club,” his nephew Apa Ongpin was quoted as saying.
Undiminished
“He has been expanding to the neighboring island of Patnanungan, which he planned to formally open this year. He never retired, and remained sharp and undiminished by age, all the way to his last day,” he added.
Ongpin is survived by his wife, Monica Arellano, his children, Stephen, Anna, Michelle, and Julian, and four grandchildren. Apa said Ongpin even played with two of his grandchildren before he went to sleep Saturday night.
His remains will be transported to Manila, his nephew added, saying the family will soon announce details of the planned funeral services.
Ongpin was a certified public accountant with a master’s degree in business administration from Harvard. He joined Procter and Gamble before working at Sycip Gorres Velayo from 1964 to 1979.
He was minister of commerce and industry from 1979 to 1986 before concentrating on his businesses after former President Ferdinand Marcos Sr. was ousted following the People Power Revolution.
In 2016, to save his company and operators from losing their livelihood, he divested from gaming technology provider PhilWeb Corp.
It can be recalled that during the time of former President Rodrigo Duterte, Ongpin was among the “oligarchs” who came under fire from the Chief Executive.
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