Source of Wealth:Diversified (Aboitiz Group)
Shares of flagship Aboitiz Equity Ventures, which he chairs, more than doubled in 2010. Aboitiz Power investing $1 billion on new power plants. Brothers Mikel, president of City Savings Bank, and Roberto, president of family's Ramon Aboitiz Foundation, share fortune. He now holds various positions in the Aboitiz Group, including chairman and chief executive officer (CEO) of Davao Light & Power Co., Inc., chairman of Veco and Aboitiz Jebsen Bulk Transport Corp., and director of Hapag-Lloyed Phils., Cotabato Ice Plant Inc. and Bukidnon Hydropower Corp.
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