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Villar says family wealth due to hard work: ‘Hindi ito product of gov’t influence’


Senator Cynthia Villar on Thursday said that her family's work is a product of perseverance and hard work, not of political influence.

During the period of amendments for the corporate income tax reform bill, Senator Richard Gordon lauded the Villars for their business success, saying that many are evious of them.

Villar, whose husband Manny has been hailed as the richest Filipino on Forbes' Billionaires 2020 List, with a net worth of $5.6 billion, took the opportunity to share her and her husband's humble beginnings.

"Manny and I started when we were 25 years old. Our first business is a gravel and sand business with two trucks and we went to real estate because we were delivering gravel and sand to real estate companies," the senator said.

"Manny thought he could build houses. So, he started really from scratch and we grew not because of our influence but really it's hard work and perseverance," she added.

Villar went on to say that they only entered politics because of her father and her brother, who both served as mayor of Las Piñas City.

"Parang ipinamana sa amin na we cannot resist or we cannot say no. But we never really used our political influence to make our company. We are used to fighting it out in the free market," she said.

"Hindi ito product of government influence. It's really hard work and perseverance. Gusto ko lang i-manifest 'yun kasi baka akala ng mga tao yumaman si Manny dahil sa political influence," she added.

Villar also said her husband—who was himself a senator from 2001 to 2013, and served as Senate President from 2006 to 2008— is "too shy" to accept political favors.

"Masyado ngang mahiyain to gain political favors, mahiyain nga siya eh. Hindi siya mahilig sa ganoon," she said.

'Investments from abroad'

Villar said their family business grew when it was opened to public investors from abroad through an initial public offering (IPO).

"We became big because we went public. We went  abroad and raised money from abroad in 1995 because of our IPO. That's what made us big," the senator said.

"Kung 'yung earnings lang namin sa Philippines, hindi kami lalaki kasi kapag naka-IPO ka sa abroad they will bring money to you as investment to your company," she added.

The family was able to raise $220 million and another $520 million in 1995 and 2007, respectively, through the IPO, Villar said.

Their family runs the AllHome Corporation, Golden Haven Inc., Starmalls Inc., Vista Land & Lifescapes Inc., and other ventures.

The Villars' daughter Camille is currently the Representative of the Lone District of the City of Las Piñas while their son Mark serves as the Secretary of the Department of Public Works and Highways. — BM, GMA News

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