Sumndad Jasmine T.

Bsam 3B

Tony Tan Caktiong was born in January 5, 1953  (age 70 years) Tony Tan is a Filipino
billionaire businessman. He is the founder and chairman of Jollibee Foods Corporation, and
the co-chairman of Double Dragon Properties. Tan Caktiong is married to Grace Tan
Caktiong. He is also the brother of Ernesto Tanmantiong, who is the President and CEO of
Jollibee Foods Corporation.
Tan Caktiong was born to Chinese immigrant parents from Fujian. His father worked in a
restaurant in China and as a cook in a Buddhist monastery in Manila before setting up his
own restaurant in Davao City Tony Tan Caktiong attended high school at Chiang Kai Shek
College [citation needed] and graduated from the University of Santo Tomas with a degree in
chemical engineering in 1975. Tan started his career with a small ice cream parlour,
‘Jollibee’ at the age of 22. He expanded his business by adding dishes such as French fries,
fried chicken and hamburgers. Tan bought the franchise of the Magnolia Dairy Ice Cream
and opened a couple of ice cream parlours. He added sandwiches and hot meals to the
menu on the popular demand of his customers.
Tan founded Jollibee in the year 1978, three years after establishing an ice cream parlor. He
acquired the Greenwich Pizza Corp, entering the pizza and pasta food market. Jollibee
Foods Corp bought the remaining shares of Greenwich Pizza Corporation in the year 2006
and became a 20% stake-holder. He bought out the shares of his partner, Greenwich for a
cash amount of P384 million.
Under the leadership of Tan, Jollibee has become the most popular chain of fast food
restaurants in the country. Today, it is one of the leading fast food chains and dominates 50%
of the food market. Tan acquired the Yonghe Dawang in 2004 and the Chowking Oriental in
2000. In 2012, Tan Caktiong, through his holding company, Honeystar Holdings Corporation,
invested in Injap Land Corporation, a property company founded by Edgar Sia II. With Tan
Caktiong's entry, the company was renamed Double Dragon Properties Corporation. Tan
won the prestigious Entrepreneur of the Year and the Ernst and Young Entrepreneur of the
Year World Awards in 2004.