Financial IQ: Ortigas & Madrigal Families in 40 Richest

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Financial IQ Philippines Quick Hit(s):

Nice to see more tycoons among the country's most affluent.


Congratulations to the entrepreneurship and marketing business students of the 391-year-old Letran College in Intramuros, Manila, for their seminar workshop on Aug. 17 at the St. Thomas Aquinas Hall, with this writer as guest speaker to share our analyses and numerous interviews of top entrepreneurs here and abroad. The project chairman was graduating student and STAR reader Karen Calandria, with the support of Asst. Prof. Virginia Salonga, Asst. Prof. Raem Mendoza and Dean Dr. Cristina M. Castro-Cabral.


During our talk and the interesting open forum, I cited two self-made tycoons who were distinguished Letran alumni and among the best entrepreneurs in Philippine history: Francisco Ortigas Sr. (1875-1935) and Vicente Madrigal (1880-1972).



I told them that the Ortigas and Madrigal families today are still among the wealthiest billionaires in the Philippines, who were erroneously left out by America’s Forbes magazine in their 2011 list of the country’s 40 richest tycoons or families.


One of Vicente Madrigal’s children, the late Consuelo “Chito” Madrigal Collantes, died in 2008 at age 87 and left an estate reportedly over US$329 million, 40 percent of which she bequeathed to niece Ma. Susana “Chu Chu” Madrigal Eduque, 40 percent to grandnephew Vicente Gustav Warns, and 20 percent to niece Atty. Gizela Madrigal Gonzalez-Montinola (wife of Bank of the Philippine Islands President Aurelio Montinola III).

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