Philippine tycoon and San Miguel boss Eduardo ‘Danding’ Cojuangco dies

Popularly known as ‘Boss Danding’, the tycoon of Chinese descent headed the conglomerate that makes San Miguel beer, and was worth US$1.1 billion

But while he was praised for his contributions to the Philippines, he remained controversial as a result of his close links to former dictator Ferdinand Marcos

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Eduardo Cojuangco, who served as chairman of San Miguel Corporation for decades, has died at the age of 85. The conglomerate’s core business was food and drink, but it had interests in power, mining, infrastructure and property. Photo: Reuters

Published: 10:00pm, 17 Jun 2020Updated: 10:56pm, 17 Jun 2020

The death of tycoon Eduardo “Danding” Cojuangco, Jnr. at the age of 85 in Manila on Tuesday night has drawn mixed reactions in the Philippines, where his corporate and political achievements were tarnished by his links to the late former dictator Ferdinand Marcos.

Cojuangco was chairman of San Miguel Corporation, the country’s largest food and drink conglomerate, which produces San Miguel beer and also has interests in energy, power, oil refining and infrastructure. He was also chairman of the Nationalist People’s Coalition Party, which has three sitting senators and is part of the ruling party coalition.

His long-time aide and spokesman, Joaquin Henson, mourned his passing and described Cojuangco as “a man for all seasons … a philanthropist, astute businessman, consummate politician and ardent supporter of sports [who] through his projects all over the country, he touched the lives of millions of Filipinos”.

Forbes magazine’s world rich list placed his net worth this year at US$1.1 billion, with interests including three Philippine basketball teams, Australian wineries and a stud farm. Despite his wealth, Cojuangco failed to fulfil one of his ardent desires – to win the presidency and turn the Philippines into a booming agro-industrial economy.

A customer buys San Miguel beers at a store in Manila. The businessman who led the food and drink empire has died at the age of 85. Photo: AFP

The businessman ran for president in 1992 but Imelda Marcos, widow of the late dictator, joined the race, splitting the pro-Marcos votes.