MANILA, Philippines (UPDATED) – Philippine tycoon Jon Ramon Aboitiz died on Friday, November 30, at age 70. 

The chairman of listed firm Aboitiz Equity Ventures, one of the country’s most valuable family conglomerates, died Friday morning, November 30, but his death was confirmed to employees only in the evening through a company-wide email. 

“His passing is certainly a great loss not only for the Group but for Philippine business as well. He was our strong pillar…. Jon will be profoundly missed as he was an inspiring leader, loving and lovable, and someone who easily connect with everyone around him. The Aboitiz family requests all of you to join us in praying for the eternal repose of his soul,” the email said. 

The Aboitiz Group issued an official statement on Saturday, December 1, saying Jon Ramon died “due to a lingering illness.”

“Jon will be profoundly missed as he was an inspiring leader, loving and lovable, and someone who easily connects with everyone around him. His passing is certainly a great loss, not only for the Aboitiz Group, but for Philippine business as well,” said Erramon I. Aboitiz, AEV President and CEO.

Jon is survived by his wife and 3 children.

Jon served the Aboitiz Group for 49 years. He began his career with the Aboitiz Group in 1970, and became President of Aboitiz Shipping Corporation in 1976. (READ: Q&A with Jon Ramon Aboitiz: ‘Never fall in love with your business’)

He was president and CEO of Aboitiz & Company from 1991 to 2008, and of Aboitiz Equity Ventures from 1994 to 2008. He became chairman of the Board of AEV after that until the time of his death. 

Jon was also Chairman and Chief Executive Officer (CEO) of Ramon Aboitiz Foundation, Incorporated, the Aboitiz family’s Cebu-based foundation. 

He also served as a non-executive director at Union Bank, and held positions in 2GO Group, Pilmico Foods, International Container Terminal Service, Subic Enerzone Corporation, and Bloomberry Resorts.

Jon and brother Mikel were ranked as the 33rd on Forbes’ 2018 list of richest people in the Philippines.

Jon led the family business and expanded it to power, banking, financial services, food, infrastructure, and land. 

His younger brother Roberto “Bobby” Aboitiz, then RAFI president, died in 2017.– Rappler.com