Philippine tycoons

Tycoons booze up at Marcos’ victory party

Ralf Rivas
Tycoons booze up at Marcos’ victory party

Sourced photo

Kevin Tan and Sabin Aboitiz cozy up and drink wine with presumptive president Ferdinand Marcos Jr.

MANILA, Philippines – It was well-known how the dictator Ferdinand Marcos Sr. and his wife Imelda knew how to throw a party.

Their son, presumptive president Ferdinand “Bongbong” Marcos Jr., clearly knows how to enjoy himself as well with friends.

The latest celebration may not seem so swanky like the parties of Marcos Jr.’s youth in Malacañang, but his billionaire guests and socialites nonetheless showed that an elite circle has his back.

Chat groups and Twitter went abuzz over a photo and a video showing business leaders partying with Marcos Jr. at his campaign headquarters late evening on Monday, May 9, when partial, unofficial results started showing a landslide victory for the late dictator’s son.

The photo showed Sabin Aboitiz sitting beside Marcos opening a bottle of red wine for the table filled with other prominent business figures. Aboitiz, who is married to Bettina Araneta, is the president and chief executive officer of the Aboitiz Group, which has business interests in power, financial services, food manufacturing, real estate, and infrastructure.

Person, Human, Hand

Wearing a red polo shirt, Alliance Global’s Kevin Tan was also spotted beside Marcos. Alliance Global is the parent company of Megaworld, Travellers International, Infracorp Development, and Golden Arches Development Corp., which holds the franchise of McDonald’s in the Philippines.

Tan has been spotted in at least one Marcos campaign event, as posted by one Marcos supporter on TikTok.

Greggy Araneta, Marcos’ brother-in-law and chief of PhilWeb Corporation and Araneta Properties, was also at the table. On Tuesday, share prices of Philweb and Araneta Properties shot up, as investors speculated of better times for the companies under a Marcos presidency.

Miss Universe 1973 Margie Moran-Floirendo was also present in the festivities.

A video has also circulated in Viber groups showing Lisa Araneta and Irene Marcos singing “Umagang Kay Ganda” with Inigo and Maricris Zobel. Inigo is a cousin of Jaime Zobel de Ayala.

These tycoons and socialites have been spotted in some of the campaign events of Marcos. Were they there simply to show support, or did they help finance Marcos’ campaign? Did these tycoons pop the champagne to celebrate Marcos’ victory or the prospects for their businesses? Rappler.com

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.