President Rodrigo Duterte guaranteed to ruin the Philippines’ elite. MANILA/DAVAO, Philippines — The afternoon Rodrigo Duterte became president Roberto Ongpin was among the Philippines’ wealthiest guys. Ongpin had lived — and prospered — beneath six administrations by trading favours and greasing friendships. Duterte took aim in the corruption and excesses of both wealth-hoarding judgment families such as Ongpin’s. He also called them” cancer on society,” and also”illustrious idiots” who flew around in private aeroplanes while the Filipino people endured. Only four weeks into his sentence, Duterte unloaded. Shares of Ongpin firms plummeted.
By Duterte month in office, the tycoon had resigned as chairman his gaming firm, of PhilWeb. Apa Ongpin, former executive and Roberto’s nephew in PhilWeb, recounted in an interview. The takedown of a guy who had been a fixture at the muddy borderlands between politics and company sent waves of shock and dread through the elite of the country. Three decades past, what Duterte styled as a tidal transformation has begun to seem more like a vendetta. Lala Rimando journalist, who’s currently writing a novel on the business elite sa gaming. 1 former high heeled elected officer went a step farther. Far from taking a system down of politicians and businessmen working together for private gain, Duterte has been”fostering his own group of cronies,” he explained.
Men have experienced a dramatic rise than Dennis Uy. A in Davao del Norte, uy, is the son of all provincial dealers who dealt with peanuts, maize and copra. As he described at 2017, Uy and Duterte met at Davao city, in which he had been mayor for two decades. The guys became friends. Uy constructed Phoenix Petroleum Philippines into among the biggest in the nation, capable of going. In addition, he expanded his company into logistics and shipping. Uy was among the leading presidential campaign donors of Duterte. Duterte rang the bell in the Philippine Stock Exchange.