“Perhaps God thought Ongpin had done enough in a lifetime and decided it’s time for him to rest”
When I woke up last Sunday morning, my daughter told me she received a text message that Bobby Ongpin (RVO to his associates), my good friend and former student at the old Ateneo de Manila High School, died. I was shocked.
Later that day, news came out that Bobby Ongpin died in his sleep, “cradled in the arms of his beloved Balesin” as the Philippine Star columnist, Iris Gonzales, put it.
Bobby Ongpin died at 86, survived by his wife, Monica Arellano Ongpin, and children Stephen, Anna, Michelle and Julian, daughter-in-law Laura, son-in-law Frank, and grandchildren Sebastian, Benjamin, Lia and Maya.
Bobby lived a full life and was in fact an international businessman.
As my former student at the Ateneo High School, Bobby was an extrovert and friend to all his classmates.
His late brother, Jaime Ongpin, who was also a student at the old Ateneo High School, was an introvert.
Bobby finally graduated from the Ateneo, cum laude, and went on to take up a postgraduate course at Harvard University in the United States.
When he was 45 years old, Ongpin became the youngest manager partner of the famous Philippine and international auditing firm SGV (Sycip, Gorres and Velayo).
It was at that time when Ongpin met international personalities, like Saddam Hussein.
Bobby in fact was very proud showing me a photo of Hussein towering over him at over 6 feet, and Ongpin at only 5 ft and six inches.
Bobby was soon called by the late strongman Ferdinand E. Marcos to serve as Minister of Trade and Industry.
As Bobby used to recall, “When the President says you serve, you serve”
I was then a broadcast journalist during Martial Law.
When the late Senator Ninoy was assassinated in 1983, the Philippine economy was in dire straits with the massive outflow of dollars, by domestic and international businessmen, so much so the Central Bank could no longer have foreign exchange.
Ongpin, as Minister of Trade and Industry, thought of a plan of having the police gather several well-known Chinese foreign exchange traders and threaten to send them to the stockade unless they followed his orders.
That gave birth to the well-known “Binondo Central Bank,” when Ongpin ordered all the foreign exchange traders to buy all the foreign exchange available in the market on behalf of the Philippine government to buy imported necessities for the people.
Ongpin dictated the rate of exchange everyday, and the BCB was very successful so much so the BCB saved the country’s economy from collapse.
This even impressed the World Bank so much it wanted Ongpin to save Egypt from economic collapse.
Egypt was suffering the same problems the Philippines had before Ongpin created the BCB.
For his role in preventing the economic collapse of his country, Ongpin made a name for himself in the history of the Philippines.
After the exile of FEM to Hawaii, Ongpin left the country and based himself in Hong Kong and became a consultant to many international conglomerates, primarily with American Insurance group (AIG) and Bobby’s friend Robert Kuok, a Malaysian billionaire who owned the South China Morning Post, the biggest English newspaper in the former British colony, now under the People’s Republic of China and made Ongpin his vice chairman.
But, Ongpin, a true Filipino, never lost contact with his friends in the Philippines.
He had set his eyes on a 500-hectare island called Balesin, jointly-owned by his former trade and industry undersecretary Ed Tordesillas and Baby Ysmael, an industrialist.
Being a visionary, RVO had plans for that island off the coast of Quezon province.
Bobby has had his own share of controversies.
He was demonized by former President Duterte, as an “oligarch that must be destroyed.”
This incident forced Ongpin to sell his Philweb, an online gaming firm causing him to lose P22 million.
He had to sell it to Greggy Araneta at a loss.
Ongpin was also accused of involvement in behest loans from the Development Bank of the Philippines and insider trading by the Securities and Exchange Commission.
But, Ongpin survived them when cases against him were dismissed.
After all these Ongpin went on to become one of the highest ranking tycoons, according to the Forbes ranking of rich Filipinos.
Oh yes, Bobby has his own Corporate Social Responsibility (CSR) by having scholarship grants through the name of his late brother, Jaime V. Ongpin, who was once the finance secretary of Cory Aquino.
Bobby is a friend to most of the senators and to President Bongbong Marcos and the First Lady.
Years later, with Ashmore, an investment firm from London, Ongpin came back to the Philippines during the incumbency of Gloria Macapagal Arroyo.
He subsequently bought that island called Balesin from Tordesillas and made it an exclusive island club.
Ongpin has built a $2 billion fortune from scratch as a premiere paradise destination with 7.3 white sand beaches, 7 themed villages, almost 30 restaurants, 386 villas and unmatched amenities.
Balesin is the premier members-only go-to getaway for the rich, famous and the elite.
Ongpin’s debt-free Alphaland Corp, of which he was chairman and CEO, the visionary that he was, is expanding to nearby 732-hectare Balesin International Gateway, with five-star hotels, an 18 hole golf course and a 1,834 beach and golf course homes — all at Patnanungan Island, now almost completed.
His idea : attract the world’s high network individuals to enjoy the most unique beach resort and nature enclave as members or guests.
For Balesin members and guests, Ongpin bought a hydrofoil jet luxury boat to ferry people to and from Balesin and Patnanungan.
Ongpin in fact had bought spots at CNN aimed at high network people in the United States and Europe to become members of Balesin.
Balesin is not only debt-free, but has P1.5 billion in its pocket.
With Balesin as its signature high-end project, Alphaland also has the Baguio Mountain Lodges, which I call “Baguio’s Forbes Park,” an enclave for the rich and the elite.
The highly-secured mountain resort , 9 kilometers from Central Baguio, is now almost occupied and developed, having its own helicopter pad and Alphaland restaurants.
I have been there twice. It all began when Ongpin bought the land to grow citrus trees when he was SGV managing partner.
Alphaland also owns the City Club, the foremost sports and luxury club, and Alphaland Makati Place, which was awarded as the premier residence-hotel, complete with restaurants and amenities. It also houses the Aegle Wellness center.
Not content with all his successes, Ongpin planned to attract the premier world-known soccer clubs of Europe and America to practice in a world-class artificial grass complete with all its amenities including dormitory under a grandstand for soccer players to rest.
Perhaps God thought Ongpin had done enough in a lifetime and decided it’s time for him to rest.
I repeat, as columnist Iris Gonzales has written so well, Bobby died in his sleep cradled in the arms of his beloved Balesin.
As for me, I will miss a very good friend and a man I admire and respect so much as a friend, a tycoon, a billionaire, an international businessman and a visionary.
I really hope and pray that whoever will take his place at Alphaland as CEO will continue all of Bobby’s projects and dreams the way he envisioned them, and even more.
With this note, all I can say is: Good Night, Sweet Prince, my good friend, may the flight of angels sing thee to your rest.
