Filinvest Founder Andrew Gotianun Sr. Passes Away at 88

One of the Philippines richest Taipan and the founder of real estate giant Filinvest Land Inc., Taipan Andrew Gotianun Sr. passed away on the morning of Thursday, March 10, 2016, he was 88 years old. Based upon the estimates of Forbes Magazine he is the 18th wealthiest man in the Philippines.

Andrew Gotianun

The late Andrew Gotianun Sr., has a net worth of $910 million at the end of 2015 according to Forbes magazine. Aside from Filinvest, the older Gotianun’s other businesses include East West Banking Corp., as well as interests in the sugar, hospitality and power generation industries.

Gotianun’s family business was originally founded in Cebu after Andrew Gotianun moved to the Philippines from mainland China when he was just 10 years old. Like any other taipans in the country, he didn’t finish school as he had to take care of three generations of women when his father and brother passed away.

Andrew Gotianun was married to Mercedes, a Manileña of mixed French-Filipino-Chinese ancestry who bore four children: Andrew Jr., Jonathan (now chair of East West Bank), Josephine and Michael.

Based upon the biography of Andrew Gotianun Sr., after World War 2 he acquired navy minesweepers and used them for inter-island shipping. His family then relocated to Manila and embarked on the consumer finance business, financing second-hand cars. In the 1960s, the family ventured into the property business, beginning with a subdivision project in Cebu.

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