How Wealthy Is The Famous Cojuangco Family?
COJUANGCO FAMILY – The surname Cojuangco is one of the most prominent families in the Philippines but how wealthy is this clan?
Cojuangco family is one of the oldest hacienda-owning families in the Philippines and considered as among the richest as well. They are prominent because of their wealth, businesses, and even in the field of politics. This family is known for owning a bank, telecommunications company, radio stations, retail stores, shipping company, sugar milling company, and the vast Hda. Luisita.
The Cojuangco family name is from a Chinese descent called Kho Huang which eventually turned to Cojuangco. The first Cojuangcos who stayed here in the Philippines were not originally rich. They started with rice trade. Their wealth started when they also started buying lands. But there were rumors that their wealth have come from General Antonio Luna who had an affair with Ysidra Cojuangco. He gave her a hefty amount of wealth but Ysidra grew old alone and her money which is allegedly from Luna was given to her nephews.
In a quite complicated story, the money from Luna to Ysidra is the money which is actually for the first Republic of the Philippines which was entrusted to Luna but he did not returned a part of it to the government
There were also rumors that their wealth and status improved when they helped the Americans before and negotiated with them for their business. Also, the money left by Luna, Ysidra used it for “paluwagan”. And that was how their power and wealth broaden. However, these were all just rumors and were not proven to be true.
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