Learning how to build Wealth from The Ayalas (9th Richest Family in the Philippines)
I am a Money Magnet! We are Money Magnets!
Great insights we can learn from the Philippine's 9th richest family, the Ayalas.
-->
-->
Great insights we can learn from the Philippine's 9th richest family, the Ayalas.
MANILA – The Ayala family is among the richest billionaires in the country, and they endured world wars, dictatorships, political rebellions and global financial crises to form the largest conglomerate in the Philippines.
ANC On The Money's resident financial adviser Salve Duplito said there are three lessons to learn from the Ayalas:
1) It takes time to build wealth.
The Ayala Corporation was founded in 1834, and its success today took 180 years of hard work.
“When we look at somebody a lot wealthier than us, we must look beyond their big houses, posh cars, huge parties, and lifestyle. Before they got there, chances are they worked hard and long and sacrificed a lot too,” Duplito said on ANC’s “On The Money.”
2) You must learn to insulate yourself against crises of all kinds
In the last 180 years, Ayala Corp. went through two world wars and after World War 2, the company faced some difficulties as it had assets, but no cash.
The company also went through political turmoil that plagued the Philippines in the 1980s.
Despite that, Ayala Corp. today owns the country’s biggest developer, the second biggest telecommunications company, the country’s third biggest bank, and a water utility company.
It is also into electronics, automotive, business process outsourcing, power, and transport infrastructure.
“Crises, whether it’s financial, social, or political, will always happen. The person who can be conservative and bold at the same time, and deal with a world that is in a constant state of flux, will win,” said Duplito.
She added that when there are crises, the first insulation is mindset, second is financial smarts and the third is ability to deal with change.
Ayala Corp. chairman Jaime Augusto Zobel de Ayala, in an interview with CNN in 2012, said the company was able to keep up with the times because it did not fear change.
“We have not remained static. We have adjusted to the changing times. Change is not something that neither of us, Fernando nor I, fear,” he said.
3) Acquiring wealth is not as important as how you get it
The Ayala Corp. is known for its corporate governance policies, being recently awarded the 19th Annual IMD-Lombard Odier Global Family Business Award at the 25th Summit of the Family Business Network International.
The award is considered the most prestigious recognition for family businesses around the world
“When it comes to building wealth, never forget that the amount of money you have in your investment and savings accounts is not as important as how it got there,” said Duplito.
The Ayalas currently rank 9th in the Forbes’ Philippine annual rich list, with an estimated net worth of $3.4 billion.
source: abs-cbnnews.com
-0-
If you're using Facebook to leave a comment/question below, please don't forget to tag "Money Magnets" so we can see your comments and reply to it right away. Thank you. You may also reach us directly at email: MoneyMagnets.Phil [at] gmail.com. We'd love to hear from you. -0-
1 comments:
-
Hello Everybody,
My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of $250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of $250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius, call/whats-App Contact Number +918929509036 via email:(urgentloan22@gmail.com) Thank you.
Subscribe to:
Post Comments
(Atom)
