Businessman Roberto V. Ongpin, the former Trade Minister during the last years of the Marcos regime, died on Saturday, in Balesin Island.

“Roberto Velayo Ongpin, chairman of Alphaland Corporation, passed away in his sleep last night in Balesin Island. He was 86 years old (born on January 6, 1937),” the relative said in a text message to a TV station on Sunday.

“He is survived by his wife, Monica Arellano, his children, Stephen, Anna, Michelle and Julian, and four grandchildren, two of whom he got to play with before he went to sleep last night,” it added.

According to a Facebook post by cousin Apa Ongpin, Roberto Ongpin made great contributions to the country.

“A cum laude graduate of Ateneo de Manila and an MBA from Harvard Business School, he led SyCip Gorres and Velayo to become Asia’s largest accounting firm, and served from 1979 to 1986 as the youngest Minister for Trade and Industry, during which he made many contributions to the development of the country, as well as defended the currency in the wake of the 1983 financial crisis,” Apa Ongpin said.

At the time of his death, Ongpin was one of the richest businessmen in the Philippines. Forbes Magazine reported last year that Ongpin was the 23rd richest Filipino with a net worth of $830 million.

CurrentPH News Service