Leading the charge for the LT Group —the holding company owned by tycoon and one of the country's richest people Lucio Tan— is Lucio "Hun Hun" Tan III.
Still in his early 30s, Hun Hun is expected to steer the billion-dollar conglomerate into a new era, preserving its legacy while charting its future.
He has done a good job, so far, helping the company —particularly its flagship brands Tanduay Distillers and the country's flag carrier Philippine Airlines (PAL)— sustain its standing despite the challenges post-pandemic.
But who is Lucio Tan III?
How did a Silicon Valley-trained software engineer seemingly emerge from obscurity to take the helm of a business empire with a footprint in nearly all major industries in the country?
The grandson of El Kapitan
Hun Hun is the grandson of business tycoon Lucio Tan Sr. —the billionaire nicknamed "El Kapitan" by staff and employees— who built his wealth through Fortune Tobacco Company before expanding into banking, beverages and liquor, real estate, and airlines.
Now 90 years old, Lucio Tan Sr. was named in 2024 by Forbes as the seventh richest person in the Philippines with an estimated net worth of $2.65 billion.
Read: Manny Villar retains "Richest Man in the Philippines" title
A STANFORD UNIVERSITY ALUMNUS
Hun Hun holds a degree in electrical engineering from Stanford University in California, U.S.A., graduating summa cum laude in 2015.
He also pursued a master's degree in computer science at the same university.
WORKING IN SILICON VALLEY
Running his family's business empire after finishing his college studies was not on Hun Hun's mind.
Instead of suits and boardrooms, Hun Hun set his sights on the fast-evolving and cutthroat tech industry in San Francisco, California, popularly referred to as Silicon Valley.
Hun Hun earned his stripes by joining tech stalwarts Cisco Systems, Apple, and Facebook as an intern, absorbing as much knowledge as he could as he progressed in the industry.
He soon jumped to the ride-hailing service app Lyft, where he worked as a software engineer from April 2018 to January 2020.
TAKING OVER HIS DAD'S ROLE
On November 11, 2019, Hun Hun's dad Lucio "Bong" Tan Jr. passed away at the age of 53 due to brain herniation.
Bong reportedly collapsed in a basketball game at the Gatorade Hoops Center in Mandaluyong City.
"His untimely passing leaves a big void in our hearts and our Group's management team which would be very hard to fill," said Bong's sister, Vivienne Tan, in a statement to the media.
At the time of his death, Bong—who was just named president of PAL Holdings Inc. in October—held key positions in the family's multiple ventures.
There was no question that Bong was poised to succeed his tycoon father as the face and driving force of the Tan empire for years to come.
His untimely passing changed all that.
Read: Lucio Tan mourns spouse's death 9 months after son's passing
With Bong gone, his son Hun Hun was thrust into the spotlight, expected to take an active role in steering the billion-dollar conglomerate built by his grandfather.
Hun Hun was named president and chief operating officer of Tanduay Distillers Inc., assuming the roles his father left behind.
Looking back at his decision to leave his tech career in the States, Hun Hun told Forbes in 2023, “Coming back has always been part of the plan. It was definitely rushed by several years, maybe even a decade.”
hun hun at the helm of tanduay
The task of leading a giant liquor brand — which traces its origin to 1854 and was acquired in 1988 by Lucio Tan through his other company, then known as Twin Ace Holdings Corporation—was undoubtedly an enormous responsibility for someone who, at the time he was groomed to succeed his father, was not even in his 30s.
To Hun Hun's credit, he held his own and proved that he can navigate the company despite increasing challenges, particularly during the COVID-19 pandemic in 2020.
Under the young executive's watch, Tanduay has consistently recorded net income growth, even during the pandemic.
It reached PHP1.24 billion in 2021, an 11 percent increase from PHP1.12 billion in 2020, which was 65 percent higher than the PHP676 million posted in 2019.
Finding opportunity in crisis, the company produced ethyl alcohol to help hospitals and medical facilities shore up their supplies as the pandemic raged.
Hun Hun's tech background came in handy with the launching of shots.ph — an e-commerce platform where customers can easily purchase Tanduay products online.
He aims to integrate digital technology more deeply into the companies under the family's stewardship, ensuring the conglomerate keeps pace with modern times while exploring untapped avenues to drive greater profits.
increased responsibility across companies and industries
Being part of a family business with stakes across various companies and industries often entails involvement in most, if not all, of these ventures, each in varying capacities.
In May 2023, Hun Hun was appointed president of PAL Holdings Inc. and LT Group, the holding and investment company that houses the family's diverse businesses.
"As the newly designated President of PAL Holdings, I am committed to providing stability and upholding the highest level of integrity within the company," the young executive said in a statement following the announcement of his new role in PAL Holdings Inc.
He added, "I look forward to working closely with the PAL team, under the leadership of its President and COO, Capt. Stanley Ng, to ensure a collaborative and cohesive approach in serving the best interests of our customers.
"We also aim to safeguard our shareholders’ investments by fostering a culture of transparency, accountability, and long-term value creation."
Hun Hun's entry coincided with the airline's remarkable financial recovery, posting a record-high net income of PHP21 billion in 2023, as domestic and international travel surged with the easing of pandemic restrictions.
What's more, Hun Hun took on directorial roles across several of the company's subsidiaries and affiliates, including MacroAsia Corp., Philippine National Bank, Lufthansa Technik Philippines, Inc., MacroAsia Catering Services, Inc., MacroAsia SATS Inflight Services Corp., MacroAsia Airport Services Corp., MacroAsia Properties Development Corp., Belton Communities, Inc., Eton City, Inc., and First Homes, Inc.
“I can definitely understand how it seems that way, but it’s really more just increasing responsibilities," Hun Hun told The Philippine Star in June 2022, when asked about being seen as the heir apparent to the Tan empire.
He added, "One of my principles is to just do my best with the task given to me.
"As Tanduay president, that’s what I’ve been doing, and now as LTG COO, I’m getting to know the different businesses.
"That’s currently my operating environment and I try to do what I can."
leading by empowering
On his management style, Hun Hun told The Philippine Star that he believes in empowering people.
He elaborated further: “That’s something that I like to do and while empowering people to do their jobs, enforce a specific level of standard.
"And also lead by example. So as an example, in Tanduay, we have introduced more regular syncs with a lot of the different divisions within the organization.
"So this would be the supply chain organization. This would be the technical operations, distilleries, sales, and marketing. We have regular syncs, everyone is aligned.”
He makes it a point to be present in meetings and be actively involved in the discussions with his staff.
Hun Hun understands that running an empire requires balancing a sense of urgency with patience, where achieving both short- and long-term goals is all part of the process.
"Make sure that you just control what you can control, basically, and you don’t focus on the end result right away or rather, you don’t fixate on the end result," he mused.
"You’re aware of the end result that you’re looking for. And you just control the day to day to get there.”
HUN HUN'S OTHER PASSIONS AND INTERESTS
Running one of the country's largest and most lucrative conglomerates, while financially rewarding and fulfilling, comes with immense stress and pressure.
Beyond the constant pursuit of revenue growth, the role also involves managing a large workforce while navigating internal dynamics—balancing business priorities with family relationships, as several relatives with longer tenures in key management positions hold stakes and play significant roles within the organization.
"‘Power struggle?’ I don’t think much about that because it’s not there, but best to approach it with the idea of unity as a family. That’s what I want to advocate for," said Hun Hun in an interview.
"At the end of the day, families have disputes and we recognize it as part of the past, but it really shouldn’t influence future decisions.
“We really should look at what’s best for the family and the conglomerate moving forward rather than continue to focus on past disputes. That’s my mindset now."
Hun Hun visits the gym regularly to work out and engage in exercise to let off steam.
He described exercising as "systematic" and that "it's like working on engineering problems, but this time you're focused on your body."
continuing a legacy of supporting athletes
Hun Hun is an avid basketball fan—a passion he inherited from his father Bong, who balanced managing the family business with running basketball clubs representing the company's brands, including the Tanduay Rhum Masters, which played in both the Philippine Basketball Association (PBA) and the Philippine Basketball Association Developmental League (PBA D-League).
Hun Hun loves the NBA's Golden State Warriors, which is hardly surprising given that he spent time in the Bay Area during college and while working in Silicon Valley.
Incidentally, Tanduay has been entering into sponsorship deals with NBA teams since 2016, namely the Brooklyn Nets (2016-2017), Hun Hun's favorite the Golden State Warriors (2017-2019), and currently, the Milwaukee Bucks and Phoenix Suns.
It's another example of the brand's aggressive marketing strategy to gain more exposure in the international market.
Likewise, Hun Hun expressed his desire to continue his father's mission to support sports and athletes in the grassroots level.
Fun fact: Bong played a pivotal role in the early career of James Yap, the sweet-shooting player from Escalante, Negros Occidental, who played for the Tan-owned University of the East (UE) in his collegiate career in the University Athletic Association of the Philippines (UAAP).
While in high school, James played for the mineral water brand Absolute owned by the Tans in the Philippine Basketball League (PBL).
James would choose UE over other suitors vying for him to join their college squads, such as the Far Eastern University, Adamson, and De La Salle University.
James, who went on to have a successful career in the PBA, was just one of many athletes Bong supported in one way or another.
Hun Hun wants to do the same and continue his father's advocacy.
"The goal is not just to join leagues, but, more importantly, to give players from different communities in the country the chance to fulfill their dreams of making it big in sports," said Hun Hun in an interview by Sun Star published in April 2022.
"I can't be my dad's son if I don't care about basketball," Hun Hun said, adding that "I'm a huge NBA fan. When I was younger, I followed the PBA for a time."
When it comes to his love for basketball, Hun Hun said the sport allows him to connect with people of all ages, both young and old.
"It's something I can connect with, with my friends, executives, and younger people as well," he said.
"We would be talking about financial statements, and then would be asking if we watched the game yesterday. It's something that all of us could talk about."
When it comes to his romantic life, the young tycoon — undeniably one of the country's most eligible bachelors—remains discreet, choosing to keep his personal affairs understandably private.
This air of mystery only adds to his charm, making him all the more intriguing in the eyes of admirers.