Billionaire for President? Philippines’ No. 4 richest denies he’s taking over
One of the richest men in the Philippines, Ramon Ang, on Thursday firmly denied online speculation that he was being positioned to take over the presidency, dismissing reports that he was being floated as a “consensus caretaker” amid the country’s escalating political crisis.
Ang issued the clarification after Politiko, a local online news site, published a story claiming that business elites were quietly discussing him as a potential stabilizing figure should the Marcos administration’s political crisis deepen.
The report triggered a wave of messages and speculation online — enough for the billionaire to break his usual silence.
“I have been getting many messages today, and I also saw the story that has been circulating. Let me put things to rest: I am not entering politics,” Ang said in a statement on Thursday.
Ang has an estimated net worth of $3.75 billion, making him the fourth richest man in the Philippines. He has built his war chest primarily through San Miguel Corp., the largest conglomerate in the country, which has made a mark in the brewery, infrastructure, and many other ventures.
Ang stressed that he prefers to remain focused on business and public service through private-sector initiatives.
“Most people know me as someone who works quietly in business, building projects, fixing what I can, and supporting government and communities. That is where I believe I can contribute the most, and that is where I intend to stay,” he said.
Politiko had earlier reported that “the name of bilyonaryo Ramon Ang is reportedly being floated in business circles as a potential ‘consensus caretaker’ as the Marcos administration grapples with an escalating corruption scandal and deepening political fractures.”
Citing unnamed “scoopers,” the site said some of the country’s wealthiest tycoons were entertaining a scenario where Ang could serve as a stabilizing force in the event of political paralysis.
The article also claimed that Manila’s elite were discussing the possibility of a military-backed “reset” to restore order and calm investor panic, instead of a traditional coup — an idea that has gained attention as corruption allegations and Cabinet exits have shaken the administration.
Politiko pointed to a worsening economic backdrop marked by plunging investor sentiment, a battered peso, and one of the world’s poorest-performing stock markets.
The situation further deteriorated after Sen. Imee Marcos publicly accused her brother, the President, of long-time drug use, raising doubts about his ability to remain in office. The allegations helped fuel a large anti-corruption protest in Metro Manila this November.
Against this backdrop, Politiko reported that some tycoons now believe the crisis has reached a point where “normal politics can no longer fix” the country’s problems.
Amid the swirl of rumors, Ang sought to redirect attention away from palace intrigue and toward national cooperation.
He emphasized that his role will remain outside electoral politics.
“Our country is facing many challenges, and it is understandable that people want things resolved quickly. But moving forward will never depend on one individual. It will take government, private sector, and the public all moving in the same direction,” he said.
This story is written and edited by the Global South World team, you can contact us here.
