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Wealthiest Expats
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Who are the wealthiest expats in the Philippines, and did they move to the PH with money, or did they make their wealth while living in the PH?
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Many American films are shot in the Philippines & Martin Sheen’s breakout role was in Apocalypse Now & actor R Lee Ermey was a soldier stationed in the Philippines when he began acting in Philippines films which got him cast in Hollywood films shot in the Philippines such as BOYS FROM COMPANY C. Michael Dudikoff’s breakout role was AMERICAN NINJA which was shot in Batangas. All of these American actors became famous because of work they did on film in the Philippines. Many American men became wealthy running GRO (Prostitute) bars. This is lucrative & unfortunately many local women have no option. The stream of foreign males coming to drink & pay for sex in the Philippines is an inelastic market (Or was) & many an American or Australian or European opened a bar of prostitution which made them rich. The average net is $10,000 a month for most. The big Makati ones make $50,000 a month. The Phil-Chinese & Spanish have telecommunications, finance, franchises locked down & generally a foreigner will struggle to get into a mall as a businessman. However, some Americans or British or Europeans run successful restaurants. Money-lending is generally Indian. And can be dangerous. Many Indians are shot & Indian female money lenders who are attractive have sometimes been lured somewhere to collect & been gang-raped. However, some Americans do manage to become successful money lenders. And there is no shortage of borrowers. Many Americans invest in property & build hotels or houses that they turn over. It is not uncommon for Americans or Westerners to become wealthy in the Philippines. But this is nothing new. The Spanish Filipino elite themselves are descended from Spanish men who came to the Philippines as sugar barons.
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One is Diosdado Banatao who invented 10-Mbit Ethernet CMO that made our computers run faster and became a USD billioner. He invited some Filipino investors to create a company in Silicon Valley to create this device. I believe he did not moved all his money back to the Philippines but he created scholarship foundation in the country.