Wednesday, October 20, 2010

I wanna be a billionaire so freakin' bad...

Have you heard? Jollibee Foods Corporation acquired 70% of Mang Inasal (a restaurant that sells grilled chicken, Bacolod style) for PhP3B. That's 3,000,000,000.00. Count it. Nine freakin' zeroes!

Jollibee: "Magkano ka?"

You may recognize Mang Inasal's owner/Chairman/CEO Edgar Sia II, from his Globe Negostar commercial -

I remember how he looks like because he reminds me a lot of my law school batchmate and friend, Rocky -

Injap Sia II - Rocky In An Alternate Universe

Jollibee's PSE disclosure states that Mang Inasal's annual revenues reach PhP2.6B per year. Regardless, I still think they got a good deal because only 24 of the 303 Mang Inasal branches nationwide are company-owned. The rest are franchises. Plus, Rocky In An Alternate Universe retains 30% ownership of his fastfood chain. Sweet.

If I had PhP3B, I'd probably lie around the house all day, play with Malik, shop, and check my bank account online every so often to see how much interest I've earned. But knowing how hardworking entrepreneurs can be, Rocky In An Alternate Universe is probably still in his office, thinking up ways to invest this money. This is why he's a billionaire while I remain a salaried employee! Argh.

(Click here and here to read more about Jollibee's recent acquisition.)

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