Reclusive Philippine Tuna Tycoon Is Pious, Frugalff

From Philippine Press:

The man who successfully built a tuna business empire is a deeply religious man, frugal, and an introvert.

This was how the sons of tuna tycoon Rodrigo Rivera Sr. proudly described their father who, according to them, “will finally detach himself from the day-to-day operations of the conglomerate in three years.”

Rivera is the reclusive billionaire who heads the family-owned RD Group of Companies, a holding company that consists of 40 subsidiaries and major divisions.

The RD Group is engaged in various ventures including fishing, agri-business, manufacturing, processing, banking, pawning, insurance, real estate development, hotels and retailing of hardware and fishing supplies.

”He usually does not go out at night for social occasions. He keeps a few close friends,” Ritche Rivera, RD Group executive vice president and chief operating officer, said in a recent roundtable with journalists.

Ritche is now the second highest official of the conglomerate, next only to his father.

The elder Rivera raised from a lowly bank clerk to become a bank branch manager of the former Insular Bank of Asia and Commerce in the 1970s.

Now in his 60s, Rivera’s low-key personality, despite his resounding success, has shrouded him in mystery that, in one locally published story, he was described as “a shrewd and ruthless businessman.”

”That’s not true. He has a big heart,” defended Ronel, another son of the tuna tycoon.

Ronel is the RD Group vice president for operations.

Rivera took strong exceptions to the report, which focused on the most influential residents of the city, but did not file libel charges against the local writer.

”My father is a very pious man. He reads the bible daily. In fact, the spiritual growth of our employees takes a key priority of our companies,” Ronel added.

Ritche noted that in their corporate headquarters here, as a matter of policy of his father they allot a daily 30-minute slot for prayers.

”Praying, whatever the employees’ religion, is done during working hours. Which means we are paying them even if they are not working,” he said.

Although he shuns publicity, Rivera was elected president of a huge Bible society called Gideon Society of the Philippines for three consecutive terms from 1991.

As its head, he raised money to print Bibles for distribution in the country and at times to other Third World Countries.

Not surprisingly, the RD Group corporate logo carries a picture of the Bible and tuna fish.

Aside from being a keen religious believer, Rivera built his fortune because he values every centavo so much, according to Ritche.

”We did not grow up lavished with money. Back then if we ask P50 from him, there would be many questions. He is, in a way, frugal and does not waste money,” Ritche said.

Indeed, Rivera has come a long way.

He operates various tuna and other businesses not just here but also in Papua New Guinea and is still flexing his muscles elsewhere.

In February, the company forged a joint venture agreement on tuna with a partner in Indonesia.

In describing how they built the family business empire, Ritche said his father wakes up early like a bird, at 4 o'clock a.m., and sleeps late in the evening.

”Basically, he works while most of the world is still asleep,” Ritche noted.

Rivera’s perseverance, hard work and firm trust in God did not only pay off. It also earned fro himself distinctions and recognitions.

In 2004, the elder Rivera was one of the Entrepreneur of Year top contenders.

He was also named the Outstanding Countryside Investor of the Year as well as one of the Top 20 Employers in the Philippines in 1999.

He was appointed as Papua New Guinea Honorary Consul General for Mindanao in 2001 and received the Rajah Award of Excellence in 2004.

From a single pawnshop in 1976 after giving up his bank managerial job, Rivera's business empire has grown by leaps and bounds in just over two decades.

The pawnshop has expanded into a nationwide chain.

Rivera also brought a rural bank and successfully steered it to become what is now the Peninsula Rural Bank (Penbank).

But RD Group’s main flagship company is still the RD Fishing Industry Inc. although it has since branched out to processing, manufacturing and export business.

The company now exports canned tuna -in oil and in brine- to Europe, USA, Japan and other countries.

Its local brand goes by the label Diana and is sold in the Philippines.

To his sons Ritche and Ronel, the elder Rivera is just the dotting father whose faith in God led him to success.

Source: Philippine Press