Edgarcia II net worth
Edgarcia II Net Worth: Edgar Sia II is a Filipino businessman who has a net worth of $140 million. The son of grocer Edgar Sia II dropped out of college in 2003 to start a fast-food chain, Mang Inasal. Within a few years, it had transformed from a local burger chain to a national chain with about 380 stores.
Known for its chargrilled chicken with rice and other unique Filipino flavors, the barbecue chain proved so successful that it earned Edgar Sia II billionaire status. Edgar Sia II became a billionaire for the first time in 2010 when he sold the bulk of his eight-year-old business, Mang Inasal, to Jollibee Foods, owned by Tony Tan Caktiong, for $65 million. He still owns a 30% stake in the chain, and he went on to establish Ssangyong Properties in association with Tony Tan Caktiong, focusing on the commercial and mass housing markets. As for recent business investments, they include the franchise of Jin Jiang Inn, a Chinese budget hotel chain that will open its first hotel in Manila this year. In addition, he holds a minority stake in Bank of Communications of the Philippines and serves as an advisor to the bank’s board of directors. Edgar Sia II shared his wealth with his brother Ferdinand and his sister Riza.
