Introduction
Michael Cosiquien is one of the most successful self-made billionaires in the Philippines. He is widely known as the co-founder and CEO of Megawide Construction Corporation, one of the most prominent construction and engineering firms in the country. Throughout his career, he has built a fortune that has left many people in awe. So, how did Michael Cosiquien build his impressive net worth, and what can we learn from his success? We will discuss this in detail in the following sections.
The Early Years
Michael Cosiquien, born in 1975, had a humble beginning. He grew up in a small town in Pampanga, where he was raised by his parents. Despite coming from a low-income family, he was academically gifted and received a scholarship at the Mapua Institute of Technology, where he graduated with a degree in Civil Engineering in 1996.
Starting His Career
After graduation, Michael joined a construction firm, where he worked for several years. However, he soon realized that he wasn’t satisfied with his work. He wanted to start his own business and make a significant impact in the construction industry.
Co-founding Megawide
In 1997, Michael co-founded Megawide Construction Corporation with his friend Edgar Saavedra. The company started small, with only a few employees, but it grew rapidly. Within a few years, Megawide had become one of the most prominent construction and engineering firms in the Philippines. It was listed on the Philippine Stock Exchange in 2011 and has continued to grow ever since.
The Success of Megawide
Megawide’s success can be attributed to Michael’s leadership skills and his ability to identify and take advantage of opportunities. Under his direction, the company has diversified its services, including airport and infrastructure development, commercial and residential construction, and engineering and design services. Megawide has also won several awards and recognition, including the Ernst and Young Entrepreneur of the Year Philippines in 2015.
Investing in Other Businesses
Apart from Megawide, Michael has also invested in other businesses. These include Atlas Mining and Development Corporation, Philippine Racing Club, and Century Properties Group Inc., to name a few. These investments have helped diversify his portfolio and increase his net worth.
Philanthropic Endeavors
Michael has also been very active in philanthropy. He established the Cosiquien Saavedra Foundation, which works to provide scholarships and financial assistance to deserving students across the Philippines. Michael believes in the importance of giving back to the community and has made it a priority in his life.
The Future of Michael Cosiquien
As for the future, Michael’s current focus is on expanding Megawide’s services and investments. He has also expressed his desire to venture further into the energy and power sectors. It’s clear that Michael Cosiquien’s success story is far from over.
Conclusion
Michael Cosiquien’s journey to success is an inspirational tale of hard work, passion, and perseverance. From a humble background, he built a business empire that has transformed the construction industry in the Philippines. With his entrepreneurial spirit and strong leadership skills, he serves as an inspiration for aspiring business leaders worldwide.
FAQs
Q: What is Michael Cosiquien’s net worth?
A: According to Forbes, Michael Cosiquien’s net worth is estimated at $1.1 billion.
Q: How old is Michael Cosiquien?
A: Michael Cosiquien was born in 1975, making him 45 years old.
Q: What is Megawide Construction Corporation?
A: Megawide Construction Corporation is one of the most prominent and highly diversified engineering and construction firms in the Philippines.
Q: How did Michael Cosiquien start Megawide Construction Corporation?
A: Michael Cosiquien co-founded Megawide Construction Corporation with Edgar Saavedra in 1997.
Q: Is Michael Cosiquien involved in philanthropy?
A: Yes, Michael Cosiquien is actively involved in philanthropy and has established the Cosiquien Saavedra Foundation to provide scholarships and financial assistance to deserving students across the Philippines.