'Today, every step for me has meaning': Manny V. Pangilinan explains what true wealth is

For tycoon Manny V. Pangilinan, more than luxury cars, the real sign of wealth is having "family, friends, faith, and the determination to stand and walk again." 

To mark the 45th anniversary of his investment management and holding company First Pacific on May 23, the 79-year-old business magnate shared bits of wisdom he gathered from his decades in the business, as well as from his recent knee surgery.

Pangilinan explained he belatedly realized the broader health implications his surgery would have on his daily life. 

"Every small step has become a major achievement. Suddenly, standing up feels like winning a badminton championship. Walking across the room deserves applause. And finding a comfortable sleeping position takes more engineering than designing a power plant," he said. 

The badminton aficionado admitted that his current health situation, which requires him to temporarily use a wheelchair, has forced him to face a difficult fact: "No matter how successful we become, our knees remain completely unimpressed."

Being wheelchair-bound, Pangilinan has had to momentarily ignore his luxury cars in favor of his 16-year-old "thrice-depreciated" van. It is the only vehicle in his garage big enough to carry him and his wheelchair. 

"I used to think that walking was simply natural. Today, every step for me has meaning. Every small improvement feels like a victory. And the simple things—standing up comfortably, getting into a vehicle, moving around independently—become blessings I no longer take for granted," Pangilinan said. 

Early days

Further inspiring his audience, he recalled the early days of his company, when he, then 35, opened his first office in Hong Kong with business partner Bob Meyer. The 50-square-meter space with rented furniture could barely fit his entire staff of four people: a secretary each for himself and Meyer, a messenger, and the office driver. 

Although the team lacked experience, they had enough passion for their work to pave the way to success. It was a valuable learning period for Pangilinan in hindsight. 

"There is something sacred about small beginnings that you cannot feel until they are behind you. There was freedom in being young. We risked freely. We didn't have much in experience and money, but we made up for it in sheer energy, in daring, in taking risks, and almost being promiscuous with it," the tycoon said. 

Pangilinan's first company eventually made remarkable investments in companies all over the world, including banks, factories, trading conglomerates, real estate developers, security service providers, and iconic F&B brands. 

He enumerated the ways his group today has made itself apparently indispensable in the daily lives of many Filipinos, providing "the water people drink in the morning, the power that lights their homes at night, the roads that take them to work, the connections that keep them close to the people they love."

Although all these businesses thrive on predictability, Pangilinan said there is merit in uncertainty. 

"We shouldn't dislike the mystery brought by the unknown in our lives. I know it makes life more complicated for us, but it's also what makes living so dynamic, so alive, so interesting," he said. "Variety and doubt in life go hand in hand because views, beliefs, approaches, and doubts are all part of life’s rich tapestry."