MANILA, Philippines (The Adobo Chronicles) – He may be the only billionaire among his colleagues in the Philippines’ congress, and one of the highest paid world athletes, but Filipino champion boxer Manny Pacquiao is not on the Forbes list of richest Filipinos. His estimated net worth of 1.3 Billion pesos is not good enough.
But his assets are enough to buy an airline company — or at least one of its aircraft.
Today, the Malaysian budget airlines Air Asia unveiled the prototype logo that will be painted on the fuselage of its entire fleet. While still bearing the old Air Asia symbol, most of the aircraft is emblazoned with Manny Pacquiao’s name and photo. Flights will be coded ‘Pacman 101,’ Pacman 577,’ and so on.
Reliable sources said that Pacquiao has recently signed a deal buying the majority stocks of Air Asia. The sources declined to mention any purchase price, although they have indicated that Pacquiao’s expected earnings from his May 2 championship fight with Floyd Mayweather has already been committed towards the purchase.
Upon hearing the news, Bureau of Internal Revenue Commissioner Kim Henares ordered an investigation of the sale to determine if the boxer had assets that have not been declared and that needed to be taxed. The Philippines’ tax woman has been after Pacquiao for alleged non-payment of taxes for several years now.
Just recently, Pacquiao purchased a $12 Million Beverly Hills mansion formerly owned by rapper Sean Combs, also known as Diddy.