Tag Archives: billionnaire

MANNY PACQUIAO BUYS MALAYSIAN BUDGET AIRLINE AIR ASIA

image
Photo credit: Eugene Caccam

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.

TAX-EVADING MANNY PACQUIAO PLANS TO BUY AN ENTIRE ISLAND

Manny Pacquiao
Manny Pacquiao

Sarangani, Philippines (The Adobo Chronicles) – Manny Pacquiao: world champion boxer, congressman, soon-to-be basketball player and coach, potential 2016 presidential candidate, billionaire and tax evader. What’s next for ‘Pacman?’

Today, Pacquaio announced his retirement plans to buy an entire island in Palawan, the southwestern Philippine province known for its pristine beaches, breath-taking land formations and world-class resorts and tourist destinations. There he will build his retirement home, or is it palace?

Immediately following the announcement, Bureau of Internal Revenue Commissioner Kim Henares put out a “keep an eye advisory” to the tax agency’s Palawan branch to make sure that Pacquiao will pay the appropriate property and other applicable taxes in connection with his planned island purchase. Previously, Henares had charged Pacquiao of  failing to pay taxes for his earnings in the boxing ring.

Pacquiao has dominated the headlines lately. In addition to his tax woes, he is reportedly eyeing the Philippine presidency come the 2016 elections. He has sealed an advertising agreement with KIA and signed up to be the Korean car company’s basketball player and coach in the Philippines’ professional basketball league. It was also revealed that Pacquiao remains to be the only billionnaire member of Congress, not to mention being the number one absentee.

Pacquiao is also known as ‘karaoke king, ” but almost everyone knows that already.

Pacquiao is still deciding which island in Palawan he will purchase.