Before Joseph Calata, the youngest billionaire in the Philippines status belonged to the then 35-year-old Edgar Sia – founder of a fast-food company called Mang Inasal. However, after achieving the billionaire status at the age of 31, Joseph Calata is now the current holder of the position.

Joseph Calata is credited as the person bringing the Calata Corporation to the Philippines’ top 1000 companies. He became the youngest Filipino billionaire at the age of 31 after a successful IPO of his company. In the PSE (Philippine Stock Exchange). Along with a billionaire status, he is also the youngest in the Philippines to hold the chairman position of a public corporation listed on the PSE. 

Let's learn more about him with Corner4men: 

Early Life And Education

The youngest billionaire in the Philippines was born in Bulacan on the 31st of July, 1980. In 2001, he graduated from De La Salle University as a Bachelor of Science in Management of Financial Institutions.

His father, Eusebio, worked in agriculture product trading. Isabela, his mother, used to be a working student before she married Eusebio and had him. Joseph Calata was raised in an environment that promotes entrepreneurial spirit.

He is the second son to middle-income parents who are dedicated to their retails store. Before attending a business school, he studied at a Catholic school in Bulacan. He wasted no time to join the business world as in university, he participated in an MLM (or multi-level marketing) that promote multivitamins and supplements.

After graduation, Joseph came back to work for the small store of his parents with a vision to expand the business and advance into the agricultural industry. And truth to be told, he succeeded in his endeavor and became a billionaire at a very young age.

Entrepreneurial Endeavor

The entrepreneurial spirit of the youngest billionaire in the Philippines led him to join a MLM (network marketing company) even before he graduated. He mainly sold multivitamins and supplements with this first job. He recruited and trained people and taught them how to sell.

In this kind of business, only 5% of people enjoy success while the rest will fail.

This business brought him P400,000 in commission. This endeavor showed his level of patience and persuasiveness that contributed to his later success.

After his graduation from the De La Salle University, the youngest billionaire in the Philippines engaged in the family business - J. Melvin's that later became a large company, bringing his family billions and himself the youngest billionaire title.

Developing Family Business

J. Melvin's was a small retail store specialized in poultry feed in Plaridel, Bulacan - Joseph Calata’s hometown.

When assuming the new leadership role, the youngest billionaire in the Philippines Joseph Calata introduced a new inventory and accounting system to the small business, along with other computerized innovations, which later contributed greatly to the growth of the company.

The talent of the youngest billionaire in Philippines helped add more branches to the store. Joseph Calata is known to bring the company steady growth and later turning it into the biggest distributor of veterinary medicine and agricultural products in the Philippines.

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The Making Of Calata Corporation

After a few years, the small poultry retail store, under the leadership of the youngest richest person in the Philippines, has become a giant in the agriculture industry.

It bought the first computer in 2001 and a year later, hired its very first salesman. In 2003, its revenue reach PHP 200 million. Three years later, the company made its first billion in sales. In 2012, its revenue reached PHP2.2 billion, opening a path for it to advance to the PSE (Philippine Stock Exchange).

On the 23rd of May, 2012, the corporation’s market capitalization stood at PHP 2.7 billion. Its stock price was PHP 7.50 each on the same day. It later increased to PHP 23.95 before experiencing a dip of 11.2%, compared to the initial price.

On the 8th of November 2015, the company broke the Guinness World Record for the biggest roast pork serving at the Quezon City Memorial Circle, dethroned the Mexican record. The feast was intended as a Christmas celebration for the less fortunate population of Metro Manila as well as the 16th anniversary of the company.

The youngest billionaire in the Philippines Joseph Calata also used this event to introduce the meat branch of the corporation. A clever marketing trick that attracts lots of attention.