Dennis Uy Biography, Business Story, Net Worth

Dennis Uy is a Filipino entrepreneur. He is the founder and chairman of Udenna Holdings Corp., a fast rising conglomerate established in 2002. He is listed by forbes.com as the 22nd richest Filipino in 2021 with a net worth of $650 million.

Dennis Uy
Dennis Uy (Photo Credit: Udenna Group)

Personal Information
Complete Name –> Dennis Ang Uy
Birth Date –> September 26, 1973 (age 47)
Hometown –> Davao City, Philippines

Family
Wife –> Cherylyn Chiong (Originally from Iligan City in Lanao del Norte)
Children –> 3

Education
College –> De La Salle University
Degree –> Bachelor of Science in Business Management

Family and Business History
Dennis Uy comes from a well-known Davao-based business family with interests in mining, supermarkets, and car dealership. After graduating from college, he got involved in the management of the family businesses. Years later, he left the family businesses to strike on his own.

He went back to Manila and established Dencio’s Kamayan, a chain of restaurants with barbeque as its specialty. He also continued to play the stock market which he started when he was still a student. His business was expanded to include two newspapers for the Davao Region market but this endeavor soon folded up.
In 2002, he put up Udenna Corporation as a holding company to handle the management of his various businesses which by then included petroleum retail stations. He sold his restaurant business to his sister in order to focus on petroleum distribution and logistics. He built the largest oil terminal in the Davao region under the business name Davao Oil Terminal Services Corp. (DOTSCO). In 2006, he adopted the name Phoenix Petroleum and in the following year, an initial public offering (IPO) was conducted. Now listed as a public company, expansion became easier and faster.

In 2016, Dennis Uy was reported as one of the largest contributors to the presidential campaign of Rodrigo Duterte. Since then, Udenna Corporation began a massive expansion, buying well-known companies like shipping and logistics 2Go (divested later to SM Group), Global Gateway Logistics City in Pampanga and Enderun Colleges. At the same time, Phoenix Petroleum rolled out a nationwide expansion, making it a serious competitor to oil retail giants Petron, Shell and Caltex. Moreover, Dennis Uy secured a permit from the Philippine Amusement and Gaming Corporation (PAGCOR) to establish a casino resort in Mactan Island beside the Cebu-Mactan International Airport.

Dennis Uy’s biggest project to date is Dito Telecommunity, the third telecommunications company in the Philippines. It is partly owned by Chinese state-owned China Telecommunications Corporation.

In August 2021, F2 Logistics, a firm connected to Dennis Uy, won a contract with the Commission on Election o transport election supplies and paraphernalia.

Major Businesses / List of Companies owned or Controlled

Udenna Holdings Corporaion
Phoenix Petroleum
Chelsea Logistics and Infrastructure Holdings (mother company of 2GO Group)
PH Resorts Group Holdings, Inc.
Dito Telecommunity Corporation
Atok-Big Wedge Co. Inc. (indirect owner of oil exploration permit in he West Philippine Sea)
Dito Communications Media Entertainment (Dito CME, a media company)
Phoenix Fuel Masters Basket Team (a member of the Philippine Basketball Association or PBA)

Awards
International Chamber of Commerce (ICC) Global Excellence Award

RELATED: Biography of Manny Pangilinan, David Consunji, John Gokongwei

See also: Famous Filipino Entrepreneurs

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