A controversial businessman (CB) whose empire has blossomed to encompass the four elements – earth, water, air and fire – over the last six years knows the good times are about to end with President Rodrigo Duterte failing to field a successor candidate to sustain his influence for another six years.
CB has reportedly put up an “Everything Must Go” sign on all his businesses in a bid to cash out before a new administration takes over in July this year.
Multiple Babblers revealed that CB has offered his vast business portfolio to a number of bilyonaryos during the Christmas holiday. But so far, the majority of buyers have been dismayed by CB’s asking price which was far from the fire sale they expected.
CB’s exit strategy is to squeeze out as much value from each of his holdings even though all his buyers know time is not on his side and the next president is unlikely to give him the VIP treatment he got from the current administration.
Among CB’s businesses, his “earth” assets are deemed the least attractive as these are involved in industries that bore the brunt of the pandemic.
His “water” assets are also in bad shape as both are drowning in debt. His “air” asset is intriguing but his best shot is for a rival to buy him out. His “fire” assets are the most sought among buyers looking for cash cows.
CB has already bubble-wrapped his stuff from his brand new office and just like the song, he’s ready to leave on a jet plane to take him to his second home overseas.