Philippine media is still counting the losses from ABS-CBN's exit from free TV. Jobs were lost and millions are now without access to life-saving coronavirus news. But in corporate boardrooms, the changes are felt in the bosses' net worth.
The net worth of Oscar Lopez, who sits in the ABS-CBN Corp board, fell 48% to $240 million (P11.6 billion). He is the uncle of ABS-CBN Chairman Emeritus Eugenio "Gabby" Lopez III. The computations were released by Forbes Magazine in their annual billionaire's list.
On the other side of Quezon City, GMA Network President Felipe Gozon saw his net worth rise 17% to $170 million (P8.2 billion), Forbes said.
Put the shifting of billions in perspective. At P500 per person at a Samgyupsal restaurant, Lopez net worth is the equivalent of 23.2 million samgyup meals, enough to feed the entire Metro Manila twice.
Gozon's net worth of P8.2 billion could buy 16.4 million samgyup meals at P500 each, more than enough for Metro Manila.
ABS-CBN and GMA Headquarters are walking distance from each other, located in a portion of the city with many samgyup restaurants, some good, some bad, some with unlimited meats and free-flowing milk tea.
Of course, the shutdown is deeper than the stories told by individual net worth, click on our coverage below:
Why is Philippine Free TV a Duel Between Two Giants?
Haunting Goodbye Shows ABS-CBN Through Retrenched Workers' Eyes
Avoiding ABS-CBN's Issues? GMA Says it Will Buy PDRs
