The internet has been abuzz with queries about Francisco Tiu Laurel Jr’s net worth. This interest has been piqued by his recent appointment as the new chief of the Department of Agriculture (DA) in the Philippines. Laurel is a well-known figure in the fishing industry, heading the successful Frabelle Fishing Corporation, a company that has made significant strides in deep-sea fishing and serves both local and international markets with a variety of seafood products.
Laurel’s association with Ferdinand Marcos Jr’s Private Sector Advisory Council is well-documented, and his recent appointment as DA Chief by President Marcos has only increased his public visibility.
In his new role, Laurel takes over from Marcos, who served as a Cabinet Secretary for two years. The transition sees the leadership of the Department of Agriculture pass into the hands of an individual whose wealth is often described as being in the billions, hence the increased interest in his exact net worth.
While numerous online searches have been conducted, no verified media sources have yet confirmed the precise figure of Francisco Tiu Laurel’s net worth. Despite the lack of official data, Laurel’s reputation as a billionaire fishing expert offers some insight into his potential wealth. His long-standing engagement in the fishing industry and his position in the family-run Frabelle Fishing Corporation imply a considerable income.
The reach of Frabelle extends beyond the local market, with a considerable presence in Asia, Europe, the Middle East, South Africa, and America. This global expansion of the company, originally established as a small trawl fishing operation in the Philippines, is a testament to the Laurel family’s business acumen.
In addition to his role at Frabelle, Laurel also holds several other significant positions. He serves as the president of the Agusan Power Corporation and chairs the World Tuna Purse Seine Organization. His appointment as DA Chief comes on top of his role as a member of the government’s Private Sector Advisory Council.
Laurel’s career is not only marked by his entrepreneurial success but also by his hands-on experience in the fishing industry. In a 2016 interview, he revealed spending an average of 45 days at sea over five years, aboard their fishing vessels, which he described as a learning experience.
His appointment as the new agriculture secretary by Filipino President Ferdinand Marcos Jr further underscores his influence and expertise in the industry. Marcos expressed confidence in Laurel’s understanding of the tasks ahead, while an online report also suggested that Laurel was one of Marcos’ most significant contributors in the 2022 elections.
