Philippine House Speaker Manny Villar passes the articles of impeachment against Philippine President Joseph Estrada.
Manuel "Manny" Bamba Villar, Jr. (Tagalog pronunciation: [blja]; born December 13, 1949) is a Filipino billionaire businessman and former politician. He previously served as senator from 2001 to 2013 and as the President of the Senate of the Philippines from 2006 to 2008. Before his stint in the senate, he represented the district of Las PiasMuntinlupa from 1992 to 1998, and Las Pias's at-large district from 1998 to 2001. He also became the speaker of the House of Representatives from 1998 to 2000; in this term, he presided over the impeachment of President Joseph Estrada. From 2019 to 2022, Forbes magazine named Villar as the richest individual in the Philippines, with an estimated net worth of $8.3 billion.
Villar was born to a poor family in Tondo, an impoverished and densely populated district of Manila. After graduating from the University of the Philippines, he worked as an accountant and financial analyst, then launched a highly successful business in real estate. Villar's companies have built over 200,000 homes, and his business career made him the wealthiest person in the Philippines.He ran for president in the 2010 presidential elections under the Nacionalista Party, but lost to Benigno Aquino III.
The Philippines ( (listen); Filipino: Pilipinas), officially the Republic of the Philippines (Filipino: Republika ng Pilipinas), is an archipelagic country in Southeast Asia. It is situated in the western Pacific Ocean, and consists of about 7,640 islands, that are broadly categorized under three main geographical divisions from north to south: Luzon, Visayas, and Mindanao. The Philippines is bounded by the West Philippine Sea to the west, the Philippine Sea to the east, and the Celebes Sea to the southwest, and shares maritime borders with Taiwan to the north, Japan to the northeast, Palau to the east and southeast, Indonesia to the south, Malaysia to the southwest, Vietnam to the west, and China to the northwest. The Philippines covers an area of 300,000 km2 (120,000 sq mi) and, as of 2020, had a population of around 109 million people, making it the world's thirteenth-most populous country. The Philippines is a multinational state, with diverse ethnicities and cultures throughout its islands. Manila is the nation's capital, while the largest city is Quezon City, both lying within the urban area of Metro Manila.
Negritos, some of the archipelago's earliest inhabitants, were followed by successive waves of Austronesian peoples. Adoption of animism, Hinduism and Islam established island-kingdoms called Kedatuans, Rajahnates and Sultanates. The arrival of Ferdinand Magellan, a Portuguese explorer leading a fleet for Spain, marked the beginning of Spanish colonization. In 1543, Spanish explorer Ruy López de Villalobos named the archipelago Las Islas Filipinas in honor of Philip II of Spain. Spanish settlement through Mexico, beginning in 1565, led to the Philippines becoming part of the Spanish Empire for more than 300 years. During this time, Catholicism became the dominant religion, and Manila became the western hub of trans-Pacific trade. In 1896, the Philippine Revolution began, which then became entwined with the 1898 Spanish–American War. Spain ceded the territory to the United States, while Filipino revolutionaries declared the First Philippine Republic. The ensuing Philippine–American War ended with the United States establishing control over the territory, which they maintained until the Japanese invasion of the islands during World War II. Following liberation, the Philippines became independent in 1946. Since then, the unitary sovereign state has often had a tumultuous experience with democracy, which included the overthrow of a dictatorship by the People Power Revolution.
It is considered to be an emerging market and a newly industrialized country, which has an economy transitioning from being based on agriculture to being based more on services and manufacturing. The Philippines is a founding member of the United Nations, World Trade Organization, Association of Southeast Asian Nations, the Asia-Pacific Economic Cooperation forum, and the East Asia Summit. The Philippines' position as an island country on the Pacific Ring of Fire and close to the equator makes the country prone to earthquakes and typhoons. The country has a variety of natural resources and a globally significant level of biodiversity.