The Filipino tycoon is fighting a long-running battle with the government over the temporary confiscation of 47.9% of San Miguel, which Cojuangco says he owns.
Nonetheless, the battle with debt was a sobering lesson and spurred the tycoon to hone his knowledge of international finance, inviting academics to his office for private tutorials.
At the same time, he became locked in a fierce battle with his business rivals, most notably Nusli Wadia, a textile tycoon and scion of a powerful Parsee family.