A wage earner-turned-millionaire, Toribio Teodoro (1887 – 1965) was an inspiring example of Filipino initiative and enterprise. He is a pioneer Filipino entrepreneur and industrialist.
The son of poor parents from Tondo named Julian Teodoro and Apolinaria del Mundo, he was born in barrio Matang Tubig (now Grace Park), in Caloocan, Rizal on April 27, 1887. Barely 12-years-old but eager to help his parents eke out a living, he began working in El Oriente, a cigar factory, earning a weekly salary of 80 centavos.
Full of ambition, industrious, and determined to improve hi lot in life, he gave up his initial job to start a business enterprise with his friend, Juan Katindig. On November 14, 1910, they opened a small shop at 821 Calle Cervantes (now Rizal Avenue) that sold shoes and slippers bearing “Ang Tibay” brand. The business was capitalized at only P210, of which P30 was put up by Katindig.
The two friends’ profitable partnership ended in 1921, when Katindig decided to venture into a new business. With his share of P43, 000 from their earnings, Toribio established his own “Ang Tibay Footwear". In 1958, the National Teachers College bestowed on him a doctor of business management degree, honoris causa, in recognition of his unique achievement in the field of business.
In 1961, he received the Legion of Honor award. Teodoro was only 16 years old when he married his first wife, Florentina Alcantara. He became a widower then later remarried. His second wife, Marta J. de Teodoro, gave him six children, namely, Toribia, Cecilia, Caridad, Prudencio, Francisco and Josefina. He died on August 30, 1965, in Frankfurt, Germany, while on a trip around the world.
The stamp above was issued on April 27, 1988.