How Converge Founder Dennis Uy’s Passion For Electronics Made Him A Billionaire
From being a maintenance boy in his uncle’s supermarket, Dennis Anthony Uy rose to become the founder of Converge ICT Solutions, one of the Philippines’ largest operators of high-speed internet.
Like the rags-to-riches life story of Henry Sy Sr., Dennis’ family also migrated to the Philippines from China in 1978. He was 11 years old when he arrived in the country, along with his parents and siblings.
Even at a young age, Dennis was interested in electronics. He worked as a repair technician in his uncle’s supermarket’s maintenance department in Angeles City, Pampanga, while he was growing up. He wanted to learn more and widen his knowledge, so he enrolled in vocational training courses in refrigeration and air-conditioning. In college, he took up a degree in electrical engineering.
His passion for electronics fueled his drive to venture into several businesses. While studying, he would also buy, fix, and sell computers. He soon opened a Betamax rental shop. Finally, he ventured into something big and discovered the cable TV business.
While handling the cable TV business, he realized that he could expand it to offer internet broadband access. It wasn’t easy at all and he had to overcome a lot of failures and diversities. But in 1996, Dennis finally launched ComClark Network and Technology Corporation, his first internet service provider company. In 2007, he expanded it to become Converge Information and Communication Technology Solutions, Inc.
Dennis Uy makes it to Forbes’ Richest Filipinos
In 2020, Dennis and his wife Maria Grace took their company public and raised more than $500 million, considered one of the Philippines’ largest IPOs in recent years. That helped Dennis become one of Forbes’ 2020 Philippines 50 richest people with a net worth of $2.8 billion.
According to Forbes, Converge’s fixed broadband services now reach more than 9.6 million homes in 440 cities and municipalities across the Philippines.
Looking back, Dennis shared with Esquire that technology has always been his passion. He said that when he’s thinking of new innovations or working at improving his business, he doesn’t get tired because he truly enjoys it.
He said, “Yung technology, nasa puso ko na talaga. Pag ikaw ay hilig mo na talaga, parang wala kang pagod eh di ba? Hindi mo nararamdaman kasi nage-enjoy ka eh. Hindi mo na iniisip kikita ka o hindi pero nage-enjoy ka sa ginagawa mo and at the same time may na-introduce ka sa consumer. Never ending ang innovation. You need to keep practicing. Dyan ako napasok dito, nauna yung love while doing it.”