Filipino businessman Chavit Singson announces $17K Christmas gift for Olympic champion Carlos Yulo’s family

Filipino gymnast Carlos Yulo. Photo from Carlos Yulo's Instagram

According to PhilStar, Singson made the announcement on Saturday during a press briefing held at a hotel in Bacolod City.

At the briefing, Singson also reiterated his standing offer of 5 million pesos to Carlos, contingent on the gymnast reconciling with his mother Angelica Poquiz Yulo. He expressed his hope for Carlos to serve as a family role model by forgiving his mother for any past misunderstandings.

"Honor thy father and thy mother, that’s very important," Singson stated, emphasizing that there is no set deadline for Carlos to make his decision.

Carlos and his mother had a widely publicized dispute that attracted significant attention. The conflict began when Carlos posted a TikTok video on August 6, accusing his mother of mishandling his finances, misleading him about his gymnastics incentives, and falsely accusing his girlfriend, content creator Chloe San Jose, of financial exploitation.

In response, Angelica held a press conference the next day, expressing regret and explaining her actions by citing concerns over her children’s financial future.

"The money was given to me," she stated during the press conference, as reported by The New York Post. "As a mother, I was worried that my child might have financial problems in the future. So I invested it under my name."

Carlos, 24, is recognized as the most decorated Filipino gymnast in history, according to Forbes. He is the second Filipino to win a gold medal and the first to secure multiple golds at the Olympics.

Singson, 83, previously served as mayor of Narvacan city in the Philippines from 2019 to 2022. He also held multiple terms as governor of Ilocos Sur province, which includes Narvacan, from 1972 to 1986, 1992 to 2001, 2004 to 2007, and 2010 to 2013.

In addition, he was appointed Deputy National Security Adviser for the Philippine government in 2008.