Lululemon Athletica Inc. founder Chip Wilson and his wife and longtime business partner, Shannon “Summer” Wilson, are reportedly divorcing after more than two decades of marriage.

A family legal proceeding between the couple was filed in the Supreme Court of British Columbia in April, though the contents of the case are not publicly accessible, Bloomberg reported.

Bloomberg, citing a person familiar with the matter, also reported that there is no prenuptial agreement between the couple, though it remains unclear how the divorce could affect the division of their assets.

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Chip Wilson, founder of Lululemon Athletica, and his wife, Shannon “Summer” Wilson, attend a news conference in Vancouver, British Columbia, on Sept. 15, 2022. (Taehoon Kim/Bloomberg via Getty Images)

Lululemon and Chip Wilson could not immediately be reached by FOX Business for comment.

Chip Wilson, 71, founded Vancouver-based Lululemon in 1998, according to Bloomberg.

He is widely credited with helping pioneer the athleisure apparel market.

According to the Bloomberg Billionaires Index, Chip Wilson has an estimated net worth of roughly $6.1 billion.

Summer Wilson, 52, served as the company’s founding lead designer, according to her website. Chip Wilson has previously credited her with playing a key role in building the brand during its early years, Bloomberg reported.

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Chip Wilson is widely credited with helping pioneer the athleisure apparel market. (Taehoon Kim/Bloomberg via Getty Images)

The couple married in 2002.

Though both left the company more than a decade ago, Chip Wilson remains one of Lululemon’s largest shareholders and has continued to publicly weigh in on the retailer’s direction, Bloomberg reported.

He owns roughly 8.6% of the company, a stake worth just under $1 billion, while Summer Wilson owns nearly 1%, valued at about $100 million, according to Bloomberg.

Under British Columbia law, assets owned before a marriage generally remain excluded from division, while any increase in their value during the marriage is generally considered family property and is typically divided equally.

“In British Columbia, the value of assets brought into the marriage is not shareable, but the gain is called family property and presumptively divided 50-50,” Lorne MacLean KC, founder of Vancouver-based MacLean Law, told The New York Post.

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Chip Wilson remains one of Lululemon’s largest shareholders and has continued to publicly weigh in on the retailer’s direction.  (Isabella Falsetti/Bloomberg via Getty Images)

The Wilsons’ reported split joins a number of high-profile billionaire divorces in recent years.

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Amazon founder Jeff Bezos and MacKenzie Scott finalized their divorce in 2019. Scott received a roughly 4% stake in Amazon, then valued at about $36 billion, BBC News reported at the time.

In 2021, Microsoft co-founder Bill Gates and Melinda French Gates divorced after 27 years. Following the announcement, Bill Gates transferred billions of dollars in stock to Melinda French Gates, according to Vanity Fair.

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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Foreign investors register companies in Thailand via structuring, name reservation, incorporation, and licensing, depending on activities and ownership limits, with options like BOI promotion or US-Thailand Treaty benefits.

Company Formation Process in Thailand

Foreign investors typically establish a company in Thailand by following steps such as company structuring, reserving a company name, registering with the Department of Business Development (DBD), and completing necessary tax, licensing, and employment registrations. The specific pathway depends on the company’s activities and the extent of foreign ownership, which influences licensing and regulatory requirements.

Foreign Ownership and Activity Restrictions

A Thai-incorporated company is generally considered foreign under the Foreign Business Act (FBA) if foreigners own at least 50% of its capital. Certain business activities are restricted for foreign investors, making the company’s intended operations vital for determining permissible ownership levels and licensing options.

Licensing and Special Routes for Foreign Investors

For restricted activities, a foreign-owned company may need a Foreign Business License (FBL). Alternatively, companies with BOI promotion can obtain a Foreign Business Certificate, while US investors might qualify under the US-Thailand Treaty of Amity, subject to specific criteria. Establishing directors, signing authorities, and reserving a compliant company name are essential steps before incorporation.

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TELLURIDE, Colo. — A years-in-the-making documentary about disgraced Theranos founder Elizabeth Holmes, secretly filmed by comedian Nathan Fielder just weeks before she reported to federal prison, made its world premiere Sunday night at the Telluride Film Festival, revealed as the event’s long-rumored mystery screening.

The film, titled “You Can See Everything,” is co-directed by Fielder, best known for the comedic series “Nathan for You” and “The Rehearsal,” and Lance Oppenheim, the documentary filmmaker behind “Some Kind of Heaven” and the recent Robert Pattinson-starring film “Primetime.” The A24-backed project is set for release in theaters in October.

According to the film’s official logline, “thirty-four days before she’s sent to prison, notorious Silicon Valley founder Elizabeth Holmes invites a skeptical film crew to document her every move. What begins as an intimate portrait of an enigmatic felon becomes a mind-bending three-year journey into the abyss.”

Deadline reported that just 36 days before reporting to Federal Prison Camp in Bryan, Texas, Holmes, who had not given an interview in nearly a decade at that point, invited Fielder and his crew into the San Diego home she shared with her partner and the father of her two children, Billy Evans, under the understanding that “you can see everything.” The resulting hybrid documentary runs nearly three hours.

A24 shared a teaser trailer for the film Sunday night, featuring Holmes speaking to Fielder from her couch as she pushes back on suggestions she is being dishonest.

“I’m not that person, I can promise you that. I don’t have anything to deceive you on, of course I’m not deceiving you,” Holmes says in the clip. “I’m engaging with you as a human being. Why would I deceive you? There’s no reason for me to do that.”

Fielder presses her further in the exchange.

“Okay. Alright. Okay, good chat … You’re being real right now?” Fielder asks.

“I’m always being real,” Holmes replies, before the camera pulls back to reveal her infant daughter in a bouncer nearby.

Holmes and Evans welcomed their second child together, a daughter named Invicta, Latin for “invincible,” following the birth of their first child, son William Holmes Evans, in July 2021.

Sunday’s screening was staged with unusual secrecy. Festival organizers took away cell phones from every attendee at the Herzog Theatre before revealing the surprise film to a packed house, following days of speculation over what the mystery screening might turn out to be.

Speaking during a question-and-answer session following the premiere, Fielder described his own continued uncertainty about what he had captured over the course of the project, despite following Holmes and Evans for three years.

“What I am really excited about is for you to see the movie and tell me what I experienced,” Fielder said. “I don’t know why they wanted me there. Why am I there?”

Fielder elaborated further on that sense of confusion in comments reported by Rolling Stone, describing repeated conversations with Oppenheim and the rest of the crew as they tried and failed to reach consensus on what they were witnessing inside Holmes and Evans’ home.

“Lance and I would talk with the rest of the crew about what we thought happened or what we thought these moments meant, and no one could reach a consensus,” Fielder said. “And that’s when we really realized, ‘Oh, this is really interesting to follow this. We’re all smart and we’re really working at the top of our intelligence — why can’t we make sense of what’s happening in this house?’”

Fielder said that uncertainty has persisted even after the project’s completion.

“I really am struggling to this day to understand exactly what I experienced,” Fielder said. “And one of the things I’m genuinely excited about is for this movie to come out and for people to help me understand what I experienced. Truly, to this day, I don’t quite know what I went through.”

Variety’s review of the film, published following the Telluride premiere, described the documentary as a fascinating and shameless look at Holmes’ continued self-presentation, noting scenes in which Evans takes an active role in managing his partner’s public image, including allowing the iconic photograph of Holmes making an “OK” hand gesture to be used on billboards and striking a profit-sharing arrangement with A24 executives, a negotiation that reportedly appears within the film itself. According to the review, Holmes maintains throughout the documentary that she never cared about money, even as questions of the value tied to her name and image remain central to the story the film ultimately tells.

Holmes’ rise and fall as the founder of Theranos, the blood-testing startup that promised to revolutionize diagnostic health care before being exposed as fraudulent, has already been chronicled in Hulu’s 2022 miniseries “The Dropout,” starring Amanda Seyfried. Holmes has previously told People she found that dramatization “difficult” to watch.

Holmes began serving her prison sentence on May 30, 2023, following her conviction on multiple counts of fraud tied to Theranos’ collapse. She is now more than three years into an 11.25-year sentence, reduced to nine years for good behavior, and remains incarcerated at Federal Prison Camp Bryan in Texas, with an expected release date of Dec. 30, 2031.

In her most recent interview with People, conducted in February 2025, Holmes continued to maintain her innocence, describing the experience of being separated from her young children as something that “shatters her world.”

“It’s surreal. People who have never met me believe so strongly about me. They don’t understand who I am,” Holmes said at the time. “It forces you to spend a lot of time questioning belief and hoping the truth will prevail. I am walking by faith and, ultimately, the truth. But it’s been hell and torture to be here.”

With “You Can See Everything” set to expand into wider theatrical release in October, the film is expected to reignite public fascination with Holmes’ story, offering audiences an unusually intimate, if deliberately ambiguous, look at the weeks immediately preceding her imprisonment, filtered through the lens of two filmmakers who, by their own account, remain uncertain what to make of what they witnessed even years after the cameras stopped rolling.

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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Running a business requires more than just hard work—it also requires smart financial management. Whether you’re a startup founder, freelancer, online seller, contractor, or owner of a growing SME, having the best business credit card in the Philippines can help improve cash flow, earn valuable rewards, simplify expense tracking, and even provide emergency funding when needed.

Business credit cards have become an essential financial tool for entrepreneurs because they offer benefits that personal credit cards often don’t. From cashback on office supplies to travel rewards for business trips and extended payment terms for inventory purchases, choosing the right card can save your business thousands of pesos every year.

In this guide, we’ll discuss how business credit cards work, their advantages, and the factors you should consider before applying.

Why Your Business Needs a Business Credit Card

Many Filipino entrepreneurs still rely on personal credit cards for business expenses. While this may work initially, it often creates accounting problems and makes expense tracking difficult.

A dedicated business credit card allows you to:

• Separate personal and business expenses.
• Improve bookkeeping and accounting.
• Manage company cash flow more effectively.
• Build your business credit profile.
• Earn cashback, travel miles, or reward points.
• Receive purchase protection and insurance benefits.
• Access installment plans for large purchases.

For businesses that regularly purchase supplies, pay for digital advertising, or travel frequently, these benefits can quickly outweigh the annual fees.

Benefits of Business Credit Cards

1. Better Cash Flow Management

One of the biggest advantages is extending your payment period. Instead of paying suppliers immediately, you can use your credit card and pay during the next billing cycle.

This provides additional working capital that can be used for inventory, payroll, or operational expenses.

2. Cashback Rewards

Many business credit cards offer cashback on categories such as:

• Fuel
• Office supplies
• Utilities
• Dining
• Online advertising
• Telecommunications

These savings accumulate over time and reduce overall operating costs.

3. Reward Points

Reward points can often be redeemed for:

• Gift certificates
• Office equipment
• Travel vouchers
• Airline miles
• Cash credits

For businesses with high monthly spending, rewards can become a valuable source of additional savings.

4. Travel Benefits

Business owners who travel frequently can enjoy:

• Airport lounge access
• Travel insurance
• Airline miles
• Hotel discounts
• Priority check-in

These perks improve the overall travel experience while reducing travel expenses.

Features to Look for in a Business Credit Card

Low Annual Fees

Compare annual membership fees and determine whether the benefits justify the cost. Some banks waive annual fees based on spending requirements.

High Credit Limits

Businesses with significant monthly expenses should look for higher credit limits to avoid maxing out their cards.

Flexible Installment Options

Installment conversion allows businesses to spread payments over several months without straining cash flow.

Expense Management Tools

Some banks provide online dashboards and downloadable statements that simplify accounting and tax preparation.

Fraud Protection

Choose cards with:

• Real-time SMS alerts
• Mobile app controls
• Purchase protection
• Zero liability protection

Common Business Expenses You Can Charge

• Office rent
• Utilities
• Internet subscriptions
• Software subscriptions
• Facebook Ads
• Google Ads
• Office furniture
• Laptops
• Printers
• Business travel
• Hotel bookings
• Fuel
• Inventory purchases
• Courier services
• Employee meals during meetings

How to Choose the Right Business Credit Card

Not every business has the same spending habits.

Consider these questions:

• Do you spend heavily on fuel?
• Do you travel frequently?
• Do you run online advertisements?
• Do you need installment financing?
• Do you prefer cashback over reward points?
• Will multiple employees use supplementary cards?

Answering these questions helps narrow down the most suitable option.

Tips for Using Business Credit Cards Responsibly

Pay the Full Balance Every Month

Avoid carrying balances whenever possible. Interest charges can quickly outweigh any cashback or rewards earned.

Track Employee Spending

If your company issues supplementary cards, establish clear spending limits and regularly review transactions.

Keep Receipts

Maintain receipts for accounting, tax filing, and auditing purposes.

Monitor Your Statements

Review your monthly statement to identify unauthorized transactions and billing errors.

Who Should Get a Business Credit Card?

Business credit cards are ideal for:

• Small business owners
• Freelancers
• Online sellers
• Importers
• Contractors
• Consultants
• Professionals with business expenses
• Corporations
• Partnerships
• Startups

Common Requirements When Applying

Although requirements vary by bank, applicants are commonly asked to provide:

• Government-issued IDs
• Business permits
• SEC or DTI registration
• BIR Certificate of Registration
• Latest Income Tax Return
• Bank statements
• Financial statements
• Proof of business income

Some banks may also require a minimum annual business revenue or years in operation.

Mistakes to Avoid

• Using business cards for personal shopping.
• Making only minimum payments.
• Applying for multiple cards simultaneously.
• Ignoring annual fees.
• Missing payment due dates.
• Not monitoring employee purchases.
• Exceeding your available credit limit.

Frequently Asked Questions

Can sole proprietors apply?

Yes. Many Philippine banks allow sole proprietors with registered businesses to apply, provided they meet income and documentation requirements.

Can freelancers get a business credit card?

Yes. Freelancers with consistent income and proper business registration may qualify depending on the bank’s underwriting policies.

Is a business credit card different from a corporate card?

Yes. Business credit cards are generally intended for small businesses and entrepreneurs, while corporate cards are designed for larger companies with multiple employees and centralized expense management.

Does using a business credit card improve credit history?

Responsible usage, such as paying on time and maintaining low balances, can strengthen your financial profile with the issuing bank and may support future financing applications.

The right business credit card is more than just a convenient payment method—it is a valuable financial tool that helps entrepreneurs manage cash flow, simplify accounting, earn rewards, and finance business growth.

Before applying, compare annual fees, interest rates, reward programs, cashback categories, travel benefits, and eligibility requirements. The best choice depends on your company’s spending habits and financial goals.

Used responsibly, a business credit card can become an important part of your company’s financial strategy while helping you save money, improve operational efficiency, and access additional purchasing power whenever opportunities arise.

Business News Philippines was launched in October 2015 as a portal for readers to learn more about operating a business in the Philippines.

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