[2] He was a graduate of De La Salle high school class 41 and later on earned his Bachelor of Science in Mechanical Engineering at the University of the Philippines Diliman in 1948 and obtained Master of Business Administration at Harvard University in 1953.

Following his resignation from President Ferdinand Marcos's Kilusang Bagong Lipunan.

He criticized the administration's assassination of opposition Sen. Benigno Aquino Jr. With Marcos, Paterno said technocrats had free reins to handle the economy except in cement prices, as he felt Marcos knew little in economics but had an edifice complex.

Paterno won several awards – the Order of the Sacred Treasure from the Emperor of Japan, the 1982 MAP Management Man of the Year, and the 2013 Ramon V. del Rosario Award.

[4] He is survived by his wife Baby, his children Judy, Mailin, Maite, Victor and Tina, and his eight grandchildren.