Forbes Magazine’s has released its latest list of 50 richest people in the Philippines. And despite the pandemic, their collective wealth rose 30% to $79 billion this year!
As we are only counting down the top five, here are the other billionaires who made it to 6th to 10th place: Dennis and Maria Grace Uy (Converge), Tony Tan Caktiong (Jollibee), Andrew Tan (Megaworld), Ramon Ang (San Miguel Corporation), and Ty Siblings (Metrobank). Airline and Liquor Tycoon Lucio Tan, who has always been part of the list, dropped out of the Top 10.
So, here they are, people: the top five richest Filipinos to date (based on shareholding and financial information obtained from the families and individuals, stock exchanges, analysts, and other sources. The minimum net worth to make the list this year was $200 million).
1. Sy siblings
The heirs of late retail magnate Henry Sy Sr. added $2.7 billion to their fortunes this year, grabbing the top spot with a combined net worth of $ 16.6 billion.
2. Manuel Villar
The 71 year old former senator, who has built a multi-billion dollar retail and property empire,held on to the second spot with his wealth rising by $1.7 billion to $6.7 billion.
3. Enrique Razon Jr.
The Ports and casino magnate is the third wealthiest in the country. Razon grew his net worth from $1.5 billion to $5.8 billion after taking the reins of Manila Water Co. Inc. from the Zobel clan.
4. Lance Gokongwei and his siblings
The heirs of late JG Summit Holdings Inc. founder John Gokongwei boasts of a collective net worth of $4 billion. They are the family behind Robinson’, URC and Cebu Pacific.
5. Jaime Zobel de Ayala
Secured the fifth place with a fortune of $3.3 billion.