The PH Billionaires club grows: Forbes’ 50 Richest Filipinos

Top business magazine Forbes just named their 50 Richest Filipinos, and it features a record number of billionaires: 21.

 

 

Some of the most recognizable names are:

● SM Investment Corp. owner Henry Sy at number 1, with a net worth of $13.7 billion

● JG Summit Holdings, Inc. Chairman Emiritus John Gokongwei, Jr. at number 2, worth $6.8 billion

● LT Group head Lucio Tan at number 4, with $4.9 billion

● Jaime Zobel de Ayala and his family at number 7, with a net worth of $4.1 billion

● Vista Land and Lifescapes Inc. founder Manuel Villar at number 12 with $1.84 billion

● Ramon S. Ang of San Miguel Corp. at number 16 with $1.21 billion

Others who made the list were the heirs of the late Andrew Gotianun, head of Filinvest Development, Tony Tan Caktiong of Jollibee Foods Corp., and his partner Edgar J. Sia II, a newcomer and Forbes’ biggest winner in terms of percentage.

Sia’s net worth doubled thanks to fast-rising DoubleDragon Properties, a mall and residence developer that he and Tan Caktiong own, though they have their original fortune set in Jollibee Foods Corp.

Husband and wife Lucio and Susan Co of Puregold Price Club also made the list at number 11 with a net worth of $2 billion. They have nearly 300 stores and are planning to put up an additional 25, making them the country’s second-largest food retailer.

According to the Forbes report, at least 5 of the 50 richest are invested in Ramon Ang’s San Miguel, one of the country’s oldest conglomerates. The list also includes 21 billionaires, up from last year’s 17. To see the full list, please click here.

 

Source: Forbes, Philstar.com, BusinessWorld, Inquirer.net