Manila, Philippines – SM tycoon Henry Sy tops this year’s Forbes’ list of 40 richest people in the Philippines, which includes the head honchos of some of the largest companies in the country.
Sy, who owns SM Prime, one of the country’s largest mall developers, remains on top of the list with a net worth of $9.1 billion. His net worth is up $1.9 billion from last year.
Second on the list is the Philippine Airlines’ Lucio Tan, with a net worth of $4.5 billion, up $1.7 billion from last year. Tan also has interests in beer production, tobacco and real estate.
At third place is Razon whose net worth surged by $2 billion to $3.6 billion. He heads the International Container Terminal Services Inc. (ICTSI), one of the largest port operators in Asia. He has expanded from shipping to gambling and resorts, holding a stake in Bloomberry Resorts, which had a public offering in May.
Former Trade Minister Roberto Ongpin ranked 9th with $1.5 billion. He has investments in property, gaming, mining and telecommunications.
Newcomers to the list include Puregold Price Club owners Lucio and Susan Co, who are number 13 on the list with a net worth of $1.2 billion; and Megawide Construction’s Michael Cosiquien, whose net worth of $150 million put him at the 39th spot.
Also on the list is real estate developer Senator Manuel Villar with a $720 million net worth. He is 18th on the list.
Media patriarchs Oscar Lopez, Gilberto Duavit, Menardo Jimenez and Felipe Gozon are also on the list.
Lopez, 31st on the list with a net worth of $245 million, is chairman emeritus of Lopez Holdings, which controls ABSCBN.
Duavit (26, $270 million), Jimenez (27, $265 million) and Gozon (32, $240 million) meanwhile, hold shares in GMA Network.
There are now 15 billionaires in the Philippines, Forbes said, who benefited from an ongoing consumer boom, a surge in tourism and outsourcing, a stock market which gained 17 percent in the past year and economic growth of 6.4 percent in the last quarter.
Forbes’ list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts and other sources. Net worths are based on stock prices and exchange rates as of the close of markets on June 8. Private companies were valued based on similar companies that are publicly traded.
The top 40 richest in the Philippines are: 1) Henry Sy $9.1 billion (SM Prime) 2) Lucio Tan $4.5 billion (Phillip Morris Fortune Tobacco) 3) Enrique Razon Jr. $3.6 billion (International Container Terminal Services) 4) John Gokongwei Jr. $3.2 billion (JG Summit) 5) David Consunji $2.7 billion (DMCI) 6) Andrew Tan $2.3 billion (Alliance Global) 7) Jaime Zobel de Ayala $2.2 billion (Ayala Corp.) 8) George Ty $1.7 billion (Metropolitan Bank) 9) Roberto Ongpin $1.5 billion (Atok-Big Wedge) 10) Eduardo Cojuangco Jr. $1.4 billion (San Miguel) 11) Roberto Coyiuto Jr. $1.3 billion (National Grid) 12) Tony Tan Caktiong $1.25 billion (Jollibee Foods) 13) Lucio and Susan Co $1.2 billion (Puregold Price Club) 14) Inigo and Mercedes Zobel $1.15 billion (Ayala Corp.) 15) Emilio Yap $1.1 billion (Philtrust Bank) 16) Jon Ramon Aboitiz $955 million (Aboitiz Equity Ventures) 17) Andrew Gotianun $825 million (Filinvest Development) 18) Manuel Villar $720 million (Vista Land and Lifescapes) 19) Beatrice Campos $700 million (Unilab) 20) Vivian Que Azcona $690 million (Mercury Drug) 21) Alfonso Yuchengco $570 million (Rizal Commercial Bank) 22) Mariano Tan Jr. $420 million (Unilab) 23) Enrique Aboitiz $400 million (Aboitiz & Co.) 24) Eric Recto $365 million (Alphaland) 25) Jose Antonio $300 million (Century Properties Group) 26) Gilberto Duavit $270 million (GMA Network) 27) Menardo Jimenez $265 million (GMA Network) 28) Frederick Dy $260 million (Security Bank) 29) Manuel Zamora Jr. $255 million (Nickel Asia) 30) Alfredo Ramos $$250 million (Atlas Consolidated Mining and Development) 31) Oscar Lopez $245 million (ABS-CBN) 32) Felipe Gozon $240 million (GMA Network) 33) Betty Ang $235 million (Monde Nissin) 34) Wilfred Uytengsu Jr. $230 million (Alaska Milk) 35) Juliette Romualdez $200 million (Banco de Oro) 36) Bienvenido Tantoco Sr. $195 million (Rustan Commercial) 37) Jacinto Ng Sr. $190 million (Rebisco) 38) Tomas Alcantara $160 million (Alsons Consolidated Resources) 39) Michael Cosiquien $150 million (Megawide Construction) 40) Edgar Sia II $140 million (Mang Inasal) ABS-CBNnews.
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