Henry Sy remains PH’s richest for 10th consecutive year
A large number of the country’s billionaires shifted rankings and some even dropped out of the list but the reigning wealthiest remained at the top.
Retail tycoon Henry Sy Sr. claimed the title of the richest person in the Philippines for the 10th year in a row, based on the 2017 country ranking made by Forbes Magazine.
Sy, with interests in banking (through BDO Unibank and China Bank), retailing (SM Retail), and property development (SM Prime Holdings), added $4.3 billion to his net worth, building his wealth up to $18 billion today.
Taipan John Gokongwei, who owns the chain of Robinsons malls, budget carrier Cebu Pacific, food manufacturing giant Universal Robina Corp., trailed behind Sy in second place with a net worth of $5.5 billion. The amount is $1.3 billion lower than the previous year.
Ports and casino magnate Enrique K. Razon moved up one position this year to clinch third spot with his fortune reaching $4.3 billion. He heads the country’s leading terminal operator, International Container Terminal Services Inc., and Solaire Resort & Casino.
Tobacco and airllines tycoon Lucio Tan ranked fourth with a net worth of $4.2 billion. He owns Asia’s oldest airline Philippine Airlines, Tanduay Distillers Inc., Asia Brewery and Eton Properties.
Coming in at number 5 on the Forbes list is Jaime Augusto Zobel de Ayala with a fortune of $3.7 billion. He chaired the Ayala Group until retiring in 2006 when his son Jaime II or JAZA took over. Starting out as a distillery in Manila, the Ayala Group has expanded the business to include banking (BPI), real estate (Ayala Land), hotels, telecommunications (Globe), education, automotive, and electronics manufacturing.
Completing the top 10 list are David Consunji ($3.68 billion), Metropolitan Bank founder George Ty ($3.6 billion), Jollibee founder Tony Tan Caktiong ($3.4 billion), Andrew Tan ($2.5 billion), and San Miguel Corp. president Ramon S. Ang ($2.3 billion).
Forbes Philippines 50 Richest
Henry Sy $18B SM Investments Corp.
John Gokongwei $5.5B JG Summit Holdings
Enrique Razon Jr. $4.3B ICTSI
Lucio Tan $4.2B LT Group
Jaime Zobel de Ayala $3.7B Ayala Corp.
David Consunji $3.68B DMCI Holdings
George Ty $3.6B GT Capital Holdings
Tony Tan Caktiong $3.4B Jollibee
Andrew Tan $2.5B Allied Global Group
Ramon ang $2.3B San Miguel Corp.
Lucio and Susan Co. $1.8B Puregold Price Club
Manny Villar $1.65B Vista Land & Lifescapes
Inigo and Mercedes Zobel $1.6B Ayala Corp.
Robert Coyiuto Jr. $1.5B NGCP
Mercedes Gotianun $1.4B Filinvest
Roberto Ongpin $1.15B Alphaland
Eduardo Cojunagco $1.1B San Miguel
Dean Lao $1B D&L Industries
Ricardo Po Sr. $980M Century Pacific Foods
Betty Ang $880M Monde Nissin
Edgar Sia $820M Double Dragon Properties
Oscar LOpez $760M Lopez Holdings
Beatrice Campos $650M United Laboratories
Carlos Chan $620M Oishi
Alfredo Yao $600M Mackay Holdings
Frederick Dy $520M Security Bank
Jacinto Ng $420M Republic Biscuit Corp.
Jose & Robbie Antonio $400M Century Properties
Michael Cosiquien $385M Megawide Construction
Jorge Araneta $380M Araneta Group
Edgar Saavedra $375M Megawide Construction
Mariano Tan Jr. $370M United Laboratories
Jon & Mikel Aboitiz $350M Aboitiz Equity Ventures
Manuel Zamora $280M Nickel Asia
Wilfred Uytengsu $240M Alaska Milk
Vivian Que Azcona $230M Mercury Drug
Eric Recto $225M Bedfordbury Development
Jose Ma. Concepcion $$220M Concepcion Industrial
Bienvenido Tantoco Sr. $190M SSI Group
PJ Lhuillier $180M Cebuana Lhuillier
Felipe Gozon $170M GMA Network
Menardo Jimenez $165M GMA Network
Walter Brown $160M A. Brown Co.
Gilberto Duavit $155M GMA Network
Eusebio Tanco $150M STI Holdings
Juliette Romualdez $145M Banco de Oro
Michael Romero $135M GlobalPort 900
Erramon Aboitiz $130M Aboitiz Equity Ventures
Luis Virata $125M Nickel Asia
Philip Ang $120M Nickel Asia