Thursday 26 April
Powered by Ajaxy
Mar 7, 2018 @ 11:34

Henry Sy is richest Filipino on the planet for 11th year – Forbes

 

SM Group patriarch Henry Sy is still the richest man in the Philippines for the 11th year in a row with a net worth of a little more than P1 trillion, based on the annual ranking of Forbes magazine.

With an increased net worth of $20 billion from $12.7 billion last year, Sy, who started his empire with a humble footwear business, ranked 52nd all over the world, a big jump from being 94th. His estimated net worth, which is up 57.4 percent from 2017, is slightly higher than American tech billionaire Elon Musk’s $19.9 billion.

His family leads SM Investments Corp., a retail, property development and banking conglomerate. The 93-year old SM Group founder created the country’s largest real estate firm by merging all his property-related businesses including residential property arm SM Development Corp. and flagship shopping mall unit SM Prime Holdings into a single publicly listed entity. He also has stakes in other retail companies, education, mining, and logistics.

Industrialist John Gokongwei of the JG Summit group which owns regional powerhouse Universal Robina Corp., budget carrier Cebu Pacific and Robinsons Land Corp. retained his spot at second place with a net worth of $5.8 billion and ranked 305th worldwide.

Third placer Enrique Razon, who heads International Container Terminal Services Inc. and integrated gaming resort Solaire Casino and Resort, saw his wealth rise 44 percent to $4.9 billion. He is the world’s 404th wealthiest man.

In fourth place is taipan Lucio Tan, who has interests in tobacco, banking, liquor, airline and real estate, with a net worth of $4.7 billion.

Jollibee Foods Corp. founder Tony Tan Caktiong ranked fifth with a net worth of $4 billion. He also holds a stake in fast-growing realty firm DoubleDragon Properties Corp. of Mang Inasal founder Edgar Injap Sia II.

GT Capital Holdings founder George SK Ty placed sixth with a net worth of $3.9 billion, which came largely from his banking, automotive manufacturing and real estate businesses.

Former Senator Manuel Villar came in seventh as his net worth surged 100 percent to $3 billion.

Megaworld’s Andrew Tan took the eighth slot with a net worth of $2.7 billion. He owns Megaworld Corp. and liquor firm Emperador. He also has a stake in fast food chain McDonald’s through Golden Arches Corp, a joint venture with business magnate George Yang.

San Miguel Corp. president RAmon S. Ang ranked ninth with a net worth of $2.5 billion, largely due to the public listing of his cement firm, Eagle Cement Corp.

Insurance and car dealership magnate Robert Coyiuto claimed the 10th slot with a net worth of $1.4 billion.

San Miguel Corp. chairman Eduardo ” Danding” Cojuangco clinched the 11th spot with Forbes valuing his worth at $1.3 billion.

Former trade minister Roberto V. Ongpin bagged 12th place with a net worth of $1.1 billion.

Name 2018 Rank 2017 Rank Change
1) Henry Sy $20B #52 $12.7B #94 up   57.4%
2) John Gokongwei $5.8 B #305 $5.8B #250 unchanged
3) Enrique K. Razon $4.9B #404 $3.4B #564 up  44%
4) Lucio Tan $4.7B #441 $3.4B #564 up   38%
5)  Tony Tan Caktiong $4B #550 $3.4B #565 up 18%
6) George Ty $3.9B #572 $3.5B #544 up  11.4%
7) Manny Villar $3B #791 $1.5B #1,376 up 100%
8) Andrew Tan $2.7B #887 $2.5B #814 up 8%
9) Ramon S. Ang $2.5B #965 $1.4B #1,468 up 78%
10) Robert Coyiuto $1.4B #1,650 $1.5 #1,376 down 7%
11) Eduardo Cojuangco Jr. $1.3B #1,756 $1.2B #1,678 up 8.3%
12) Roberto V. Ongpin $1.1B #1,999 $ 1.1B #1.795 unchanged

Tags: , , , , , , , , , , , , , , , , , , , , , , , ,

Related Stories
The Gokongwei family is bringing in an outsider to lead regional consumer powerhouse Universal Robina
Universal Robina Corp. (URC), the food manufacturing arm of taipan John Gokongwei, has laid out
This bank executive is a line wolf for this grand scam.
They won’t be paying any monetary fine, but these penalties are just as chilling.


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.