Business

Gokongwei siblings, Gretchen Cojuangco make their debut on Forbes billionaires list

The six children of the late industrialist John Gokongwei as well as the wife of San Miguel Corp.’s Eduardo “Danding” Cojuangco have entered the billionaires’ club for the first time.

According to the 2020 Forbes Philippines Rich List, Gokongwei siblings Lance, Robina, Faith, Hope, Lisa, and Marcia shot to the fourth spot making their debut with a combined net worth of $4.1 billion.

The death of their parents John and Elizabeth in November 2019 saw the transfer of the family’s massive wealth, comprising largely of stakes in their listed holding firm JG Summit Holdings Inc., Universal Robina Corp., Robinsons Land Corp. and Cebu Pacific.

Another notable newcomer, Soledad “Gretchen” Oppen-Cojuangco who inherited her husband’s estate, landed at no. 16 on the list with a net worth of $.1.15 billion.

She shares the fortune with their four children Mark, Carlos, Luisa and Margarita.

Danding, the former chairman and CEO of diversified conglomerate San Miguel Corp., passed away last June.

Philippines’ wealthiest saw their fortunes plummet to $60.6 billion from $78 billion amid the coronavirus pandemic.

The Sys took the biggest blow with their net worths shrinking by $3.3 billion to $13.9 billion.

They, however, remain the country’s wealthiest followed by real estate magnate and former senator Manny Villar and ports and gaming ($5 billion) and ports tycoon Enrique Razon Jr. ($4.3 billion).

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.