Bilyonaryo Iñigo Zobel dropped out of the elite 10-digit club as his net worth failed to make the billion-dollar cut.
Only 17 Filipinos (including seven groups) had fortunes worth $1 billion or more in Forbes 2020 ranking of the 50 richest Filipinos.
Forbes pegged Iñigo’s net worth at $990 million this year at 18th place on 2020 the list.
In 2019, Iñigo ranked No. 11 with $2.5 billion in net worth when Forbes combined his assets with sister, Mercedes.
The 63-year old polo player directly owns 60 percent of Top Frontier Investment Holdings Inc. which controls San Miguel Corp. with 66 percent share. He and his sister also have a stake in Ayala Corp.
Forbes did not explain why Mercedes, a devoted philanthropist who serves as director of the London-based Women for Women International which provides aid in conflict zones, was dropped from the 2020 list.
In 2019, Century Properties’ Jose Antonio saw his ranking slide No.25 to No. 38 after Forbes listed his assets individually without his son, Robbie.
Mercedes, on the other hand, is a devoted philanthropist who serves as Director of the London-based Women for Women International that provides aid in conflict zones.
Iñigo and Mercedes are the children of the late Enrique Zobel de Ayala, who was the favorite nephew of Doña Mercedes Zobel McMicking, who laid the foundation for the Zobel de Ayala family’s massive growth in the post-EDSA Revolution years.