Business

Comeback kid! Injap Sia returns to Forbes’ billionaires’ list as MerryMart surges over 6X IPO price

After a three-year absence, bilyonaryo Injap Sia has roared back into the highly-exclusive circle of the richest people on the planet.

The 43-year old entrepreneur has a net worth of $1 billion ranked 2,262 of 2,304 billionaires in the world as rated by Forbes. There are only 14 other Filipinos on the billionaires list.

The only time Sia was on Forbes’ list of richest Filipinos was in 2017. In that year, Sia was listed as the 17th richest Filipino.

Sia’s Merry Mart, which was sold at P1 per share in an initial public offering in June, hit a record-high of P6.70 on November 24.

Sia owns 79 percent of Merry Mart which has a current market cap of P44 billion. Sia also owns 35 percent of DoubleDragon which has a paper value of P35.41 billion.

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