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MANILA, Philippines – The richest man in the Philippines, Henry Sy, continues to dominate over the business landscape of the country as he retains the top spot in the Forbes Philippines rich list for the sixth year in a row.
“Topping the list for the sixth straight year is Henry Sy. His net worth increased by $2.9 billion to $12 billion, as shares of his company SM Investments reported record profits of over $570 million in 2012,” Forbes said in a statement.
Lucio Tan is at second with an estimated $7.5billion and “is this year’s biggest gainer in dollar terms after his net worth jumped to $7.5 billion, up by $3 billion from $4.5 billion in 2012,” Forbes said.
Henry Sy INQUIRER FILE PHOTO
Andrew Tan has moved up to third place from sixth in the previous year with $4.6 billion, which was double his wealth in 2012, it said.
Enrique Razon Jr. came it at fourth with $4.5 billion and John Gokongwei Jr. at fifth with $3.4 billion.
“The Philippines’ richest also benefited from a buoyant stock market, which is up 28% in the past year,” Forbes said.
The Philippines has two new billionaires, former senator Manuel Villar, who is at number 16, with an estimated wealth of $1.05 billion and the Aboitiz Family which ranks seventh with $3 billion after the entire clan consolidated their wealth.
“The combined net worth of the Philippines’ 50 richest totaled $65.8 billion, more than a quarter of the nation’s Gross Domestic Product,” Forbes said.
“This list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts and other sources,” it said.
The full list according to the Forbes Philippines Richest List that can be found in http://www.forbes.com/
1) Henry Sy; US$12 billion
2) Lucio Tan; $7.5 billion
3) Andrew Tan; $4.6 billion
4) Enrique Razon Jr.; $4.5 billion
5) John Gokongwei Jr.; $3.4 billion
6) Jaime Zobel de Ayala; $3.1 billion
7) Aboitiz Family; $3 billion
8) David Consunji; $2.7 billion
9) George Ty; $2.6 billion
10) Lucio & Susan Co; $1.9 billion
11) Tony Tan Caktiong & Family; $1.7 billion
12) Robert Coyiuto Jr; $1.5 billion
13) Emilio Yap; $1.35 billion
14) Roberto Ongpin; $1.3 billion
15) Inigo & Mercedes Zobel; $1.2 billion
16) Manuel Villar; $1.05 billion
17) Andrew Gotianun; $1 billion
18) Beatrice Campos & family; $900 million
19) Vivian Que Azcona & family; $840 million
20) Eduardo Cojuangco; $825 million
21) Alfonso Yuchengco & family; $705 million
22) Oscar Lopez & family; $675 million
23) Betty Ang; $600 million
24) Jorge Araneta; $505 million
25) Carlos Chan; $500 million
26) Michael Romero; $490 million
27) Eric Recto; $485 million
28) Mariano Tan Jr.; $435 million
29) Frederick Dy; $290 million
30) Walter Brown; $270 million
31) Ramon Ang; $260 million
32) Jose Antonio; $255 million
33) Wilfred Steven Uytengsu Jr. & family; $250 million
34) Manuel Zamora; $240 million
35) Jacinto Ng; $230 million
36) Alfredo Ramos & family; $225 million
37) Gilberto Duavit & family; $224 million
38) Menardo Jimenez; $223 million
39) Edgar Sia; $210 million
40) Bienvenido Tantoco Sr. & family; $205 million
41) Felipe Gozon & family; $200 million
42) Alfredo Yao; $180 million
43) Michael Cosiquien; $175 million
44) Edgar Saavedra; $170 million
45) Juliet Romualdze; $165 million
46) Tomas Alcantara & family; $160 million
47) Lourdes Montinola & family; $155 million
48) Luis Virata; $120 million
49) Philip Ang; $115 million
50) Manuel V. Pangilinan; $105 million
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