MANILA - Shopping mall magnate Henry Sy has again topped Forbes.com's list of the 40 richest Filipinos.
According to Forbes.com, the 87-year old Sy and his family has a net worth of $9.1 billion, or about P385 billion.
He owns SM Investments, a conglomerate that runs 43 malls in the country and five in China, the Philippines' biggest bank, BDO, and the country's fastest-growing condominium developer, SMDC.
His son, Henry Jr., has a joint venture with State Grid Corp. of China that holds the 25-year concession for the Philippines' power transmission highway.
Second on Forbes' list is tobacco tycoon Lucio Tan and family, who was estimated to have a net worth of $4.5 billion, or about P190 billion.
Besides controlling the Philippines' tobacco monopoly in a partnership with multinational Philip Morris, 77-year old Tan also is part owner of Asia's oldest carrier, Philippine Airlines, a substantial interest in which he sold to long-time beverage rival, San Miguel Corp.
Third on Forbes' list is port operator Enrique Razon Jr., who was credited with a net worth of $3.6 billion, or about P152 billion.
Apart from International Container Terminal Services Inc., the 52-year old Razon also has interests in mineral exploration and recently has ventured into the tourism space with his gaming firm, Bloomberry.
Fourth on Forbes' list is John Gokongwei Jr., who has an estimated net worth of $3.2 billion, or about P135 billion.
The 84-year old businessman's empire includes the Philippines' fastest-growing budget carrier, Cebu Pacific, food manufacturer Universal Robina, and property firm Robinsons Land.
Fifth on Forbes' list is 90-year old construction magnate David Consunji and family, who are worth of $2.7 billion, or about P114 billion, Forbes.com said.
Other businessmen on the Forbes list in order of their net worth are the following:
- Andrew Tan, $2.3 billion;
- Jaime Zobel de Ayala and family, $2.2 billion;
- George Ty and family, $1.7 billion;
- Roberto Ongpin, $1.5 billion;
- Eduardo Cojuangco, $1.4 billion;
Senator Manuel Villar is also on the list, coming in 18th with a net worth of $720 million.
Among world's top billionaires
Sy and family also ranked 116th in Forbes' list of the world's billionaires, which 72-year-old Mexican telecoms owner Carlos Slim topped, with a net worth of $69 billion.
Microsoft chairman Bill Gates, 56, came in second with $61 billion, and Berkshire Hathaway chief executive and investing legend Warren Buffett, 81, was in third place with $44 billion.
article source: interaksyon.com
