Retail tycoon Henry Sy once again topped the Forbes list of billionaires for the Philippines, after registering a wealth of $18.2 billion in the magazine’s recent cycle.
The chairman emeritus of SM Investments was named yet again the richest man alive in the country. Although his net worth went down by 1.9 percent, or $361 million, the 93-year-old Sy still managed to top the list.
Far second was real-estate mogul and former lawmaker Manuel Villar, who saw his net worth climb by 0.2 percent, or $9 million, to $4.9 billion. The chairman of mall outlet brand Starmall and homebuilder Vista and Landscapes was the only billionaire among the top 10 who had his wealth increase over the past year.
Trailing Villar was businessman John Gokongwei Jr. The founder of JG Summit—a conglomerate in the business of air transportation, telecommunications, banking, food, power and property—registered a net worth of $4.4 billion, down by 4.3 percent, or $201 million.
Enrique Razon Jr., chairman of International Container Terminal Services, was the fourth-richest Filipino with a net worth of $3.9 billion. Lucio Tan, founder and chairman of tobacco, spirits, banking and property development firm LT Group, was fifth with a wealth of $3.7 billion.
Rounding up the top 10 were Tony Tan Caktiong of Jollibee Food Corp. ($3.7 billion); Ramon Ang of San Miguel Corp. ($2.9 billion); George Ty of GT Capital Holdings ($2.7 billion); Andrew Tan of Alliance Global ($2.6 billion); and Lucio and Susan Co of Puregold Price Club ($1.6 billion).
All the top 10 registered lower wealth than in the last Forbes cycle, except Villar. The annual ranking documents the net worth of the world’s wealthiest men.