According to Forbes Philippines’ 40 richest list of 2011, thirty-two tycoons are richer and for the fourth year in a row Henry Sy holds the top spot with a net worth of $7.2 billion, up from $5 billion last year. The biggest gainer in percentage terms is former trade minister Roberto Ongpin, whose fortune soared more than fourfold to $1.3 billion. Most of that gain was thanks to an increase in his stake in listed miner Atok-Big Wedge, though Ongpin says the company’s stock price overinflates its value.
The Philippines’ 40 Richest
| Rank | Name | Net Worth ($mil) | Age |
|---|---|---|---|
| 1 | Henry Sy | 7,200 | 86 |
| 2 | Lucio Tan | 2,800 | 77 |
| 3 | John Gokongwei Jr. | 2,400 | 83 |
| 4 | Andrew Tan | 2,000 | 58 |
| 5 | David Consunji | 1,900 | 90 |
| 6 | Jaime Zobel de Ayala | 1,700 | 77 |
| 7 | Enrique Razon Jr. | 1,600 | 51 |
| 8 | Eduardo Cojuangco Jr. | 1,400 | 76 |
| 9 | Roberto Ongpin | 1,300 | 74 |
| 10 | George Ty | 1,100 | 78 |
| 11 | Tony Tan Caktiong | 1,000 | 58 |
| 12 | Inigo & Mercedes Zobel | 980 | NA |
| 13 | Emilio Yap | 930 | 85 |
| 14 | Andrew Gotianun | 795 | 83 |
| 15 | Jon Ramon Aboitiz | 760 | 62 |
| 16 | Beatrice Campos | 685 | NA |
| 17 | Manuel Villar | 620 | 61 |
| 18 | Vivian Que Azcona | 555 | NA |
| 19 | Robert Coyiuto Jr. | 400 | 58 |
| 20 | Mariano Tan | 375 | NA |
| 21 | Alfonso Yuchengco | 370 | 88 |
| 22 | Enrique Aboitiz | 310 | 89 |
| 23 | Oscar Lopez | 280 | 81 |
| 24 | Jose Antonio | 245 | 64 |
| 25 | Eric Recto | 200 | 48 |
| 26 | Gilberto Duavit | 190 | 76 |
| 27 | Menardo Jimenez | 185 | 79 |
| 28 | Alfredo Ramos | 180 | 67 |
| 29 | Betty Ang | 165 | NA |
| 30 | Felipe Gozon | 163 | 71 |
| 31 | Tomas Alcantara | 160 | 65 |
| 32 | Benjamin Romualdez | 155 | 81 |
| 33 | Wilfred Uytengsu Jr. | 150 | 49 |
| 34 | Manuel Zamora Jr. | 145 | 71 |
| 35 | Jacinto Ng Sr. | 115 | NA |
| 36 | Frederick Dy | 110 | 56 |
| 37 | Luis Virata | 100 | 57 |
| 38 | Bienvenido Tantoco Sr. | 95 | 90 |
| 39 | Eugenio Lopez III | 90 | 59 |
| 40 | Edgar Sia II | 85 | 34 |
Among the four newcomers are 34-year-old Edgar Sia II, the youngest on the list, who sold his barbecue chain to Tony Tan Caktiong’s Jollibee Foods; Jose Antonio, founder of high-end property developer Century Properties; and Jacinto Ng Sr., founder of biscuit maker Rebisco. A minimum of $85 million was needed to make the list this year, up from last year’s $50 million.
Unfortunately, four from 2010 didn’t make on the list, including Lourdes Montinola, whose family owns 41% of Far Eastern University; and Jesus Tambunting, who controls Planters Development Bank.
Source: Suzy Nam – Forbes
Do you like this Forbes: The Philippines’ 40 Richest List 2011? content“> then please consider subscribing to our RSS feed. You can also subscribe by email and have new articles sent directly to your inbox. (Once you entered your e-mail address, you need to login to your e-mail account and click the link to confirm your subscription).
