Forbes magazine has just announced the list of the 50 richest people in the Philippines in 2022. The total wealth of the Top 50 is 72 billion USD, down from 79 billion USD last year. The Sy siblings continue to lead the list with a combined net worth of $12.6 billion.
1. Sy brothers
Net worth: $12.6 billion
Field: multidisciplinary
The six Sy siblings, including Teresita (pictured), Elizabeth, Henry Jr., Hans, Herbert and Harley, inherited the estate from their late father Henry Sy Sr. Most of their wealth comes from stakes in SM Investments and SM Prime. Currently, SM is one of the largest corporations in Southeast Asia, doing business in many different fields from department stores, supermarkets, banks, hotels to real estate and mining. (Photo: Forbes )
2. Manuel Villar
Net worth: 7.8 billion USD
Sector: real estate
Manuel Villar is the President of Vista Mall (formerly Starmalls), one of the largest shopping mall operators in the Philippines. He is also the head of Vista Land & Landscapes, the nation’s largest homebuilder. (Photo: Lamudi )
3. Enrique Razon, Jr.
Assets: $5.6 billion
Area: port
Enrique Razon, Jr. is the President of International Container Terminal Services (ICTSI), the largest port operator in the Philippines. The business has many subsidiaries in Eastern Europe, Africa and the Americas. In 1916, Razon’s grandfather began working at a port in Manila. After World War II, his father rebuilt the business, Razon was the one to follow and grow. (Photo: Bloomberg )
4. Lance Gokongwei and siblings
Assets: $3.1 billion
Field: multidisciplinary
The 6 Gokongwei siblings including Lance, Robina, Lisa, Faith, Hope and Marcia, inherited the fortune from founder John Gokongwei Jr. Most of their assets come from shares in JG Summit, a multi-industry corporation from aviation and telecommunications to banking and food… (Photo: JG Summit )
5. The Aboitiz . Family
Net worth: $2.9 billion
Field: multidisciplinary
Five generations of the Aboitiz family have made Aboitiz Equity Ventures (AEV) one of the leading conglomerates in the Philippines operating in a wide range of sectors such as energy, banking and financial services, food, infrastructure , land and data. (Photo: Bloomberg )
6. Isidro Consunji and siblings
Assets: $2.65 billion
Sector: construction and engineering
Siblings Isidro (pictured), Josefa, Jorge, Luz, Maria Cristina and Maria Edwina inherited the property from their late father David Consunji. Their wealth stems from DMCI Holdings, one of the largest real estate developers in the Philippines, founded by Mr. Consunji in 1954. (Photo: Jorem Catilo )
7. Tony Tan Caktiong & family
Assets: $2.6 billion
Sector: food
Tony Tan Caktiong is the Founder and President of Jollibee Foods, one of the world’s fastest growing Asian restaurant chains. The company currently operates more than 5,900 stores in the Philippines and many other countries around the world. In addition to the Jollibee and Highlands Coffee fried chicken brands, this business is also behind many other F&B chains such as Pho 24, Burger King, Coffee Bean & Tea Leaf, Tim Ho Wan… (Photo: Forbes )
8. Jaime Zobel de Ayala and family
Assets: 2.55 billion USD
Field: multidisciplinary
Jaime served as Chairman of Ayala Group until his retirement in 2006 and the position was taken over by his son, Jaime II. Currently, Jaime’s seven children hold more than a third of the shares of this corporation. Starting with a distillery in Manila, the Ayala family later expanded into banking, real estate, hotels, telecommunications and education. (Photo: Ayala )
9. Ramon Ang
Assets: $2.45 billion
Sector: food and beverage
Ramon Ang is the boss of San Miguel, one of the oldest corporations in the Philippines. Started as a brewer, San Miguel is now a leader in the food and beverage industry. (Photo: CNN Philippines )
10. Andrew Tan
Net worth: 2.4 billion USD
Field: multidisciplinary
Andrew Tan is the President of Alliance Global, a conglomerate with businesses in the food, beverage, gaming and real estate sectors. The son of a factory worker, Tan made his fortune developing large apartment complexes around Manila. (Photo: Alliance Global Group )
Source: CafeF