INQUIRER.net
10:51 am | Thursday, August 1st, 2013
Henry Sy INQUIRER FILE PHOTO
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.
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/ philippines-billionaires/
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
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Tags: Business , Forbes Magazine , Henry Sy , Philippines , wealth
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