RANK 1 (1) Henry Sy
Net Worth: $5 Billion
Age: 85
Stock price of his SM Investments has almost doubled. Group, with interests in malls, retail, and property. Daughter Teresita Sy-Coson runs its Banco de Oro Unibank, country's largest bank by assets, which signed deal in May to acquire GE Capital's Philippines banking arm in exchange for strategic investment from the U.S. company; deal expected to close this month. Sy, who got start selling shoes, shares fortune with wife and children.
Net Worth: $5 Billion
Age: 85
Stock price of his SM Investments has almost doubled. Group, with interests in malls, retail, and property. Daughter Teresita Sy-Coson runs its Banco de Oro Unibank, country's largest bank by assets, which signed deal in May to acquire GE Capital's Philippines banking arm in exchange for strategic investment from the U.S. company; deal expected to close this month. Sy, who got start selling shoes, shares fortune with wife and children.
RANK 2 (2) Lucio Tan
Net Worth: $2.1 Billion
Age: 76
Former electrical engineer's other holdings include Fortune Tobacco, Asia Brewery, Philippine Airlines and Hong Kong properties. Government case against Tan for allegedly holding assets for the late Ferdinand Marcos has dragged on for 22 years. Some of his fortune still sequestered as part of the long-running investigation.
Net Worth: $2.1 Billion
Age: 76
Former electrical engineer's other holdings include Fortune Tobacco, Asia Brewery, Philippine Airlines and Hong Kong properties. Government case against Tan for allegedly holding assets for the late Ferdinand Marcos has dragged on for 22 years. Some of his fortune still sequestered as part of the long-running investigation.
RANK 3 (5) John Gokongwei Jr.
Net Worth: $1.5 Billion
Age: 83
Shares of his conglomerate JG Summit, which he founded, has interests in airlines, telecoms, power, banking and real estate. Also owns Robinsons retail department store operations, with stores in 7 countries. Brother James Go chairs the group and son Lance is president.
Net Worth: $1.5 Billion
Age: 83
Shares of his conglomerate JG Summit, which he founded, has interests in airlines, telecoms, power, banking and real estate. Also owns Robinsons retail department store operations, with stores in 7 countries. Brother James Go chairs the group and son Lance is president.
RANK 4 (3) Jaime Zobel de Ayala
Net Worth: $1.4 Billion
Age: 76
Chairman emeritus of family's Ayala Corporation, one of the country's largest conglomerates, which celebrated its 175th birthday this year. Eldest son, Jaime II, replaced his dad as chairman more than a decade ago; son Ferdinando is vice-chairman. Family's shares now in his children's hands. A photographer, had his first public exhibition in Cebu in March.
Net Worth: $1.4 Billion
Age: 76
Chairman emeritus of family's Ayala Corporation, one of the country's largest conglomerates, which celebrated its 175th birthday this year. Eldest son, Jaime II, replaced his dad as chairman more than a decade ago; son Ferdinando is vice-chairman. Family's shares now in his children's hands. A photographer, had his first public exhibition in Cebu in March.
RANK 5 (4) Andrew Tan
Net Worth: $1.2 Billion
Age: 58
His holding company, Alliance Global Group, reported jump in first-quarter earnings thanks in part to strong food, beverage businesses (he owns nation's McDonald's franchise) and improving real estate sales. Resort World Manila, his $1.35 billion casino joint venture with Malaysia's Star Cruises. Son of a factory worker made his first fortune in brandy, and later in property development through MEGAWORLD.
Net Worth: $1.2 Billion
Age: 58
His holding company, Alliance Global Group, reported jump in first-quarter earnings thanks in part to strong food, beverage businesses (he owns nation's McDonald's franchise) and improving real estate sales. Resort World Manila, his $1.35 billion casino joint venture with Malaysia's Star Cruises. Son of a factory worker made his first fortune in brandy, and later in property development through MEGAWORLD.
RANK 6 (6) Tony Tan Caktiong
Net Worth: $980 Million
Age: 60
His fast-food company JOLLIBEE Foods is expanding: it already has 1,800 locations, 9 brands in 11 countries, including popular burger joint Jollibee; plans to open another 200 this year in such countries as China, Vietnam and the U.S. Completed purchase of a congee restaurant chain in China. Got his start 34 years ago when he opened 2 ice cream parlors.
Net Worth: $980 Million
Age: 60
His fast-food company JOLLIBEE Foods is expanding: it already has 1,800 locations, 9 brands in 11 countries, including popular burger joint Jollibee; plans to open another 200 this year in such countries as China, Vietnam and the U.S. Completed purchase of a congee restaurant chain in China. Got his start 34 years ago when he opened 2 ice cream parlors.
RANK 7 (8) Enrique Razon Jr.
Net Worth: $975 Million
Age: 50
Was part of consortium, which also included China's State Grid and Robert Coyiuto, that paid $3.95 billion for National Grid Corp. of the Philippines. Runs port operator International Container Terminal Services, with operations in 10 countries.
Net Worth: $975 Million
Age: 50
Was part of consortium, which also included China's State Grid and Robert Coyiuto, that paid $3.95 billion for National Grid Corp. of the Philippines. Runs port operator International Container Terminal Services, with operations in 10 countries.
RANK 8 (13) Beatrice Campos
Net Worth: $840 Million
Age:
Bulk of fortune comes from family's interest in drug firm UNILAB, founded by her late husband. Family also has stake in Del Monte Pacific; son Joselito runs company, which signed joint venture with Bharti Group in the spring to make, sell Del Monte products in India.
Net Worth: $840 Million
Age:
Bulk of fortune comes from family's interest in drug firm UNILAB, founded by her late husband. Family also has stake in Del Monte Pacific; son Joselito runs company, which signed joint venture with Bharti Group in the spring to make, sell Del Monte products in India.
RANK 9 (10) George Ty
Net Worth: $805 Million
Age: 77
His Metrobank, the country's second-largest lender, saw profits rise in first quarter for first time in a year. Founded bank decades ago. His son Arthur replaced him as chairman 2006. Family, which includes Ty and his children, hold 40% of the bank.
Net Worth: $805 Million
Age: 77
His Metrobank, the country's second-largest lender, saw profits rise in first quarter for first time in a year. Founded bank decades ago. His son Arthur replaced him as chairman 2006. Family, which includes Ty and his children, hold 40% of the bank.
RANK 10 (7) Danding Cojuangco
Net Worth: $760 Million
Age: 75
Chief executive of Southeast Asia's largest food and beverage conglomerate, San Miguel. Company has been buying up stakes in a power company, oil refiner and bank; has shown interest in buying DOLE Food's Asian assets. In July announced it is negotiating with potential investors to sell part of branded food, alcohol operations.
Net Worth: $760 Million
Age: 75
Chief executive of Southeast Asia's largest food and beverage conglomerate, San Miguel. Company has been buying up stakes in a power company, oil refiner and bank; has shown interest in buying DOLE Food's Asian assets. In July announced it is negotiating with potential investors to sell part of branded food, alcohol operations.
RANK 11 (12) Inigo and Mercedes Zobel
Net Worth: $730 Million
Age:
Cousins of Jaime Zobel de Ayala inherited stakes in conglomerate Ayala Corp. Inigo sits on boards of San Miguel Corp., family's Mermac. A fund he runs recently invested in Meralco.
Net Worth: $730 Million
Age:
Cousins of Jaime Zobel de Ayala inherited stakes in conglomerate Ayala Corp. Inigo sits on boards of San Miguel Corp., family's Mermac. A fund he runs recently invested in Meralco.
RANK 12 (17) David Consunji
Net Worth: $715 Million
Age: 89
Started out as a concrete inspector and founded construction company DMCI in 1954. Group has since expanded into infrastructure, real estate. Shares of his DMCI Holdings have soared lately, thanks to strong condo sales and surge in water business. Shares fortune with children including son Isidro who is DMCI's president.
Net Worth: $715 Million
Age: 89
Started out as a concrete inspector and founded construction company DMCI in 1954. Group has since expanded into infrastructure, real estate. Shares of his DMCI Holdings have soared lately, thanks to strong condo sales and surge in water business. Shares fortune with children including son Isidro who is DMCI's president.
RANK 13 (11) Emilio T. Yap
Net Worth: $665 Million
Age: 84
Renovating his landmark Manila Hotel. Biggest source of wealth is family's holding in Philtrust Bank and Manila Bulletin. Shares fortune with children and grandchildren.
Net Worth: $665 Million
Age: 84
Renovating his landmark Manila Hotel. Biggest source of wealth is family's holding in Philtrust Bank and Manila Bulletin. Shares fortune with children and grandchildren.
RANK 14 (16) Andrew Gotianun
Net Worth: $500 Million
Age: 82
Chairman emeritus of conglomerate Fil-Invest Development, started in 1955. Main subsidiaries are real estate firms, privately held Filinvest Alabang and publicly traded Filinvest Land. Fortune up thanks to inclusion of shares owned by his children including Jonathan and Josephine, who run daily operations.
Net Worth: $500 Million
Age: 82
Chairman emeritus of conglomerate Fil-Invest Development, started in 1955. Main subsidiaries are real estate firms, privately held Filinvest Alabang and publicly traded Filinvest Land. Fortune up thanks to inclusion of shares owned by his children including Jonathan and Josephine, who run daily operations.
RANK 15 (14) Vivian Que Azcona
Net Worth: $445 Million
Age:
Owns stake in drug retailer Mercury Drug, founded by her late father. Shares fortune with other relatives.
Net Worth: $445 Million
Age:
Owns stake in drug retailer Mercury Drug, founded by her late father. Shares fortune with other relatives.
RANK 16 (15) Oscar Lopez
Net Worth: $420 Million
Age: 80
Chairs Lopez Group, family holding company with stakes in ABS-CBN Broadcasting and in diversified Benpres Holdings. Shares fortune with sister Presentacion and brother Manuel, head of Meralco, in which family has indirect stake that it is reportedly looking to unload. Son Federico runs group's power division. Philanthropist is chairman of the Philippine Center for Population and Development and board member of Ophthalmological Foundation of the Philippines.
Net Worth: $420 Million
Age: 80
Chairs Lopez Group, family holding company with stakes in ABS-CBN Broadcasting and in diversified Benpres Holdings. Shares fortune with sister Presentacion and brother Manuel, head of Meralco, in which family has indirect stake that it is reportedly looking to unload. Son Federico runs group's power division. Philanthropist is chairman of the Philippine Center for Population and Development and board member of Ophthalmological Foundation of the Philippines.
RANK 17 (9) Manny Villar
Net Worth: $380 Million
Age: 60
He is also the largest shareholder in property firms Vista Land & Lifescapes and Polar Property Holdings. Both sons are on board of Vista Land, whose stock hit 52-week high in August. Shrimp vendor's son grew up in slum.
Net Worth: $380 Million
Age: 60
He is also the largest shareholder in property firms Vista Land & Lifescapes and Polar Property Holdings. Both sons are on board of Vista Land, whose stock hit 52-week high in August. Shrimp vendor's son grew up in slum.
RANK 18 (24) Jon Ramon Aboitiz
Net Worth: $360 Million
Age: 61
Replaced brother, Roberto, as chairman of family's Aboitiz Equity Ventures; its net profits up 55% for first half of year. Power subsidiary just announced purchase of 2 generation plants in Mindanao. Brother Mikel, who shares fortune with his brothers, is president of City Savings Bank. Assets of uncle Enrique are listed separately.
Net Worth: $360 Million
Age: 61
Replaced brother, Roberto, as chairman of family's Aboitiz Equity Ventures; its net profits up 55% for first half of year. Power subsidiary just announced purchase of 2 generation plants in Mindanao. Brother Mikel, who shares fortune with his brothers, is president of City Savings Bank. Assets of uncle Enrique are listed separately.
RANK 19 (20) Mariano Tan
Net Worth: $330 Million
Age:
Co-Founder of drug company UNILAB, also has stake in real estate firm Greenfield Development.
Net Worth: $330 Million
Age:
Co-Founder of drug company UNILAB, also has stake in real estate firm Greenfield Development.
RANK 20 (18) Robert Coyuito Jr.
Net Worth: $310 Million
Age: 57
Philippine Stock Exchange board member is president of Oriental Petroleum & Minerals; also has interests in car dealerships, insurance. Investor in National Grid along with Enrique Razon and China's State Grid.
Net Worth: $310 Million
Age: 57
Philippine Stock Exchange board member is president of Oriental Petroleum & Minerals; also has interests in car dealerships, insurance. Investor in National Grid along with Enrique Razon and China's State Grid.
RANK 21 (NEW) Roberto Ongpin
Net Worth: $300 million
Age:
Net Worth: $300 million
Age:
RANK 22 (19) Alfonso Yuchengco
Net Worth: $260 Million
Age: 87
His Yuchengco Group of Companies has interests in 60 businesses including RCBC and PLDT. Former Ambassador to China, Japan, received a humanitarian award from The University of Alabama.
Net Worth: $260 Million
Age: 87
His Yuchengco Group of Companies has interests in 60 businesses including RCBC and PLDT. Former Ambassador to China, Japan, received a humanitarian award from The University of Alabama.
RANK 23 (25) Betty Ang
Net Worth: $165 Million
Age:
President of privately owned Monde Nissin, nation's top noodle and biscuit maker, known for its the popular Lucky Me! brand of instant noodles. Reportedly divides her time between Philippines, Singapore and Indonesia, where her husband is president of Khong Guan Indonesia, a biscuit maker. He is also a shareholder in Monde Nissin, though his shares are not reflected in her fortune.
Net Worth: $165 Million
Age:
President of privately owned Monde Nissin, nation's top noodle and biscuit maker, known for its the popular Lucky Me! brand of instant noodles. Reportedly divides her time between Philippines, Singapore and Indonesia, where her husband is president of Khong Guan Indonesia, a biscuit maker. He is also a shareholder in Monde Nissin, though his shares are not reflected in her fortune.
RANK 24 (35) Enrique Aboitiz
Net Worth: $150 Million
Age: 88
Patriarch of family's Aboitiz &Co, with interests in banking, food, transport, power generation. Son Enrique Jr, runs its public transport arm, Aboitiz Transport System, which celebrated its 100th anniversary this year. Nephew Jon Ramon chairs Aboitiz Equity Ventures, the group's listed holding company.
Net Worth: $150 Million
Age: 88
Patriarch of family's Aboitiz &Co, with interests in banking, food, transport, power generation. Son Enrique Jr, runs its public transport arm, Aboitiz Transport System, which celebrated its 100th anniversary this year. Nephew Jon Ramon chairs Aboitiz Equity Ventures, the group's listed holding company.
RANK 25 (22) Gilberto Duavit
Net Worth: $145 Million
Age: 75
A former Congressman, he and two partners (Felipe Gozon and Menardo Jimenez, both of whom are also ranked among Philippines' 40 Richest) took control of broadcaster GMA Network, founded by an American war correspondent, in 1970. Remains a large shareholder of GMA. Three of his children are executives at the media outfit including Gilberto Jr., the group's chief operating officer.
Net Worth: $145 Million
Age: 75
A former Congressman, he and two partners (Felipe Gozon and Menardo Jimenez, both of whom are also ranked among Philippines' 40 Richest) took control of broadcaster GMA Network, founded by an American war correspondent, in 1970. Remains a large shareholder of GMA. Three of his children are executives at the media outfit including Gilberto Jr., the group's chief operating officer.
RANK 26 (21) Menardo Jimenez
Net Worth: $143 Million
Age: 78
With brother-in-law Felipe Gozon and Gilberto Duavit took control of broadcaster GMA Network, founded by an American war correspondent, in 1970. Remains a large shareholder; a son is a director.
Net Worth: $143 Million
Age: 78
With brother-in-law Felipe Gozon and Gilberto Duavit took control of broadcaster GMA Network, founded by an American war correspondent, in 1970. Remains a large shareholder; a son is a director.
RANK 27 (23) Felipe Gozon
Net Worth: $120 Million
Age: 70
Chairman, chief executive of radio, TV broadcaster GMA network, which is now available in dozens of countries including 49 in Europe, 16 in the Middle East and 11 in North Africa. With Gilberto M. Duavit and brother-in-law Menardo Jimenez , took control of GMA, founded by an American war correspondent, in 1970. Remains a large shareholder.
Net Worth: $120 Million
Age: 70
Chairman, chief executive of radio, TV broadcaster GMA network, which is now available in dozens of countries including 49 in Europe, 16 in the Middle East and 11 in North Africa. With Gilberto M. Duavit and brother-in-law Menardo Jimenez , took control of GMA, founded by an American war correspondent, in 1970. Remains a large shareholder.
RANK 28 (26) Alfredo Ramos
Net Worth: $117 Million
Age: 66
Chairman of family-controlled Anglo Philippine Holdings Corp. and Atlas Consolidated Mining and Development Corp., which has investments in oil, mining, property development and infrastructure. Government is buying Anglo's shares of Metro Railway Transit. Also owns and runs National Bookstore chain with his twin siblings, Benjamin and Cecilia.
Net Worth: $117 Million
Age: 66
Chairman of family-controlled Anglo Philippine Holdings Corp. and Atlas Consolidated Mining and Development Corp., which has investments in oil, mining, property development and infrastructure. Government is buying Anglo's shares of Metro Railway Transit. Also owns and runs National Bookstore chain with his twin siblings, Benjamin and Cecilia.
RANK 29 (27) Manuel Zamora
Net Worth: $116 Million
Age: 70
Lawyer founded and runs mining outfit Nickel Asia. Group is now partnering with Japan's Sumitomo Metal Mining to invest reported $3 billion in a processing plant in NorthEastern Mindanao. Sumitomo is apparently also buying stake in Nickel Asia. Board member of St.Luke's Medical Center. Fortune now includes stake held by brother Salvador.
Net Worth: $116 Million
Age: 70
Lawyer founded and runs mining outfit Nickel Asia. Group is now partnering with Japan's Sumitomo Metal Mining to invest reported $3 billion in a processing plant in NorthEastern Mindanao. Sumitomo is apparently also buying stake in Nickel Asia. Board member of St.Luke's Medical Center. Fortune now includes stake held by brother Salvador.
RANK 30 (NEW) Wilfred Uytengsu Jr.
Net Worth: $115 Million
Age:
A former swim captain at the University of Southern California, is chief executive of ALASKA Milk one of the country's largest dairy companies.
Net Worth: $115 Million
Age:
A former swim captain at the University of Southern California, is chief executive of ALASKA Milk one of the country's largest dairy companies.
RANK 31 (30) Benjamin Romualdez
Net Worth: $110 Million
Age: 80
Younger brother of Imelda Marcos and former U.S. Ambassador was cleared of graft charges in MAY relating to that post. His stakes in Banco De Oro Unibank and mining firm Benguet, run by son Benjamin, were sequestered by the government during a separate investigation and have not yet been released.
Net Worth: $110 Million
Age: 80
Younger brother of Imelda Marcos and former U.S. Ambassador was cleared of graft charges in MAY relating to that post. His stakes in Banco De Oro Unibank and mining firm Benguet, run by son Benjamin, were sequestered by the government during a separate investigation and have not yet been released.
RANK 32 (NEW) Wilfred King
Net Worth: $100 Million
Age:
Net Worth: $100 Million
Age:
RANK 33 (29) Tomas Alcantara
Net Worth: $99 Million
Age: 64
Columbia University business school grad runs Alcantara Group with interests in mining, power, property; planning to build coal-fired power plant in Saranggani where brother Alejandro runs the agriculture business and nephew Miguel is governor. Another brother Nicasio was replaced by Ramon Ang, COO of San Miguel, as chairman of national oil firm, Petron in January 2008. Sister Editha is president of C. Alcantara & Sons. Shares fortune with 5 siblings.
Net Worth: $99 Million
Age: 64
Columbia University business school grad runs Alcantara Group with interests in mining, power, property; planning to build coal-fired power plant in Saranggani where brother Alejandro runs the agriculture business and nephew Miguel is governor. Another brother Nicasio was replaced by Ramon Ang, COO of San Miguel, as chairman of national oil firm, Petron in January 2008. Sister Editha is president of C. Alcantara & Sons. Shares fortune with 5 siblings.
RANK 34 (28) Bienvenido Tantoco Sr.
Net Worth: $95 Million
Age: 89
Family owns RUSTAN's, country's luxury department store and supermarket chain run by daughter Zenaida. Has franchise rights to Marks & Spencer, Starbucks Coffee.
Net Worth: $95 Million
Age: 89
Family owns RUSTAN's, country's luxury department store and supermarket chain run by daughter Zenaida. Has franchise rights to Marks & Spencer, Starbucks Coffee.
RANK 35 (38) Frederick Dy
Net Worth: $70 Million
Age: 55
Shares of Security Bank, which he chairs, have nearly doubled from January lows. Industrial engineer became bank's chairman in 1991. Vice chairman of St.Luke's Medical Center.
Net Worth: $70 Million
Age: 55
Shares of Security Bank, which he chairs, have nearly doubled from January lows. Industrial engineer became bank's chairman in 1991. Vice chairman of St.Luke's Medical Center.
RANK 36 (34) Eugenio Lopez III
Net Worth: $68 Million
Age: 58
Head of nation's largest media group, ABS-CBN Broadcasting, which bought majority of pay TV operator SkyCable, last year. Stock price has more than doubled since December low. "Gabby" is also treasurer at Benpres, which uncle Oscar heads. His grandfather Eugenio, El Kapitan, was known as a founder of Philippine business. His father, the late Eugenio "Geny" Lopez Junior, spent five years in prison for denouncing Marcos' corrupted regime before escaping in 1977. Last year, the Supreme Court affirmed a previous ruling junking Lopez clan bid to seek criminal prosecution of cronies of former President Ferdinand E. Marcos who took over ABS-CBN during the martial law years.
Net Worth: $68 Million
Age: 58
Head of nation's largest media group, ABS-CBN Broadcasting, which bought majority of pay TV operator SkyCable, last year. Stock price has more than doubled since December low. "Gabby" is also treasurer at Benpres, which uncle Oscar heads. His grandfather Eugenio, El Kapitan, was known as a founder of Philippine business. His father, the late Eugenio "Geny" Lopez Junior, spent five years in prison for denouncing Marcos' corrupted regime before escaping in 1977. Last year, the Supreme Court affirmed a previous ruling junking Lopez clan bid to seek criminal prosecution of cronies of former President Ferdinand E. Marcos who took over ABS-CBN during the martial law years.
RANK 37 (32) Lourdes Montinola
Net Worth: $65 Million
Age: 82
Chair of FEU, founded by her father Nicanor Reyes. She is also a co-author of 1998 account of the Battle of Manila in "Breaking The Silence". Son Aurelio, chief executive of the Bank of Philippines Islands, and daughter Gianna, a lawyer, are both university trustees and shareholders of FEU, whose stock is down 40% in the past year.
Net Worth: $65 Million
Age: 82
Chair of FEU, founded by her father Nicanor Reyes. She is also a co-author of 1998 account of the Battle of Manila in "Breaking The Silence". Son Aurelio, chief executive of the Bank of Philippines Islands, and daughter Gianna, a lawyer, are both university trustees and shareholders of FEU, whose stock is down 40% in the past year.
RANK 38 (33) Luis Virata
Net Worth: $57 Million
Age: 56
Fortune is down due to the discovery of a lower stake in Nickel Asia than previously estimated coupled with falling profits; main company's profits were down 80% last year.
Net Worth: $57 Million
Age: 56
Fortune is down due to the discovery of a lower stake in Nickel Asia than previously estimated coupled with falling profits; main company's profits were down 80% last year.
RANK 39 (37) Jesus Tambunting
Net Worth: $55 Million
Age: 73
Former Ambassador to Britain runs Planters Development Bank, country's largest lender to small and medium-size businesses.
Net Worth: $55 Million
Age: 73
Former Ambassador to Britain runs Planters Development Bank, country's largest lender to small and medium-size businesses.
RANK 40 (36) Philip Ang
Net Worth: $50 Million
Age: 69
Shareholder of mining outfit Nickel Asia. Company is partnering with Japan's Sumitomo Metal Mining to invest a reported $3 billion in a processing plant in northeastern Mindanao. Sumitomo is also apparently buying a stake in the mining firm.
SOURCE: Suzanne Nam (Forbes.com/Asia)
Net Worth: $50 Million
Age: 69
Shareholder of mining outfit Nickel Asia. Company is partnering with Japan's Sumitomo Metal Mining to invest a reported $3 billion in a processing plant in northeastern Mindanao. Sumitomo is also apparently buying a stake in the mining firm.
SOURCE: Suzanne Nam (Forbes.com/Asia)
