TOP 40 FILIPINO BILLIONERS

Forbes Magazine names RP’s richest
Posted on March 17th, 2008 under Biz Progress
Mall tycoon Henry Sy is one of three billionaires topping a list of the Philippines’ 40 richest people who have a combined net worth of $16 billion.
Forbes Asia released its first Philippines’ rich list, but said that as a group, the 40 wealthiest Filipinos are the least affluent when compared with their counterparts in the region.
It attributed that to the Philippines’ chronic political instability and its small stock market, with an estimated capitalization of $50 billion.
The Dec. 25 issue appeared on the newsstands yesterday.
Sy, owner of the chain of SM malls, has a net worth of $4 billion (euro3 billion), followed by another Filipino-Chinese magnate, Lucio Tan, with US$2.3 billion net worth (euro1.7 billion).
Tan is the owner of flag carrier Philippine Airlines. He also makes his fortune from tobacco, beer and property in Hong Kong, Forbes Asia said.
Jaime Augusto Zobel de Ayala came in third with a net worth of $2 billion (euro 1.5 billion). The patriarch of Ayala Corp., the Philippines’ oldest conglomerate, officially retired in April.
The magazine also noted the story of John Gokongwei Jr., who ranked sixth.
After the death of his wealthy father at age 13, he peddled thread, soap and candles during World War II. He now heads JG Summit, a telecom, property, food, airline and textile conglomerate. He is worth $700 million (euro528 million).
Five women also appear on the list, the richest among them Beatrice Campos, with a net worth of $160 million (euro 120 million). Her late husband, Jose Campos, was one of the co-founders of United Laboratories.
THE TOP 40
1. Henry Sy - $4.0 billion SM, BDO
2. Lucio Tan - $2.3 billion TANDUAY/ UNION BANK/ PAL PNB
3. Jaime Zobel de Ayala - $2.0 billion AYALA LAND/ BPI
4. Eduardo Cojuangco - $840 million SAN MIGUEL
5. George Ty - $830 million METRO BANK
6. John Gokongwei - $700 million ROBINSON
7. Tony Tan Caktiong - $575 million JOLLIBEE
8. Andrew Tan - $480 million EMPERADOR, MC DONALD
9. Emilio Yap - $350 million MANILA HOTEL. MANILA BULITIN
10. Oscar Lopez - $315 million ABS CBN
11. Enrique Razon Jr. - $285 million CONTAINER PORT
12. Andrew Gotianun - $280 million FIL INVEST
13. Enrique Aboitiz - $275 million UNION BANK
14. Alfonso Yuchengco - $225 million RCBC
15. Menardo Jimenez - $210 million GMA 7
16. Gilberto Duavit Jr. - $210 million GMA 7
17. Ramon del Rosario - $205 million INVESTMENT BANKING
18. Felipe Gozon - $180 million GMA 7
19. Beatrice Campos - $160 million UNILAB
20. Luis J. L. Virata - $150 million INVESTMENT BANKER/ NICKEL ASIA
21. David M. Consunji - $145 million DMCI CONTS
22. Bienvenido Tantoco Sr. $140 million RUSTAN
23. Betty Ang - $115 million MONDE NISSIN LUCKY ME NODDLE
24. Manuel Villar - $110 million CAMELLA HOMES
25. Mariano Tan - $100 million UNILAB
26. Rolando and Rosalinda Hortaleza - $90 million SPLASH
27. Oscar Hilado - $85 million UNION GALVA STEEL, BACNOTAN CONSOLIDATED IND.
28. Vivian Que Azcona - $80 million Mercury drug
29. Manuel Zamora - $75 million Mining
30. Magdaleno Albarracin - $73 million
31. Jesus Tambunting - $70 million Planters bank
32. Frederick Dy - $65 million Security Bank
33. Tomas Alcantara - $60 million ALCANTARA GROUP in Davao
34. Lourdes Montinola 79 YRS OLD- $50 million HEAD TRUSTEE FAR EASTERN UNIVERSITY
35. Salvador Zamorra - $45 million MINING /cONGRESSAMAN
36. Antonio Roxas - $40 million 65 YRS OLD single ROXAS HOLDING (SUGAR PRODUCERS)
37. Wilfred Steven Uytengsu Sr. - $38 million GENERAL MILLING CORP
38. Philip T. Ang - $35 million MINING SOLID MILLS
39. Marixi Prieto - $30 million PDI
40. Manuel Pangilinan - $25 million PLDT

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