Forbes Reveals Top 50 Philippines’ Richest List 2014

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Forbes magazine reveals the top 50 richest man in the Philippines last Thursday. The top 50 wealthiest are worth $74 billion combined, according to Forbes magazine.

Four newcomers join the 50 including the Po Family (No. 21), Dean Lao (No. 26), the Concepcions (No. 34) and P.J. Lhuillier (No. 49).

While the losers in the Top 10 was Lucio Tan (No. 2), whose fortune fell on worries about the cigarette market. Media moguls Gilberto Duavit (No. 44), Jimenez Menardo (No. 45) and Felipe Gozon (No. 48) all dropped on a lower stock price for their GMA Network.

Philippines’ 50 Richest 2014

Rank #1: Henry Sy & Family – $12.7B Net worth
Origin of Wealth: Diversified
Retains top spot for seventh year in a row. Richer than ever, thanks to rising share price for his SM Prime Holdings, country’s largest mall operator, and Banco de Oro.

Rank #2: Lucio Tan & Family – $6.1B Net worth
Origin of Wealth: Diversified
Keeps long-held red ribbon as second richest. Impressive given 32% drop in his main holding, LT Group, since last time fortunes were calculated.

Rank #3: Enrique Razon, Jr. – $5.2B Net worth
Origin of Wealth: Ports
Casino chief placing a big bet on continued expansion of Solaire Resort & Casino. Solaire is adding 300 more rooms, a shopping mall and a theater. Eying future plays in Macau, Japan and Latin America.

Rank #4: Andrew Tan – $5.1B Net worth
Origin of Wealth: Diversified
Property plutocrat with large stake in Megaworld, builder of apartment complexes doubling as small cities. Big into brandy, too: His Emperador Distillers went public last year and agreed to buy Scotchmaker Whyte & Mackay for $720 million in May.

Rank #5: John Gokongwei, Jr. – $4.9B Net worth
Origin of Wealth: Diversified
Prosperity abounds at conglomerate, JG Summit Holdings, which he founded. Stock is at record highs. Another part of fortune in Robinsons Retail Holdings (department stores, supermarkets); it went public in largest Filipino IPO last year.

Rank #6: David Consunji – $3.9B Net worth
Origin of Wealth: Construction
Construction czar’s wealth has increased with 60% rise in his DMCI Holdings’ stock. Foundation for fortune: early gig as a concrete inspector.

Rank #7: George Ty & family – $3.7B Net worth
Origin of Wealth: Banking
Started Metropolitan Bank & Trust Co. (known as Metrobank) in his 20s. Mind for math, eye for art: each Metrobank branch was decorated with paintings he chose. Reserved, reclusive and buttoned-up. Gave up chairmanship to son, Arthur, in 2006. Family also has stakes in Toyota Motor Philippines, Philippine AXA Life Insurance.

Rank #8: Family Aboitiz – $3.6B Net worth
Origin of Wealth: Diversified
Clan of power players, with its Aboitiz Power mulling expansion into Indonesia. Company generates and distributes power. Rest of fortune largely comes from Aboitiz Equity Ventures, with investments in businesses like Filipino UnionBank and flour-and-feed producer Pilmico Foods.

Rank #9: Jaime Zobel de Ayala & Family – $3.4B Net worth
Origin of Wealth: Diversified
The 180-year-old Ayala Corp. is run by a clan of corporate aristocrats. Modern expansion was started by Jaime’s grandfather, who pushed the tribe into banking, real estate and hotels. Patriarch Don Jaime is a renaissance man: Harvard architecture student, world-class photographer, former diplomat. Ran companies like Bank of the Philippine Islands, which Ayala Corp. still owns.

Rank #10 – Tony Tan Caktiong & Family – $2B Net worth
Origin of Wealth: Fast Food
Prospered from selling American-style burgers in the Philippines. His Jollibee Foods is nation’s largest fast-food joint, with more than 750 restaurants.

Continuation of Rank 11 – 50:

RANK NAME NET WORTH
11 Robert Coyiuto Jr. $1.800B
12  Lucio & Susan Co $1.700B
13 Emilio Yap $1.475B
14 Manuel Villar $1.460B
15 Inigo & Mercedes Zobel $1.200B
16 Alfredo Yao $1.000B
17 Andrew Gotianun $955M
18 Vivian Que Azcona & Famil $935M
19 Eduardo Cojuangco $870M
20 Beatrice Campos and family $825M
21 Ricardo Po and family $770M
22 Oscar Lopez and family $700M
23 Alfonso Yuchengco and family $685M
24 Roberto Ongpin $680M
25 Betty Ang $670M
26 Dean Lao $625M
27 Manuel Zamora $620M
28 Carlos Chan $550M
29 Jorge Araneta $510M
30 Mariano Tan, Jr. $445M
31 Edgar Sia $390M
32 Ramon Ang $380M
33 Michael Romero $375M
34 Concepcion family $320M
35 Philip Ang $315M
36 Frederick Dy $310M
37 Luis Virata $300M
38 Alfredo Ramos and family $260M
39 Wilfred Steven Uytengsu, Jr. and family $255M
40 Tomas Alcantara $250M
41 Jose Antonio $240M
42 Bienvenido Tantoco, Sr. and family $235M
43 Jacinto Ng $230M
44 Gilberto Duavit and family $200M
45 Menardo Jimenez family $195M
46 Eric Recto $190M
47 Walter Brown $183M
48 Felipe Gozon $182M
49 PJ Lhuillier $180M
50 Juliette Romualdez $170M

 

ABS-CBN News said last thursday that the list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts and other sources. Net worths are based on stock prices and exchange rates as of close of markets on August 18.





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