Forbes 40 Richest Men in the Philippines 2010 list

TWENTY billion dollars is how much a large USbank had to return to the government after receiving bailout. It is how much a giant oil company will pay victims of the recent oil spill. It is also the total net worth of the 40 richest people from the Philippines.In its 2010 list, Forbes Asia Magazine showed the Philippines 40 richest individuals’ total net worth rose a hefty 39% to $22.8 billion from last year’s $16.4 billion.

The Philippines ’ upbeat economy and its 17% uptick in the stock market both contributed to the growth in wealth of the country’s 40 richest, a recent Manila Bulletin report stated, quoting Forbes Asia Magazine.

The esteemed media company Forbes, whose publications target decision makers in business, compiles the list of richest individuals in various countries annually. Among others, the company publishes magazines Forbes Asia, ForbesLife, and Forbes Woman.Its ranking is based on information from public documents, stock exchange information, and analysts’ opinions. It also considers estimates of the privately held assets of the businessmen.

Philippines’ richest man, mall mogul with Fernando Zobel de Ayala, another prominent Filipino entrepreneur. Inquirer photoOn the Forbes 2010 list, the Philippines’ richest was mall mogul Henry Sy who is worth $5 billion. This was $1.2 billion more than last year, as his wealth increased due to a 25% increase in the stock of SMinvestments. Sy is head honcho of one of the country’s biggest conglomerates that own the ubiquitous SMmalls all over the Philippines. He has been the richest Filipino four times, based on Forbes Asia lists. Number two on the ranking this year is Chinese-Filipino businessman Lucio Tan with $2.1 billion, or $1.7 billion higher than last year. Tan is the owner of Fortune Tobacco, Asia Brewery and Hong-Kong based Eton Properties. He also has interests in flag carrier Philippine Airlines or PAL and in Philippine National Bank or PNB.Third on the list is 83-year old John Gokongwei, who is worth $1.5 billion, or more than double his $720-million net worth last year.

Shares of the tycoon’s JG Summit Holdings reached a two-year peak this year, which pushed his net worth upwards. Ayala Corporation’s Jaime Zobel de Ayala was at fourth place, with $1.4 billion, while Alliance Global Group’s Andrew tan was at fifth place with $1.2 billion.

In Forbes Asia’s 2010 list, there are five billionaires, compared with last year’s three. Aside from the top five tycoons, Philippines’ richest man, mall mogul with Fernando Zobel de Ayala, another prominent Filipino entrepreneur. Inquirer phototwenty-eight others on the list posted financial gains during the period.

On the other hand, four tycoons who were on the list in the past year were poorer this year. Manuel Villar reduced his net worth to only $380 million from $530 million, after he lost his bid in the recent presidential elections. Three executives of media company GMA network also posted lower incomes. These are Gilberto Duavit with $145 million, Menardo Jimenez with $143 million and Felipe Gozon with $120 million. All four, however, are still among the country’s 40 richest.

The minimum net worth to make the list this year increased to $50 million, up from $38 million previously. The full list of the Philippines ’ richest can be found in the July 2010 issue of Forbes Asia Magazine.

( www.asianjournal.com )

The top five tycoons are not the only ones who saw gains in their wealth, 28 others on the list also enjoyed growth in their net worths. One notable winner is 89-year old David Consunji, ranked No. 12, whose wealth again significantly increased for the second straight year. His net worth soared to $715 million, up from $300 million in 2009 and $105 million in 2008, as his construction firm DMCI’s shares have more than doubled.

Bucking the trend, four tycoons are poorer compared with a year ago. Manuel Villar, who lost the Philippine presidential election in May, dropped to No. 17 with a reduced net worth of $380 million, down from $530 million last year. GMA Network’s Gilberto Duavit (No. 25; $145 million), Menardo Jimenez (No. 26; $143 million), and Felipe Gozon (No. 27; $120 million) also saw smaller fortunes this year.

There are two new faces on the list this year. The highest ranking newcomer is former minister of trade, Roberto Ongpin (No. 21; $300 million). He is part of an investor group that is poised to become the majority shareholder in San Miguel. The 73-year old also has investments in property, gaming, mining and telecom. The other new entrant is Wilfredo Keng (No. 32; $100 million) who runs mining company Century Peak Metals.

The minimum net worth to make the list this year increased to $50 million, up from $38 million previously.

The complete list of Forbes Magazine’s 40 Richest in the Philippines follows:
1. Henry Sy                                                           US$5 billion
2. Lucio Tan                                                           $2.1 billion
3. John Gokongwei Jr.                                         $1.5 billion
4. Jaime Zobel de Ayala                                      $1.4 billion
5. Andrew Tan                                                       $1.2 billion
6. Tony Tan Caktiong                                        $980 million
7. Enrique Razon Jr.                                          $975 million
8. Beatrice Campos                                          $840 million
9. George Ty                                                        $805 million
10. Eduardo Cojuangco Jr.                              $760 million
11. Inigo and Mercedes Zobel                        $ 730 million
12. David Consunji                                            $715 million
13. Emilio T. Yap                                                $665 million
14.Andrew Gotianun                                          $500 million
15. Vivian Que Azcona                                       $445 million
16. Oscar Lopez                                                 $420 million
17. Manuel Villar                                                 $380 million
18. Jon Ramon Aboitiz                                      $360 million
19. Mariano Tan                                                  $330 million
20. Robert Coyuito, Jr.                                       $310 million
21. Roberto Ongpin                                           $300 million
22. Alfonso Yuchengco                                      $260 million
23. Betty Ang                                                        $165 million
24. Enrique Aboitiz                                              $150 million
25. Gilberto Duavit                                              $145 million
26. Mynardo Jimenez                                         $143 million
27. Felipe Gozon                                                 $120 million
28. Alfredo Ramos                                              $117 million
29. Manuel Zamora                                             $116 million
30. Wilfred Uytengsu, Jr.                                    $115 million
31. Benjamin Romualdez                                  $110 million
32. Wilfred King                                                    $100 million
33. Tomas Alcantara                                             $99 million
34. Bienvenido Tantoco, Sr.                                 $95 million
35. Frederick Dy                                                      $70 million
36. Eugenio Lopez III                                              $68 million
37. Lourdes Montinola                                           $65 million
38. Luis Virata                                                          $57 million
39. Jesus Tambunting                                           $55 million
40. Philip Ang                                                           $50 million

(mb.com)

Comments

  1. I wonder how does it feel to be the richest man in the Philippines… It must be very hard to count all those money.. hahaha

  2. Why don’t this guyz donate even 1Million pesos or more for the poor people of the philippines. i believe its nothing from them it won’t give any damn effect on their money.. My God!! please you multi-millionaires!! i know there are thousands of them. i know if you guyz combined your millions, it will help all of the filipinos!! Hindi puro pagpapayaman at panlalamang sa kapwa ang intindihin nyo.. Sana nman magising kayong mga multi-millionaire and billionares for God sake!! Hindi ba kau pwedeng magkasundo at bumuo ng isang commission para mangalap ng tag-iisang million sa inyong mga super millionaryo at bilyonaryo. Nang mkatulong kau sa bansang Philippines.

  3. I’ll overtake all those richest people right now…hahaha. I’ll use my wealth to help a great number of people realize their potential, it’s going to be my legacy. After all, I know that those material things will not be buried with me when I die. I want to exchange the wealth that I will amass into something of greater value.

  4. ANTONION DE JESUS BIAG JR. says:

    I HAVE $1,000,000,000,000.00 (one trillion US dollar) because of the Worldwide Wealth System I created. THANK YOU VERY MUCH… WE DID IT… THANKS…

  5. wers Manny V. Pangilinan?

  6. Angelica Enriquez Bilbao says:

    Yes great things start with small beginnings .
    If you listen to your fears, you will die never knowing what a great person you might have been.
    Robert H. Schuller

  7. ckrizhnielle13 says:

    WOW..ladies and gentlemens why don’t you try to share some of your blessings…and live more happily..

    it is better to give than to receive…the feeling is priceless..when you know you helped someone who are less privileged….

    GOD BLESS..

  8. Aringkingking says:

    Where’s CGMA, FVR, the MARCOSES? The Forbes Magazine result is not so accurate…LOL

  9. carlcapin says:

    ang pinak-idol ko s lahat ang pamilya LOPEZ,,dabest talag sila dahil purong piny ang buong pamilya nila,,,,,,,,,,,

  10. They are owning 90% wealthy of the country? Rich people are more and more rich, poor people are more and more poor, How can this world be this?

  11. those amounts are earned very hard,chage the way we think and learn to invest..

  12. those amounts are earned very hard,chage the way we think and learn to invest..being rich and poor was their own choice..those people donate to many charities..

  13. close the gap says:

    They dont give a bloody shitt!! to their poor country people. all they care is accumalating their wealth. these millionaires are heading to hellfire for sure..

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