Filipino Billionaires newcomers: Andrew Tan and Enrique Razon

The country’s mall magnate Henry Sy and tobacco king Lucio Tan remained among the world’s richest, while Andrew Tan and Enrique Razon joined the elite billionaires list this year, according to Forbes Magazine.

Rising from the 201st place in 2010, Sy and his family ranked 173rd in Forbes’ list of super-rich this year with a net worth of $5.8 billion.

The Sys control SM Investments Corp., which owns the Philippines’ largest mall operator and bank. The conglomerate has expanded into China, leasing malls, and ventured into gaming with a $350-million casino to open in Manila soon.

Tan and his family, on the other hand, moved up to the 512th slot from 582nd previously, as their combined net worth reached $2.3 billion. The Lucio Tan group has investments in flag carrier Philippine Airlines, beer maker Asia Brewery, and cigarette manufacturer Fortune Tobacco, which merged with another giant Philip Morris recently. The group also has mining projects and a property in Hong Kong.

Name Net Worth (2011) Rank Networth (2010) Rank Age
Henry Sy & family $5.8 B 173 $4.2 B 201 86
Lucio Tan & family $2.3 B 512 $1.7 B 582 76
Andrew Tan $2.2 B 540 $1.2 B 58
Enrique Razon $1.1 B 1057 $975 M 51

 

New global billionaires

Meanwhile, businessmen Andrew Tan and Enrique Razon are new additions to the billionaires list. Their net worths were $2.2 billion and $1.1 billion, respectively.

Tan owns Alliance Global Group Inc., which is engaged in real estate and tourism, food and beverage and quick service restaurants.

Razon heads port operator International Container Terminal Services, whose profits almost doubled in the past year thanks to the uptick in global trade.

Notably, Andrew Tan has edged out other families in the Forbes List whose wealth reached the billion mark as of July 2010.

These included John Gokongwei Jr., whose wealth was estimated at $1.5 billion in the 2010 Forbes List of 40 Richest in the Philippines.

Andrew Tan also went past Jaime Zobel de Ayala, whose family was reported to have wealth estimated at $1.4 billion last year, in the 2011 billionaires list.

Zobel de Ayala was the third billionaire from the Philippines in the 2009 list, but was dropped from the 2010 cut-off.

Razon, on the other hand, went past Jollibee food chain founder Tony Tan Caktiong. Forbes estimated Caktiong and family’s wealth last year to have reached $980 million.

source: abs-cbnnews

Comments

  1. ako kaya kelan magiging billionaire…hehe…kahit man lang yung yumaman ng kaunti, ok na muna sa akin…hehe…thanks for this good post 😉

  2. Mas rich si Willie Rebillame kaya kay Sharon Cuneta.. Willie is a billionaire like Manny Pacqiao.
    Willie paid P57M sa BIR, meanwhile Sharon paid P19M lang.

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