01/11/2014 03:06:08 Free Membership Login

Philippines newest billionaires list for 2011 from Forbes

The Philippines’ top 40 richest according to Forbes even grew to a collective $34 billion, up from last year’s $22.8 billion. The Philippines’ economy grew only 4.9% in the  first quarter of the year in part because of a drop  in trade and lower infrastructure spending by  government, off from 8.4% in 2010, but the country’s stock market is booming. The stock exchange’s composite index is up 27% since last year, surpassing its 2007 benchmark. This lifted the fortunes of the  country’s richest to an all time high.

Thirty-two tycoons are richer. For the fourth year in a row Henry Sy holds the top spot with a net worth of $7.2 billion,  up from $5 billion last year. The biggest gainer in percentage  terms is former trade minister Roberto Ongpin, whose fortune soared more than fourfold to $1.3 billion. Most of that  gain was thanks to an increase in his stake in listed miner  Atok-Big Wedge, though Ongpin says the company’s stock  price overinflates its value.

Overall the number of billionaires has more than doubled  this year to 11—a record haul. Among the newly minted billionaires is port operator Enrique Razon Jr., who saw his  net worth jump to $1.6 billion from $975 million last year.   Only two fortunes declined this year, both because of a better understanding of their assets and not because their  companies performed poorly.

Among the four newcomers are Jose Antonio, founder of  high-end property developer Century Properties; Jacinto Ng  Sr., founder of biscuit maker Rebisco; and 34-year-old Edgar  Sia II, the youngest on the list, who sold his barbecue chain to Tony Tan Caktiong’s Jollibee Foods.  A minimum of $85 million was needed to make the list this  year, up from last year’s $50 million.

Four from 2010 didn’t  make the cut, including Lourdes Montinola, whose family owns 41% of Far Eastern University; and Jesus Tambunting,  who controls Planters Development Bank. Their gains  couldn’t  match the stellar performance of others on the list.

Network bigwigs Eugenio Lopez III of ABS-CBN and GMA Network’s Gilberto Duavit Jr. and Felipe Gozon landed anew in this year’s list of the “Philippines’ 40 Richest,” according to Forbes Magazine.

The list was published by the magazine on its official website on June 22, and it shows GMA Network COO Duavit Jr. occupying the 26th spot with a net worth of $190 million, while network CEO Gozon clinches 30th place with an estimated $163 million in assets.

ABS-CBN Chairman and CEO Eugenio Lopez III ranks No. 39 in the list, and is worth $90 million.

Oscar Lopez—who is the Chairman Emeritus of the Lopez Group of Companies (formerly Benpres Holding Corporation)—is at No. 23, with estimated wealth amounting to $280 million.

Businessman and GMA Network former President Menardo Jimenez’s $185 million net worth, on the other hand, is good enough to corner the 27th spot.

It is interesting to note that all of the names mentioned suffered a dip in their respective rankings as compared to last year.

In 2010, Oscar Lopez was ranked No. 16; while Gilberto Duavit Jr., placed 25th overall in the list.

Menardo Lopez was at the 26th spot, Felipe Gozon at No. 27, and Eugenio Lopez III at the 36th slot, according to Forbes Magazine’s report.

here’s the list of the top 10 richest, ranked by their worth in  millions of Dollars, and age displayed in next column.

1

Henry Sy

7,200 86
2

Lucio Tan

2,800 77
3

John Gokongwei Jr.

2,400 83
4

Andrew Tan

2,000 58
5

David Consunji

1,900 90
6

Jaime Zobel de Ayala

1,700 77
7

Enrique Razon Jr.

1,600 51
8

Eduardo Cojuangco Jr.

1,400 76
9

Roberto Ongpin

1,300 74
10

George Ty

1,100 78

 

 

The complete list below shows all the 40 richest Filipinos ranked

the complete list of the Philippines’ 40 Richest as published by Forbes Magazine:

 

1. Henry Sy  – $7.2 billion

2. Lucio Tan – $2.8 billion

3. John Gokongwei Jr. – $2.4 billion

4. Andrew Tan – $2 billion

5. David Consunji – $1.9 billion

6. Jaime Zobel de Ayala – $1.7 billion

7. Enrique Razon Jr. – $1.6 billion

8. Eduardo Cojuangco Jr. – $1.4 billion

9. Roberto Ongpin – $1.3 billion

10. George Ty – $1.1 billion

11. Tony Tan Caktiong – $1 billion

12. Inigo and Mercedes Zobel – $980 million

13. Emilio Yap – $930 million

14. Andrew Gotianun – $795 million

15. Jon Ramon Aboitiz – $760 million

16. Beatrice Campos – $685 million

17. Manuel Villar – $620 million

18. Vivian Que Azcona – $555 million

19. Robert Coyiuto Jr. – $400 million

20. Mariano Tan – $375 million

21. Alfonso Yuchengco – $370 million

22.  Enrique Aboitiz – $310 million

23. Oscar Lopez – $280 million

24. Jose Antonio – $245 million

25. Eric Recto – $200 million

26. Gilberto Duavit – $190 million

27. Menardo Jimenez – $185 million

28. Alfredo Ramos – $180 million

29. Betty Ang – $165 million

30. Felipe Gozon – $163 million

31. Tomas Alcantara – $160 million

32. Benjamin Romualdez – $155 million

33. Wilfred Uytengsu Jr. – $150 million

34. Manuel Zamora Jr. – $145 million

35. Jacinto Ng Sr. – $115 million

36. Frederick Dy – $110 million

37. Luis Virata – $100 million

38. Bienvenido Tantoco Sr. – $95 million

39. Eugenio Lopez III – $90 million

40. Edgar Sia II – $85 million

Comments

  1. i wonder why MVP was not included in the list

  2. Hello Guys,

    I’m a newie about stocks!I’d been looking for a mentor, situated in Davao City. Who can suggest one?I wanted to know also what are the top stock picks? and per share prices? which is the best to invest in?i really need a help in this matter. please let me know about stock market crashes time to time, as this is a normal part of stock market behavior. your response will be appreciated. thanks!

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  3. Of the 40 Billionaire in the Philippines, FEU Produced 4. Henry Sy(1), Lucio Tan(2), Alfonso Yuchengco(21), Menardo Jimenez( 27). Nice one FEU..

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