With $3.8B,Henry Sy still RP's richest -Forbes' 40 Richest Filipinos list
The rich are getting richer in the Philippines, says Forbesasia.com, thanks to a better economy that has made two-thirds of the Philippines' tycoons richer or has helped them maintain their wealth.
"This year, 25 tycoons are richer, including nine of the top 10," says Forbes. "This year's biggest gainer is mall mogul Henry Sy, once again the nation's richest person. His net worth increased $700 million to $3.8 billion, as shares of his main holding company, SM Investments, appreciated by 28% since our last list."
Debuting on this year's list are petroleum magnate Robert Coyiuto Jr., Marian Rosario Fong, a former partner of Sy's supermarkets with a 1% stake in SM Investments worth $38 million; and Benjamin "Kokoy" Romualdez, brother of former First Lady Imelda Romualdez Marcos and father of Congressman Martin Romualdez of Le Cirque fame. See the complete list here.