Forbes Asia: Henry Sy still Philippines’ richest, Manny Villar down from 9th to 17th
In its July 2010 issue, Forbes Asia named mall mogul Henry Sy, 85, the richest Filipino for the fourth time, reports Business Mirror. Now worth $5 billion, Sy increased his wealth by $1.2 billion from last year due to the 25 percent boost of his SM Investments stock.
Coming in second is 76-year-old Lucio Tan, whose businesses include Fortune Tobacco, Asia Brewery and Eton Properties. From $1.7 billion last year, his net worth is now $2.1 billion.
First-time billionaire John Gokongwei Jr., 83, followed with a net worth of $1.5 billion, up from $720 million last year. According to Business Mirror, Gokongwei’s net worth more than doubled this year because JG Summit Holdings shares hit a two-year peak.
Entrepreneur.com.ph listed Forbes Asia’s top 10 richest in the Philippines this year:
1. Henry Sy - $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
Manny Villar, the presidential candidate who reportedly spent billions on his campaign and came in at third, is down from 9th ($530 million) to 17th ($380 million).