Forbes lists the 50 richest people in the Philippines in 2014
...Or a list of people whose bank accounts you want to have.
On Thursday (August 28), Forbes magazine released its list of the 50 richest Filipinos for 2014. According to the publication, the nation’s 50 wealthiest are worth a combined US$74 billion, up 12% from last year’s $65.8 billion.
Henry Sy topped the list for the seventh consecutive year with a net wealth of $12.7 billion, up $700 million from last year, thanks to the rising shares of his SM Prime Holdings and Banco de Oro. Lucio Tan remained in the second spot with a net worth of $6.1 billion.
Port and casino tycoon Enrique Razon Jr. also saw his wealth rise to $5.2 billion, up from $4.5 billion a year ago, placing him third on the list. The casino chief is placing a big bet on expanding his Solaire Resort & Casino and is looking to expand in Macau, Japan and Latin America.
There were four newcomers on this year's list:
- Ricardo S. Po and family of canned food company, Century Pacific Group (No. 21, $770 million);
- Dean Lao, co-founder of D&L Industries (No. 26, $625 million);
- Raul and Jose Concepcion and family, twin brothers who took over their father's manufacturing and food businesses, Concepcion Industrial and RFM Corporation (No. 34, $320 million); and
- Pawnshop titan P.J. Lhuillier of Cebuana Lhuillier (No. 49, $180 million).
For the complete list of 50 wealthiest, visit the Forbes Philippines website or grab a copy of the latest issue of Forbes Asia.