These 20 entrepreneurs and businessmen have made their way to the top list of billionaires and tycoons in the country. See the list to know who gained the top spot!
1. Henry Sy and Family
Henry Sy is considered the richest man in the Philippines. SM Investments Corp is now the largest retailer in the Philippines. The firm is also one of the country’s largest conglomerates, with interests in real estate development, shopping malls and banking. Sy also has a stake in the electricity firm, National Grid Corp. Sy has a total net worth of $15.5 Billion (Php 728,600,750,000.00).
2. John Gokongwei Jr.
Gokongwei owns a stake in the publicly-listed Robinson Retail Holdings and franchises for True Value, Top Shop, Toys R Us, and Daiso. His brother James Go chairs JG Summit. Gokongwei’s son Lance is president and his daughter Lisa runs Summit Media with more than 20 magazine titles including Forbes Philippines, which launched in 2014. Gokongwei now has a net worth of $4.3 Billion (Php 305,542,250,000.00)
3. Lucio Tan and Family
Tan started from mopping floors to pay for school. Today, Lucio Tan’s LT Group has interests in banking, property development, beverages, spirits and tobacco. Tan now has a net worth of $4.3 Billion (Php 202,127,950,000.00).
4. George Ty and Family
Owner of the country’s second-largest bank, Metrobank, the entrepreneur has gone on to set up power plants, distribute Toyota vehicles, sell insurance, and develop real estate and other ventures. He has been consolidating nonfinancial businesses under GT Capital. Ty now has a net worth of $4.25 Billion (Php 206,828,600,000.00)
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5. Toni Tan Caktiong and Family
Caktiong is known for owning the publicly-traded Jollibee Foods, a fast-food chain that has made a permanent mark in the mainstream burger market. Jollibee Foods is now the fastest-growing Asian restaurant chain in the world. Caktiong now holds a $4.2 Billion (Php 197,427,300,000.00) amount of net worth.
6. Aboitiz Family
This family owns Aboitiz Equity Ventures (AEV), with interests in power, transportation, banking, food and property. AEV began as an abaca-trading and general-merchandise business and later moved into interisland shipping, transporting goods across the Visayas. The family has a constitution and formal process for those descendants interested in joining the company and/or working their way up to management and now has a net worth of $3.6 Billion (Php 169,223,400,000.00)
7. Jaime Zobel de Ayala
Ayala owns several conglomerates and companies in the Philippines. They include the publicly traded Ayala Land, Bank of the Philippine Islands, Globe Telecom Manila Water. Ayala expanded with a drug store chain, Generika. Ayala was able to earn a net worth of $3.5 Billion (Php 164,522,750,000.00).
Andrew Tan, owner of Alliance Global, has interests in food and beverage, gaming and real estate. He also owns the Philippines’ McDonald’s franchise. In November of 2015 his group’s liquor arm, Emperador, agreed to buy Beam Suntory’s brandy business in a $297 million deal. Tan has now made a net worh of $3.4 Billion (Php 112,815,600,000.00.00).
9. David Consunji
Consunji is the founder of construction company DMCI. Now, the company gets most of its income from power generation, real estate and infrastructure. He also has stakes in the country’s largest coal miner, Semirara Mining. Today, Consunji has a net worth of $3.2 Billion (Php 150,420,800,000.00).
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10. Lucio and Susan Co
The husband and wife team, with a net worth of $1.81 Billion (Php 84,924,295,000.00) started with one hypermarket in 1998. They closed out 2015 with 274 stores, making them the country’s second largest retailer, after Henry Sy’s SM Group. The Co family also has a money transfer company, retail pharmaceuticals, office supplies, gaming, hotels, wine distribution, and property development.
11. Enrique Razon Jr.
Razon chairs and runs International Container Terminal Services, the Philippines’ largest port operator. He started out in the port business with his dad in Manila with a company called ICTSI. It eventually transformed into a global giant with a presence in Eastern Europe, Africa and the Americas. It is now considered as one of the largest port operators. His hospitality firm, Bloomberry Resorts Co., boasts its crown jewel, the Solaire Casino and Resort. Razon has a net worth $1.65 Billion (Php 145,720,150,000.00).
12. Robert Coyiuto Jr.
Coyiuto chairs Prudential Guarantee & Assurance, one of the largest insurance firms in the Philippines. He also holds a 30% stake in the National Grid Corporation of the Philippines. He is also the chairman and owner of PGA Cars, a Filipino auto distributor of luxury brands like Porsche, Audi, Lamborghini, and Bentley.
13. Manuel Villar
Manuel Villar, a current senate president, has stakes in Starmalls and Vista Land & Lifescapes. Wharton-educated son Paolo runs Vista. From a kid helping his mother sell seafood in the market, to a man who earns a net worth of $1.49 Billion (Php 69,910,055,000.00) he has come a long way.
14. The Yap Family
Their fortune was previously owned by Emilio Yap, who passed away last year. The largest piece of their fortune stems from a stake in Philitrust Bank. They also own the Manila Bulletin Publishing Corp., responsible for the country’s second oldest leading newspaper, the Manila Bulletin.
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15. Alfredo Yao
From running errands for his street vendor mother to gaining $1.27 Billion (Php 60,995,350,000.00), this businessman started a printing press then moved on to shrink-wrapping biscuits and candies. Soon his homemade fruit juice, packed in stand-up pouches, became a hit. Today Zest-O brand juices are sold in 44 countries.
16. Andrew Gotianun
He is the founder and chairman of Filinvest Development, with interests in real estate development, sugar, hospitality, power generation and banking. East West Banking Corp is the fifth largest credit card issuer in the Philippines. He started the business 60 years ago with wife Mercedes and 8 employees and is now being run by his daughter, Josephine Gotian. He currently has a net worth of $1.27 Billion (Php 59,587,765,000.00)
17. Dean Lao
The owner of D&L Industries, a company that specializes in food, plastics, and aerosol industries, had a net income growth of 27% in 2014 due to low crude oil prices, a surge in commodities and exports of specialty plastics. Lao was able to have a net worth rate of $1.27 Billion.
18. Oscar Lopez
He is the chairman emeritus of the firm Lopez Holdings, with a net worth of $ 1 Billion (Php 46,919,500,000.00). The firm is famous for its film production outfit, Star Cinema, an ABS-CBN Broadcasting subsidiary. The firm’s had a banner first half for 2015. Lopez also has a controlling stake in First Gen Corporation, one of the country’s leading renewable energy producers, with control over geothermal, hydro and natural gas plants.
19. Betty Ang
The president and founder of food manufacturer Monde Nissin has made the brand grow drastically over the last 5 years. It was the first firm in the country to sell dry noodles to make instant soup. Currently, it boasts more than a 60 % share in the market and over 30 % of the biscuits sector. Betty Ang now has a net worth of $905 million (Php 42,462,147,500.00).
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20. Roberto Ongpin
A diversified, self-made billionaire with a net worth of $900 million (Php 42,227,550,000.00), this high profile and controversial tycoon settled a long-standing disagreement last June with the UK-based group Ashmore, his 9-year long partner with Alphaland. The deal was arranged by his nephew, Eric Recto, and has slashed his debt, making his net worth higher.
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