Ten Richest People in the Philippines

Source: Forbes Magazine

The shopping mall magnate, Henry Sy, is the Philippine richest person for four straight years now

Compared to the richest people in the world in Forbes magazine's listing of billionaires, the Philippines' richest people are the poorest. There are several factors affecting their wealth, first is the slow economic growth in the Philippines because of a drop in trade and lower infrastructures spending, second is the small market capitalization.

But there's a surprising twist when Forbes magazine tracked the global wealth of these billionaires in the middle part of 2011. Due to the sudden boom of Philippine Stock Market, the fortunes of 34 Filipino tycoons increased dramatically. Henry Sy, stays in the number one spot for four straight years. There's a slight change in the 2011 listing of Philippine billionaires compared to the listing of Forbes magazine in 2010

Despite increasing his wealth by almost 50% from 2010, Tony Tan Caktiong, founder and CEO of Jollibee Food Corporation, is down from 7th in 2010 to number 11 in 2011, he is now worth $1.0 billion. Tan Caktiong's fast food empire includes Greenwich, Chowking, Red Ribbon and Mang Inasal.

Here's the top ten list based on their 2011 June net worth asset:

1. HENRY SY
Age: 87
Net worth: $7.2 billion
Industry: Malls, Real Estate, Banking
Flagships: SM Investment Corporation, SM Prime Holdings
List of controlled companies:
SM Malls
SM Land Development
Banco De Oro (BDO)
Belle Corporation
Highlands Prime


2. LUCIO TAN
Age: 77
Net worth: $2.8 billion
Industry: Diversified
Flagship: Lucio Tan Group of Companies
List of controlled companies:
Asia Brewery
Fortune Tobacco
PNB
Allied Bank
Philippine Airlines (PAL)
Air Philippines/ Air Express
Tanduay Distillers
University of the East
Pan Asia Securities
Macro Asia Corporation
Himmel Industries


3. JOHN GOKONGWEI
Age: 85
Net worth: $2.4 billion
Industry: Diversified
Flagship: JG Summit Holdings
List of controlled companies:
Digital Telecomm
Sun Cellular
Cebu Pacific
Robinsons malls
Robinsons Land
Universal Robina Food Corporation

4. ANDREW TAN
Age: 58
Net worth: $2.0 billion
Industry: Real Estate, Liquors, Franchising
Flagship: Alliance Global World, Inc.
List of controlled companies:
Megaworld Corporation
Emperador Distillers
Mcdonald Franchise in the Philippines

5. DAVID CONSUNJI
Age: 90
Net worth: $1.9 billion
Industry: Construction
Flagship: DMCI Holdings
List of controlled companies:
DMCI Group of Companies
Semirara Mining Corporation
Atlantic Gulf and Pacific Company

6. JAIME ZOBEL DE AYALA
Age: 77
Net worth: $1.7 billion
Industry: Real Estate, IT, Banking
Flagship: Ayala Holdings
List of controlled companies:
Ayala Land Corporation
Bank of the Philippine Islands (BPI)
Abreeza Mall in Davao
Globe Telecomm
Hacienda Makati
Insular Life

7. ENRIQUE RAZON, JR.
Age:
Net worth: $1.6 billion
Industry: Harbor, Port management services
Flagship: International Container Terminal Services
List of controlled companies
International Container Terminal Services
Manila International Container Terminal
Baltic Container Terminal

8. EDUARDO "Danding" COJUANCO, JR.
Age: 76
Net worth: $1.4 billion
Industry: Food, beverage
Flagship: San Miguel Corporation
List of controlled companies:
San Miguel
Ginebra
Magnolia
Purefoods
Monterey
San Miguel Packaging Products
San Miguel Properties
B-Meg

9. ROBERTO ONGPIN
Age:
Net worth: $1.3 billion
Industry: Mining, Real Estate, IT
Flagship: AIA Capital
List of controlled companies:
Philweb Corporation
Philex Mining Corporation
South Seas Oil
ISM Communication
Atok Big Wedged Company
Macondray Plastic Incorporated


10. GEORGE TY
Age:
Net worth: $1.1 billion
Industry: Banking, Investment
Flagship: Metropolitan Bank and Trust Company
List of controlled companies:
Metrobank
Philippine Savings Bank
G.T International Tower in Makati

Rounding the Top 20:

NAME                            Business                      Net Worth in $
11. Tony Tan Caktiong    Jollibee, Chowking, etc    1.0 billion
12. Iñigo Zobel               Ayala Land                         980 million
13. Emilio Yap                Manila Bulletin                    930 million
14. Andrew Gotianun      Filinvest, Eastwest bank      795 million
15. Jon Ramon Aboitiz    Aboitiz Group                     760 million
16. Beatrice Campos       United Laboratories           685 million
17. Manny Villar              Vista Land, Camilla            620 million
18. Vivian Que Azcona     Mercury Drug                   555 million
19. Robert Coyiuto Jr.      Philweb                             400 million
20. Mariano Tan               Diversified                        375 million