Fifteen business tycoons from the Philippines – led by the “brown taipan” Manuel Villar for the second straight year – are among the wealthiest people on the planet, based on Forbes Magazine’s 2020 list of billionaires.
All of the six children of the late tycoon Henry Sy Sr., who dominated the list for over a decade when he was alive, are included in the list. However, their wealth is now estimated on an individual basis instead of the collective estimate of $12.4 billion.
Villar, a self-made businessman and former politician, has an estimated net worth of $5.7 billion. The founder of Vista Land group ranked 298th out of 2,095 billionaires counted by Forbes.
The second richest in the Philippine list is port terminal operator and integrated gaming tycoon Enrique Razon Jr., with an estimated fortune of $3.2 billion. Razon recently gained majority voting rights in beleaguered water concessionaire Manila Water Co.
Hans, Herbert, Henry Jr., Harley and Teresita Sy all landed on the list with their respective net worth estimated at $2.3 billion, $2.2 billion, $2.1 billion, $2.1 billion and $2 billion. Their sister Elizabeth Sy is also on the list at 10th place locally, with an estimated net worth of $1.8 billion.
Tobacco magnate Lucio Tan ranked eighth richest with an estimated fortune of $1.9 billion, while property tycoon Andrew Tan is ninth place in the local list with an estimated fortune of $1.8 billion.
Robert Ongpin, with an estimated fortune of $1.8 billion, ranked 11th locally, while Jollibee founder Tony Tan Caktiong is valued at $1.5 billion.
San Miguel Corp. president and Eagle Cement chair Ramon S. Ang has an estimated fortune of $1.5 billion, giving him the 13th slot, followed by Robert Coyiuto Jr. and Eduardo Cojuangco, with estimated net worth of $1.4 billion and $1.1 billion, respectively.
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.