Tuesday, March 21, 2017

14 PH tycoons among Forbes’ richest worldwide

Fourteen Filipino tycoons led by the SM Group’s Henry Sy Sr., were among the richest individuals on the planet, according to the 31st Forbes’ World’s Billionaires list.

More Filipinos made it to this year’s index, compared to 11 in 2016, as the Philippines ranked among the fastest growing economies in the region. For 2017, Forbes Magazine counted 2,043 global billionaires, a 13 percent increase.

According to Forbes, Henry Sy Sr., whose SM Investments Corp. controls the country’s largest banking, shopping mall and retail businesses, had a net worth of $12.7 billion.

Sy, at 92 years-old, remained the only Filipino among the world’s 100 wealthiest people.

He was followed by John Gokongwei Jr., who had a net worth of $5.8 billion. The Gokongwei family controls JG Summit Holdings Inc., a property, airline, food and beverage conglomerate. It also has interests in the country’s biggest electricity retailer, Manila Electric Co., and telecommunications giant PLDT Inc.

The third richest in the country is Lucio Tan, with a fortune of $3.7 billion. Tan’s LT Group is in beverages, banking, tobacco and real estate. Tan also owns Philippine Airlines, the region’s oldest commercial air carrier.

The remaining Filipino billionaires who made it to this year’s list:

  • George Ty (banking, property, automotive): $3.5 billion
  • Enrique Razon Jr. ( ports, casinos): $3.4 billion
  • Tony Tan Caktiong (fast food, real estate): $3.4 billion
  • David Consunji (construction, power, property): $3.1 billion
  • Andrew Tan (property, gaming, liquor, fast food): $2.5 billion
  • Robert Coyiuto Jr. ( insurance, power, automotive): $1.5 billion
  • Manuel Villar Jr. (property, retail): $1.5 billion
  • Ramon Ang (food, beverage, infrastructure, property): $1.4 billion
  • Eduardo Cojuangco Jr. ( cement, agriculture): $1.2 billion
  • Roberto Ongpin (property): $1.1 billion
  • Edgar Sia II ( fast food, property): $1 billion

Forbes said its billionaires list was a “snapshot” of wealth taken on Feb. 17, 2017.

SOURCE: SFM/Miguel R. Camus/http://business.inquirer.net/226536/14-ph-tycoons-among-forbes-richest-worldwide/amp

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