11 Pinoys Made it to the List of World’s Richest

Despite economic problems Philippines is facing, 11 Filipinos make it on top and considered as one of the world’s billionaire’s in the world according to Forbes. Forbes’ yearly recognizes the contributions of world’s billionaires in the economy and government. Forbes released our annual accounting of the world’s richest people, all 1,826 billionaires with more than $7 trillion among them. the planet, a title he’s held for 16 of the past 21 years. His fortune grew $3.2 billion since last year to $79.2 billion, despite a gift of $1.5 billion in Microsoft.

But nonetheless, Forbes named the 11 richest Filipinos in Philippines. But how many of the richest on our list are still actively entrepreneurial, still running the company they founded, still actively managing and taking risks? Not many, if you just look at the top 11 wealthiest people in our country.

Here’s the 11 Richest Filipinos Forbes:

1. Henry Sy is still the richest Filipino with a net worth of $14.2 billion. He ranked number 73 among the richest billionaires in the world. He is no other than Henry Sy, the retail magnate who owns all established 33 SM Malls and also a banking magnate who owns Banco De Oro-Equitable-PCI Bank and majority share in China Bank. This is another inspiring story as we witness his rags to riches story on how he built all SM Malls and became one of the biggest bankers enabling him to become the richest man in our country surpassing both Lucio Tan and the Ayalas. His determination, his discipline and his thriftiness have produced an astute and street smart businessman who has influenced a lot of people.

2. John Gokongwei Jr. who has a net worth of $5.8 billion. Gokongwei, who ranks 254th richest in the world, has businesses in airlines, telecoms, property development, banking, hotels, and power. His JG Summit Holdings outperformed market, making him a billionaire for the first time. Shares hit 2-year peak earlier this year partly on plans to list group’s budget carrier, Cebu Pacific, whose IPO subsequently got delayed. Brother James Go chairs JG Summit, son Lance is president. Group’s retail unit, Robinsons, has stores in 7 countries.

3. Enrique Razon Jr. is a Filipino billionaire and the Chairman and CEO of the Manila-listed company International Container Terminal Services, Inc. (ICTSI), the Philippine port-handling giant. He is currently the third richest Filipino, a four-place jump from last year’s ranking, mainly because of his stake in Bloom berry Resorts and Hotels and ranks 291st richest person in the world with a net worth of $5.2 billion.

4. Andrew Tan was originally from China before he moved in the Philippines. He was a son of poor Chinese immigrants. His father was a factory worker. In his early childhood, he and his family lived in an apartment in Hong Kong which they shared with four other families. In Manila, he studied accounting at the University of the East where he graduated with honors. Tan recalls that instead of riding a public jeepney, he prefers walking. This way, he can save money. He is the Philippines’ fourth richest billionaire with a net worth of $4.8 billion. He ranks 330th in the world. Aside from Megaworld, Tan is also the man behind the success of Emperador Distillers and Resorts World Manila.

5. Lucio Tan is the Philippines’ fifth richest billionaire and 369th in the world with a net worth of $4.4 billion. owns Asia Brewery, maker of popular Beer na Beer. It also has a stake in Philip Morris-Fortune Tobacco, which has an estimated 80% market share of the country’s cigarette market; the firm has said it’ll cut jobs amid a slide in sales. In addition to Fortune Tobacco, LT Group has absorbed some other companies owned by Tan, including Philippine National Bank and Asia Brewery. Inaddition to these companies, Tan has a stake in Philippines Airlines, the country’s oldest airline. After selling a 49% stake to San Miguel Corporation in 2012, Tan launched a bid to buy back these shares in 2014 as the airline returned to profitability. Up north, in Hong Kong, he owns real estate developer Eton Properties.  Tan became the primary stockholder of Philippine National Bank. The merging of PNB and Allied Bank is expected to be completed before the end of this year. In an effort to consolidate his business empire, he established the L. T. G. (Lucio Tan Group) as a vast holdings entity for all his stakes in the varied companies that the empire operates. The move should resolve the growing market perception that to date there is still no clear indication of who shall rise to succeed and secure his business empire’s continuity.

6. George Ty is a Filipino banker and business magnate. He founded Metropolitan Bank and Trust Company, currently the second largest bank in terms of Assets and Capital in the Philippines. He also has stakes in Federal Land, Inc., the Bank of the Philippine Islands and Philippine Savings Bank, a Metrobank subsidiary. Ty was the owner of the T. International Tower in Makati. Ty has been a Senior Adviser of Philippine Savings Bank since April 2008. Ty serves as an Adviser of First Metro Investment Corporation and Philippine AXA Life Insurance Corporation. He served as an Advisor of Philippine Savings Bank from April 2006 to April 2008. Ty is the Founder of Metropolitan Bank and Trust Company (MBTC). He founded and served as the General Manager of Wellington Flour Mills. Ty has been Chairman of Metrobank Group since 2006. He has been Chairman of the Advisory Board of First Metro International Investment Co., Ltd since 2002. He serves as Chairman of the Board of Global Business Bank Inc. He serves as Chairman of the Board of Mla. He served as Chairman of Toyota Autoparts Philippines Corp. from 1990 to July 2005. Ty served as Chairman of Metropolitan Metropolitan Bank & Trust Company from 1975 to 2006 and also served as its Co-Chairman since May 2006. He has been Director of Manila Doctors Hospital since 1979 and GT Capital Holdings Inc. since May 14, 2013. He serves as a Director of Metrobank Group, San Miguel Corp., Maynilad Water Services and Metropolitan Bank & Trust Company. He serves as a Director of Toyota Autoparts Philippines Corporation. He served as a Non-Executive Director of Lai Fai International Holdings Ltd. since September 14, 2002.  He is the sixth richest billionaire with a net worth of $4.4 billion and 369^th in the world.

7. David M. Consunji is the chairman of publicly listed holding firm, DMCI Holdings, Incorporated (PSE: DMC). He was a former secretary of the Department of Public Works, Transportation and Communications from 1970 to 1975, during the Marcos  He is the 7^th billionaire with $4.1 billion net worth and 405^th in the world.

8. Tony Tan Caktiong founded the fast food chain Jollibee in 1978, after having started it as an ice cream parlor in 1975.^[1]Through expansion and acquisitions of Greenwich Pizza  which enabled it to enter the pizza-pasta segment. In early 2006, Jollibee Foods Corp. bought out the remaining shares of its partners in Greenwich Pizza Corporation, equivalent to a 20% stake, for P384 million in cash. As of August 2008, Tan’s Jollibee has a total of 1,480 stores worldwide including Jollibee, Red Ribbon, Chowking, Greenwich, Manong Pepe’s, Mang Inasal and Tita Frita’s Uling Uling. He is on the 8^th place with $2.7 billion net worth and 690^th rank in the world.

9. Lucio and Susan Co are husband-and-wife team, have struck gold with their Puregold Price Club, a chain of over 150 hypermarkets, supermarkets and discount stores. Starting with one store in 1998, the Cos have expanded at a rapid pace, lately through acquisitions, to build Puregold into the country’s second-largest retailer, after Henry Sy’s SM group. They landed on the 9^th place having $2.3 billion net worth and 810^th place in the world list.

10. Robert Coyiuto, Jr. is the chairman of one of the Philippines’ largest insurance companies, the Prudential Guarantee & Assurance. His late father, Robert Coyiuto, Sr., was a successful businessman and philanthropist. Coyiuto is also the owner of PGA Cars, an exclusive auto distributor of model cars like Porsche, Lamborghini and Audi in the Philippines. 30 percent of his wealth comes from the National Grid Corporation, a Philippine power transmission company. Currently, he is in 10^th place with a net worth of $1.8 billion and landed as 1054^th placer in the world.

11. Manuel “Manny” Bamba Villar, Jr. is a Filipino businessman and politician. He is the President of the Nacionalista Party and a member of the Senate of the Philippines. Villar was Speaker of the House of Representatives from 1998 to 2000. He is the 11^th riches Filipino having $1.6 billion net worth and a 1190^th placer in the world. He is recognized as the richest legislator in Philippine history where he was consistently the richest congressman from 1992 to 2001 and richest senator from 2001 until 2008. Vista Land and Lifescapes, Inc., a family owned business of Villar, is also listed in the privately owned Philippine Stock Exchange. Their shares of stocks were bought primarily by foreign funds which had given the government, as well as the PSE, good revenues.

According to Forbes, the results: this decidedly non-scientific analysis reveals a total of just 16 active entrepreneurs out of the top 50, with many self-made business people settling comfortably into background roles or taking on new challenges, like philanthropy. Whether they’re weathering controversy or acquiring new businesses, these business tycoons are changing the way we live, work, and play. They take big risks, successfully predict future trends, and drive their companies to the top of their industries.