Top 10 Richest People in the Philippines

Even if the Philippines is a poor country, there are still a few people here who excelled in the world of business and became billionaires. You want to find out who those people are and how much they are worth?

Here is the list of this year’s Top 10 richest people in the Philippines:

1. Henry Sy & family
Henry Sy remains to be the undisputed richest person in the Philippines. From $11.4 billion net worth last year, his net worth increased to $14.4 Billion as of October 15, 2015.

For years, Henry Sy has consistently been in the list of Forbes richest people not just here in the country but in the whole world as well. He may have what everyone wants to have now, but did you know that he was not born with a golden spoon in his mouth? Yes, he was actually born to a poor family in Xiamen, China on December 25, 1924. Despite his humble beginning, he was able to establish a small footwear shop we now know as SM Malls which paved his way to riches.

2. John Gokongwei, Jr.
John Gokongwei, Jr. jumped to the 2nd place on the list of Forbes’ richest people in The Philippines with a net worth of $5.5 Billion from being 5th place last year with $3.9 Billion.

He was also born in China, but unlike Henry Sy, he came from a wealthy family in Fujian province. John started his business with a cornstarch plan in the 1950s and now he owns Universal Robina Corporation which is one of the leading manufacturers of snacks in Southeast Asia and the Robinsons land which is likewise one of the largest property developers in the country.

3. Andrew Tan
Andrew Tan jumped a notch higher from being in the 4th place last year with a net worth of $3.8 Billion. At the age of 63, this self-made Billionaire now has an estimated net worth of $4.5 Billion.

From being a son of a factory worker, he now runs the Alliance Global Group Inc. (AGI) which is composed by Megaworld Corporation (a real estate corporation), Emperador Distillers Incorporation, and Golden Arches Development Corporation that operates McDonald’s franchises in the Philippines.

4. Lucio Tan $ family
Lucio Tan & family drops two places from being the second richest people in the Philippines last year with $6.1 Billion, his net worth dropped to $4.3Billion this year.

This Filipino-Chinese businessman also hailed from Fujian, China used to be a janitor for a tobacco company while he was studying at Far Eastern University. Today, Tan’s LT Group runs a tobacco business and is also a major player in the airline, banking, liquor, and real estate industries.

5. Enrique Razon, Jr.
The 55 year-old Enrique Razon, Jr. who chairs the biggest port operator in the country dropped a notch in this year’s richest people in the country with a real-time net worth of $4.1 Billion as of October 15, 2015 from $4.2 Billion last year.

Razon inherited the International Container Terminal Services, Inc. (ICTSI) in 1987 and turned it into a global cargo port operator with container port terminal services in Batangas, General Santos City, Manila, Subic, Brazil and Poland.

6. George Ty & family
George Ty & family skipped one notch higher to the 6th place this year with a net worth of $4 Billion from being in the 7th place last year with $2.3 Billion.

This 82-year-old banker and business tycoon failed his attempt to open a business because he was not granted a loan from a bank at the age of 19. But even if he had no financial training he was able to open his own bank by the age of 29.

He founded the Metropolitan Bank and Trust Company. He also served as Chairman of the Global Business Holdings, Inc., Manila Medical Services, Inc. and Toyota Motor Philippines Corporation.

7. Aboitiz family
The Aboitiz family who runs the Aboitiz Equity Ventures (AEV), involved in banking, food, power, property and transportation made it to this year’s list of 2015 Philippines 50 Richest with a net worth of $3.6 Billion. The family also ranked 44th in Asia’s Richest Families on Forbes’ lists this year.

8. Jaime Zobel de Ayala & family
Ayala Corp made a $400 million profits last year which boosted their stock price by 8% and help them reach a net worth of $3.5 Billion, making them the 8th richest people in the Philippines today.

Ayala started with a small distillery but the company started to expand and is now one of the largest in the country with Ayala Land, Bank of the Philippines Islands (BPI), Globe Telecom, and Manila Water among their businesses.

9. David Consunji
David M. Consunji is the founder and chairman of DMCI Holdings, Incorporated (PSE: DMC). He used to be the Secretary of the Department of Public Works, Transportation and Communications during the Marcos administration from 1970 to 1975.

Last year, he was the 6th richest Filipino, with a net worth of $3.9 Billion. This year he falls to the 9th place with a net worth of $3.2 Billion.

10. Tony Tan Caktiong & family
Tony Tan Caktiong & family dropped to the 10th place this year even if their net worth rose to $2.2 Billion from $1.7 Billion last year.

Tony is the founder, chairman and CEO of the Filipino fast food chain Jollibee with 1,480 stores worldwide.

The business which started as an ice cream parlor in 1975 has greatly expanded and now serves Chinese, American and European recipes. Tan also owns Chowking, Greenwich, Manong Pepe’s, Mang Inasal, Red Ribbon, and Tita Frita’s Uling Uling.

As you can see, most of the billionaires in the Philippines started from a humble beginning but because they persevered, they were able to achieve success in the business they entered into. Despite the hurdles we may encounter in our lives, we should never lose hope. Instead, we should take it as a challenge. Conquer your fears and capture your dreams.

Reference:
Forbes’ list of billionaires in the Philippines