If the number of malls around the country is any indication, it’s pretty obvious that the richest person in the Philippines is currently SM’s Henry Sy. As of this year, the 93-year-old tycoon, whose businesses range from retail to real estate, boasts a net worth of $18.3 billion.
But the second richest in the country, Manny Villar, experienced a 1,300% surge in shares in his business, covering real estate housing projects and condos, Forbes reports.
Aside from real restate, food remains a strong industry. Ramon Ang, Inigo and Mercedes Zobel, and Eduardo Cojuango of San Miguel were also among those whose net worths shifted up this year. Ang, who also owns a variety of other businesses, reports a $2.85 billion net worth, coming in at Number 8 on the Philippines’ 50 Richest list.
Despite the ongoing boycott and issues surrounding Jollibee Foods regarding employee regularization, Tony Tan Caktiong still came in as 6th richest in the country, with a net worth of $3.85 billion.
But in the midst of all the millionaires in food and beverage, real estate, construction and development, banking, and pharmacieuticals, there’s an interesting newcomer in the 50 Richest list: Josie Natori, founder of fashion label The Natori Company. Her net worth as of this month is $150 million, earning her the 45th spot in the list.
Out of the 50, there are only five women. Meanwhile, the youngest on the list is Edgar Sia II (41), chairman of DoubleDragon Properties. He was also the founder of Mang Inasal.
Photo courtesy of Unsplash
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