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Tuesday, August 02, 2011

Richie Rich

Forbes Asia magazine released their list of  Top 40 Richest People in the Philippines and guess who made it to the top spot? (drum roll please?)

It's Henry Sy again with a net worth of $7.6B. Take note it's net worth (!) meaning less all the liabilities such as utangs. Hay, ang rich ng lolo.

photo courtesy of millionaireacts.com

A closer look at the names and it's no brainer that most of them are not Pinoys by blood. In reality, the richest people in our country are foreigners. Look at the top 10 spots - did you notice too that most of them are Chinese?

Here's the Top 40:

1. Henry Sy with a net worth of $7.2B is 86 years old and the patriarch of SM Group and SM Prime Holdings. You see an SM mall and you see Henry's face. He owns Banco De Oro, China Bank, among other investments in property development.

Sometime last year while we were malling at SM Mall of Asia, we saw Henry Sy crossing between Building A and B. He is seated on wheel chair and is being pushed by a male assistant while 2 body guards followed close by. I'd say he is quite a simple man. Mas madami pang alalay si Gretchen Barreto pag rumarampa (umaarte, actually).

2. Lucio Tan, net worth of $2.8B. The 77 year-old business magnate whose name is synonymous to cigarettes is the second richest man in the country. He owns Fortune Tobacco, the largest tobacco manufacturing company in the Philippines.

Tan had very humble beginnings - he worked as a janitor to finish his education and climbed his way to the top. Now his companies deal with liquor (Tanduay Distillers and Asia Brewery), tobacco (Fortune Tobacco), banking (Allied Bank and PNB), real estate (Eton Properties and Century Park Hotel) and who can forget, Philippine Airlines.

3. John Gokongwei Jr. with a net worth of $2.4B is my former boss, well, indirectly as I used to work in one of the 5 star hotels owned by the Gokongwei's.

Mr. John as he is called by his John Gokongwei Summit Holdings (JG Summit) employees is 83 years old and boasts of an inspiring story of hardship before he became the mogul that he is today. His empire has business interests in branded consumer foods (Universal Robina Corp.), real estate property development (Robinson’s Land Corp.), air transportation (Cebu Pacific Air), banking and financial services (Robinson’s Bank), telecommunications (Sun Cellular and Digitel), petrochemicals (J.G. Summit Petrochemical Corp.), and United Industrial Corp. of Singapore.

Rich as he is but unbelievably a very simple man. When I was still working at one of his hotels, he would often be spotted at the hotel coffee shop having breakfast in plain white camisa shirt, loose pants and slippers.

4. Andrew Tan, net worth $2B. He's got three major businesses under his name - condominium developer Megaworld Corportation, Emperador Distillers and Golden Acres Development Corporation (McDonalds!).

5. David Consunji whose net worth of $1.9B is the man behind those chic low-rise condominiums of DMCI. From 12th spot in 2010, the former DPWH secretary he climbed to 5th spot this year.

6. Jaime Zobel de Ayala, net worth $1.7B. The surname Ayala never fails to ring a bell; it's synonymous to money. Who doesn't know that they own Globe Telecoms, Ayala Corporation and the country's largest bank, Bank of the Philippine Islands? (Who also doesn't know he's got a gorgeous son Jaime Augusto Zobel de Ayala, now in his 50s but still handsome nonetheless?)

In 2007, he is the Philippines' richest (tied with Henry Sy).

7. Enrique Razon Jr. is the Chairman and CEO of  International Container Terminal Services, Inc. (ICTSI), the largest corporation in the country providing container port terminal services. He is the Philippines youngest billionaire at age 51 with a net worth of $1.6 billion.

8. Eduardo 'Danding' Cojuangco Jr. has recently won his legal battle against PCGG for allegedly acquiring his stake at San Miguel Corporation, the country's  largest food and beverage corporation during the regime of Pres. Marcos. He has a net worth of $1.4B

Other businesses associated with Danding are Meralco, United Coconut Planters Bank, Bank of Commerce, and Purefoods.

9. Roberto Ongpin is 59 years old with a net worth of $1.3B. He is the CEO and Chairman of ISM Communications Corporation, Director of AIA Capital and Chairman of PhilWeb Corporation.

10. George Ty is the founder and chairman of Metrobank Group of Companies with $1.1B in the bag. Other affiliations also include Toyota Motor Philippines, Global Business Holdings and Federal Land.

11. Tony Tan Caktiong (Jollibee Foods, Chowking, Red Ribbon) – $1B

12. Inigo and Mercedes Zobel – $980M

13. Emilio Yap (Manila Bulletin and CEU) – $930M

14. Andrew Gotianun – $795M

15. Jon Ramon Aboitiz – $760M

16. Beatrice Campos – $685M

17. Manuel Villar (si Senator!) – $620M

18. Vivian Que Azcona – $555M

19. Robert Coyiuto Jr. – $400M

20. Mariano Tan – $375M

21. Alfonso Yuchengco (Yuchengco Group of Companies including RCBC) – $370M

22. Enrique Aboitiz – $310M

23. Oscar Lopez – $280M

24. Jose Antonio – $245M

25. Eric Recto – $200M

26. Gilberto Duavit – $190M

27. Menardo Jimenez – $185M

28. Alfredo Ramos – $180M

29. Betty Ang – $165M

30. Felipe Gozon – $163M

31. Tomas Alcantara – $160M

32. Benjamin Romualdez – $155M

33. Wilfred Uytengsu Jr. – $150M

34. Manuel Zamora Jr. (dad of chuvaness, hehe) – $145M

35. Jacinto Ng Sr. – $115M

36. Frederick Dy – $110M

37. Luis Virata – $100M

38. Bienvenido Tantoco Sr.(Rustan's Group) – $95M

39. Eugenio Lopez III (more popular as Gabby Lopez of the Lopez Group of Companies including ABS-CBN) – $90M

40. Edgar Sia II (owner of Mang Inasal, he is the youngest in the list at age 34!) – $85M

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