14 PH tycoons among Forbes’ richest worldwide

/ 04:05 PM March 21, 2017


MANILA — Fourteen Filipino tycoons, again 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.  SFM

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TAGS: 31st Forbes World's Billionaires List, Business, Commonwealth, economy, Filipino tycoons, Finance, fortune, Henry Sy Sr., JG Summit Holdings Inc., John Gokengwei Jr., LT Group, Lucio Tan, net worth, SM Investments Corp., wealth
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