Manny Villar tops list of Filipino billionaires in Forbes’ world’s richest list

Manny Villar Jr.

MANILA  -Real estate mogul Manuel Villar Jr. topped the catalog of 14 Filipino billionaires who landed in Forbes Magazine’s 2023 World’s Billionaires List.

Villar -the founder of property developer of Vista Land & Lifescapes Inc., Allday Marts supermarkets and Vistamalls Inc.- has a net worth of $8.6 billion, making him the 232nd richest person in the world. 

The No. 2 richest Filipino is Enrique Razon Jr., owner of ports operator International Container Terminal Services Inc. and casino company Bloomberry Resorts. 

Razon has a net worth of $7.3 billion, according to Forbes. 

San Miguel Corp. (SMC) president Ramon Ang, with a fortune of $3.4 billion, is the country’s third richest man in the country.

SMC is one of the country’s largest conglomerates with interests spanning food and beverage, energy and infrastructure. 

Henry Sy Jr., vice chair of property, banking and retail conglomerate SM Investments Corp., is the country’s fourth richest man with a net worth of $2.5 billion.

Sy, whose sisters and bothers are also part of the Forbes rich list, is the chair of Synergy Grid & Development Phils Inc., which controls the country’s power transmission operator, National Grid Corp. of the Philippines.  

He shares the No. 4 spot with Andrew Tan, founder of conglomerate Alliance Global Group, a property, beverage, gaming and fast food holding company. 

Siblings Hans Sy and Herbert Sy, who each have a net worth of $2.4 billion, occupy the No. 5 spot in the Forbes rich list. 

Hans was the longtime president of property giant SM Prime Holdings, where he remains a director, and serves as adviser of SM Investments, chair of China Banking Corp. and chair of National University. 

Hebert is also an adviser of SM Investments and plays an active role in the group’s supermarket operations. 

Sharing the No. 5 spot is taipan Lucio Tan with a net worth of $2.4 billion. 

Tan is the owner of Philippine Airlines, the country’s flag carrier, and chair of LT Group, a conglomerate with interests in tobacco, spirits, banking and real estate. 

Siblings Harley Sy and Teresita Sy-Coson, each with a net worth $2.2 billion, shared the No. 6 spot on the list. 

Harley is the former president of SM Investments, where he remains executive director. He is also a director of China Bank, an adviser of BDO Private Bank and co-vice chair of SM Retail. 

Teresita, eldest child of the late taipan and SM Group founder Henry Sy Sr., is the vice chair of SM Investments and chair of BDO Unibank, the country’s biggest lender. 

Their sister Elizabeth Sy, occupying the No. 7 spot, has a net worth of $1.9 billion. 

Elizabeth is an adviser of SM Investments and plays an active role in the group’s tourism, leisure and hospitality operations. She is the current chair and president of SM Hotels and Conventions. 

At No. 8 is Lance Gokongwei with a net worth of $1.4 billion. 

Gokongwei, the only son of the late taipan John Gokongwei Jr., is the CEO of JG Summit Holdings, a conglomerate with interests that span food and beverage, real estate, airlines, telecommunications, power and electricity distribution. 

Fast food tycoon Tony Tan Caktiong, with a fortune of $1.2 billion, is the country’s 9th richest man. 

Caktiong is the founder and chair of Jollibee Foods Corp., a fast-food giant with over 6,400 stores around the world. 

At No. 10 is Iñigo Zobel with a fortune of $1 billion. 

Zobel’s fortune comes from his stake in San Miguel Corp, where he sits as board director. He also has a stake in the country’s oldest conglomerate, Ayala Corp., which is controlled by his relatives. 

According to Forbes, French luxury goods tycoon Bernard Arnault tops the world’s billionaires ranking for the first time, with an estimated net worth of $211 billion. He dislodged American tech billionaire Elon Musk, who dropped to the No. 2 spot with a net worth of $180 billion. The latest Forbes rich list counted 2,640 global billionaires, down from 2,668 last year, with a combined net worth of $12.2 trillion.