11 Filipino tycoons make it to Forbes list

Henry Sy: Still the Philippines’ richest

MANILA, Philippines—Eleven tycoons from the Philippines made it to Forbes Magazine’s 2013 roster of richest people on the planet, still led by Henry Sy and family whose group dominates local retailing, residential and mall development, and banking.

The number of Philippine tycoons that made it to the elite club swelled from only six in 2012 as the buoyant local stock market boosted wealth valuations of local tycoons. Lucio Tan, Enrique Razon Jr., Andrew Tan and Roberto Ongpin are still on this year’s list.

The new members this year are David Consunji and family, George Ty and family, Lucio and Susan Co, Robert Coyiuto Jr., Tony Tan Caktiong and family and Andrew Gotianun and family.

Sy remained the country’s wealthiest man with an estimated net worth of $13.2 billion, followed by Lucio Tan with $5 billion. Sy, whose “SM” group is a household brand in the Philippines, ranked 68th richest globally while the latter ranked 248th.

Razon, who is in international port terminal operations through flagship International Container Terminal Services Inc., was the country’s third wealthiest man valued at $4.9 billion, followed by Andrew Tan with $3.95 billion, Consunji at $2.8 billion, Ty at $2.6 billion, Co at $2 billion, Coyiuto at $1.6 billion, Tan Caktiong at $1.4 billion and Gotianun and Ongpin both at $1.2 billion.

The 2013 Forbes list has 1,426 billionaires across the globe on its roster with an aggregate net worth of $5.4 trillion. Mexican telecom magnate Carlos Slim is still the wealthiest man on the planet, followed by Microsoft founder Bill Gates and Amancio Ortega of Spanish retailer Zara.