Eleven Filipinos have made it to Forbes magazine’s annual billionaires’ list this 2016.
The top billionaire in the Philippines is Henry Sy, who is on the 71st spot with an estimated net worth $12.9 billion. The 91-year-old Filipino-Chinese business magnate’s SM Investments Corporation is the largest retailer in the Philippines with over 200 individual outlets around the country. Sy also topped Forbes’ richest man in the Philippines for the eight straight year in 2015.
John Gokongwei Jr., who helms conglomerate JG Summit with interests in food and beverages, airlines, telecom, property development, banking, hotels, and power, landed on the 270th spot with a net worth of $5 billion.
On the 421st spot is George Ty with a net worth of $3.7 billion. He leads Metrobank, the country’s second-largest bank in terms of assets in 2015.
David Consunji, Andrew Tan, and Tony Tan Caktiong all landed on the 569th spot with net worths of $3 billion.
David Consunji made his mark in the construction business through his company DMCI. The business’ income mostly comes from power generation, real estate, and infrastructure.
Andrew Tan’s holding company, Alliance Global, has interests in food and beverage, gaming, and real estate. He also heads Philippines’ McDonalds franchise.
Tony Tan Caktiong is the man behind Filipino fast food joint Jollibee, which was dubbed by Forbes’ as the fastest-growing Asian restaurant chain in the world.
On the 722nd spot is Enrique Razon Jr., whose net worth is at $2.4 billion. He chairs and runs International Container Terminal Services, the Philippines’ largest port operator.
Husband-and-wife tandem Lucio and Susan Co’s net worth is at $1.6 billion, landing them on the 1,121st spot of Forbes’ 2016 Billionaires List. The couple is behind the Puregold hypermarket chain, the country’s second-largest retailer after Sy’s SM Group.
Roberto Coyuito, Jr. holds a 30% stake in National Grid Corporation, which is responsible for the power grid for the entire country. He is also the chairman and owner of PGA Cars. His net worth is at $1.6 billion, which landed him on the 1121st spot.
The 11th Filipino on the Billionaires List is Manuel Villar. His net worth is at $1.3 billion and he is on the 1367th spot. Villar’s has stakes in Starmalls and Vista Land & Lifescapes.
Forbes’ 2016 Billionaires List is topped by Microsoft founder Bill Gates for the 17th time.
The richest woman in the world is Liliane Bettencourt, who owns cosmetics giant L’Oreal. Her net worth is at $36.1 billion, landing her on the 11th spot.