Twelve Filipino billionaires have made it to the Forbes’ 2018 annual ranking of the world’s richest people.
The list shows that for the 11th year, SM Group’s Henry Sy remains the wealthiest person in the Philippines.
The retail, property, and banking magnate has a net worth of $20 billion — substantially up on his $12.7 billion last year. This fortune now makes him the 52nd richest person in the world.
John Gokongwei, founder of JG Summit conglomerate, which has interests in air transportation, telecommunications, banking, food, power, and property, followed with a net worth of $5.8 billion. This puts him at 305th richest in the world.
Enrique Razon, owner of International Container Terminal Services, claimed the third spot with a net worth of $4.9 billion, making him the 404th richest in the world.
LT Group’s Lucio Tan is the fourth richest in the Philippines with $4.7 billion.
Next up is Jollibee’s Tony Tan Caktiong, who came in fifth with $4 billion.
Close behind is GT Capital’s George S K Ty with a net worth of $3.9 billion.
In seventh place is politician turned businessman Manuel Villar of Vista Land and Lifescapes with a $3 billion fortune.
Megaworld’s Andrew Tan is the country’s eighth richest with $2.7 billion, followed by San Miguel president Ramon Ang with $2.5 billion.
Robert Coyiuto, of Prudential Guarantee & Assurance, is the 10th richest with $1.4 billion followed by San Miguel chairman Eduardo Cojuangco with $1.3 billion and Alphaland’s Roberto Ongpin with $1.1 billion.
Last year, 14 Filipinos made it onto the list. The late David Consunji of DMCI Holdings and DoubleDragon Properties’s Edgar Sia are are the two who missed out.
Globally, Amazon founder Jeff Bezos is the richest in the world with a net worth of $112 billion. He is followed by Microsoft’s Bill Gates with a $90 billion fortune.
This year’s list includes 2,208 dollar billionaires with a collective worth of $9.1 trillion.