Henry Sy still PHL's richest man — Forbes

With a net worth of $13.7 billion, property, retail, and banking tycoon Henry Sy Sr. remains the richest person in the country for the ninth straight year, business publication Forbes Philippines announced Thursday.

Sy's family owns SM Investments Corp., the largest retailer in the Philippines with stakes in banking, property and retail.

According to Forbes, the Top 10 richest in the Philippines are:

• Henry Sy -$13.7 billion

• John Gokongwei Jr. - $6.8 billion

• Aboitiz family - $5 billion

• Lucio Tan - $4.9 billion

• George Ty - $4.6 billion

• Tony Tan Caktiong - $4.3 billion

• Jaime Zobel de Ayala & family - $4.1 billion

• Enrique Razon Jr. - $3.5 billion

• David Consunji - $3.1 billion

• Andrew Tan -$3 billion

The list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts, and other sources, Forbes noted.

Unlike the Forbes billionaire rankings, this list includes family fortunes shared among extended families such as that of Lucio Tan and his relatives.

Net worth is calculated based on stock prices and exchange rates as of the close of markets on August 12. Private companies were valued based on similar companies that are publicly traded. — Ted Cordero/ GMA News