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Forbes Magazine names 40 richest Filipinos

Henry Sy Sr., whose wealth was primarily fueled by the success of SM shopping malls, is the richest man in the Philippines for the third year in a row, according to Forbes magazine’s survey on the 40 richest Filipinos for 2010. The mall mogul’s net worth rose to $5 billion in the Forbes 2010 survey from $3.8 billion a year earlier. He was also the Philippines' wealthiest man in the 2006 survey. Sy ranks 201st in the 2010 list of 1,011 billionaires of the world, that according to Forbes dropped from 1,125 in 2008. The 85-year-old patriarch of the Sy family made $8 million more in terms of net worth since Forbes came up with The World's Billionaires list in March 2010. Lucio Tan, owner of Philippine National Bank, Asia Brewery, Tanduay Holdings, Fortune Tobacco and Philippine Airlines Inc. ranked second with a net worth of $2.1billion, up by $4 million from the magazine’s 2009 list. In third spot is first-time billionaire John Gokongwei Jr. whose net worth of $1.5billion in the 2010 survey more than doubled over his 2009 net worth of $720 million. The 83-year-old Gokongwei holds interests in telecommunications, financial services, petrochemicals, power, and hog farming. Jaime Zobel de Ayala is the fourth richest man in the Philippines, with a net worth that rose to $1.4 billion from $1.2 billion. The CEO of Ayala Land Inc. was knocked out of third place by Gokongwei. In fifth place is Andrew Tan of Alliance Global Group. The entrepreneur has a net worth of $1.2billion from $850 million. Restaurant chain magnate Tony Tan Caktiong, who owns 1,500 Jollibee stores in the Philippines and abroad, ranks sixth with a net worth of $980 million. The seventh richest man is Enrique Razon Jr. with $975million. His International Container Terminal Services Inc. operates in nine countries, including China, Ecuador, and Philippines. Beatrice Campos, one of five Filipino women who made it to the Forbes list of richest Filipinos, has $840 million to occupy eighth place. Her year-on-year net worth grew by more than 50 percent or $430 million. George Ty, the financial tycoon, ranks ninth with $805 million. The founder of Metropolitan Bank and Trust Co. earned $290million since the previouis list. Wrapping up the 10 wealthiest Filipinos is Eduardo Cojuangco Jr., whose net worth grew by $100 million to $760million.
Source: Forbes Magazine -With MR Gavin/Pia Faustino/VS/HS, GMANews.TV