Forbes 2026 richest Filipinos: Enrique Razon Jr. tops list, dethrones Sy siblings

Business publication Forbes on Thursday released its list of the richest persons in the Philippines for 2026, with ports and casino magnate Enrique Razon Jr. topping the roster, taking over from the Sy siblings, heirs of retail tycoon Henry Sy Jr., as the country’s wealthiest.

In its “Philippines’ 50 Richest” list, Forbes said Razon, who got the No. 1 spot for the first time, was “unfazed by geopolitical tensions” as “he accelerated the global expansion of his listed International Container Terminal Services, which boosted its shares and helped add $10.3 billion to his fortune.”

Razon has an estimated net worth of $21.8 billion.

The Sy siblings, meanwhile, slipped to second place with their fortune reduced by $2.6 billion to $9.2 billion as shares of the group’s real estate flagship, SM Prime Holdings, fell 18% from a year ago amid a weak residential property market, according to Forbes.

San Miguel chairman and CEO Ramon Ang came in at No. 3, climbing one spot from a year ago “despite a slight drop in his net worth to $3.5 billion” as “investor concerns over the company’s debt load triggered close to a 10% fall in its shares over the year.”

Lucio and Susan Co, the couple behind Puregold Price Club, entered the top five for the first time at No. 4 with a shared fortune of $3.3 billion.

Rounding out the top five on the list are Isidro Consunji and siblings of property developer DMCI Holdings, who saw their fortune fall to $3 billion from $3.7 billion last year.

Forbes’ top 10 richest in the Philippines are as follows:

1. Enrique Razon Jr. - $21.8 billion
2. Sy siblings - $9.2 billion
3. Ramon Ang - $3.5 billion
4. Lucio and Susan Co - $3.3 billion
5. Isidro Consunji & siblings - $3 billion
6. Lucio Tan - $2.9 billion
7. Jaime Zobel de Ayala - $2.8 billion
8. Que Azcona family - $2.5 billion
9. Manuel Villar - $2.4 billion
10. Ty Siblings - $2.3 billion

Forbes said the combined net wealth of tycoons on its Philippines’ 50 richest list fell by 8% to $79 billion, from $86 billion last year.

“In the first quarter of 2026, the Philippine economy expanded 2.8%, its lowest quarterly growth rate since the pandemic. The energy shock from the Iran conflict took its toll, stoking inflation while the peso fell,” it said.

Forbes said the minimum net worth to make the list was $185 million, unchanged from last year.

“The list was compiled using shareholding and financial information obtained from the families and individuals as well as stock exchanges, analysts and other sources,” it said.

“Unlike the Forbes World’s Billionaires rankings, this list includes family fortunes, including those shared among extended families,” it added.

Forbes said the net worths are based on stock prices and exchange rates as of the close of markets on July 17, 2026. –NB, GMA News