advertisement
Filtered By: Money
Money

Villar leads 15 Filipinos on Forbes 2020 World's Billionaires List


Fifteen tycoons from the Philippines were included in the Forbes' Billionaires 2020 List, led by former Senator Manuel Villar who climbed up the list after growing his net worth to $5.6 billion.

According to Forbes, this year's list was made up of 2,095 across the globe, 58 fewer than those recorded in 2019, and 226 fewer than just 12 days earlier before March 18 when the list was finalized.

"The richest people on Earth are not immune to the coronavirus. As the pandemic tightened its grip on Europe and America, global equity markets imploded, tanking many fortunes," Forbes said in its write-up.

For this year, Manuel Villar led the Filipinos in the list, after climbing up 31 notches to reach the 286th rank on the global list. He was 317th last year.

Villar's businesses include AllHome Corp., Golden Haven Inc., Starmalls Inc., Vista Land & Lifescapes Inc., all of which listed on the Philippine Stock Exchange.

His wife, Cynthia, is an incumbent senator, while his daughter, Camille, is a member of the House of Representatives.  His son, Mark, is the Secretary of the Department of Public Works and Highways.

This is the second consecutive year that Villar topped the list, after the passing of SM Group's Henry Sy, Sr. in 2019.

The Filipinos in this year's list are the following:

-Manuel Villar ($5.6 billion)

-Enrique Razon Jr. ($3.4 billion)
Ranked 565th on the global list, Razon chairs port operator International Container Terminal Services Inc. (ICTSI), and Solaire Resort & Casino operator Bloomberry Resorts Corp., both publicly listed companies.

-Hans Sy ($2 billion)
Ranked 1,063rd, he is the fourth child of Henry Sy, the late found of SM Investments Corp. (SMIC). He stepped down as president of SM Prime Holdings Inc. in 2016, where he remains a director.

-Herbert Sy ($2.2 billion)
Tied at 1,063rd, he is also the son of the late SM founder. He serves as an adviser of conglomerate SM Investments Corp. (SMIC), and a director of SM Prime Holdings Inc. (SMPH)

-Harley Sy ($1.9 billion)
Ranked 1,135th, he is also a son of the late Henry Sy, Sr. He currently serves as an executive director of SM Investments, a director of China Banking Corp., and an adviser of BDO Private Bank.

-Henry Sy, Jr. ($1.9 billion)
Also ranked 1,135th, he is the eldest son of Henry Sy, Sr. He serves as co-vice chairman of SM Investments, chairman of SM Prime.  He also set up Big Boss Cement in 2017.

-Andrew Tan ($1.9 billion)
Tan is also ranked 1,135th on the global list. He chairs Alliance Global Inc., a holding company with interests in food and beverage, gaming, and real estate which counts as brands McDonald's Philippines and Emperador.

-Teresita Sy-Coson ($1.8 billion)
Ranked 1,196th, Coson is the eldest child and first daughter of the SM Group's founder. She is co-chairman of SM Investments, and chairperson of BDO Unibank Inc.

-Roberto Ongpin ($1.7 billion)
Ranked 1,267th, Ongpin chairs high-end property developer Alphaland Corp, along with several other businesses. He also developed the luxury resort Balesin Island.

-Lucio Tan ($1.7 billion)
Also ranked 1,267th, Tan is the founder and chair of the LT Group, which has interests in tobacco, spirits, banking, and property development.

-Tony Tan Caktiong and family ($1.7 billion)
Also ranked 1,267th, Caktiong is the founder and chairman of Jollibee Foods Corp., one of the fastest-growing restaurant chains across the globe.

-Elizabeth Sy ($1.6 billion)
Ranked 1,335th, Sy is the second child and daughter of the late SM founder. She is an adviser of SM Investments, a post she has held since 2012.

-Ramon Ang ($1.4 billion)
Ranked 1,513th, Ang is the president and vice chairman of diversified conglomerate San Miguel Corp.

-Robert Coyiuto, Jr.($1.4 billion)
Tied at 1,513th place, he is the chairman and chief executive officer of the privately held Prudential Guarantee & Assurance. He also owns a 30% stake in the National Grid Corporation of the Philippines (NGCP).

-Eduardo Cojuangco ($1 billion)
Ranked at 1,990th, Cojuangco chairs diversified conglomerate San Miguel Corp.

This year's list was topped by Amazon's Jeff Bezos, who has kept the position for the third consecutive year despite giving $36 billion worth of his stock to ex-wife Mackenzie Bezos as part of their divorce settlement.

He is estimated to be worth $113 billion, buoyed by a 15% rise in the shares of Amazon since 2019. —LDF, GMA News

LOADING CONTENT