MANILA Philippines- Henry Sy ranks first on the Forbes’ list of billionaires in the Philippines.
As of July 2013, the 88-year-old shopping mall tycoon continues to reign as the richest Filipino on the Forbes list of 50 richest Filipino.
“The Philippines’ richest person Henry Sy saw his fortune swell by $2.9 billion, boosted by the surge in shares of his SM Investments, the country’s most valuable company, which reported record profits of over $570 million in 2012,” Forbes website stated.
Sy’s net worth blown out from $9.1 billion in 2012 to $13.2 billion this year. Due to his wealth rate, he is now the 68th richest man in the world.
“Shares of (Sy’s) holding firm SM Investments, the country’s most valuable company, surged by over 50 percent, fuelled by reports that it may merge its property units,” Forbes said.
According to Forbes, if the total wealth of the Top 50 richest people in the Philippines will be combined, $65.8 billion or about P2.8 trillion as of July 2013 will be the outcome.
The top 10 richest Filipinos include Lucio Tan and his family with a net worth of $7.5 billion on the 2nd rank, followed by Enrique Razon, Jr. with a net worth of $4.9 billion. Completing the top 5 are Andrew Tan with a net worth of $3.95 billion and David Consunji and family with $2.8 billion.
Top 6 to 10 of richest Pinoy include George Ty and family with $2.6 billion, Lucio and Susan Co with $2 billion, Robert Coyiuto, Jr. with $1.6 billion ,Tony Tan Caktiong and family with $1.4 billion and Andrew Gotianun and family with $1.2 billion and Roberto Ongpin with $1.2 billion tied for the 10th rank.
Justine May Advincula
Leyte Normal University