The Philippines is one of the world’s developing markets. With over 108 million people, the nation is also fortunate to have one of the youngest populations in South East Asia.
The Philippines has an annual estimate for GDP growth of 6.2 percent in 2021, according to the World Bank. Economic development is boosted by the rising middle class, young people, substantial remittances, and robust companies in the Philippines.
15 of the World’s Billionaires List come from the Philippines, according to Forbes. In the Philippines, let’s get to know the 25 richest individuals.
Top 25 Philippines’ Wealthiest People:
- Sy Siblings
- Manuel Villar
- Enrique Razon, Jr.
- Lance Gokongwei & Siblings
- Jaime Zobel de Ayala
- Andrew Tan
- Lucio Tan
- Ramon Ang
- Tony Tan Caktiong
- Lucio and Susan Co
- Mercedes Gotianun
- Ty Siblings
- Vivian Que Azcona & Siblings
- Isidro Consunji & Siblings
- Roberto Ongpin
- Soledad Oppen-Cojuangco
- Ricardo Po, Sr.
- Inigo Zobel
- William Belo
- Robert Coyiuto, Jr.
- Edgar Sia II
- Dennis Uy
- Campos Siblings
- Dean Lao
- Jacinto Ng
1. Sy Brothers (13.9 billion dollars)
Of the wealthiest citizens in the Philippines, the number one spot belongs to the children of the late tycoon, Henry Sy. Teresita, Elizabeth, Henry Jr., Hans, Herbert, and Harley are all here.
From a modest beginning, Henry Sy Sr. founded ShoeMart in 1958, which was built into SM Investments over the years. SM Investments has grown its sector and is now one of the Philippines’ leading conglomerates, providing investments in retail, property, finance, and equity.
SM Party of Enterprises:
One of the most profitable sectors in the world is the retail sector. In strategic and high-traffic areas, SM Group diversifies its retail sector through a store network with The SM Store, Savemore, SM Hypermarket, SM Warehouse, Alfamart, WalterMart, and Specialty Shops.
SM Prime Holdings, Inc. oversees the SM Group’s property company division. In the Philippines, SM Prime is now the biggest mall developer. In the world, SM has 74 malls and 7 in China. Last year, the business posted sales of P46.43 billion.
SM Investment Inc. has significant BDO and China Bank shareholdings. In terms of market capitalization, BDO is the biggest bank in the Philippines, and AUM (Asset Under Management). China Bank is also one of the country’s oldest developed institutions, dated from 1920.
Investments of Bonds
A giant business like SM proceeds to grow projects and shape alliances. Equity interests in Belle Company, 2Go Group, Atlas Mining, Goldilocks, GrabPay, CityMall, Neo Subsidiaries, Neo Associates, and Philippine Urban Living Solutions are included in its portfolio.
2. ($5 billion) Manuel Villar
Manuel Villar is a self-made billionaire and the wealthiest Filipino at the time. He is the Chairman of Vista Center, one of the Philippines’ biggest mall owners, Vista Land & Landscapes, the nation’s largest homebuilder, and AllHome, the first one-stop home improvement store in the Philippines.
Manny Villar is the only one lacking Chinese or Spanish blood on the Forbes List of Billionaires in 2020, according to the South China Morning Post.
3. ($4.3 billion) Enrique Razon, Jr.
The Chairman of Foreign Container Terminal Services, Inc., the Philippines’ largest terminal operator, is Enrique Razon, Jr. In 19 nations around the globe, ICTSI also runs port services. In Asia Pacific, Europe, the Middle East, Africa and the Americas, the organization has 32 terminals.
Most of the strongest blue-chip stocks on the Philippine Stock Exchange is owned by International Container Terminal Services (ICT). It has a market capitalization of over 257 billion. The second wealthiest individual in the Philippines is Enrique Razon, Jr. (among the list of billionaires).
4. ($4.1 billion) Lance Gokongwei & Siblings
The daughters of late magnate John Gokongwei Jr. became the second richest citizens in the Philippines. Lance, Robina, Lisa, Confidence, Hope, and Marcia are all of them.
Their money comes from their massive stakes in JG Summit, one of the Philippines’ oldest and most diversified conglomerates. Their businesses include strong corporations such as Universal Robina Company, Cebu Pacific Air, JG Summit Petrochemicals, Robinsons Land Corporation, and Robinsons Bank.
5. Jaime de Ayala Zobel ($3.6 billion)
In 2021, Jaime Zobel de Ayala is the fifth of the 50 Wealthiest Philippines ranks. Until 2006, when his son Jaime II took over, he was the Chairman of Ayala Company. The Ayala Company is the largest and one of the Philippines’ gigantic conglomerates.
The Ayala Group’s main industries are real estate, finance, telecommunications, and oil. In addition, various sectors are also active, including power, industrial technology, utilities, schooling, and health.
Ayala Corp. holds a major interest in Ayala Property, Globe Telecom, Bank of the Philippine Islands (BPI), and AC Energy and Infrastructure. The giant company has a market value of over 517 billion and is listed in the benchmark index of the Philippine Stock Exchange, the PSEI.
6. Andrew Tan (2.3 billion US dollars)
Andrew Tan is the Chairman of the Board of Alliance Global, another Philippines-based giant holding firm involved in the food and beverage, real estate, travel, entertainment and gaming facilities and fast-service restaurant sector.
The branches of Alliance Global include Megaworld, Travellers International, Emperador, Inc., and Golden Arches Production Company, which in the Philippines owns the McDonald’s master franchise.
7. Lucio Tan (2.2 billion US dollars)
The founder and Chairman of the LT Company, a diversified collection of consumer-focused firms, is Lucio Tan. He also has considerable control of Philippine Airlines, the Philippines’ flag carrier.
The LT Group of companies comprises Asia Brewery, one of the country’s largest beer groups, Philippine National Bank, one of the largest banks, Eton Assets Philippines, a major tobacco producer in the region, real estate residential properties, high-rise and mid-rise condominiums, BPO office towers, and business centers, PMFTC, Inc.
8. Ramon Ang 2 billion dollars)
Ramon Ang is the Vice Chairman, President and Chief Executive Officer of one of the Philippines’ biggest conglomerates, San Miguel Company. San Miguel Company is involved in the areas of drinks, food processing, fuel and energy, electricity and infrastructure. San Miguel manufactures the country’s best-selling beer.
The President and CEO of Top Frontier Investment Holdings Inc. and Petron Corporation are both Ramon Ang. The billionaire is now Eagle Cement’s Chairman of the Board.
9. ($1.9 billion) Tony Tan Caktiong
Tony Tan Caktiong is the creator and president of Jollibee Food Company, the biggest food service network in the Philippines and also one of the fastest-growing food chains in the world.
Jollibee Food Corp. includes Chowking, Greenwich, Red Ribbon, Mang Inasal, Burger King, Hard Rock Café, Dunkin Donuts, Tim Ho Wan Highlands Coffee, and several others, including famous branches and affiliates.
In terms of market value, Tony Tan Caktiong is also a big shareholder of Double Dragon Assets Corp., one of the Philippine Stock Exchange’s largest listed firms.
10. Lucio and Susan Co ($1.7 billion, respectively)
Lucio and Susan Co co-founded Puregold Price Club, one of the Philippines’ fastest-growing retail chains. Cosco Capital, which controls Puregold and S&R Membership Shopping, has a major interest in the rich pair.
Cosco Money is active in the sectors of retail, liquor distribution, industrial real estate, oil, and minerals.
11. Gotianun Mercedes ($1.5 billion)
Mercedes Gotianun is the Chairman Emeritus of Filinvest Development Company, one of the largest real estate, finance, financial services, energy, sugar and infrastructure conglomerates in the world.
Filinvest Property, East West Bank, FDC Utilities, and Pacific Sugar Holdings Company are part of their diversified portfolio.
12. Ty Siblings (1.4 billion dollars)
The Ty Siblings inherited their fortune from their late dad, George Ty, the promoter of one of the most successful banks in the Philippines, Metrobank. Arthur, Alfred, Alesandra, and Anjanette belong to the Ty siblings.
The siblings have big investments in GT Capital and Metrobank, which are among the Philippines’ strongest blue-chip firms in 2021.
13. ($1.34 billion) Vivian Que Azcona & Siblings
The president of Mercury Medication Company is Vivian Que Azcona. With over 1,200 outlets nationally, Mercury Medicine is the most trusted pharmacy in the Philippines and the biggest drugstore chain. Vivian Que and her siblings own large Mercury Medication Corporation stakes.
14. b($1.3 billion) Isidro Consunji & Siblings
Isidro Consunji is the Chairman and President of one of the major land construction companies in the Philippines, DMCI Holdings. Their fortune was inherited from their late parent, David Consunji, by Isidro and his siblings, Josefa, Jorge, Luz, Maria Cristina and Maria Edwina.
There are major subsidiaries of DMCI Holdings, including DM Consunji, Inc., DMCI Project Developers, Inc. DMCI Power Company, Semirara Mines and Power Corporation, and DMCI Mining Corporation.
15. ($1.2 billion) Roberto Ongpin
A top-of-the-line and high-end property developer in the Philippines, Roberto Ongpin is the Chairman and CEO of Alphaland Company. Balesin Island Club, Alphaland Baguio Mountain Lodges, Alphaland Makati Place, The City Club, The Alpha Suites, Alphaland Aviation, and Alphaland Corporate Tower are amongst their prestigious ventures.
16. ($1.15 billion) Soledad Oppen-Cojuancgo
Together with her children, Soledad Oppen-Cojuangco inherited their fortune from the late tycoon, Eduardo Cojuangco. San Miguel Company, one of the country’s leading conglomerates in the food and beverage, packaging, real estate, telecommunications, oil production, electricity and energy industries, has significant control.
17. Ricardo Po, Sr. & relatives (1 billion dollars)
Ricardo Po, Sr. is the Promoter and Chairman Emeritus of one of the Philippines’ leading branded food firms, Century Pacific Food, Inc. The Executive Chairman is his uncle, Christopher, and the President and CEO is Teodoro Alexander.
Century Tuna, Argentina, 555, Fast, Birch Tree, Angel, Blu Bay, Hunts, and several others are among the company’s popular products. They also own shares in Shakey’s Pizza, Arthaland, Pacific Meat Company, and Yoshinoya.
18. ($990 million) Inigo Zobel
Inigo Zobel is the Chairman of Top Frontier Investment Holdings, Inc. and a San Miguel Company Board Member. He is a nephew of Jaime Zobel de Ayala, one of the Billionaires of the Philippines. Inigo has an interest in Ayala Company, Forbes has recorded.
19. William Belo (900 Million Dollars)
William Belo is the Chairman Emeritus of Wilcon Depot, the Philippines’ largest supplier of home renovation and building materials. The business currently has 61 nationally running shops.
20. ($890 Million) Robert Coyiuto, Jr.
The Chairman of Prudential Guarantee and Assurance, Inc., one of the largest non-life insurance firms in the Philippines, is Robert Coyiuto, Jr. He is also the President of PGA Vehicles, an exclusive importer and dealer in the Philippines of luxury cars such as Porsche, Audi, Lamborghini, and Bentley.
21. (700 million dollars) Edgar Sia II
Edgar Sia II is the Chairman and CEO of a fast-growing real estate developer in the Philippines, Double Dragon Properties Corporation, and a booming retail chain, MerryMart. He is the founder of Mang Inasal, which Jollibee Foods Corp. later purchased.
22. Dennis Uy (650 million US dollars)
Dennis Uy is Udenna Corporation’s founder, chairman and CEO, a thriving conglomerate diversified in the fields of property growth, energy, transportation, logistics, education, food, gaming, tourism, infrastructure and telecommunications.
23. ($600 million) Campos Siblings
The majority stake in Unilab, one of the Philippines’ biggest pharmaceutical firms, is held by Jocelyn, Joselito, and Jeffrey Campos. Unilab, which goes back to 1945, produces and sells healthcare goods and drugs expressly made for Filipinos.
24. Dean Lao ($500,000,000)
Dean Lao is the Co-Founder and Chairman Emeritus of the holding firm, D&L Industries, Inc. It is involved in the customization, production and produce of food materials, dyes, additives, plastic manufactured polymers, aerosol materials, oleochemicals, resins and powder coatings.
25. Jacinto Ng (490 Million dollars)
Jacinto Ng is the founder of the Republic Biscuit Company (Rebisco), one of the Philippines’ leading global snack food industries. Rebisco owns the highest interest in AUB (Asia United Bank).