Monday, August 22, 2011

The Philippines' 40 Richest for 2011

Year 2011 is definitely a bull market for my fellow Filipinos. With inflation rate of 4.5% in June 2011, our Philippine Peso still managed to be strong - Php42.76 (July 11, 2011). It's a major, major thanks ;) to our OFW heroes and our current government.

And as the list of Philippines' 40 richest for 2011 was disseminated by Forbes, two names captured my interest. A consistent biggest gainer in Philippine economy, Henry Sy managed to stay in #1 rank. And surprisingly, a new face join in the circle, an inspiring fellow from Roxas City, Capiz – Edgardo Sia II (Thanks to a jolly-busy-bee, “Jollibee”).

Here's the complete list of 40 Richest in the country:
1. Henry Sy
a. Net Worth = $7.2 B
b. Age = 86
c. Source = diversified
From the modest shoe store, Mr. Sy becomes the Asia’s biggest shopping mall operator. His business interests include SM Investments Corporation (SMIC), SM Prime Holdings, Banco de Oro Universal Bank (BDO), Belle Corporation, Highlands Prime, China Banking Corporation, SM Development Corporation (SMDC), etc.

2. Lucio Tan
a. Net Worth = $2.8 B
b. Age = 77
c. Source = diversified
A known ally of former President Ferdinand Marcos, Mr. Tan is one of the prominent magnates not only in the Philippines but in China/Macau/US as well. His business interests include Asia Brewery, Tanduay Holdings, Fortune Tobacco, Philippine Airlines, University of the East, Philippine National Bank, Allied Bank, (Hong Kong based) Eton Properties, Allied Savings Bank, Autonomous Jeep Organization, etc.

3. John Gokongwei Jr.
a. Net Worth = $2.4 B
b. Age = 83
c. Source = diversified
Mr. Gokongwei is a Chinese Filipino businessman born in China. His business interests include JG Summit Holdings, Cebu Pacific Air, UIC (Singapore), Universal Robina Corporation, etc.

4. Andrew Tan
a. Net Worth = $2.0 B
b. Age = 58
c. Source = diversified
A simple immigrant from China who studied accounting at University of the East, Mr. Tan is now at 4th richest businessman of the country. His business interests include Alliance Global Group (Megaworld Corporation, Emperador Distillers Incorporation, Golden Arches and Development Corporation -franchise of McDonald’s), etc.

5. David Consunji
a. Net Worth = $1.9 B
b. Age = 90
c. Source = construction
A former concrete inspector is now at 5th richest as he expanded his business into infrastructure, real estate, mining and power. One of his business interests is DMCI Holdings, which is now managed by his own son.

6. Jaime Zobel de Ayala
a. Net Worth = $1.7 B
b. Age = 77
c. Source = diversified
The chairman emeritus of Ayala Corporation was ranked as the richest man in 2007 (tied with Henry Sy, see #1 above).

7. Enrique Razon Jr.
a. Net Worth = $1.6 B
b. Age = 51
c. Source = ports
“Port operator who controls listed International Container Terminal Services is the Philippines' youngest billionaire.”-Forbes

8. Eduardo Cojuangco Jr.
a. Net Worth = $1.4 B
b. Age = 76
c. Source = food & drinks
Known as Danding Cojuangco, he is most prominent not only in business but also in politics (run Philippine presidency in 1992 and Uncle of the current president, Pres. Noynoy Aquino) and showbiz (His partner is a known actress, Gretchen Barretto). His business interests include San Miguel Corporation, Bank of Commerce, United Coconut Planters Bank, Del Monte Philippines, Agricultural estates, etc.

9. Roberto Ongpin
a. Net Worth = $1.3 B
b. Age = 74
c. Source = diversified
Mr. Ongpin is a former minister of Trade and Industry for the Philippine Government from 1979 to 1986. His business interests include primarily the Atok Big-Wedge Co., a mining company that produces gold and silver (byproduct) and Top Frontier, an investment firm.

10. George Ty
a. Net Worth = $1.1 B
b. Age = 78
c. Source = banking
He is a self-starter who become an adviser in various firms (Investments, Banks, etc.) and a business tycoon. His business interests include Metrobank (largest bank in the Philippines), Bank of the Philippine Islands, Philippine Savings Bank, G.T. International Tower, etc.

11. Tony Tan Caktiong
a. Net Worth = $1.0 B
b. Age = 58
c. Source = fast food
From the ice cream parlor business, Mr. Caktiong is now in the circle of billionaires for the first time. His business interests include Joliibee, Red Ribbon, Chowking, Greenwich, etc.

12. Inigo & Mercedes Zobel
a. Net Worth = $1.0 B
b. Age = 58
c. Source = fast food
Cousins of Jaime Zobel de Ayala (see above #6) has the accumulated wealth not just from their inheritance in Ayala Corporation but also from their investments in San Miguel Corporation thru their firm, Top Frontier.

13. Emilio Yap = $930 M
14. Andrew Gotianun = $795 M
15. Jon Ramon Aboitiz = $760 M
16. Beatrice Campos = $685 M
17. Manuel Villar = $620 M
18. Vivian Que Azxona = $555 M
19. Robert Coyiuto Jr. = $400 M
20. Mariano Tan = $375 M
21. Alfonso Yuchengco = $370 M
22. Enrique Aboitiz = $310 M
23. Oscar Lopez = $280 M
24. Jose Antonio = $245 M
25. Eric Recto = $200 M
26. Gilbert Duavit = $190 M
27. Menardo Jimenez = $185 M
28. Alfredo Ramos = $180 M
29. Betty Ang = $165 M
30. Felipe Gozon = $163 M
31. Tomas Alcantara = $160 M
32. Benjamin Romualdez = $155 M
33. Wilfred Uytengsu = $150 M
34. Manuel Zamora Jr. = $145 M
35. Jacinto Ng Sr. = $115 M
36. Frederick Dy = $110 M
37. Luis Virata = $100 M
38. Bienvenido Tantoco Sr. = $95 M
39. Eugenio Lopez III = $90 M
40. Edgar Sia II = $85 M

Mr. Sia is also known as Injap (Intsik-Japan) who grew up in Roxas City, Capiz and studied in Iloilo City. He founded Mang Inasal and sold 70% of it to Jollibee Corporation in October 2010. This is the major factor of his debut on Philippines’ 40 richest and become the youngest on the list, also.

Finally, I fervently hope that in the next few years or decade, I can also read a familiar name (family/friend) if not my own ;) in this list.

Source: Forbes

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