10 Richest Filipino Billionaires In 2021 According To Forbes: Sy Siblings, Manny Villar, And More
- Sy SiblingsSy Siblings
- Manuel "Manny" Villar Jr.Manuel "Manny" Villar Jr.
- Enrique RazonEnrique Razon
- Lance Gokongwei and SiblingsLance Gokongwei and Siblings
- Jaime Zobel de AyalaJaime Zobel de Ayala
- Dennis Anthony & Maria Grace UyDennis Anthony & Maria Grace Uy
- Tony Tan CaktiongTony Tan Caktiong
- Andrew TanAndrew Tan
- Ramon AngRamon Ang
- Ty SiblingsTy Siblings
The wealth of tycoons listed in Forbes' Richest Filipino list collectively skyrocketed to 30 per cent in 2021. Read on to see the complete list
Despite the COVID-19 lockdowns raised in the country, Filipino tycoons listed under Forbes’ Philippines’ 50 Richest had cumulative wealth growth of 30 per cent to US$79 billion. The list is led by the Sy siblings who added US$2.7 billion to remain at the top spot, which totals at US$16.6 billion. The top spot is immediately followed by entrepreneur Manuel "Manny" Villar Jr. who had a US$1.7 billion to US$6.7 billion net worth increase.
The second quarter of 2021 had a double-digit growth with four tycoons adding over US$1 billion each to their net worth. According to Forbes, the list was compiled using only the shareholding and financial information acquired from the families and individuals, stock exchanges, analysts, and other data.
Unlike its billionaire rankings, Forbes has taken into consideration the family fortunes, even those shared among extended relatives. Net worths are based on stock prices and exchange rates as of the close of markets on August 20, 2021. Meanwhile, private companies were valued based on similar companies that are publicly traded.
Listed below are people who made it to top 10:
The six Sy siblings, Teresita, Elizabeth, Henry Jr., Hans, Herbert, and Harley, have inherited their fortune from their late father Henry Sy Sr., founder of SM Investments. The family's combined net worth is largely comprised of stakes held in the group's publicly traded SM Investments and SM Prime.
In the second quarter of 2021, the siblings accumulated US$2.7 billion, placing them on the top list with a total net worth of US$16.6 billion.
Manuel "Manny" Villar Jr.
Former senator and presidential candidate Manuel "Manny" Villar Jr. is still the country's richest individual to date with a net worth of US$6.7 billion. He currently chairs property developer Vista Land & Lifescapes. The property magnate's biggest asset is his stake in Golden MV Holdings (formerly Golden Bria), a developer of mass housing projects and condos. He also chairs mall operator Vista malls and AllHome.
For the second quarter of 2021, Villar saw his net worth increase from US$1.7 billion to US$6.7 billion.
Enrique Razon placed third on the list after his net worth jumped from US$1.5 billion to US$5.8 billion. As of this writing, Razon chairs the International Container Terminal Services (ICTSI), the Philippines' leading ports operator. The company also has subsidiaries in the Asia-Pacific region, Eastern Europe, and United States.
Razon's fortune can be traced back to his grandfather's 1916 port business in Manila.
Lance Gokongwei and Siblings
Fourth on the list is Lance Gokongwei and his siblings Robina, Lisa, Faith, Marcia, and Hope. The Gokongwei siblings have inherited their fortune from their late father John Gokongwei Jr. Lance and his siblings' combined fortune stemmed from JG Summit, one of the country's largest conglomerates. The company has interests in airlines, food, power and property, banking, and telecom.
Lance is currently the chief executive of JG Summit, while his older sister Robina is the chief executive of Robinson Retail.
Jaime Zobel de Ayala
Jaime Zobel de Ayala ranked fifth with his US$3.3 billion net worth. He is the chair of his family's Ayala Group until 2006 when his son, Jaime Augusto, took over. Today, Jaime's seven children hold more than one-third of the US$3.9 billion conglomerate. Their wealth can be traced to Jaime's grandfather who started a distillery in Manila and expanded the business to banking, telecom, hotels, education, and real estate.
Dennis Anthony & Maria Grace Uy
The Initial Public Offering (IPO) of Converge ICT Solutions has catapulted billionaire couple Dennis Anthony and Maria Grace Uy to the sixth spot with a net worth of US$2.8 billion. In 2019, New York private equity firm called Warburg Pincus invested US$250 million in Converge to help with the company's rollout and infrastructure goals. The couple took the company public in 2020, raising more than US$500 million, the country's largest IPO in years.
Today, more than six million homes in over 200 cities and municipalities in Luzon are users of Converge ICT's fixed broadband.
Tony Tan Caktiong
Tony Tan Caktiong placed seventh with a US$2.7 billion net worth; he is the founder and chairman of Jollibee, one of Asia's fastest-growing food chains. As of this writing, the restaurant caters to more than 3,000 locations in the Philippines and over 2,500 branches overseas.
Jollibee is arguably the most famous fast-food chain in the Philippines since it was founded in the late 1970s. Among its best-selling dishes is Chicken Joy, a sweet, crispy fried chicken that captivated the appetite of Filipinos in different generations. Because of the restaurant's supporters, it was able to withstand the international chain McDonald's entry to the Philippines in 1981.
More from Tatler: Jollibee, Mary Grace, And More: 9 Filipino-Owned Restaurant Chains
In eighth place is Andrew Tan with a US$2.7 billion net worth. He is the chair of Alliance Global Holding, a company with interests in food and beverage, gaming, and real estate. Tan is a son of a factory worker; he built his wealth through the development of large apartment complexes around Metro Manila.
The Alliance Global Holding runs Emperador, the world's largest brandy company by sales volume.
The ninth spot was reserved for Ramon Ang who accumulated US$2.3 billion net worth. Ang is the president and the vice-chairman of San Miguel, one of the country's oldest-running conglomerates. According to Forbes, the bulk of San Miguel's revenue comes from power and infrastructure businesses.
Ang also owns a substantial stake in Eagle Cement Corp., a fully integrated company primarily engaged in the business of manufacturing, marketing, sale, and distribution of cement under the brands Advance Type 1P, Exceed Type 1P and Strongcem Type 1.
The Ty siblings Arthur, Alfred, Alesandra, and Anjanette, are children of late banking tycoon, George Ty, who founded Metrobank in 1963. All of them earned the tenth spot with their US$2.2 billion wealth. Their earnings can be traced to GT Capital, one of the biggest conglomerates in the country with interests in banking, auto, property development, power generation, and insurance.
They have also amassed their wealth from stakes in the publicly listed GT Capital and Metropolitan Bank Trust.