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The COVID-19 pandemic has affected the economic landscape in 2020, resulting in a plunge to the collective wealth of the Philippines' 50 richest according to Forbes in its report last September 2020. Now we look at the real-time list and see the changes in ranks and net worths since last year
Total net worth figures are based on the Forbes' Real-Time Billionaires List and Bloomberg Billionaires Index, which is a daily ranking of the world's richest people. The ranking stated in this article is updated as of 5 March 2021.
Last May 2020, we released a list of the richest Filipino billionaires included in the initial list by Forbes. Later in September, unprecedented events happened that caused a shuffle in that list. One of these is the sudden passing of Danding Cojuangco. Another is the debut of Lance Gokongwei—the son of the late John and Elizabeth Gokongwei—to the billionaire's list together with his siblings.
Also by the second quarter of 2020, the Philippine economy suffered a major setback with 16.5 per cent drop in GDP. This led to the country's annual GDP plunge by 9.5 per cent, the worst economic growth rate since the Second World War.
Nevertheless, we have seen the resilience of our leading tycoons in the fight against COVID-19, and other causes that needed to be immediately addressed last year. Ramon Ang made headlines last 2020 for the achievements in transportation, public works, and healthcare industries. The philanthropic efforts and innovative business initiatives have been also evident in the performances of Hans Sy, Enrique Razon, Andrew Tan, and the Ayala Group of Companies, among others.
We also saw Edgar "Injap" Sia II rose to the ranks being "the biggest gainer in both percentage and dollar terms... partly due to the successful initial public offering (IPO) of his MerryMart in June", according to Forbes. In connection with that, DoubleDragon Properties Corp. becomes the second listed company in the country to offer real estate investment trust (REIT), running on the main board of Philippine Stock Exchange this March.
Read also: Introducing Asia's Most Influential: The Impact List 2020
Moreover, financial experts are positive that we will recover from the economic repercussions of the pandemic. The fiscal policies in 2020 have greatly increased the unemployment rate but still, it opened doors for medium to small enterprises and online businesses, keeping the economy afloat.
As the first quarter of 2021 approaches its end, let us take a look at the real-time list of the richest Filipinos that have made it to the Forbes' World Billionaires List, as of today.
1. #343 Manuel Villar Jr.
Above Manny Villar / Wikimedia Commons
Manny Villar / Wikimedia Commons
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NET WORTH: US$7.2 Billion
2. #57 Enrique Razon Jr.
Above Ricky Razon / Getty Images
Ricky Razon / Getty Images
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NET WORTH: US$5.0 Billion
3. #892 Lucio Tan
Above Dr. Lucio Tan, / The Associated Press
Dr. Lucio Tan, / The Associated Press
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NET WORTH: US$3.3 Billion
4. #1002 Andrew Tan
Above PHOTO: Sara Black for Tatler Philippines June 2015 cover
PHOTO: Sara Black for Tatler Philippines June 2015 cover
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NET WORTH: US$3.0 Billion
5. #1015 Hans Sy
Above Image courtesy of Hans Sy
Image courtesy of Hans Sy
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NET WORTH: US$2.9 Billion
6. #1022 Herbert Sy
Above Herbert Sy / PHOTO: Randolf Evan
Herbert Sy / PHOTO: Randolf Evan
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NET WORTH: US$2.9 Billion
7. #1122 Harley Sy
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NET WORTH: US$2.7 Billion
8. #1128 Henry Sy Jr.
Above Henry Sy Jr. / PHOTO: Randolf Evan
Henry Sy Jr. / PHOTO: Randolf Evan
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NET WORTH: US$2.7 Billion
9. #1144 Teresita Sy-Coson
Above Tessie Sy-Coson / Getty Images
Tessie Sy-Coson / Getty Images
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NET WORTH: US$2.6 Billion
10. #1259 Tony Tan Caktiong & Family
Above Image courtesy of Tony Tan Caktiong
Image courtesy of Tony Tan Caktiong
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NET WORTH: US$2.4 Billion
11. #1302 Elizabeth Sy
Above Elizabeth Sy / PHOTO: Randolf Evan
Elizabeth Sy / PHOTO: Randolf Evan
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NET WORTH: US$2.3 Billion
12. #1406 Ramon Ang
Above Image courtesy of Ramon Ang
Image courtesy of Ramon Ang
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NET WORTH: US$2.2 Billion
13. #2223 Roberto Ongpin
Above Bobby Ongpin / PHOTO: Celebrity Net Worth
Bobby Ongpin / PHOTO: Celebrity Net Worth
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NET WORTH: US$1.2 Billion
14. #2281 Ricardo Po Sr. & Family
Above Ricardo Po Sr. / PHOTO: Century Tuna
Ricardo Po Sr. / PHOTO: Century Tuna
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NET WORTH: US$1.1 Billion
15. #2294 Edgar "Injap" Sia II
Above Image courtesy of Injap Sia
Image courtesy of Injap Sia
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About
Before assuming the Art and Culture Editor position, Franz has always had a penchant for visual and performing arts. He is passionate about exploring and writing about the local cultural scene and rediscovering the country’s storied past and rich heritage. Besides working on this luxury lifestyle magazine, Franz is an avid book reader, local traveller, museum-goer, chorister, and community theatre playwright.
Work
Franz earned a degree in Journalism from the University of Santo Tomas. He writes about local visual and performing artists and their craft; drinks wines, liquors, and spirits and talks about the creativity of their respective winemakers and master blenders; tries to learn more about business and investments; respects the tradition and artistry that go behind the making of watches and jewellery; and appreciates the genius of architecture and creative design.
As head of Tatler Philippines’ pool of writers, he helps them bring impactful and socially relevant stories to light.
For any leads, you may reach him through @franzsorillaiv on Instagram or franz@tatlerphilippines.com via email.
