Cover Artwork by Kryss Rubio
Artwork by Kryss Rubio
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We are halfway through 2021. Amid the continuous quarantine protocols to fight the pandemic, these individuals have proven that there is hope for our economy to recover.
As of writing, the Philippines is on its way to another round of extreme restrictions in mobility to contain the surge of COVID-19 cases and the threat of its stealthier new variant. Last April, the Asian Development Bank published its flagship economic publication, forecasting the country's economy to slightly recover from its deepest plunge at the onset of the year to a growth of 4.5 per cent. With our economy built around industries requiring mobility and human interaction like tourism, hospitality, and services, the upcoming Enhanced Community Quarantine in NCR might greatly affect this again. However, there is hope in businesses that have found resiliency and have been creative in adapting to our so-called "new normal".
Read More: Financial Foresight And Investment Tips From Industry Experts For 2021
We list again the current Filipino billionaires, fresh from the real-time list of Forbes, and find out more about them and their businesses.
1. Manuel Villar Jr.
Above Manuel Villar Jr. | PHOTO: Vista Land & Lifescapes Inc.
Manuel Villar Jr. | PHOTO: Vista Land & Lifescapes Inc.
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Global Ranking: #420
Net Worth: $6.8B
Former senate president and 2010 presidential candidate Manuel Villar Jr was born to an impoverished family in Manila. He started his professional career as an accountant in SGV, the country's largest accounting firm. He later resigned to start a seafood delivery business in Makati and eventually tried his luck again in the corporate business as a financial analyst for the Private Development Corporation of the Philippines. He gave that up after a while, then used his savings and loans to start a business delivering sand and gravel for construction companies.
Today, his conglomerate Villar Group of Companies include businesses in real estate, leasing, retail malls, hospitality, and education. His real estate business Vista Land & Lifescapes is present in 132 cities and municipalities and 46 provinces across the country, making it the largest homebuilder in the Philippines.
2. Enrique Razon Jr.
Above Enrique Razon | PHOTO: Forbes
Enrique Razon | PHOTO: Forbes
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Global Ranking: #523
Net Worth: $5.7B
The country's leading terminal operator is the International Container Terminal Services helmed by Enrique Razon Jr. It has operations and subsidiaries in Eastern Europe, Africa, and the Americas; it is also the pioneer and leading innovator in the field of port management.
The Razon family's port business in Manila was started in 1916 by Ricky's grandfather; the business would later be rebuilt by his father after the devastating 1945 Liberation of Manila. In Ricky's hands, the business has transformed into the global giant that it is today. Meanwhile, hospitality firm Bloomberry Resorts Co.—with Solaire Resort and Casino as its crown jewel—continues to make waves in retail, restaurant, and entertainment businesses on top of its recent five-star recognition for the Sky Tower from Forbes.
Read More: Business Leader Enrique Razon Takes A Stand Against COVID-19 In The Philippines
3. Andrew Tan
Above Andrew Tan | PHOTO: Sara Black for Tatler Philippines
Andrew Tan | PHOTO: Sara Black for Tatler Philippines
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Global Ranking: #1137
Net Worth: $2.9B
2018 Philippine Tatler Ball Diamond Awardee, Andrew Tan, chairs Alliance Global, which is involved in a wide range of industries, from food and beverage manufacturing to real estate and property development, hospitality, retail, leisure malls, and gaming entertainment. Alliance Global is also a major player in quick-service restaurants, primarily McDonald's Philippines through its subsidiary Golden Arches Development Corporation.
4. Hans Sy
Above Hans Sy | Image courtesy of the subject
Hans Sy | Image courtesy of the subject
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Global Ranking: #1264
Net Worth: $2.7B
The late SM Investments founder Henry Sy's fourth child continues to beat his siblings on the list of Philippine billionaires. He stepped down in 2016 as president of SM Prime Holdings, a subsidiary of the largest conglomerate in the country yet remains its director. He is also active as the adviser of SM Investments and serves as chairman of both China Banking Corporation and National University.
Read More: Introducing Asia's Most Influential: The Impact List 2020
5. Herbert Sy
Above Herbert Sy | PHOTO: Randolf Evan
Herbert Sy | PHOTO: Randolf Evan
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Global Ranking: #1267
Net Worth: $2.7B
Herbert Sy, second youngest of the six Sy siblings, serves as adviser of SM Investments and director of SM Prime Holdings. He is also actively involved in the SM group's supermarket operations as well as its investment arm.
6. Harley Sy
Above Harley Sy | PHOTO: SM Investments Corporation
Harley Sy | PHOTO: SM Investments Corporation
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Global Ranking: #1382
Net Worth: $2.5B
The fourth of the Sy siblings holds the position of executive director for SM Investments. The company has interests in retail, banking, property, and equity. Moreover, Harley serves as a director of China Banking Corporation and as an adviser of BDO Private Bank.
7. Henry Sy Jr.
Above Henry Sy Jr. | PHOTO: Randolf Evan
Henry Sy Jr. | PHOTO: Randolf Evan
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Global Ranking: #1382
Net Worth: $2.5B
The eldest son of the late Henry Sy serves as co-vice chairman of SM Investments and is chairman of SM Prime Holdings, the group's property development arm. They have interests in malls, residences, office spaces, hotels, and convention centres.
8. Lucio Tan
Above Lucio Tan / The Associated Press
Lucio Tan / The Associated Press
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Global Ranking: #1404
Net Worth: $2.4B
One of the country's most well-known Filipino-Chinese business moguls, Lucio Tan lands on the 8th spot on the roster. He is the founder and chairman of the LT Group, which has interests in tobacco, spirits, banking, and property development. He started as a chemical engineer at Far Eastern University, where he sidelined as a janitor to pay for his college education. In 1982, Tan established Asia Brewery. Lucio Tan's business empire also includes air transport and aviation-related support services; they also have minority ownership and management control in a sugar milling company.
9. Teresita Sy-Coson
Above Teresita Sy-Coson | PHOTO: Getty Images
Teresita Sy-Coson | PHOTO: Getty Images
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Global Ranking: #1412
Net Worth: $2.4B
One of the country's most influential female business leaders is the late Henry Sy's eldest child, Teresita Sy-Coson, who co-chairs SM Investments with brother Henry Jr. Her experience in their family business includes retail merchandising, mall development, and banking. She also serves as the chairperson of BDO Unibank.
Read More: 10 Business Women Shaping The Philippines
10. Tony Tan Caktiong & Family
Above Tony Tan Caktiong | Image courtesy of the subject
Tony Tan Caktiong | Image courtesy of the subject
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Global Ranking: #1465
Net Worth: $2.3B
Tony Tan Caktiong is the founder and chairman of Jollibee, one of the world's fastest-growing Asian restaurant chains. In 2018, it just opened its 37th store in the US not far from Times Square in New York. The quick-service restaurant chain humbly started as an ice cream shop in the '70s but grew more popular with its American diner choices. Today, Jollibee Foods Corporation also operates other restaurant franchises. With business partner Edgar Sia II, Caktiong also owns a stake in DoubleDragon Properties.
11. Ramon Ang
Above Ramon Ang | Image courtesy of the subject
Ramon Ang | Image courtesy of the subject
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Global Ranking: #1516
Net Worth: $2.2B
Ramon Ang is the president and vice chairman of one of the Philippines oldest existing conglomerates, San Miguel Corporation. Originally a major brewery company, San Miguel has become a leader in food and beverages, power, and infrastructure. Ang owns a substantial stake in Eagle Cement and Holcim Philippines, which have made tremendous growth in sales due to the county's focus on infrastructure in recent years. Having started as a car mechanic and sales agent for used Japanese cars and truck engines, Ang now sells aluminium wheels as a billionaire.
Read More: Visionary Leader Ramon Ang Talks About The Legacy He Would Like To Leave Behind
12. Elizabeth Sy
Above Elizabeth Sy | PHOTO: Randolf Evan
Elizabeth Sy | PHOTO: Randolf Evan
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Global Ranking: #1575
Net Worth: $2.1B
The late Henry Sy's second child has served as an adviser in SM Investments since 2012 and is also actively involved in the group's tourism, leisure, and hospitality operations. She is the chairperson and president of SM Hotels and Conventions. Elizabeth's journey in the business started out as an assistant at her father's first hotel business, the Manila Royal Hotel, in the 1970s.
13. Ricardo Po Sr.
Above Ricardo Po Sr. | PHOTO: Forbes
Ricardo Po Sr. | PHOTO: Forbes
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Global Ranking: #2162
Net Worth: $1.4B
In 1978, Ricardo Po Sr. founded Century Pacific, the country's premier exporter of private-label tuna products. The company also has a major stake in the fast-food chain Shakey's.
14. Roberto Ongpin
Above Roberto Ongpin | PHOTO: Celebrity Net Worth
Roberto Ongpin | PHOTO: Celebrity Net Worth
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Global Ranking: #2546
Net Worth: $1.1B
Roberto Ongpin chairs Alphaland, a high-end property developer that has built luxury villas on Balesin Island and an international airport on Patnanungan Island. Alphaland also includes top-of-the-line properties in Makati City and Baguio City.
15. Lance Gokongwei
Above Lance Gokongwei | Image courtesy of the subject
Lance Gokongwei | Image courtesy of the subject
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Global Ranking: #2571
Net Worth: $1.1B
The only son of the late John Gokongwei Jr took the reins of the JG Summit from his father. Being one of the largest conglomerates, JG Summit has interests in airlines, telecom, banking, food, power, and property. Its Robinsons Retail was started by his father as a department store in 1980 and is now one of the country's largest retailers.
Read More: The Life And Times Of Taipan And Philanthropist John Gokongwei Jnr
16. Iñigo Zobel
Above Iñigo Zobel | PHOTO: Tim Griffiths for Tatler Philippines
Iñigo Zobel | PHOTO: Tim Griffiths for Tatler Philippines
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Global Ranking: #2591
Net Worth: $1.1B
The late prolific business tycoon Enrique Zobel (cousin of current Zobel de Ayala patriarch, Jaime) left his fortune to his family, including Iñigo, his son. Zobel (Iñigo) is the chairman of Top Frontier Investment Holdings, Inc. and a director of San Miguel Corporation. He has business interests in power, investments, real estate and property. He also serves as director of the Enrique Zobel Foundation, Calatagan Golf Club, Hacienda Bigaa, MERMAC, and more.
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.
