The global economic slowdown in recent months has caused Forbes to come up with a smaller number of world billionaires for its annual list. Finalised last 18 March, here are the 15 Filipino billionaires who have made the cut

The temporary community quarantines and lockdowns in major financial capitals and countries brought about by the Covid-19 pandemic have made the world suffer a major economic setback. In this year's Forbes World's Billionaires List, 15 were from the Philippines, a drop by two counts from last year's. 

Compared to the 2019 list, the Sy siblings who altogether held the top spot with US$17.2 billion net worth were now put in the list individually after the passing of family patriarch Henry Sy. This led to real estate magnate Manny Villar clinching the top spot again, but this time, a billion US dollars short of his net worth in 2019.

Nevertheless, most of the country's richest business leaders have aggressively turned to philanthropic and humanitarian efforts as seen in the past weeks to address the rising concerns and needs of the country.

Read also: Filipinos Leading The Fight Against Covid-19

Get to know more the 15 Filipino billionaires who have made to the annual Forbes list:

#286 Manuel Villar Jr., Villar Group of Companies


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.

#565 Enrique Razon Jr., International Container Port Terminal Services Inc and Bloomberry Resort Corp


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.

#1063 Hans Sy, SM Prime Holdings


The late SM Investments founder Henry Sy's fourth child tops his siblings on the list of Philippine billionaires of 2020. He recently 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.

#1063 Herbert Sy, SM Prime Holdings

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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.

#1135 Harley Sy, SM Investments Corporation


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.

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#1135 Henry Sy Jr., SM Prime Holdings


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.

#1135 Andrew Tan, Alliance Global Group


2018 Philippine Tatler Ball Diamond Awardee, Andrew Tan, chairs Alliance Global, a holding company with interests in food and beverage, gaming, and real estate. It owns the McDonald's franchise in the country as well as brandy company, Emperador, which holds an astonishing list of liquors and spirits.

#1196 Teresita Sy-Coson, BDO Unibank & SM Investments Corp.


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.

See also: 10 Business Women Shaping the Philippines

#1267 Roberto Ongpin, Alphaland

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Above Photo: Celebrity Net Worth


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.

#1267 Lucio Tan Sr., LT Group


One of the country's Filipino-Chinese business moguls, Lucio Tan lands on the 10th spot of 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 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.

#1267 Tony Tan Caktiong & Family, Jollibee Foods Corp.


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. 

#1335 Elizabeth Sy, SM Hotels and Conventions Corp.


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.

#1513 Ramon Ang, San Miguel Corp.


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 aluminum wheels as a billionaire.

#1513 Robert Coyiuto Jr., Coyiuto Group of Companies


Robert Coyiuto is the chairman and CEO of the privately held Prudential Guarantee & Assurance, one of the country's largest non-life insurance companies. He also owns a 30 per cent stake in the privately held National Grid and a stake in publicly listed Oriental Petroleum & Minerals. He owns PGA Cars, a local distributor of luxury car brands such as Audi and Bentley.

#1990 Eduardo Cojuangco Jr., San Miguel Corp.


Danding Cojuangco, as he was more popularly known, came from an illustrious clan that has influenced both business and politics in the country. He owns a private cement manufacturing business and is also invested in orchards, stud farms, and wineries in Australia. Together with Ramon Ang, he helms San Miguel Corporation as chairman of the board and CEO.

Read more: Get To Know The Philippines' Top Conglomerates

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