The September 2018 issue of Forbes Asia Magazine revealed the names of the wealthiest people in the Philippines.
In its annual list called “Philippines’ 50 Richest”, the said magazine named the richest people in the country based on their current net worth.
93-year-old retail tycoon Henry Sy remained at the top spot for the 11th year in a row with an estimated net worth of $18.3 billion.
Manuel “Manny” Villar climbed up from his previous rank and took the second place. Thanks to his real estate business, Villar’s net worth has ballooned to $5 billion.
Meanwhile, founder and chairman emeritus of JG Summit Holdings, Inc., John Gokongwei, Jr., placed third with $4.4 billion.
Jaime Zobel de Ayala and Enrique Razon, Jr. completed the top 5 of the said list with $4 billion and $3.9 billion, respectively.
Moreover, Jollibee founder Tony Tan Caktiong, Philippine Airlines CEO Lucio Tan, San Miguel Corporation president Ramon Ang, Metrobank chairman George Ty, and Megaworld Corporation founder Andrew Tan ranked 6th to 10th, respectively.
According to the list, Mang Inasal founder Edgar Sia, 41, who ranked 24th is the youngest person on the list with a $475 million net worth, while Filinvest Development Corp. chairman Mercedes Gotianun is the richest woman in the list ranking 17th with $1.15 billion.
To view the complete list, click here.
