The wealth of the 50 richest Filipinos has grown by 30 percent to reach $79 billion (around P3.9 trillion) during the COVID-19 pandemic.
A list from the 2021 Forbes’ Philippines Rich List showed.
Those in the top 10 in the 2021 Forbes’ Philippines Rich List are Sy siblings – $16.6 billion, Manuel Villar – $6.7 billion, Enrique Razon Jr. – $5.8 billion, Lance Gokongwei and siblings – $4 billion, Jaime Zobel de Ayala – $3.3 billion, Dennis Anthony and Maria Grace Uy – $2.8 billion, Tony Tan Caktiong – $2.7 billion, Andrew Tan – $2.6 billion, Ramon Ang – $2.3 billion and Ty siblings – $2.2 billion.
Sy siblings of SM are still the richest in the Philippines and collectively earned $2.7 billion more in 2021 that pushed their total net worth to $16.6 billion.
Also, property magnate Manuel Villar retains second place with a net worth of $6.7 billion and is the country’s richest individual.
Taking control of Manila Water, ports and gaming tycoon Enrique Razon Jr has earned the third spot with $5.8 billion.
Betty Ang, co-founder and president of Monde Nissin, was the top gainer after her company went public. Her wealth saw a seven-fold jump to $1.4 billion, making her the 18th richest Filipino while the initial public offering of Converge ICT Solutions propelled Dennis Anthony and Maria Grace Uy to the sixth spot with a net worth of $2.8 billion.
As many as eight newcomers joined the list in 2021, including Luis Yu Jr. and Mariano Martinez Jr., owners of low-cost home builder 8990 Holdings.
Benedicto and Teresita Yujuico also joined the country’s wealthiest, after reaping the riches from the listing of DDMP REIT.
However, more than a dozen billionaires saw their wealth drop. The wealth of Lucio Tan fell to the 12th spot from the third spot, as Philippine Airlines filed for bankruptcy.
