Shopping and retail tycoon Henry Sy was declared as the richest person in the Philippines for the tenth straight year according to rankings released by Forbes Magazine on Thursday.
Sy currently has a net worth of $20 billion (P1 trillion), nearly doubling his last year’s his net worth of $12.7 billion.
The 93-year-old business magnate was the biggest gainer on dollar terms and also ranked 52nd among 2,208 billionaires in the world.
Sy is the chairman of SM Investments Corporation, Philippines’ largest retail company. The company has businesses in the retail, baking, and property industries.
John Gokongwei of the JG Summit group ranked the 2nd richest in the Philippines with $5.8 billion (P301.54 billion) while Enrique Razon Jr. ranked 3rd with total net worth of $4.9 B (P 254.75 billion).
Meanwhile, Jeff Bezos of electronic commerce company Amazon was declared as the richest man in the world with a net worth of $112 billion or P5.8 trillion.
Bezos snatched the spot from last year’s richest Bill Gates who reported a net worth of $90 billion or P 4.68 trillion this year.
Asia Pacific had the most number of billionaires in the list with 827 while United States came in second with 585.
