The heirs of the late mall magnate Henry Sy Sr. are once again on top of the “Philippines’ Richest” list released by Forbes magazine for 2022. The Sy siblings were also first on the list in 2021, with a net worth of $16.6 billion. This year, in the Forbes report released on 10 August, their net worth is down to $12.6 billion, due to “the pressures of inflation, rising commodity and energy prices as well as reduced exports to China,” which, according to Forbes, “dragged the benchmark stock index down 6% from 11 months ago when fortunes were last measured.”
“The peso also plunged 12% over the same period,” Forbes noted. “As a result, the combined wealth of the country’s 50 richest dropped to $72 billion from $79 billion last year.”
Second on the list is former senator and real estate billionaire Manny Villar, with a net worth of $7.8 billion. He is “this year’s biggest dollar gainer,” said Forbes in a press release announcing the 2022 list. “Villar, who is revving up the development of high-rise condos, townships and a casino, added $1.1 billion and remains at No. 2…” Villar appears on the cover of the August issue of Forbes Asia.
Ports tycoon Enrique Razon is third on the list, with $5.6 billion.
The rest of the top 10 are: Lance Gokongwei and siblings ($3.1 billion), the Aboitiz family ($2.9 billion), Isidro Consunji and siblings ($2.65 billion), Tony Tan Caktiong and family ($2.6 billion), Jaime Zobel de Ayala and family ($2.55 billion), Ramon Ang ($2.45 billion) and Andrew Tan ($2.4 billion).
Rounding out the top 40 list of richest Filipinos for 2022 are: Lucio Tan ($2 billion), the Ty siblings ($1.9 billion), Dennis Anthony and Maria Grace Uy ($1.75 billion), Lucio and Susan Co ($1.7 billion), Hartono Kweefanus and family ($1.5 billion), Po family ($1.2 billion), William Belo and family ($1.15 billion), Vivian Que Azcona and siblings ($1.1 billion), Mercedes Gotianun and family ($1.09 billion), Betty Ang ($1.05 billion);
Soledad Oppen-Cojuangco and family ($985 million), Inigo Zobel ($930 million), Roberto Ongpin ($830 million), Dennis Uy ($810 million), Campos siblings ($780 million), Dean Lao and family ($710 million), Henry Soesanto ($625 million), Luis Yu Jr. ($545 million), Jacinto Ng ($490 million), Eusebio Tanco ($450 million);
Yap family ($440 million), Manuel Zamora Jr. ($430 million), Robert Coyiuto Jr. ($420 million), Menardo Jimenez ($380 million), Mariano Tan Jr. ($375 million), Gilberto Duavit Jr. ($360 million), Felipe Gozon ($355 million), Carlos Chan ($350 million), Sylvia C. Wenceslao ($340 million), Edgar Sia II ($330 million);
Keng Sun and Peter Mar and family ($310 million), Alfredo Yao ($280 million), Jose Antonio ($270 million), Mariano Martinez Jr. ($250 million), Oscar Lopez ($245 million), Tomas Alcantara ($240 million), Wilfred Steven Uytengsu Jr. ($230 million), Frederick Dy ($220 million), Philip Ang ($190 million), and Benedicto and Teresita Yujuico ($185 million).
“The minimum net worth to make the list was $185 million, down from $200 million last year,” said Forbes.
“The list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts and other sources. Unlike Forbes’ Billionaires rankings, this list includes family fortunes, including those shared among extended families. Net worths are based on stock prices and exchange rates as of the close of markets on July 22, 2022.”