fORBES 2017 BILLIONAIRE’S LIST: MEET THE RICHEST PEOPLE ON

THE PLANET

SOURCE: fORBES, MANILA BULLETINREPORTED BY: CHARLENE ALMAIDA

fORBES MARCH 20, 2017

On the 30th anniversary of Forbes’ guide to the world’s richest, we found a record 2,043 billionaires – 233 more than a year ago. In total they are worth $7.7 trillion.

METHODOLOGY The Forbes Billionaires list is a snapshot of wealth taken on February

17, 2017; we used stock prices and exchange rates from around the world to calculate net worths. Some fortunes have changed considerably since then.

We list individuals rather than multigenerational families who share large fortunes, though we include wealth belonging to a billionaire’s spouse and children if that person is the founder of the fortune.

14 FILIPINO TYCOONS INCLUDED IN fORBES’ LIST OF WORLD’S RICHEST

#94 HENRY SY $12.7BSM INVESTMENT CORPORATION

Henry Sy, the richest person in the Philippines, owns retailers and real estate throughout the country.

However, Sy’s net worth dropped from $12.9 billion last year due to global market volatility as well as strengthening of the US dollar.

His family-owned SM Investments is the largest retailer in the Philippines, with stakes in banking, property and retail. 

It announced in February 2016 that it is merging all its retail-related businesses under SM Retail; in March SM announced a partnership with Singaporean e-commerce company Lazada.

Sy family’s holding firm, SMIC, has consistently been cited as one of the Philippines best-managed companies.

The Chinese businessman’s eldest daughter Teresita Sy Coson was also one of Asia’s most powerful businesswomen.

Sy studied retail at his father's elbow in the family convenience store. Not satisfied with merely filling dad's shoes, he saved up to start a footwear shop, the humble origins of his empire.

#250 JOHN GOKONGWEI, JR. $5.8BJG SUMMIT GROUP

John Gokongwei Jr. is the founder of JG Summit, one of the largest conglomerates in the Philippines with interests in air transportation, banking, food, hotels, power, chemicals, real estate, and telecommunications.

 The Gokongwei family also has interests in Robinson Retail Holdings, the Philippines second-largest multi-format retailer, and Universal Robina Corp, one of the country's largest food and beverage companies.

He also owns franchises for True Value, Top Shop, Toys R Us, and Daiso. He has more than 1,500 retail outlets.

Gokongwei started a cornstarch plant in 1957. Gokongwei's brother James Go chairs JG Summit. Gokongwei's only son Lance is president, his eldest daughter Robina is president of Robinsons Retail and his daughter Lisa runs Summit Media.

#501 LUCIO TAN $3.7BPHILIPPINE AIRLINES, ASIA BREWERY

Lucio Tan's LT Group has interests in tobacco, spirits, banking and property development.

The group reported a 50% increase in net income in 2015.

Subsidiary Asia Brewery partnered with Heineken in May of 2016 to help upgrade its beer-brand portfolio. 

Tan got his business start as a chemical engineer, mopping floors to pay for school.

He enjoys playing golf and flying helicopters.

#544 GEORGE TY $3.5BMETROBANK

Also joining the country’s richest list is Metropolitan Bank and Trust Co. (Metrobank) owner George Ty, 84, who landed on the fourth rank, with his estimated net worth of $3.5 billion.

Today, Ty’s Metrobank is the country’s second-largest bank in terms of assets, and has been increasing its domestic presence and boasts 945 branches around the Philippines.

George Ty's GT Capital Holdings has interests in banking, auto, property development, power generation and insurance. The group is taking a bigger bet on the infrastructure boom after exiting some of its power investments. 

Ty also owns hotels under the Grand Hyatt and Marco Polo brands.

At age 19 Ty was refused a bank loan to start a business; his difficulties spurred him to start his own bank a decade later.

#564 ENRIQUE RAZON, JR. $3.4BINTERNATIONAL CONTAINER TERMINAL SERVICES (ICTSI)

Trailing Ty is casino and port operator Enrique Razon Jr., 57, who saw his net worth at $3.4B.  The billionaire chairs the International Container Terminal Services (ICTSI), the country’s largest port operator, which also operates through subsidiaries in eastern Europe, Africa and the Americas.

In recent years it's suffered from a slowdown in global trading; income was down by almost 65% in 2015. ICTSI said it plans to revive a container rail service through the Philippines' capital in Manila. 

Razon's grandfather began with a port in Manila in 1916. Razon's dad rebuilt the business after World War II. Razon started out in the port business with his dad in Manila and transformed it into a global giant.

His hospitality firm, Bloomberry Resorts Co., includes its crown jewel, the Solaire Casino and Resort in the Philippines.

#564 TONY TAN CAKTIONG $3.4BJOLLIBEE

Tony Tan Caktiong's Jollibee empire continues to expand across the world and attract legions of loyal customers.

Among the new hot spots of 2016: Skokie, Illinois, where hundreds of customers lined up for an opening in August. 

Jollibee is the fastest-growing Asian restaurant chain in the world, selling Filipino, Chinese, American and European dishes adapted to a modern, quick-serve, affordable format.

With partner Edgar Sia II, he also owns stake in the fast-growing DoubleDragon Properties Corp.

#630 DAVID CONSUNJI $3.1BDMCI HOLDINGS, INCORPORATED

A former concrete inspector, David Consunji founded construction company DMCI in 1954.

The firm has since diversified into power generation, real estate and infrastructure.

Consunji also has stakes in the country's largest coal miner, listed subsidiary Semirara Mining. 

His son Isidro heads DMCI Holdings and Semirara. David shares his fortune with his children.

#814 ANDREW TAN $2.5BALLIANCE GLOBAL GROUP INC., MEGAWORLD

The son of a factory worker, Andrew Tan built his wealth developing large apartment complexes around Manila.

He earned his first fortune in brandy. Now his holding company, Alliance

Global, has interests in food and beverage, gaming and real estate. 

It owns the country's McDonald's franchise and listed brandy company Emperador.

#1376 ROBERTO COYIUTO, JR. $1.5BPGA CARS

Robert Coyiuto Jr chairs the privately held Prudential Guarantee & Assurance, one of the largest nonlife insurance companies in the country.

He also owns a 30% stake in the privately held National Grid Corp. of the Philippines and a stake in publicly listed Oriental Petroleum & Minerals Corp.

In addition, he owns PGA cars, a Philippines-based distributor of luxury-car brands like Audi, Porsche, Lamborghini and Bentley.

#1376 MANUEL VILLAR $1.5BVISTALAND, STARMALL

Manuel Villar is majority owner of Starmalls, one of the Philippines' largest mall operators, and Vista Land & Lifescapes, a property developer.

In July of 2016 the firm announced plans to invest $25M to open 7 more retail stores within the next year that will sell home furnishings through its AllHome brand. 

The family-owned Golden Haven Memorial Park, a property developer affiliate of Vista Land focused on parks, went public in June of 2016.

Villar's son Paolo runs Vista. As a child, Manuel helped his mom sell seafood in a Manila market.

#1468 RAMON ANG $1.4BSAN MIGUEL CORPORATION

Consummate car collector Ramon Ang runs conglomerate San Miguel.

Originally a brewer, San Miguel is market leader in food and beverages but the bulk of its revenues stems from power, fuel, oil and infrastructure businesses. 

Ang's privately held Eagle Cement boasted 30% margins in 2015.

He also owns a hotel and 100 acres of prime real estate.

Ang got his start fixing up and selling used Japanese car and truck engines before partnering with Eduardo Cojuangco's son to sell aluminum wheels.

#1678 EDUARDO COJUANGCO $1.2BSAN MIGUEL CORPORATION

Politician-diplomat-businessman and Marcos era crony, "Danding" chairs powerful food-to-infrastructure conglomerate San Miguel.

Protégé Ramon Ang bought his stake in 2012 and now controls operations.

He also owns a private cement-manufacturing business and is invested in orchards, stud farms and wineries in Australia.

#1795 ROBERTO ONGPIN $1.1BALPHALAND CORP.

Roberto Ongpin, the chairman of property developer of Alphaland and former Philippine trade minister, has been embroiled in controversy.

The Philippine Securities and Exchange Commission accused Ongpin of insider trading in connection with the 2009 sale of Philex Mining shares. Ongpin denied the charges. The Court of Appeals effectively issued a hold on a July 2016 SEC ruling requiring him to pay a fine and disqualifying him from serving as officer or director of a corporation.

Ongpin resigned as head of gaming firm PhilWeb Corp. in 2016 after being among the oligarchs singled out by President Rodrigo Duterte as "embedded in government."

#1940 EDGAR SIA $1BDOUBLEDRAGON PROPERTIES

With partner Tony Tan Caktiong, Edgar Sia II owns a stake in DoubleDragon Properties, the rapidly growing real estate developer they took public in 2014.

It has been developing commercial and residential properties and reportedly plans to build 100 malls by 2020.

In August of 2016 the company announced it was acquiring a majority stake in Hotel of Asia Inc. 

An aspiring architect, Sia dropped out of college to start Filipino fast-food label Mang Inasal.

He sold a stake in it to Tan Caktiong in 2012.

THANK YOU!!