Top 10 Richest Filipinos

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Top 10 Richest Filipinos 2010

July 12, 2010

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2010 Forbes List of Richest Filipinos

The 2010 list of Richest People in the Philippines is once again dominated by old-timers but they are

much wealthier now compared to last year.

For three consecutive years now, Henry Sy of SM Malls remains to be the countrys richest and also the

years biggest gainer, with his net worth up 28% to $5 billion. JG Summits John Gokongwei (#3) is the

newest billionaire with a $1.5 billion net worth, joining the ranks of Sy, Philippine Airlines Lucio Tan

(#2), Ayala Groups Jaime Zobel de Ayala (#4), and Megaworlds Andrew Tan (#5).

First time to join the Top 10 is Unilabs Beatrice Campos (#8), also the richest woman in the Philippines.

Out of the Top 10 is Manny Villar (#17), down from #9 last year, whose net worth fell following his loss

in the Philippine Presidential race.

According to Forbes Magazines list of The Philippines 40 Richest, the countrys richest are collectively

worth $22.8 billion this year, up 39% in 2009.

Top 10 Richest People in the Philippines 2010


1. Henry Sy


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2009 Rank: #1 (unchanged)

Networth: $5.0 billion

Age: 85

Marital Status: Married, 6 children

Starting with small shoe store in Manila, he built SM Prime into countrys largest mall developer. Run by

son Hans, its expanding in China, where it will open a fourth mall later this year. Stock of his SM

Investment, familys biggest asset, up more than 25% in past year. Scrapped plans for a Las Vegas-style

casino complex in Manila Bay, which was scheduled to open this year. Son Henry Sy Jr. recently bought

Enrique Razon Jr.s (No. 7) stake in power transmission company National Grid Corp. and became its

president and CEO in June. Banco De Oro Unibank, countrys largest bank, is run by daughter Teresita Sy-

Coson.


2. Lucio Tan



Age: 76


Owns nations largest cigarette maker, Fortune Tobacco, second-largest beermaker, Asia Brewery, and

stake in Philippine Airlines. Biggest chunk of fortune comes from Hong Kong-based Eton Properties,

which is selling land in one of its township developments to Henry Sys SM Prime. Much of former

electrical engineers wealth still sequestered by the presidential commission on good government, while

cases make their way through countrys court system.


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3. John Gokongwei

2009 Rank: #5 (+2)


Age: 83


His JG Summit Holdings outperformed market, making him a billionaire for the first time. Shares hit 2-

year peak earlier this year partly on plans to list groups budget carrier, Cebu Pacific, whose IPO

subsequently got delayed. Brother James Go chairs JG Summit, son Lance is president. Groups retail

unit, Robinsons, has stores in 7 countries.


4. Jaime Zobel de Ayala

2009 Rank: #3 (-1)


Age: 76


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His Ayala Corp., Philippines largest conglomerate by market capitalization, plans to invest $1.6 billion in

various projects, including power generation. Interests include real estate, hotels, financial services,

telecom, utilities. While he is chairman emeritus, family stake held by his 7 children. Jaime II, eldest, is

chairman, son Fernando vice chairman and president.


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5. Andrew Tan

2009 Rank: #4 (-1)


Age: 58


Son of factory worker put himself through college, worked in appliance store. Later made his first

fortune in brandy. Holding company Alliance Global Groups businesses include food and beverage, real

estate, gaming. Shares up 25% from last year. Co-owns casino Resort World Manila with Genting Hong

Kong.


6. Tony Tan Caktiong


Networth: $980 million

Age: 60


Founded Jollibee Foods in 1975, with an ice cream parlor. Now countrys largest fast-food company,

with 700 American-style Jollibee burger outlets and numerous other brands in Asia, Middle East and the

U.S. Opened its first Chowking, a Chinese food outlet, in Qatar in November; plans to expand that brand

in the Middle East this year.


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7. Enrique Razon Jr.

2009 Rank: #8 (+1)


Age: 50


Port operator recently sold his stake in power unit National Grid to Henry Sy Jr. Profits from sale boosted

his fortune. Shares in his International Container Terminal Services, which he runs, have nearly doubled

since last year on uptick in global trade. Avid golfer.

8. Beatrice Campos

2009 Rank: #13 (+5)


Age: NA

Marital Status: Widowed, 5 children

Late husband Jose Campos cofounded drug firm Unilab, which accounts for biggest portion of familys

wealth. Also has controlling stake in Singapore-listed Del Monte Pacific, run by son Joselito, whorecently invested in San Miguel Corp. with Roberto Ongpin (No. 21) and Inigo Zobel (No. 11).



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9. George Ty

2009 Rank: #10 (+1)


Age: 77


Founded Metrobank, countrys second-largest lender, in his 20s. Profits at the bank, which son Arthur

now chairs, were up nearly a third in first quarter. Holds almost 40% of the bank with his children.

Metrobank Foundation, which he created nearly 30 years ago, supports health care, art and education

projects.


10. Eduardo Cojuangco Jr.

2009 Rank: #7 (-3)


Age: 75


Recently sold an option to buy out his stake in San Miguel Corp., one of Asias largest food and beverage

companies, to Top Frontier, an investor group led by Roberto Ongpin (No. 21). Surprise move sparked

rumors of his ill health, but he remains chief executive.

Top 10 Richest Filipinos

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