With a net worth of $12 billion, Sy and his family, owners of the country's largest chain of malls, SM, and the Philippines' biggest bank, BDO, leads the magazine's list of the country's 50 richest people.
The Sy family is followed by Lucio Tan and his family, with a combined net worth of $7.5 billion. Tan owns the country's flag carrier, Philippine Airlines, and the fifth largest lender, Philippine National Bank.
On third place with a net worth of $4.6 billion is Andrew Tan, owner of Megaworld Corp, one of the Philippines' leading property developers, and of Alliance Global Group, a conglomerate that controls the country's leading liquor firm, Emperador Distillers, as well as the master franchise of McDonald's.
With a net worth of $4.5 billion, Enrique Razon Jr. holds the fourth spot. He owns the country's leading port operator, International Container Terminal Services Inc, whose operations span across Asia, the US, Middle East and Europe. He also owns Bloomberry Resorts Corp, the first of four state license-holders to open a casino at the Philippine Amusement and Gaming Corp's (Pagcor) Entertainment City.
On fifth place is John Gokongwei Jr. with a net worth of $3.4 billion, and whose business empire includes the country's leading budget airline, Cebu Pacific, and one of the leading food-and-beverage manufacters, Universal Robina Corp.
The Zobel de Ayala family has landed on the sixth spot with a net worth of $3.1 billion. The family owns the country's leading property developer, Ayala Land, and the third biggest lender, Bank of the Philippine Islands.
With a net worth of $3 billion, the Aboitiz family is seventh place. The family owns one of the country's biggest power plant operators, Aboitiz Power, and has interests in banking, manufacturing and property.
David Consunji is ranked eight with a net worth of $2.7 billion. His family owns one of the Philippines' biggest construction firms, DM Consunji, and the largest coal miner, Semirara.
George Ty and family is listed ninth with a combined net worth of $2.6 billion. The family gem is the country's second-biggest lender, Metrobank, but other businesses include power, property and the Philippines' largest car manufacturer, Toyota Motors, a partnership with the Japanese auto giant.
On the 10th spot is the Co couple of Lucio and Susan, who own the Puregold chain of supermarkets. They have a combined net worth of $1.9 billion.
The full list of the 50 richest Filipinos can be seen here.
source: interaksyon.com
