SUMMARY
This is AI generated summarization, which may have errors. For context, always refer to the full article.
MANILA, Philippines – Eleven Filipino businessmen have made it to Forbes’ 2013 list of world billionaires, more than the 6 who were part of the list a year ago.
They have a combined wealth of $37.85 billion and are among the among the 386 from Asia who have a net worth of $1 billion or more, according Forbes’ magazine in its March 4 release.
Forbes listed 1,426 billionaires all over the world with a collective net worth of US$5.4 trillion, up from 1,226 names with $4.6 trillion wealth a year ago.
Five of the 6 Filipinos who made it in the 2012 billionaires list moved up in the ranking. Each of their estimated wealth also increased.
Tycoon Henry Sy Sr. remained the richest Filipino with an estimated wealth of $13.2 billion. He also moved up to the 68th spot from 116.
Lucio Tan, the second richest with $5 billion estimated wealth, moved up to 248th spot from 314th, while port and casino businessman Enrique Razon edged out Andrew Tan in the billionaire list’s 3rd spot.
Roberto Ongpin‘s net worth also increased to $1.2 billion from $1 billion, but newcomers in the 2013 list were estimated to be wealthier.
Filipinos who were among the 210 newcomers in the list are mostly of Chinese descent: David Consunji (construction, power and mining conglomerate DMCI Holdings), George Ty (GT Capital and Metrobank), Lucio and Susan Co (retailer Puregold), Robert Coyuito (power transmission firm National Grid, insurance firms Prudential Guarantee and First Guarantee Assurance), Tony Tan Caktiong (foods giant Jollibee) and Andrew Gotianun (real estate player Filinvest).
Businessman Eduardo Danding Cojuangco, who was among the 6 Filipinos in 2012, dropped out of this year’s list.
See how their estimated wealth has progressed through the years.
Forbes has been compiling the world billionaires list since 1987. It estimates the networth of individuals or families based on valuation of assets, including stakes in public and private companies, real estate, yachts, art and cash. Debts are also accounted for.
Mexico’s telecommunications tycoon Carlos Slim remained the world’s richest person with an estimated wealth of $73 billion. He was followed by Microsoft founder Bill Gates ($67 billion), while Amancio Ortega of Spanish retailer Zara ($57 billion) took the 3rd spot. Ortega edged out Warren Buffet ($53.5 billion) who has been in the top 3 since 2000.
The average net worth of a Forbes billionaire is $3.8 billion, $100 million more than a year ago.
Hong Kong’s Li Ka-shing remained Asia’s richest person and the only one from the region among the world’s top 20 richest. – Rappler.com
Add a comment
How does this make you feel?
There are no comments yet. Add your comment to start the conversation.