Manny Villar still Philippines’ richest, most billionaires see drop in wealth

Ralf Rivas
Manny Villar still Philippines’ richest, most billionaires see drop in wealth
Manny Villar and Roberto Ongpin are the only gainers of all Filipino billionaires, according to Forbes. The rest see lower net worth amid turbulent markets and the coronavirus pandemic.

MANILA, Philippines – Property tycoon Manny Villar is still the Philippines’ richest, according to the 2020 billionaires list released by Forbes on Tuesday, April 7.

Forbes estimated Villar’s net worth at $5.6 billion, slightly higher than the $5.5 billion last year. Villar ranked 286th in the world.

The 70-year-old Villar, who once aspired to be the country’s president, is currently the chairman of Starmalls and Vista Land & Lifescapes. He also owns Golden Bria, a housing and condominium developer. (READ: Entrepreneur Manny Villar: ‘I don’t like politics anymore’)

Ports and gaming tycoon Enrique Razon Jr came in 2nd place with a net worth of $3.4 billion.

Razon takes the slot of John Gokongwei Jr, who died in November 2019.

Here are the Filipinos with a net worth of at least $1 billion, according to Forbes:

  1. Manny Villar – $5.6 billion
  2. Enrique Razon Jr – $3.4 billion 
  3. Hans Sy – $2 billion 
  4. Herbert Sy – $2 billion
  5. Harley Sy – $1.9 billion
  6. Henry Sy Jr – $1.9 billion
  7. Andrew Tan – $1.9 billion
  8. Teresita Sy Coson – $1.8 billion
  9. Roberto Ongpin – $1.7 billion
  10. Lucio Tan – $1.7 billion
  11. Tony Tan Caktiong – $1.7 billion
  12. Elizabeth Sy – $1.6 billion
  13. Ramon Ang – $1.4 billion
  14. Robert Coyiuto Jr – $1.4 billion
  15. Eduardo Cojuangco – $1 billion

Only Villar and Roberto Ongpin saw increases in net worth, while the rest decreased. Ongpin’s net worth slightly increased to $1.7 billion from $1.1 billion a year ago.

The so-called “Sy-blings” of mall and properties giant SM have a combined net worth of $11.2 billion, lower than the $13.3 billion a year ago.

Lucio Tan’s net worth decreased by 61% to $1.7 billion from an estimated $4.4 billion in 2019. (READ: Lucio Tan’s millennial grandson rises to power)

Jollibee’s Tony Tan Caktiong and his family’s net worth decreased by over 56% from $3.9 billion to $1.7 billion.

Amazon chief executive officer Jeff Bezos is the world’s richest for the 3rd straight year, with an estimated net worth of $113 billion.

Microsoft’s Bill Gates ($98 billion), Louis Vuitton’s Bernard Arnault ($76 billion), business magnate Warren Buffett ($67.5 billion), and Oracle’s Larry Ellison ($59 billion) round up the top 5 billionaires.

Forbes said there are 2,095 billionaires on the 2020 list, down from 2,153 in 2019.

The total combined net worth of this year’s billionaires is $8 trillion, down from $8.7 trillion in 2019, which is “reflective of the turbulent markets and the coronavirus pandemic.” – Rappler.com

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Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.