MANILA, Philippines – Forbes magazine’s list of the 40 richest Filipinos has been the de facto reference for the country’s Who’s Who and an indicator of how the local and global economy caused a dip or spike in the individual’s or their family’s wealth.
In 2012, Forbes listed Henry Sy and his family — the group behind the SM empire — as the country’s richest 5 year in a row. The others in the Top 40 have slid down or jumped up, such as Enrique Razon who dislodged John Gokongwei in the 3rd spot.
See how their wealth progressed from 2006 to 2012 here.
Forbes calculates the wealth base on share prices of companies listed in the stock market and an estimation of the worth of privately held assets if they were listed. The figures also included the share of the individuals in their family’s fortunes. It does not consider the liabilities incurred.
Here are a few trivia and trends that may interest you:
- There are 15 Filipinos whose wealth were over a billion dollars this 2012, accdg to Forbes. There were 11 in 2011.
- The wealth of 40 richest Filipinos increased by US$13 billion to US$47.4 billion this 2012.
- 3 of the Philippines’ richest are on the board of Philippine Airlines (PAL): Lucio Tan, Roberto V. Ongpin, Iñigo Zobel
- 5 of the 40 richest Filipinos sit on the board of San Miguel Corp, the country’s biggest business group: Ongpin, Eduardo Cojuangco, Eric Recto, Menardo Jimenez, Iñigo Zobel
- Jaime Zobel de Ayala was the richest Filipino in 2007. Now he’s at the 7th top spot in Forbes list.
- Roberto Ongpin joined the Forbes list of richest Filipinos in 2010 and was twice estimated as billionaire since then. He was among the 6 Filipino billionaires who joined Forbes list of world billionaires released last March.
- Two Aboitiz family members join this year’s Rich list: Jon Ramon and Enrique
- Members of 3 families controlling GMA-7 are part of the list: Gilberto Duavit Jr, Menardo Jimenez, and Felipe Gozon.
- So are the heads of 3 of the 4 business groups involved in the upcoming Pagcor Entertainment City: Henry Sy-led Belle Corp., Enrique Razon’s Bloomberry Resorts, and Andrew Tan’s Alliance Global
- 13 of the 40 Richest Filipinos in 2012 have malls or retail outlets: Henry Sy’s SM group, Gokongwei’s Robinsons network, Andrew Tan’s Resorts World, Jaime Zobel de Ayala’s Ayala malls, Roberto Ongpin’s Alphaland mall, Lucio Co’s Puregold supermarkets, Inigo Zobel’s stakes in Ayala group, Andrew Gotianun’s Filinvest malls, Manuel Villar’s Starmall, Vivian Que’s Mercury Drug, Alfredo Ramos’s National Book Store chain, Bienvenido Tantoco’s Rustans malls
- At least 16 of the 40 Richest Filipinos in 2012 are into real estate, construction, or infrastructure business: Henry Sy’s Belle Corp and SM Development Corp, Lucio Tan’s Eton Corp, Andrew Tan’s Megaworld Corp, Enrique Razon’s Bloomberry, John Gokongwei’s Robinsons Land, Isidro Consunji’s DMCI, Ayala’s Ayala Land, George Ty’s Federal Land, Ongpin’s Alphaland, Eduardo Cojuangco and Inigo Zobel’s San Miguel Properties, Andrew Gotianun’s Filinvest Land, Villar’s Vista Land and Landscapes, Jose Antonio’s Century Properties, Michael Cosiquien’s Megawide Construction
- 18 of the 40 Richest Filipinos in 2012 have stakes in a bank or insurance units: Sy and Romualdez in BDO, Lucio Tan group in Allied Bank and PNB, Gokongwei in Robinsons Bank, Consunji in One Network Bank, Ayala and Zobel in BPI, Ty in Metrobank group, Menardo Jimenez in UCPB, Coyuito’s , Zobel, Aboitiz, Gotianun in East West Bank, Yuchengco in RCBC and Grepalife, Aboitiz in Union Bank, Dy in Security Bank, and the following in PBCom and Bank of Commerce via San Miguel’s stake: Ongpin, Cojuangco, Zobel and Recto
- Mang Inasal’s Edgar Sia is the youngest among the 40 Richest Filipinos. He’s 35. Second youngest is Michael Cosiquien, 38, of Megawide Construction who joins Forbes Richest for the 1st time.
- 12 of the 40 Richest Filipinos are in the foods and drinks business: Gokongwei’s Robina Foods, Lucio Tan’s Asia Brewery, Andrew Tan’s Emperador Distillery, Cojuangco and Zobel and Recto in San Miguel Pure Foods and San Miguel Brewery, Tony Tan Caktiong’s Jollibee Foods, Betty Ang’s Monde Nissin, Wifred Uytengsu’s Alaska Milk, Jacinto Ng’s Rebisco, Edgar Sia’s Mang Inasal
- Only 3 are women among the 40 Richest Filipinos. Unilab’s Beatrice Campos and Juliette Romualdez are widows. The third is Betty Ang of Monde Nissin.
- 9 of the 40 Richest Filipinos have stakes in mining: Sy and Ramos in Atlas Mining, Consunji in DMCI and Semirara, Alcantara in Alsons/Tampakan Mining, Zamora in Nickel Asia, and the following via San Miguel’s stakes in mining: Ongpin, Cojuangco, Zobel, and Recto
- Sen. Villar is the richest legislator but holds only the 18th spot in Forbes list of Richest Filipinos.
- 7 of the 40 richest Filipinos have, or used to have, stakes in media: Razon in Manila Standard , Gokongwei in Summit, Emilio Yap in Manila Bulletin, Gilberto Duavit and Menardo Jimenez and Felipe Gozon in GMA-7, Oscar Lopez in ABS-CBN, Gozon. Gabby Lopez of ABS-CBN did not make the cut this year
- 6 of the 40 richest Filipinos used to hold public office or were Filipino envoys: ambassadors Yap, Yuchengco, Tantoco. Cojuangco was close adviser of former President Ferdinand Marcos. Ongpin was trade minister of Marcos. Recto served as finance undersecretary under Arroyo administration. Senator Villar is currently in his last term.
- At least 5 of the 40 richest have a rags-to-riches story: Sy, Tan, Gokongwei, Consunji, Villar
- 14 of the 40 richest Filipinos have stakes in a manufacturing business: Lucio Tan’s Asia Brewery, Gokongwei’s Robina Foods, Ayala’s IMI, Ongpin and Cojuangco and Zobel in San Miguel group, Campos and Mariano Tan in Unilab, Manuel Zamora in Nickel Asia, Betty Ang’s Monde Nissin, Uytengsu’s Alaska, Ng’s Rebisco, Tomas Alcantara’s Alsons group
- 9 of the 40 richest Filipinos have stakes in the power business: Consunji’s DMCI, Coyiutio’s National Grid, Jon Ramon and Enrique Aboitiz’s Aboitiz Power, Oscar Lopez’s First Philippine Holdings, and Ty’s Global Business Power. The following via San Miguel group: Ongpin, Cojuangco, Recto and Zobel
- 5 of the 40 richest Filipinos, in one way or another, have a Marcos connection: Lucio Tan, Roberto Ongpin, Danding Cojuangco, Bienvenido Tantoco, Jose/Beatrice Campos, Benjamin/Julliette Romualdez, Inigo Zobel’s father Enrique
- The list does not include two of the most familiar business personalities in recent years — San Miguel Corp. president Ramon Ang and First Pacific Ltd’s Manuel V. Pangilinan. Both have been consistently on media spotlight due to number and size of business deals they have clinched. Ang has not been included in the list but Pangilinan has been in it 3x: 2006 ($30 million), 2007 ($33 million) and 2008 ($30 million), in all years hovering at the bottom two spots. Their wealth are reportedly kept from public view through several ownership layers in holding firms.
- 24 have Chinese roots while only 4 have Spanish ones.
Did you notice other trends in the Top 40 list? Check list here.