Henry Sy is PH’s richest man

Mall magnate Henry Sy is the country’s richest again. He has held the top spot for 5 years in a row now. The 87-year-old magnate controls the SM group, which operates the country’s biggest retail business and bank in terms of assets. His estimated wealth is pegged at $9,100 as compared to $7,200 in 2011. Next to Sy, the second richest is Lucio Tan whose wealth amounts to $4,500. Port operator Enrique Razon, who now ranks No. 3, is the biggest gainer. He used to be No. 7 in 2011. Razon has a net worth of $3.6 billion, up from the previous $1.6 billion. There are now 15 billionaires in the country, as against only 11 in 2011.

Read the full story on Rappler

Other details are available from Forbes Magazine