The list of 14 Filipino billionaires who made it to Forbes Magazine's 2023 World's Billionaires List was headed by real estate tycoon 73-year-old Manuel Villar Jr. There were 2,640 global billionaires included in the 2023 rich list, down from 2,668 in 2022, and their combined net worth was $12.2 trillion.
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MANUEL VILLAR JR — Net worth, $8.6 million: Better known as “Manny”, the property developer is today the richest Filipino. Villar’s net worth was estimated at at $8.6 billion in 2023, up from $6.5 billion in 2020. The higher net worth makes him the 232nd richest person in the world, as per Forbes. Villar is the founder of property developer of Vista Land & Lifescapes Inc., Allday Marts supermarkets and Vistamalls Inc. Photo shows Manny Villar with wife, Senator Cynthia Villar.
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ENRIQUE RAZON — Net worth, $7.3 billion: The second-richest Filipino is Enrique Razon Jr., owner of ports operator International Container Terminal Services Inc. (ICTSI), a Manila-based cargo facilities operator which reported revenues of $2.2 billion in 2022, and gaming company Bloomberry Resorts. Razon also has interests in gold mining and oil exploration assets.
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RAMON ANG — Net worth, $3.4 billion: San Miguel Corp. (SMC) president Ramon Ang, with a fortune of $3.4 billion, is the country’s third richest man in the country. SMC is one of the country’s largest conglomerates with interests spanning food and beverage, energy and infrastructure.
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HENRY SY JR. — Net worth, $2.5 billion: Henry Sy Jr., vice chair of property, banking, and retail conglomerate SM Investments Inc., is the country's fourth richest man. Sy is the chair of Synergy Grid & Development Phils Inc., which owns the country's power transmission operator, National Grid Corp. of the Philippines (NGCP). His sisters and brothers are also on the Forbes wealthy list.
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ANDREW TAN — Net worth, $2.5 billion: Andrew Tan is the founder of the conglomerate Alliance Global Group, a property, beverage, gaming and fast food holding company. The son of a factory worker, Tan built his fortune developing large apartment complexes around Manila. Alliance Global runs Emperador, the world's largest brandy company by sales volume.
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HANS SY — Net worth, $2.4 billion: Hans Sy, along with his brother Herbert Sy, is ranked fifth on the Forbes rich list. Hans was the long-serving president of SM Prime Holdings, where he is still a director, and he also serves as an adviser to SM Investments, chair of China Banking Corp., and chair of National University.
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HERBERT SY — Net worth, $2.4 billion: Herbert is also an SM Investments adviser. He is actively involved in the grocery operations of the firm, which includes an investing arm. He earned an undergraduate degree in management from Manila’s De La Salle University.
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LUCIO TAN — Net worth, $2.4 billion: Lucio Tan, a Chinese-Filipino businessman, is also ranked fifth on the list, with a net worth of $2.4 billion. Tan owns Philippine Airlines, the country's flag carrier, and is the chairman of the LT Group, a conglomerate with holdings in tobacco, spirits, banking, and real estate.
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HARLEY SY — Net worth, $2.2 billion: Siblings Harley Sy and Teresita Sy-Coson, shared the No. 6 spot on the list. Harley is the former president of SM Investments, where he remains executive director. He is also a director of China Bank, an adviser of BDO Private Bank and co-vice chair of SM Retail.
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TERESITA SY-COSON — Net worth, $2.2 billion: Teresita, eldest child of the late taipan and SM Group founder Henry Sy Sr., is the vice chair of SM Investments and chair of BDO Unibank, the country’s biggest lender.
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ELIZABETH SY — Net worth, $1.9 billion: Elizabeth Sy is an adviser of SM Investments and plays an active role in the group’s tourism, leisure and hospitality operations. She is the current chair and president of SM Hotels and Conventions.
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LANCE GOKONGWEI — Net worth, $1.4 billion: Lance Gokongwei, CEO of JG Summit Holdings, is the only son of the late taipan John Gokongwei Jr. He runs a conglomerate with interests that span food and beverage, real estate, airlines (Cebu Pacific), telecommunications, power and electricity distribution.
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TONY TAN CAKTIONG — Net worth, $1.2 billion: Fast food tycoon Tony Tan Caktiong is the country’s 9th richest person. Caktiong is the founder and chair of Jollibee Foods Corp., a fast-food giant with over 6,400 stores around the world.
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IÑIGO ZOBEL — Net worth, $1 billion: Iñigo Zobel has an estimated fortune of $1 billion, which comes from his stake in San Miguel Corp, where he sits as board director. He also has a stake in the country’s oldest conglomerate, Ayala Corp., which is controlled by his relatives.
Image Credit: Instagram | @jvejercito
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