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Forbes: Record number of Filipino billionaires in 2016

Who are the 50 richest Filipinos named by Forbes? Forbes Magazine

MANILA, Philippines — A record number of Filipino dollar billionaires have been recorded this year, according to Forbes Magazine's Philippines' 50 Richest list for 2016.

Twenty-one Filipinos have been included in this year's billionaires list, an increase from last year's 17 Filipino billionaires.

For the ninth consecutive year, 91-year-old shopping mogul Henry Sy topped the list with his net worth of  $13.7 billion, a drop from his $14.4-billion net worth in August 2015.

JG Summit Holdings' John Gokongwei Jr. remained in the second spot with a net worth of $6.8 billion while the Aboitiz family ranked third with $5 billion.

Rank Name Net Worth Age Origin of Wealth
1 Henry Sy $13.7 B 91 SM Investments Corporation
2 John Gokongwei, Jr. $6.8 B 90 diversified
3 Aboitiz family $5 B   Aboitiz & Company
4 Lucio Tan $4.9 B 82 diversified
5 George Ty $4.6 B 83 banking
6 Tony Tan Caktiong $4.3 B 63 fast food
7 Jaime Zobel de Ayala $4.1 B 82 diversified
8 Enrique Razon, Jr. $3.5 B 56 ports
9 David Consunji $3.1 B 94 construction
10 Andrew Tan $3 B 64 diversified
11 Lucio and Susan Co $2 B 61 retail
12 Manuel Villar $1.8 B 66 real estate
13 Robert Coyiuto, Jr. $1.7 B 63 power
14 Inigo & Mercedes Zobel $1.5 B 60 diversified
15 Gotianun family $1.3 B   real estate
16 Ramon Ang $1.21 B 62 diversified
17 Edgar Sia II $1.2 B 39 fast food
18 Roberto Ongpin $1.19 B 79 diversified
19 Dean Lao $1.15 B 57 chemicals
20 Eduardo Cojuangco $1.14 B 81 food and drinks
21 Yap family $1.1 B 90 banking

A new Filipino billionaire, mall and residence developer Edgar Sia II, enters the list in the 17th spot with a net worth of $1.2 billion.

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The heirs of the late Andrew Gotianun also makes a debut among the nation's record 21 billionaire families with a net worth of $1.3 billion. Andrew's wife, Mercedes, serves as chairman emeritus at Filinvest Development while their daughter Josephine leads the company.

Several Filipino tycoons did not experience a lift in their net worths, Forbes reported.

Latest data measuring inequality from the World Bank show that the wealthiest 20 percent of the Filipino population earned nearly half or 49.6 percent share of the income in 2012. The poorest 20 percent of Filipinos, meanwhile, only shared 5.9 percent.

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