Forbes: Record number of Filipino billionaires in 2016
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.
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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