14 super rich Filipinos

According to reports, the number of Filipinos joining Forbes’ elite list of dollar billionaires has expanded from 11 last year to 14. While I happen to know many other Filipinos who are just as rich — with some even wealthier who have not come out in in Forbes’ list — their net worth may be difficult to estimate as most of their assets are in corporate shares or in blind trusts. Some of them even pay not to be mentioned because they want to remain low key. And who knows — maybe some just don’t want the BIR to go after them.

It’s very clear that these individuals really worked hard to grow their businesses, and I’m proud to say that I know some of them and have been watching how they built their businesses from the ground up to become some of the biggest businessmen in the country today.

One of them is Ramon Ang (with an estimated net worth of $1.4 billion as of March 20) whom I have known for close to four decades, having met him in the late 1970s when he was engaged in the importation of high-end vehicles and truck engines and then selling or trading them. RSA — or “Don Ramon” as he is called by longtime friends — started tinkering with cars when he was a young man, figuring out how the engines and other mechanisms worked.

Call it luck or fate, it was Ramon Ang’s partnership with Mark Cojuangco (who also had a passion for cars and racing) that eventually led to his friendship with Ambassador Eduardo “Danding” Cojuangco (estimated net worth: $1.2 billion) of San Miguel Corp., one of the biggest conglomerates in the country and acknowledged as Southeast Asia’s largest publicly listed food, beverage and packaging company.

Ramon is now president of San Miguel, having proven his business acumen — not to mention his loyalty and trustworthiness — when Danding Cojuangco went to the US and left him to take care of the business. This trust proved to be well founded because the food and beverage company has since grown by leaps and bounds, diversifying into other interests such as energy and infrastructure.

Of course, most Filipinos are familiar with the success story of Henry Sy Sr., the richest individual in the country whose net worth is estimated at $12.4 billion (as of March 21). “Tatang” started with a small shoe store in Quiapo in 1958 that eventually became the first Shoemart department store. Today, “SM” has become a byword in retail and shopping, with the progress of a city or province gauged by the presence of “SM Super Malls.”

That shoe store has since become a super conglomerate through SM Investments Corp. with substantial interests in retail, banking, real estate and property development. I have known the Sy family for more than three decades and like many, I could not help but admire the business acumen of Tessie Sy Coson who has virtually become the family “matriarch.” Tessie’s hard work and industry has not gone unnoticed as proven by numerous business awards and accolades she received. In fact, she was in Forbes Asia’s 50 Power Business Women list.

One other man on the list who, despite his irascible personality inspires admiration and praise from people who have worked for him — is Roberto “Bobby” Ongpin (net worth $1.1 billion). His discipline and hard work are valuable lessons that have encouraged people such as former Philippine Economic Zone Authority director general Lilia de Lima to give nothing but the best in their work. 

Ricky Razon (net worth $3.6 billion) is another hardworking businessman whose restless energy makes him perfect as the country’s “ports king,” moving like a “Speedy Ricky” as he expands his port business from one part of the world to another, from Asia to Europe to Latin America and Africa. 

One individual who really amazes me, and whom I wrote about in an article, is Edgar “Injap” Sia – an innovative young man who rounds up the elite group of 14 super rich Filipinos in Forbes’ list. At 40, this college drop out (net worth $1.1 billion), who is also part of a small group of under 40 billionaires, continues to be a person of humility who generously shares the secrets to his success. He can certainly relate to the millennials who aspire to be successful and who knows, could also become members of this exclusive billionaires’ club. 

Perhaps a key to the success of these individuals is also the fact that they know how to give back as seen in the corporate social responsibility projects they undertake. Even Bill Gates — the world’s richest individual with an estimated net worth of $86 billion — has the Melinda and Bill Gates Foundation that provides funding for numerous projects that aim to empower the poorest and eradicate poverty through access to quality healthcare and education.

San Miguel provides scholarship grants that do not only cover tuition but also provides book allowances and stipends. It conducts medical missions and provides housing for victims of major calamities and disasters. Danding Cojuangco gives hope to poor out-of-school youth with his Project Hope that provides technical and vocational training scholarships for future employment opportunities. Through the Eduardo Cojuangco Foundation, numerous students as well as educators have also been granted scholarships to uplift the quality of education in the country.

SM Foundation, on the other hand, has a host of civic assistance and sustainability programs that protect the environment and at the same time empower communities. It employs people with disabilities, builds houses for people displaced by natural disasters, and also provides scholarships to poor but deserving students. More importantly, SM is passionate about climate change and disaster risk reduction — and this is incorporated in the designs of their malls like solar powered rooftops and water storage systems to prevent flooding in nearby communities.

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