Villar remains wealthiest in PH, 20 Pinoys made it in Forbes' list

April 7 ------ Forbes magazine has named 20 Filipinos in its 36th Annual World’s Billionaires List with real estate and retail tycoon Manuel B. Villar Jr. still the wealthiest in the Philippines for the fourth year in a row. The youngest Filipino to top the list of the country’s wealthiest, Villar was only 69 when he first reached the top in 2019. Forbes ranked Villar as number 263 in the world, up 89 notches from 352 in 2021, with a net worth of $8.3 billion—15 percent more than his estimated wealth of $7.2 billion last year.

Newcomers in the list are Betty Ang, spouses Dennis Anthony and Maria Grace Uy, and the Genomal brothers who are into garments and apparel. Ang and the Uy couple’s fortunes ballooned following the initial public offerings of Monde Nissin and ICT Converge, respectively. Ms. Uy is also the youngest in the list at 53.

Ports and gaming magnate Enrique K. Razon Jr. remained the second richest in the Philippines ($6.7 billion) followed by Henry Sy Jr. ($2.8 billion), and Andrew Tan ($2.8 billion). Fourth to ninth in the list are the other Sy siblings: Hans Sy ($2.6 billion), Herbert Sy ($2.6 billion) Harley Sy ($2.4 billion), Teresita Sy-Coson ($2.4 billion), and Elizabeth Sy ($2.1 billion). The Sy family’s wealth used to be all listed under the taipan patriarch Henry Sy Sr. who was at the top of the list for 11 years (2007 to 2018) before he passed away.

Next in this year’s list Ramon S. Ang ($2.0 billion) followed by Lance Gokongwei ($1.6 billion), Tony Tan Caktiong ($1.3 billion), Betty Ang ($1.2 billion), Lucio Tan ($1.2 billion), and Maria Grace Uy ($1.2 billion). Also in the list are Geromal brothers Nari, Ramesh and Sunder ($1 billion each), followed by Roberto Ongpin ($1 billion), and Dennis Anthony Uy ($1 billion).

Only Villar and Gokongwei managed to improve their rankings even as the country’s economy has yet to recover from the impact of the pandemic. “War, pandemic and plunging stock markets have dented the fortunes of many of the richest people on the planet this year,” Forbes Magazine said.

It found 2,668 billionaires around the globe for the 2022 World’s Billionaires list, down from a record 2,755 last year. Collectively, they’re worth $12.7 trillion, down from a record $13.1 trillion on the 2021 list. In all, 329 people fell off the billionaires list this year—the most since the 2009 financial crisis. That includes 169 “one-year wonders,” newcomers to the 2021 ranking. Still, 236 newcomers joined the ranks this year and 1,050 billionaires are wealthier than they were a year ago.

Source: mb.com.ph