It takes a lot more than 1 million to be truly rich today and to stay rich. Financially responsible and successful people don’t build their wealth by accident. It takes serious willpower, long-term vision, and you have to keep an eye on that prize before you achieve it.
Recently, Forbes Asia just released its 2017 list of the Philippines’ 50 Richest. Still on the spot as the country’s richest person for the tenth year in a row, is no other than the business tycoon Henry Sy. The top 12 richest Filipinos in 2017, according to Forbes Magazine are indicated below.
#1 Henry Sy
Henry Sy has a net worth of $18. He is a Chinese-Filipino businessman and the founder of SM Prime Holdings. In 1958, Sy opened the first Shoe Mart store and has since evolved into a dynamic group of companies with five lines of businesses-shopping malls, real estate development and tourism, retail, financial services, hotels and conventions. Forbes Magazine listed him as one of the richest man in the Philippines for ten years in a row.
#2 John Gokongwei
John Gokongwei is the second richest Businessman in the Philippines with a net worth of $5.5 B. He was born in China to a Filipino-Chinese father who was a scion of a wealthy Cebu-based family. Unfortunately, at the age of 15 he had to work to provide for his family since they became flat broke. He sold roasted peanuts and opened up a small stall in the market. He even sold soap, candles, and threads to earn money. Fortunately, with his determination, JG Summit Holdings, Universal Robina Corporation, Robinsons Corporation, and Cebu Pacific are all Gokongwei’s fruits of labor.
#3 Enrique Razon, Jr.
Enrique Razon Jr., is a Filipino billionaire with a net worth of $4.3 B. Razon is also known as “Ports King”, since his knowledge on how to control of where to put a port is, used him as a key to becoming one of the country’s richest business tycoons. His investments came from their family business, the International Container Terminal Services (ICTSI), which is the largest port operator in the Philippines. Razon serves as the Executive Chairman and Chief Executive Officer of Bloomberry Resorts Corporation. He is also the Chief Executive Officer and President of International Container Terminal Services, Inc.
#4 Lucio Tan
Lucio Tan was once the longest running richest man in the Philippines not until his great rival, Henry Sy took over the throne. Tan is a Chinese-Filipino billionaire with a net worth of $4.2 B. He has interests in airline, banking, tobacco, liquor, real estate industries and education. In 1966, Tan started his own cigarette company named Fortune Tobacco. He also established and put up Asia Brewery in 1982. Now a subsidiary of LT Group, the brewery was the only one then to compete with the market leader San Miguel. Also, in 1993, Tan secured control of the country’s airline carrier Philippine Air Lines (PAL).
#5 Jaime Zobel de Ayala
Almost all Filipinos probably know the Ayalas. Jaime Zobel de ayala is the Chairman and Chief Executive Officer (CEO) of Ayala Corporation with a net worth of $3.7 B. He succeeded his father as the company’s President and CEO in 1994. Zobel is also the Chairman of Globe Telecom, Bank of the Philippine Islands (BPI), and Integrated Micro electronics Inc. (IMI). He also serves as CO-Vice Chairman of Mermac, Inc.
#6 David Consunji
David Consunji was born to a middle class family in Hermosa, Bataan. Consunji is the founder of DMCI Holdings, Inc with a net worth of $3.68 B. He started his construction business as nothing more than a small contructor in 1954. He was a former secretary of Department of Public Works, Transportation from 1970-1975 during the Marcos Administration. He also has stakes in the country’s largest coal miner, listed subsidiary, Semirara Mining.
#7 George Ty
George Ty is a Filipino banker and businessman with a net worth of $3.6 B. He is the founder of Metropolitan Bank and Trust Company (MBTC). He was also the owner of the G.T. International Tower in Makati, as well as the owner of hotels under Grand Hyatt and Marco Polo Brands.
#8 Tony Tan Caktiong
Tony Tan Caktiong is the man behind the country’s famous bee. He is a Chinese-Filipino Businessman and the founder of Filipino Fast Food Chain Jollibee with a net worth of $3.4 B. Caktiong founded Jollibee in 1978 after having started it as an ice cream parlor in 1975.
#9 Andrew Tan
Andre Tan is a Chinese Filipino billionaire with business interests in liquor, fast food, and real estate. He is one of the top richest Filipinos according to Forbes with a net worth of $2.5 B. Tan runs the Alliance Global Group Inc. (AGI) composed of companies: Megaworld Corporation, Emperador Distillers, Inc., and Golden Arches Development Corporation that operates McDonald’s franchises.
#10 Ramon Ang
Ramon Ang is the President and Vice Chairman of one of the nation’s oldest conglomerates, San Miguel with a net worth of $2.3 B. He also owns a hotel with 100 acres of prime real estate. Ang started out by fixing and selling used Japanese car and truck engines later, with Eduardo Cojuangco, now a billionaire, he sold aluminum wheels.
#11 Lucio and Susan Co
The husband and wife team has a net worth of $1.8 B. They are the owners of Puregold Price Club store. The family has interests in gaming, hotels and wine distribution. Lucio is the group’s chairman, Susan serves as the vice chairman, while their son Vincent serves as the President.
#12 Manuel Villar
Manuel “Manny” Villar is a Filipino Billonaire businessman with a net worth of $1.65 B. Villar is the chairman of Starmalls and Vista Land & Landscapes. He entered politics in year 1992 where he has been a Philippine Senator and President of the Nacionalista.
There you have it! The lists above are the top 50 Richest Filipinos for 2017. According to Forbes, “the Philippines is seeing domestic wealth boosted as a result, even as its resource industries suffer from the same market drag that is hitting the sector throughout the region. The result is a mixed bunch of ups and downs among the nation’s 50 richest.”