1. Henry Sy
2010 Rank: #1 (unchanged)
Networth: $7.2 billion
Age: 86
Marital Status: Married, 6 children
Started with small shoe store in Manila, which he built into one of country’s largest retail groups. SM Prime, the Philippines’ largest shopping mall developer, run by son Hans, plans to list its China operations. Shares in SM Investments, family’s largest asset, up nearly 40%. Banco de Oro Unibank, country’s largest bank, run by daughter Teresita Sy-Coson. Listed property developer Belle Corp., expected to open its first casino in Manila in 2012.
2. Lucio Tan
2010 Rank: #2 (unchanged)
Networth: $2.8 billion
Age: 77
Marital Status: Married, 6 children
His biggest asset, Hong Kong-based Eton Properties, is enjoying a big boost in property values. Has stake in PAL Holdings, which controls flagship carrier Philippine Airlines. Fortune Tobacco, the country’s largest tobacco company, is fighting Department of Health in court on an order to put graphic warnings on cigarette packs about health dangers of smoking.
3. John Gokongwei Jr.
2010 Rank: #3 (unchanged)
Networth: $2.4 billion
Age: 83
Marital Status: Married, 6 children
JG Summit, conglomerate he founded, has interests in airlines, telecoms, real estate, banking, hotels and power generation. Group’s budget carrier Cebu Air listed last October, raising $623 million. Brother James Go chairs JG Summit, son Lance is president.
4. Andrew Tan
2010 Rank: #5 (+1)
Networth: $2.0 billion
Age: 58
Marital Status: Married, 4 children
Son of factory worker, his holding company, Alliance Global, has interests in food and beverage, real estate, gaming. His new power-generation venture FDC Utilities plans to raise funds for renewable energy projects. Wife Katherine is treasurer and sits on board.
5. David Consunji
2010 Rank: #12 (+7)
Networth: $1.8 billion
Age: 90
Marital Status: Married, 8 children
Big jump for former concrete inspector who founded construction company in 1954 and later expanded into infrastructure, real estate, mining and power. He moved into top 5 as shares of his DMCI Holdings more than doubled in past year. Value of Semirara Mining nearly tripled. Son Isidro is DMCI Holdings’ president. Children share fortune.
6. Jaime Zobel de Ayala
2010 Rank: #4 (-2)
Networth: $1.7 billion
Age: 77
Marital Status: Married, 7 children
Chairman emeritus of Ayala Corp., country’s largest conglomerate by market capitalization. Interests include real estate, hotels, financial services, telecom, utilities. Plans to invest $1.8 billion in power generation, infrastructure. Stake held by his 7 children. Jaime II, eldest, is chairman; Ferdinando is vice chairman.
7. Enrique Razon Jr.
2010 Rank: #7 (unchanged)
Networth: $1.6 billion
Age: 51
Marital Status: Married, 2 children
Port operator who controls listed International Container Terminal Services is the Philippines’ youngest billionaire.
8. Eduardo Cojuangco Jr.
2010 Rank: #10 (+3)
Networth: $1.4 billion
Age: 76
Marital Status: Married, 4 children
Controls San Miguel, food and beverage conglomerate with interests in power. Last year sold option to group of investors to buy him out for undisclosed sum. Share price of company, which completed $370 million secondary offering in May, has nearly doubled since. Former Marcos crony; country’s Supreme Court recently ruled that his stake in San Miguel, which the Presidential Commission on Good Government had alleged he got because of his links with the former dictator, wasn’t ill-gotten.
9. Roberto Ongpin
2010 Rank: #21 (+12)
Networth: $1.3 billion
Age: 74
Marital Status: Married, 4 children
Former minister of trade who studied at Harvard Business School, has investments in property, mining, telecom. Top Frontier, investment firm he has holding in, has been buying up stakes in San Miguel. He also upped stake in mining firm Atok-Big Wedge, reaping big gain. Ongpin says his net worth is no more than $500 million, based on his debt and the share price of Atok-Big Wedge overstating the company’s value.
10. George Ty
2010 Rank: #9 (-1)
Networth: $1.1 billion
Age: 78
Marital Status: Married, 5 children
His Metrobank, country’s second-largest lender, posted record profits of $195 million in 2010. Self-starter founded bank in his 20s, stepped down as chairman in 2006 in favor of son Arthur. Group’s power unit began operating new coal-fired power plant in April. Real estate arm Federal Land plans to build $300 million hotel in Manila.
11. Tony Tan Caktiong
2010 Rank: #6 (-5)
Networth: $1.0 million
Age: 58
Marital Status: Married, 3 children
Founder of Jollibee Foods, country’s largest fast-food company, joins billionaire ranks for first time. Expanded Jollibee from single ice cream parlor to network of 7 fast-food brands, with 2,300 outlets worldwide. Plans to open 300 new stores this year. Building a new factory in China to supply to its outlets there. Bought Mang Inasal, a rival fast-food chain from Edgar Sia II (No. 40).
Source: Forbes
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