MANILA – Henry Sy and 10 other business moguls from the Philippines are included in Forbes magazine's annual billionaires list.
Sy, 91, was ranked 71st in the Forbes list with a net worth of $12.9 billion. In last year's billionaire's list, the SM malls owner ranked 73rd among the world's richest with $ 14.2 billion.
Following Sy is JG Summit Holdings founder John Gokongwei Jr., who has a net worth of $5 billion. From 254th in last year's ranking, he fell to the 270th spot this year.
Gokongwei has businesses in airlines, telecoms, property development, banking, hotels, and power.
Coming in at third is LT Group's Lucio Tan, who has a net worth of $4 billion. Ranked 380th in the Forbes list, Tan has snatched the title of being the third richest Filipino from International Container Terminal Services (ICTSI) chairman Enrique Razon Jr., whose fortunes fell from $5.2 billion last year to $2.4 billion this year.
LT Group owns Asia Brewery and has a stake in Philip Morris-Fortune Tobacco, which has an estimated 80 percent market share of the cigarette market in the Philippines.
Rounding up the list of Filipino billionaires in Forbes' list are:
GT Capital’s George Ty (#421) with $3.7 billion;
DMCI’s David Consunji (#569) with $ 3 billion;
Megaworld's Andrew Tan (#569) with $3 billion;
Jollibee's Tony Tan Caktiong (#569) with $3 billion;
ICTSI's Enrique Razon Jr. (#722) with $2.4 billion;
Puregold's Lucio and Susan Co (#1,121) with $1.6 billion;
Prudential's Robert Coyiuto Jr. (#1,121) with $1.6 billion;
Vista Land founder and former Senator Manuel Villar (#1,367) with $1.3 billion
BILL GATES STILL RICHEST
Microsoft co-founder Bill Gates is still ranked the world's richest person with an estimated net worth of $75 billion, $4.2 billion less than last year.
Facebook chief executive Mark Zuckerberg had the best year of all, adding $11.2 billion to his fortune.
Forbes put the 31-year-old's net worth at $44.6 billion, ranking him number six, just behind Amazon's Jeff Bezos ($45.2 billion). It was the first time either of them made the top ten.
It hasn't been a banner year for billionaires, however.
According to Forbes, their number has slipped to 1,810, fewer by 16 compared to last year, and their aggregate net worth shrank by $570 billion to $6.48 trillion.
This is also the first year since 2010 that the average individual billionaire's fortune has dropped, settling at $3.6 billion, $300 million less than last year, it said.
A volatile stock market, cratering oil prices and the strong dollar have reshuffled the ranks of billionaires, the magazine said.
Only two held on to their previous year's rank -- Gates, who has been number one for three straight years, and investor Warren Buffet, whose $60.8 billion fortune put him in third place.
Mexico's telecoms magnate Carlos Slim slipped to fourth place, giving up second to retailer Amancio Ortega of Spain ($67 billion). Slim's fortune plunged from $77.1 to $50 billion.
Forbes said 221 people fell off the list altogether, replaced by 198 newcomers.
The youngest billionaire was 19-year-old Danish heiress Alexandra Andresen. Her 20-year-old sister Katharina is the second youngest on the list.
In all, 66 billionaires are under 40 years of age. The richest of the 190 women on the list was Liliane Bettencourt of France who was ranked 11th with $36.1 billion, down from $40.1 billion last year.
The United States is still the country with the most billionaires (540), followed by mainland China (251) and Germany (120).
Russia has 77 billionaires, Hong Kong 69, and Brazil 23, down from 31 last year.
The complete list is posted on www.forbes.com/billionaires. - with Agence France-Presse