MANILA - The list of richest Filipinos had new entrants this year, three of whom came from a family that was previously unfamiliar to many in the country.
The Genomals joined the usual surnames Sy, Villar, Razon, Gokongwei and Tan in Forbes' list of 20 richest Filipino billionaires taking the ranks 16th, 17th and 18th. But who are they and what is the source of their wealth?
The 68-year old Sunder Genomal was ranked as the 2578th richest in the world with a net worth of $1 billion. He made the list for the first time this year.
According to Forbes, Genomal runs the Bangalore-based Page Industries, which is one of the largest licensees for underwear maker Jockey. The company was established in 1994 with the aim to bring Jockey to India.
The Genomal clan is the exclusive licensee for Jockey in the Philippines for 3 generations, according to Forbes.
"Sunder, who shares his wealth with two brothers, set up Page Industries in 1994 with the aim of bringing Jockey to India," Forbes said.
His Forbes data showed that his place of residence is in Bangalore, India but his citizenship is Filipino.
Forbes said Page Industries is also swimwear brand Speedo's exclusive Indian licensee.
According to its website, Page Industries "commenced operations in the year 1995 with the manufacturing, distribution and marketing of Jockey products."
"Its promoters are the Genomal family, who have been associated with JOCKEY International Inc. for 50 years as their sole licensee in the Philippines," it added.
Tied with Sunder in the 2578th place, the 82-year old Nari Genomal resides in Manila and is also a Filipino citizen, according to Forbes.
"He co-founded Page Industries in 1994 with his two brothers the aim of bringing Jockey to India," Forbes said.
Sunder's brother 71-year old Ramesh is also the co-founder of Page Industries. He is also ranked 2578th in the list with a net worth of $1 billion.
"Ramesh Genomal gets his wealth from a minority stake in apparel maker Page Industries," Forbes said.