SM empire's Sy siblings retain top spot in Forbes Philippines' Richest 2022 list

ABS-CBN News

Posted at Aug 11 2022 10:44 AM

MANILA — Late tycoon Henry Sy's children remain as the country's richest, according to the Forbes Philippines' Richest 2022 list. 

Teresita Sy Coson, Henry Sy Jr., and Hans, Herbert and Harley have a combined net worth of $12.6 billion which dropped from $16.6 billion in 2021 largely due to the pandemic, Forbes said in its latest report

"Their combined net worth is comprised largely of stakes held in the group's publicly traded SM Investments and SM Prime," Forbes said. 

The SM empire is among Southeast Asia's largest conglomerates with interests in department stores, supermarkets, real estate, banks, hotels and mining.

Real estate tycoon Manuel Villar remains at the second spot in the list with a net worth of $7.8 billion. Individually, he is the country's richest based on the latest Forbes' world's billionaires list

He has interests in real estate, malls, offices, supermarkets and has recently acquired frequencies to air on free TV.

Port and casino magnate Enrique Razon is the country's third richest billionaire with a net worth of $5.6 billion. His Bloomberry Resorts operates Solaire Resort and Casino. He is also the chairman of International Container Terminal Services which has a global footprint.

He also has interests in water and energy, among others.

Lance Gokongwei and his siblings are on the fourth spot. Lance, Robina, Lisa, Faith, Hope and Marcia are behind JG Summit Holdings which has interests in food, telecom, airlines, banking, power and real estate. Their combined net worth is $3.1 billion, Forbes said.

Completing the top 5 is the Aboitiz family with a net worth of $2.9 billion. They run one of the country's leading conglomerates Aboitiz Equity Ventures, which has interests in power, banking, real estate and food, among others.

DMCI's Isidro Consunji and siblings, Jollibee Foods Corp's Tony Tan Caktiong and family, Ayala Corp's Jaime Zobel de Ayala and family, San Miguel Corp's Ramon Ang and Alliance Global's Andrew Tan completed the top 10. 

For the period, the combined wealth of the country's 50 richest declined to $72 billion from $79 billion last year due to the recent headwinds, including the inflation that hit 6.4 percent in July, reduced exports to China and the weakening peso, Forbes said.

TOP 10 RICHEST iN THE PHILIPPINES IN 2022 ACCORDING TO FORBES:

1. Sy siblings (net worth: $12.6 billion)
2. Manuel Villar (net worth: $7.8 billion)
3. Enrique Razon Jr (net worth: $5.6 billion)
4. Lance Gokongwei and siblings (net worth: $3.1 billion)
5. Aboitiz family (net worth: $2.9 billion)
6. Isidro Consunji and siblings (net worth: $2.9 billion)
7. Tony Tan Caktiong and family (net worth: $2.6 billion)
8. Jaime Zobel de Ayala and family (net worth: $2.55 billion)
9. Ramon Ang (net worth: $2.45 billion)
10. Andrew Tan (net worth: $2.4 billion)

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