Grandpas rule Forbes richest list in Philippines

ABS-CBN News

Posted at Sep 09 2018 07:01 AM | Updated as of Sep 09 2018 10:38 AM

MANILA -- Many Filipino billionaires at the top of Forbes Magazine's richest list are, not surprisingly, grandfathers, with some of the third generation looking to emulate their grandparents' success.

Howard Sy, the 29-year-old grandson of shopping mall tycoon Henry Sy, is striking out on his own with a storage business that is named after the patriarch's shoe store.

Former Senate president and real estate tycoon Manuel Villar, who zoomed to second on the list due to the success of his memorial park business, gushed about the "inexplicable joy" of being a first time grandparent in his newspaper column.

Villar said he hoped studies saying that grandparents who look after their grandchildren add up to 5 years to their lives were true.

Here are the Filipino billionaire grandfathers on Forbes Magazine's richest list for 2018:

Henry Sy Sr ($18.3 billion)

Founder of SM Group of Companies, Chairman emeritus of SM Investments. Age: 93

Manny Villar ($5 billion)

Founder and Chairman of Vista Land and Lifescapes. Age: 68

John Gokongwei Jr ($4.4 billion)

Founder of JG Summit, Universal Robina Corporation, Robinsons Retail. Age: 92

Jaime Zobel de Ayala ($4 billion)

Retired Chairman of the Ayala Group. Age: 84

Lucio Tan ($3.8 billion)

Founder and Chairman of the LT Group, Founder of Asia Brewery. Age: 84

Ramon Ang ($2.85 billion)

President and Vice Chairman of San Miguel Corp. Age: 64

Andrew Tan ($2.6 billion)

Chairman of Alliance Global which owns McDonalds in the Philippines, Emperador Brandy, and Megaworld. Age: 66