Sy family is Philippines’ richest, billionaires’ fortunes rebound despite pandemic

ABS-CBN News

Posted at Sep 09 2021 10:14 AM | Updated as of Sep 09 2021 06:21 PM

Three of Henry Sy Sr's six children: Henry Jr., Teresita Sy-Coson, and Hans Sy. File
Three of Henry Sy Sr's six children: Henry Jr., Teresita Sy-Coson, and Hans Sy. File

MANILA (UPDATE) - The heirs of mall tycoon Henry Sy form the richest family in the Philippines, with their wealth growing $2.7 billion this year compared to 2020, Forbes said on Thursday. 

he Sys, who collectively own the country’s largest mall empire, its biggest bank and several other businesses, are at the top of Forbes’ list of richest Filipinos, with a combined worth of $16.6 billion.

Manuel Villar comes in second with $6.7 billion, Forbes said. The businessman and former Senate President’s wealth increased by $1.7 billion this year. 

Coming in third is ports tycoon Enrique Razon with an estimated wealth of $5.8 billion. Razon’s wealth grew $1.5 billion this year. 

“The top three are the biggest dollar gainers on this year’s list, collectively richer by nearly $6 billion,” Forbes said.

The following billionaires and their families round up the top ten.

4) Lance Gokongwei and siblings; $4billion
5) Jaime Zobel de Ayala; $3.3billion
6) Dennis Anthony and Maria Grace Uy; $2.8 billion
7) Tony Tan Caktiong; $2.7 billion
8) Andrew Tan; $2.6billion
9) Ramon Ang; $2.3billion
10) Ty siblings; $2.2 billion

Forbes said the tycoons on 2021 list of the Philippines’ 50
richest staged a robust recovery and saw their collective wealth rise 30 percent to$79 billion. 

New names also made it to the list, while others made a significant jump in ranking thanks to the public listing of their companies. 

Betty Ang, cofounder and president of Monde Nissin, climbed
20 spots to No. 18 following more than a seven-fold jump in her wealth to $1.4 billion after Monde Nissin’s June listing.

Dennis Anthony and Maria Grace Uy, cofounders of Converge ICT Solutions, meanwhile were No. 6 on the list after their company went public last October, raising $522 million.

Forbes also noted that more than a dozen people on the list saw their fortunes decline including liquor and airline billionaire Lucio Tan. 

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