Heirs of Philippine tycoons rise among wealthiest

ABS-CBN News

Posted at Sep 17 2020 12:10 PM

MANILA - Heirs of Philippine conglomerates rose among the country's wealthiest this year following the deaths of their predecessors.

The children of mall and banking tycoon Henry Sy ranked first with a fortune worth $13.9 billion despite a decrease of P3.3 billion, according to Forbes.

They unseated property tycoon and former Senate president Manny Villar from the first spot.

Lance Gokongwei and his siblings replaced on the list their father John Gokongwei Jr. who died in November 2019. They ranked fourth as they debuted with a net worth of $4.1 billion.

The wife of San Miguel’s Eduardo Cojuangco, who passed away in June, ranked 16th with a net worth of $1.15 billion.

Soledad Oppen-Cojuangco shares the fortune with their four children Carlos, Luisa, Margarita and Mark, said Forbes.

Here is the full list of the country's top 10 richest:

  1. Sy siblings; US$13.9 billion
  2. Manuel Villar; $5 billion
  3. Enrique Razon Jr.; $4.3 billion
  4. Lance Gokongwei & siblings; $4.1 billion
  5. Jaime Zobel de Ayala; $3.6 billion
  6. Andrew Tan; $2.3 billion
  7. Lucio Tan; $2.2 billion
  8. Ramon Ang; $2 billion
  9. Tony Tan Caktiong; $1.9 billion
  10. Lucio & Susan Co; $1.7 billion