Philippine Magnates see fall in wealth due to pandemic disruption

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Indeed, the pandemic has not chosen who to infect, and its repercussions have affected everyone like one domino would stumble the rest of its line. Not even the country’s richest were spared, with fortunes slashed more than half from their previous net worth after months of movement restrictions.

On Wednesday, Forbes has released its latest list of richest Filipinos where most tycoons saw a collective wealth drop by 22 percent, while a total of 32 magnates saw their net worths decline.

Heirs of the late taipan Henry Sy, Sr. —namely Teresita, Elizabeth, Henry Jr., Hans, Herbert, and Harley of the SM Group—took the biggest hit in dollar terms however manage to remain at No. 1 with $13.9 billion. Meanwhile, Property tycoon Manuel Villar held on to his rank as the country’s second-richest, even as his wealth fell by $1.6 billion, with a net worth now of $5 billion. Enrique Razon Jr., on the other hand, claimed spot No. 3 this year with a net worth of $4.3 billion, down from $5.1 billion previously.

 

Check out below the rest of the list:

  1. Sy siblings ($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 and Susan Co ($1.7 billion)
  11. Mercedes Gotianun ($1.5 billion)
  12. Ty siblings ($1.4 billion)
  13. Vivian Que Azcona and siblings ($1.34 billion)
  14. Isidro Consunji and siblings ($1.3 billion)
  15. Roberto Ongpin ($1.2 billion)
  16. Soledad Oppen-Cojuangco ($1.15 billion)
  17. Ricardo Po, Sr. ($1 billion)
  18. Inigo Zobel ($990 million)
  19. William Belo ($900 million)
  20. Roberto Coyiuto, Jr. ($890 million)
  21. Edgar Sia II ($700 million)
  22. Dennis Uy ($650 million)
  23. Campos siblings ($600 million)
  24. Dean Lao ($500 million)
  25. Jacinto Ng ($490 million)
  26. Mariano Tan, Jr. ($350 million)
  27. Delfin Wenceslao, Jr. ($340 million)
  28. Tomas Alcantara ($300 million)
  29. Manuel Zamora ($280 million)
  30. Carlos Chan ($260 million)
  31. Wilfred Steven Uytengsu, Jr. ($250 million)
  32. Oscar Lopez ($240 million)
  33. P.J. Lhuillier ($230 million)
  34. Jorge Araneta ($220 million)
  35. Alfredo Yao ($210 million)
  36. Eusebio Tanco ($200 million)
  37. Frederick Dy ($190 million)
  38. Betty Ang ($185 million)
  39. Jose Antonio ($180 million)
  40. Michael Cosiquien ($175 million)
  41. Jose Ma Concepcion ($174 million)
  42. Felipe Gozon ($170 million)
  43. Juliette Romualdez ($160 million)
  44. Erramon Aboitiz ($150 million)
  45. Philip Ang ($140 million)
  46. Michael Romero ($135 million)
  47. Menardo Jimenez ($125 million)
  48. Luis Virata ($115 million)
  49. Mikel Aboitiz ($110 million)
  50. Lourdes Montinola ($100 million)

 

You Might Also Want To Read: PH tycoons who passed away in 2019

 

The list was compiled using information from the individuals, stock exchanges, analysts, private databases, government agencies, and other sources.