11 Filipino tycoons join Forbes list
Eleven tycoons from the Philippines made it to the Forbes magazine 2013 roster of richest people on the planet, with the top rank still being held by Henry Sy and his family whose group dominates local retailing, residential and mall development and banki
The number of Philippine tycoons who have made it to the elite club swelled from just six last year to 11 as the buoyant stock local stock market has boosted the wealth valuations. Lucio Tan, Enrique Razon Jr, Andrew Tan and Roberto Ongpin are still on this year’s list.
New members this year are David Consunji and family, George Ty and family, Lucio and Susan Co, Robert Coyiuto Jr, Tony Tan Caktiong and family and Andrew Gotianun and family. Sy remains the country’s wealthiest man with an estimated net worth of US$13.2 billion (Bt393 billion), followed by Lucio Tan with $5 billion. Sy, whose “SM” group is a household brand in the Philippines, ranked 68 globally, while the latter ranked 248.
Razon, who is in international port terminal operations through his flagship International Container Terminal Services Inc, was the country’s third wealthiest man valued at $4.9 billion, followed by Andrew Tan with $3.95 billion, Consunji at $2.8 billion, Ty at $2.6 billion, Co at $2 billion, Coyiuto at $1.6 billion, Tan Caktiong at $1.4 billion and Gotianun and Ongpin both at $1.2 billion.
