Among the 2,640 billionaires listed by Forbes this year, 14 come from the Philippines.
With a net worth of $8.6 billion, Manuel “Manny” Villar tops the Philippines’ list of richest billionaires for 2023. The 232nd richest in the world, Villar chairs property developer Vista Land & Lifescapes, Inc. He also founded AllDay Marts and VistaMalls Inc.
Second to Villar is Enrique Razon, Jr., with a net worth of $7.3 billion. Razon leads ports operator International Port Container Services Inc and Bloomberry Resorts Corp, which engages in amusement, tourist, gaming, and hotel facilities and businesses.
San Miguel Corporation (SMC) president Ramon Ang places third with a net worth of $3.4 billion. As one of the oldest conglomerates in the Philippines, SMC has interests in food and beverage, finance, infrastructure, oil and energy, transportation, and real estate.
Henry Sy, Jr. and Andrew Tan share the fourth spot, each with a net worth of $2.5 billion. Sy is the vice chair of SM Investments Corp, a property, banking, and retail conglomerate. He is also the chair of Synergy Grid & Development Phils Inc., responsible for the National Grid Corp. of the Philippines, the operator of the country’s state-owned power grid.
Meanwhile, Tan founded Alliance Global Group, a conglomerate with interests in property, beverage, gaming, and fast food.
Three billionaires share the fifth spot on the list: brothers Hans Sy and Herbert Sy, and taipan Lucio Tan. Each has a net worth of $2.4 billion.
Hans Sy was previously the president of SM Prime Holdings, the conglomerate’s property arm. He remains as director for SM Prime while holding positions at SM Investments, China Banking Corp., and National University. Meanwhile, Herbert also advises SM Investments and supervises the SM group’s supermarket operations.
Tan is the owner of the country’s flag carrier Philippine Airlines and the chair of the LT Group, which dabbles in tobacco, spirits, banking, and real estate.
Completing the list of 14 billionaires are:
- Harley Sy ($2.2 B)
- Teresita Sy-Coson ($2.2 B)
- Elizabeth Sy ($1.9 B)
- Lance Gokongwei ($1.4 B)
- Tony Tan Caktiong ($1.2 B)
- Inigo Zobel ($1 B)
