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Forbes Magazine releases list of top 10 richest Filipinos for 2014

The American business magazine has officially released the names of the Philippines’ richest for 2014, with familiar names still occupying the Top 10 slots.
By Renz Lyndon Paguio |
Forbes Magazine releases list of top 10 richest Filipinos for 2014

Proving that the retail industry in the country remains strong, the 89-year old founder of the SM Group, Henry Sy holds his place as the richest among Filipinos having a net worth of $12.7 billion. Occupying the top spot for 7 years now, the business tycoon also owns Banco de Oro and China Banking Corporation, to name a few.

With a net worth of $6.1 billion, the 80-year-old tobacco mogul Lucio Tan remains in the 2nd top slot. Aside from his ownership of Philip Morris Fortune Tobacco, the tycoon also holds Asia Brewery, Philippine Airlines, and the University of the East, among others.

The youngest billionaire on the list, with a net worth of $5.2 billion is the Philippines International Container Terminal Services Chairman and President Enrique Razon.

The 54-year-old snatched the 3rd spot by a very small margin from the 4th on the list, Megaworld and Emperador Distilleries owner Andrew Tan, also known as the shy billionaire. With a net worth of $5.1 billion, the tycoon lagged behind Razon by just $1 billion. The mogul owns a number of McDonald’s franchised stores via his Alliance Global Group.

JG Summit Holdings founder John Gokongwei, Jr. remained at No. 5 with a net worth of $4.9 billion, a significant increase compared to his overall asset of $3.4 billion last year. Under the conglomerate, he owns one of the country’s largest food corporations Universal Robina, local airlines Cebu Pacific, and Summit Media (publisher of Entrepreneur Philippines), among others.

The oldest billionaire in the top 10 is 96-year old DMCI founder David Consunji, who has a net worth of $3.9 billion, making him the 6th richest man in the country. Metrobank founder George Ty and family followed at No. 7 with a net worth of $3.7 billion while the Aboitiz family under the current chairman Jon Ramon lagged behind at No. 8 with a $3.6 billion net worth.

The owner of the country’s oldest and largest conglomerate, Jaime Zobel de Ayala and family holds the 9th spot with a net worth of $3.4 billion. Capping off the top 10 list is Jollibee founder Tony Tan-Caktiong and family with a net worth of $2 billion, mostly coming from the largest fast-food joint in the country.

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