Despite faster economic growth last year, some of the extremely wealthy 14 Filipinos who made it to the Forbes 2017 Global Billionaires List saw the value of their fortunes decline in the year to March 2017.
Of the 10 who returned from last year's list, five increased their net worth while five others saw a decline. Enrique Razon Jr., chairman of global ports operator International Container Terminal Services and casino operator Bloomberry Resorts, was the biggest gainer. His fortune rose by $1 billion in the past year. Meanwhile, real estate and liquor tycoon Andrew Tan saw his net worth drop by half a billion dollars, making him the year's biggest loser.
Two names are new to the list: San Miguel president Ramon Ang and DoubleDragon Properties chairman Edgar “Injap” Sia II. Two others, Eduardo Cojuangco Jr. and Roberto Ongpin, are back on the list after not making the cut in recent years.
Lorenzo Kyle Subido is a staff writer of Entrepreneur PH