August 22 - September 7, 2017
Philippine Showbiz Today
3
Henry Sy is PH richest for
10th straight year: Forbes
Filipino-Chinese mall tycoon
Henry Sy, Sr. is the Philippines’
richest man for the 10th year in a
row, as captains of the country’s
top conglomerates benefited
from robust economic growth,
according to rankings released by
Forbes Magazine on Thursday.
The net worth of Sy, who
parlayed his SM Mall business into
real estate and banking, grew to
$18 billion from $13.7 billion. He
was the biggest gainer in dollar
terms on the list, according to
Forbes.
Sy recently entrusted the
chairmanship of SM Investments
to his long-time CFO, Jose Sio,
shaking up the line succession
in
the
mostly
family-run
conglomerate that also includes
the country’s largest lender, BDO
Unibank.
Tycoon John Gokongwei
Jr. of JG summit was second,
even as his net worth declined
to $5.5 billion from $6.8 billion,
the magazine said. Gokongwei’s
group controls the country’s
largest airline, Cebu Pacific,
Robinsons Mall and Robinsons
Land.
Port magnate Enrique Razon
zoomed up 5 places on the list to
third richest, after his net worth
grew $800 million to $4.3 billion,
the magazine said. His Solaire
Casino has been sustaining a
turnaround from a net loss last
year.
Seven of the 10 biggest
dollar gainers have interests
in construction and property,
including DMCI chairman David
Consunji who placed 6th and San
Miguel Corp President Ramon
Ang, who is tenth on the list.
Aside from infrastructure,
is
growing
his Eagle
Ang
Cement business, which listed
shares on the stock exchange
earlier this year. He also recently
agreed to buy a majority stake in
the Philippine Daily Inquirer.
Half of the country’s top 50
tycoons saw their net worth fall,
with lethargic trading in the stock
market and the peso slumping
against the dollar.
Taipan Lucio Tan held at 4th
place with $4.2 billion, with his
tobacco business under threat
from a nationwide smoking ban.
Double Dragon chairman
Edgar Sia’s net worth fell 32
percent to $820 million as shares
of the developer retreated.
Alfredo Yao’s net worth fell 26
percent to $600 with his softdrink
venture, Macay holdings, under
threat from a planned tax on
sugar-sweetened beverages. He
also owns fruit drink-maker Zest-
O.
STI
Education
Systems
Holdings
chairman
Eusebio
Tanco is a newcomer to the list
at 45th, as a surge in demand for
computer courses boosted his
net worth to $150 million.
The top 10 richest in
Philippines in 2017, according to
Forbes Magazine are:
1.Henry
Sy
($18
billion)
2 .John Gokongwei Jr. ($5.5 billion)
3. Enrique Razon Jr. ($4.3 billion)
4.Lucio Tan ($4.2 billion)
5 .Jaime Zobel de Ayala ($3.7 billion)
6.David Consunji ($3.68 billion)
7.George Ty ($3.6 billion)
8 Tony Tan Caktiong ($3.4 billion)
9.Andrew Tan ($2.5 billion)
10.Ramon Ang
($2.3 billion) ●
- abs-cbn