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Sy, Gokongwei, Aboitiz lead Philippines' billionaires club: Forbes

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ABS-CBN News

MANILA – A record number of Filipino billionaires made it to the list of the country’s <a href="http://http://www.forbes.com/philippines-billionaires/#5a79175f7b97">50 richest people</a> as ranked by Forbes Magazine. The list, released Thursday, will appear in the magazine’s September issue.The top 20 and their net worth, as determined by Forbes, are as follows:1. Henry Sy and Family ($13.7 billion). The Sys are credited with introducing mall culture to the country with their SM Supermalls that started with a lowly shoe shop in Carriedo in downtown Manila.2. John Gokongwei ($6.8 billion). His empire includes Robinsons Malls, snack food giant Universal Robina and pioneer budget airline Cebu Pacific.3. Aboitiz family ($5 billion). They have stakes in power generation, banking (Unionbank) and land development.4. Lucio Tan and family ($4.9 billion). The enduring tycoon has stakes Philippine Airlines, Philippine National Bank, Eton Properties, Fortune Tobacco and Tanduay Distillers5. George Ty and family ($4.6 billion). They control the country&#x27;s second largest lender by assets, Metrobank, and have stakes in auto (Toyota Motor Philippines), power and hotels.6. Tony Tan Caktiong and family ($4.3 billion). The founder of the country&#x27;s largest fastfood company, Jollibee Foods Corp., is pursuing an aggressive overseas expansion with sights set on becoming the fifth largest restaurant operator in the world.7. Jaime Zobel de Ayala and family ($4.1 billion). The Ayala brand includes malls, condominiums, hotels, telecommunications and utilities.8. Enrique Razon Jr. ($3.5 billion). He controls port operator International Container Terminal Services Inc. (ICTSI) and Bloombery Resorts, which operates the Solaire mega-casino.9. David Consunji ($3.1 billion). He has stakes in real estate, infrastructure and the country&#x27;s largest coal mine, Semirara.10. Andrew Tan ($3 billion). Tan&#x27;s Alliance Global owns the country&#x27;s McDonald&#x27;s franchise and has interests in real estate and gaming. He recently bought Spanish brandy-maker Bodegas Fundador.11. Lucio and Susan Co ($2 billion). The couple operates the Puregold supermarket chain, which is riding on the country&#x27;s consumption boom.12. Manuel Villar ($1.8 billion). The former senator and presidential candidate is growing his real estate and retail businesses. His funeral park company, Golden Haven, recently went public.13. Robert Coyiuto Jr. ($1.7 billion). he chairs Prudential Guarantee and Assurance and owns luxury vehicle distributor PGA Cars.14. Inigo and Mercedes Zobel ($1.5 billion). They have stakes in conglomerates Ayala Corp. and San Miguel Corp.15. Gotianun family ($1.3 billion). Filinvest Development, founded by the late taipan Andrew Gotianun, has stakes in property, power and banking.16. Ramon Ang ($1.2 billion). He has led San Miguel Corp.&#x27;s diversification from beer brewer to infrastructure, power, and petroleum.17. Edgar Sia ($1.2 billion). The founder of Mang Inasal recently expanded into the mall businessmen with Double Dragon. He is the youngest billionaire on the list.18. Roberto Ongpin ($1.18 billion). The Alphaland chairman was the target of President Rodrigo Duterte&#x27;s campaign businessmen he described as against &quot;oligarchs.&quot; He is also fighting an insider trading conviction by the Securities and Exchange Commission.19. Dean Lao ($1.15 billion). His D&amp;L Industries makes specialized products for food, plastics and aerosol manufacturers.20. Eduardo Cojuangco ($1.14 billion). The former ambassador and presidential candidate is still chairman of San Miguel Corp.

A record number of Filipino billionaires made it to the list of the country’s 50 richest people as ranked by Forbes Magazine.

A record number of Filipino billionaires made it to the list of the country’s 50 richest people as ranked by Forbes Magazine.