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Sy family is Philippines’ richest, billionaires’ fortunes rebound despite pandemic

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Three of Henry Sy Sr" s="" six="" children:="" Henry="" Teresita="" and="" Hans="" Sy.="" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2019/business/01/18/2019119-kids-sy.jpg"/><figcaption>Three of Henry Sy Sr&#x27;s six children: Henry Jr., Teresita Sy-Coson, and Hans Sy. <em>File</em></figcaption></figure></div><p>MANILA <strong>(UPDATE)</strong> - The heirs of mall tycoon Henry Sy form the richest family in the Philippines, with their wealth growing $2.7 billion this year compared to 2020, Forbes said on Thursday. </p><p>he Sys, who collectively own the country’s largest mall empire, its biggest bank and several other businesses, are at the top of <a href="https://www.forbes.com/philippines-billionaires/?sh=3f0f76f7776e#21e000037776" target="_blank">Forbes’ list</a> of richest Filipinos, with a combined worth of $16.6 billion.</p><p>Manuel Villar comes in second with $6.7 billion, Forbes said. The businessman and former Senate President’s wealth increased by $1.7 billion this year. </p><p>Coming in third is ports tycoon Enrique Razon with an estimated wealth of $5.8 billion. Razon’s wealth grew $1.5 billion this year. </p><p>“The top three are the biggest dollar gainers on this year’s list, collectively richer by nearly $6 billion,” Forbes said.</p><p>The following billionaires and their families round up the top ten.</p><p>4) Lance Gokongwei and siblings; $4billion<br/>5) Jaime Zobel de Ayala; $3.3billion<br/>6) Dennis Anthony and Maria Grace Uy; $2.8 billion<br/>7) Tony Tan Caktiong; $2.7 billion<br/>8) Andrew Tan; $2.6billion<br/>9) Ramon Ang; $2.3billion<br/>10) Ty siblings; $2.2 billion</p><p>Forbes said the tycoons on 2021 list of the Philippines’ 50<br/>richest staged a robust recovery and saw their collective wealth rise 30 percent to$79 billion. </p><p>New names also made it to the list, while others made a significant jump in ranking thanks to the public listing of their companies. </p><p>Betty Ang, cofounder and president of Monde Nissin, climbed<br/>20 spots to No. 18 following more than a seven-fold jump in her wealth to $1.4 billion after Monde Nissin’s June listing.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/05/26/21/monde-nissin-philippines-biggest-ipo">Monde Nissin books Philippines&#x27; biggest initial public offering</a></li></ul><p>Dennis Anthony and Maria Grace Uy, cofounders of Converge ICT Solutions, meanwhile were No. 6 on the list after their company went public last October, raising $522 million.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/10/09/20/converge-ict-prices-ipo-at-p1680-per-share-near-bottom-of-guidance">Converge ICT prices IPO at P16.80 per share, near bottom of guidance</a></li></ul><p>Forbes also noted that more than a dozen people on the list saw their fortunes decline including liquor and airline billionaire Lucio Tan. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/06/17/21/pal-net-loss-p73-billion-2020-covid-19">PAL operator incurs P73 billion loss in 2020, airline to undergo restructuring</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1770373" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

The heirs of mall tycoon Henry Sy form the richest family in the Philippines, with their wealth growing $2.7 billion this year compared to 2020, Forbes said on Thursday. 