Richest Man in the Philippines

By suplado on Mar 12, 2008 in Finance, People, Top 10

I already posted topics about the richest man in the world 2007 and this year Forbes richest man in the world, maybe this time this post is about our richest here in the Philippines. Rich Filipinos are actually the poorest, when compared to our neighboring Asian countries like in Indonesia, Malayasia, Singapore and Thailand. We had the smallest total net worth, $16 billion. W only had three billionaires; and lowest minimum net worth, a mere $25 million. Here are the list of top ten richest persons in the Philippines.

1. Henry Sy (SM, Banco de Oro)
$4 billion
82. Married. 6 children.

2. Lucio Tan (Fortune Tobacco, Asia Brewery, Philippine Airlines)
$2.3 billion
72. Married. 6 children.

3. Jaime Augusto Zobel de Ayala (Ayala Corp, Globe Telecom, Manila Waters, BPI)
$2 billion
72. Married. 7 children.

4. Eduardo Cojuangco (San Miguel Corp, Coca Cola Philippines)
$840 million
71. Married. 4 children.

5. George Ty (Founder and chairman of Metrobank)
$830 million
74. Married. 5 children.

6. John Gokongwei Jr. (JG Summit)
$700 million
80. Married. 6 children.

7. Tony Tan Caktiong (Jollibee Foods Corp.)
$575 million
53. Married. 3 children.

8. Andrew Tan (Chairs Megaworld Corp)
$480 million
57. Married. 4 children.

9. Emilio Yap (Manila Hotel, Manila Bulletin)
$350 million
81. Married.

10. Oscar Lopez (ABS-CBN Broadcasting Corp)
$315 million
76.

I am not sure we if our richest man in list is poorer compare to those richest men from other Asian countries, maybe true but partly not according to Forbes The list was compiled using shareholding information and financial data obtained from the Philippine Securities & Exchange Commission, the Philippine Stock Exchange, analysts or the companies themselves. Privately held companies, for whom in most cases only 2004 data were readily availables. But what they did not know is that Filipinos are humble and they don’t want to be called or known that they had that kind of money. Second rich people here in the Philippines are afraid to be a victim of kidnapping. Third, rich Filipino people don’t pay the exact taxes to paid they only corrupted government officials. Fourth, they don’t have the list of those politicians, from mayor to governors especially congressmen who are corrupt. Fifth, they don’t have the list of those gambling lords in the country which can released more than $20M for the campaign fund during election and have the budget of $4 million a month for the gambling protection paid down to the lowest rank policeman of PO1 to Chief Superintendent and from Barangay Councilor to the City Mayor to Governors and Congressman to Cabinet Secretaries and Government Advisors. Lastly they don’t have the list of those people involves in the multi billions projects funded by Chinese Government like ZTE controversy.

Most of all, people are involved allegedly in selling Spratly’s Island which is part of the Philippines land to China!

About suplado…

Henry Sy’s Mall of Asia - 3rd Biggest Mall in the world

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