The Forbes Asia 40 Richest Filipinos:
1. Henry Sy - $4.0 billion-
He owns SM group with 27 shopping malls in the Philippines and several
others in China . He also owns Banco de Oro Universal Bank and has
substantial shares in China Banking Corp. and Equitable PCI Bank. He
also owns Highlands Prime Holdings, a high-end property developer.
2. Lucio Tan - $2.3 billion-
He owns Philippine Airlines, the country's flag carrier. His business
interests include tobacco (Fortune Tobacco Corp.), beer and liquor
(Asia Brewery Inc. and Tanduay Holdings Inc.), and banking (Philippine
National Bank and Allied Banking Corp).
3. Jaime Zobel de Ayala - $2.0 billion-
He is the patriarch of Ayala Corp., the Philippines' oldest
conglomerate, whose business interests include real estate and hotels
(Ayala Land Inc.), financial services (Bank of the Philippine Islands),
telecommunications (Globe Telecom Inc.), water infrastructure (Manila
Water Co. Inc.), electronics and information technology (Integrated
Microelectronics Inc. and Azalea Technology Investments Inc.) and
automotive (Honda Cars Makati Inc. and Isuzu Automotive Dealership
4. Eduardo Cojuangco - $840 million- He is the chairman of San Miguel Corporation, the largest food and Beverage Corporation in the Philippines .
5. George Ty - $830 million-
He founded Metropolitan Bank and Trust, currently the largest bank in
terms of Assets and Capital in the Philippines . He also has stakes in
the Bank of the Philippine Islands and Philippine Savings Bank, a Metro
6. John Gokongwei - $700 million-
He is the chairman of JG Summit holdings, whose subsidiaries include
Cebu Pacific Air, Digital Telecommunications Philippines Inc., First
Private Power Corp., JG Summit Petrochemical Corp., Litton Mills Inc.,
Robinsons Land Corp., Robinsons Savings Bank, Sun Cellular, United
Industrial Corp. and URC.
7. Tony Tan Caktiong - $575 million - He is the founder and current Chairman and CEO of Philippine fast food chain Jollibee, ChowKing, and Delifrance
8. Andrew Tan - $480 million- He is the Mega world president.
9. Emilio Yap - $350 million - He is the owner of Manila Hotel, newspaper owner, Manila Bulletin, a national newspaper.
10. Oscar Lopez - $315 million
- - He is the chairman and CEO of Benpres Holdings Corp., the holding
company of the Lopez group. - Meralco, ABS-CBN , Maynilad Water
11. Enrique Razon Jr. - $285 million- He is the chairman and chief executive officer, International Container Terminal Services Inc; publishing magnate.
12. Andrew Gotianun - $280 million- He is the chairman and CEO of East west Bank .
13. Enrique Aboitiz - $275 million- He is the WG&A president and chief executive officer.
14. Alfonso Yuchengco - $225 million - He is the chairman of Yuchengco Group of Companies.
o Great Pacific Life Assurance Corporation (GREPALIFE)
o Lifetime Plans, Inc.
o Bankard, Inc.
o Pan Malayan Management and Investment Corporation
o Pan Malayan Travel and Tours
o Pan Pacific Computer Center, Inc.
o YGC Corporate Services, Inc.
o Rizal Commercial Banking Corporation (RCBC)
o RCBC Savings Bank
o House of Investments
o Malayan Insurance Company, Inc.
o The First Nationwide Assurance Corporation
o Malayan Reinsurance Corporation
o Malayan Zurich Insurance Company, Inc.
o Tokio Marine Malayan Insurance Co. Inc.
o EEI Corporation
o Nippon Life Philippines
o AY Foundation
o Honda Cars Quezon City
o Honda Cars Manila
o Mapua Institute of Technology
o Manila Memorial Park
o First Malayan Leasing and Finance Corp.
15. Menardo Jimenez - $210 million - He is the head for wireless consumer division of Smart Communications.
15. Gilberto Duavit Jr. - $210 million- He is the Executive Vice President and COO of GMA 7.
17. Ramon Del Rosario - $205 million- He is the president of Philippine Investment Management (PHINMA), Inc.
18. Felipe Gozon - $180 million- He is the president of GMA-7.
19. Beatrice Campos - $160 million- She is the widow of United Laboratories founder Jose Campos.
20. Luis J. L. Virata - $150 million- He is the UEM-MARA Philippines Corporation president.
21. David M. Consunji - $145 million- He is the founder of DM Consunji Construction.
22. Bienvenido Tantoco Sr. $140 million- He is the chairman of Rustan's Commercial Corporation.
23. Betty Ang - $115 million- President of Monde Nissin, maker of instant noodles, biscuits and snack food
24. Manuel Villar - $110 million- Senate President of the Philippines and a real estate businessman who developed Camella, Palmera, Crown Asia, Serendra, etc.
25. Mariano Tan - $100 million-
26. Rolando and Rosalinda Hortaleza - $90 million- Splash Corporation (HBC/Hortaleza)
27. Oscar Hilado - $85 million- He is the chairman of the Phinma group, the Philippines ' biggest cement maker.
28. Vivian Que Azcona - $80 million- She is the president of Mercury Drug with over 500 outlets.
29. Manuel Zamora - $75 million- PHILEX Mining Corporation
30. Magdaleno Albarracin - $73 million- Vice Chairman of Phinma Group
31. Jesus Tambunting - $70 million- He is the Chairman & CEO of Planters Development Bank (PDB).
32. Frederick Dy - $65 million- He is the Security Bank president.
33. Tomas Alcantara - $60 million- He is a former Trade Secretary
34. Lourdes Montinola - $50 million- FEU Chairperson.
35. Salvador Zamorra - $45 million- He is the Hinatuan Mining president.
36. Mac & Daisy Potente - $45 million - Successful entrepreneur, own the town of Salinas in Cavite .
37. Antonio Roxas - $40 million
-Director and President of Roxas & Company Inc.; Chairman &
Chief Executive Officer of Roxas Holdings Inc.; Executive Chairman of
Central Azucarera Don Pedro (CADP) Group Corp.; Director &
President of Roxas & Company Inc., Fundacion Santiago; Chairman of
Philippine Sugar Millers Association, Club Punta Fuego Inc., Fuego Land
Corp., Jade Orient Sugar Corp.; Director of Batangas Assets Corp.,
Banco De Oro Private Bank, Philippine Long Distance Telephone Company
(PLDT), Hawaiian Philippine Sugar Co.; Trustee of Philippine Business
for the Environment, Philippine Business for Social Progress; President
of Roxas - Gargollo Foundation.
37. Wilfred Steven Uytengsu Sr. - $38 million-Alaska Milk Corporation
38. Philip T. Ang - $35 million-168 Mall partner.
39. Marixi Prieto - $30 million - Philippine Daily Inquirer chairman, Inq.7
40. Manuel Pangilinan - $25 million- Chief Executive First Pacific Holdings HK,PLDT chairman, Smart, Makati Med
OTHERS WHO SHOULD HAVE MADE IT
Sugar baron Jose Mari Chan,
runs a large sugar empire in Negros Oriental and Iloilo provinces in
the Visayas. Mr. Chan, who is also a noted song composer, inherited the
business empire from his father, Antonio, who immigrated to the
Philippines from China when he was 14 years old. The Chans, who are
among the country's biggest sugar traders, own Central Azucarera de San
Antonio (Casa), which operates a sugar mill in Iloilo and a refinery in
Negros Occidental. Casa is investing P1.2 billion in a biomass
co-generation plant capable of generating 14 megawatts of electricity
and is putting up a state-of-the-art P1.6-billion sugar refinery in
Negros Occidental. The Chans also own Hyatt Regency Hotel.
Bookstore magnate Alfredo Ramos,
one of the successful entrepreneurs in the Philippines , is qualified
to join Forbes' list. He is chairman and president of Atlas Mining and
his family owns National Bookstore, the biggest bookstore chain in the
Philippines . Mr. Ramos owned the defunct Daily Globe broadsheet.
Ambassador to Laos Antonio "Tony" Cabangon Chua's
worth is certainly more than P2 billion. Cabangon-Chua, founder and
chairman emeritus of the Fortune Group of Companies and publisher of
Philippine Graphic magazine, owns the fledgling Business Mirror and
operates popular hotel and motel chains in the country.
Antonio "Tonyboy" Cojuangco
will also easily qualify to the Forbes' list. Tonyboy reinvested his
"windfall" in Philippine Long Distance Telephone Co. and Piltel after
acquiring medium-sized Bank of Commerce and Associated Broadcasting
Co., which operates ABC-5. Tonyboy also owns Dream Cable and has joined
the call center business.
Corazon D. Ong,
another successful entrepreneur, steadily built CDO Foodsphere to
become the second-biggest meat processing company in the country after
San Miguel's Purefoods.
Former Trade and Industry Minister Roberto "Bobby" Ongpin
could probably be among the 10 wealthiest Filipinos in the Philippines
today. Bobby earns lucrative fees and commissions as an investment
banker. He was one of the senior advisers of Asian billionaire Robert
Kuok, who owns the Shangri-La hotel chain. Ongpin, whose family partly
owns SGV auditing company, is now heavily investing in the local IT
sector with investments in Eastern Telecoms, ISM Communications and