5 Filipino billionaires who helped shaped the Philippines
The list includes the Sy family, real estate investor Manuel Villar, the late John Gokongwei Jnr, Enrique Razon Jnr and Jaime Zobel de Ayala
The Philippines has a long history as a commercial hub in the Asian region. From the 15th century to 17th century in Southeast Asia, known as the “Age of Commerce”, the country played a role in the region’s emerging seaborne trade. In the last few decades, the Philippines has steadily grown again as a flourishing trade partner in the region. Here are five of the richest people in the Philippines who have helped shape the country’s current economic landscape.
The Sy family
Net worth: US$17.2 billion*
Industry: Retail, banking, tourism, mining, real estate and property development
The ruling billionaire family in the Philippines is the Sy family. The late Henry Sy Senior – the richest person in the country for 11 consecutive years in 2018 at US$18.3 billion – left his fortune to his six children. Their combined wealth is primarily due to their having stakes in the publicly listed SM Investments and SM Prime. The six siblings are Teresita, Elizabeth, Henry Jnr, Hans, Herbert and Harley, and while they sit on the group’s board, daily operations are managed by outside professionals.
John Gokongwei, Jnr
Net worth: US$5.3 billion*
Industry: Aviation, banking, property, telecom, energy and F&B
When founder of JG Summit, the late John Gokongwei Jnr, died in November 2019, he was the Philippines’ third richest person. Gokongwei has one son (and five daughters), Lance, who is now CEO of JG Summit. The company he built, Universal Robina Corporation, is one of the biggest F&B companies in the Philippines today. His eldest daughter, Robina, is president of family’s Robinson Retail Holdings, the second largest multi-format retailer in the country.
Manuel Villar