The Richest Filipinos in the Fashion and Beauty Industry for 2024

The Philippine peso and the economy witnessed slower growth in the first quarter of 2024, but the country’s certified billionaires now have more names added to the list. On Forbes’ latest index of the Philippines' richest, last year’s 14 billionaires grew to the present 16, with the nation’s upper echelon boasting a collective wealth of $80.8 billion or approximately P4.63 trillion. Among them include familiar tycoons who operate the Philippines’ most famous fashion and beauty brands.

READ: The Richest Filipinos in the Fashion and Beauty Industry for 2024, According to Forbes

Maintaining their spot in last year’s list, the Sy siblings continue to dominate the Forbes Philippines’ richest. The children of the late Henry Sy Sr. had a total net worth of $13 billion, a slight decrease from 2023’s $14.4 billion. The amassed fortune throughout the generations can be traced back to its beginnings as a humble overrun shoe business dubbed Shoemart, growing into one of Southeast Asia’s most formidable conglomerates. SM Retail, chaired by Teresita Sy-Coson, has ownership across supermarkets and retail brands, including stakes in Forever 21 and Uniqlo. 

Landing on the eighth spot this year is Jaime Zobel de Ayala and family, with a net worth of $2.6 billion from last year’s $2.8 billion. As the oldest major conglomerate in the Philippines, the Ayala Corporation holds stakes across industries, including fashion retail. The group expanded this into e-commerce, acquiring a 49 percent stake in the online fashion platform Zalora Philippines in 2017.

Lance Gokongwei and siblings are in the 11th spot for 2024, totaling a net worth of $1.9 billion from 2023’s $3 billion. With interests ranging in an expanse of industries, the conglomerate also holds Robinsons Retail under Director, President, and CEO Robina Y. Gokongwei-Pe. The company’s portfolio includes lifestyle sneaker brand Sole Academy, alongside beauty brands like Shiseido, Benefit Cosmetics, and Clé de Peau Beauté.

LIST: Forbes’ 16 Billionaires in the Philippines for 2024

See the full list and details.

1. Sy siblings - $13 billion (Diversified) 

2. Enrique Razon Jr. - $11.1 billion (Logistics)

3. Manuel Villar - $10.9 billion (Real Estate)

4. Ramon Ang - $3.8 billion (Food and Beverages)

5. Isidro Consunji and siblings - $3.4 billion (Construction and Engineering)

6. Tony Tan Caktiong and family - $2.65 billion (Food and Beverages)

7. Lucio Tan - $2.65 billion (Diversified)

8. Jaime Zobel de Ayala and family - $2.6 billion (Diversified)

9. Lucio and Susan Co - $2.3 billion (Retail)

10. Aboitiz family - $2.2 billion (Diversified)

11. Lance Gokongwei and siblings - $1.9 billion (Diversified)

12. Ty siblings - $1.85 billion (Finance and investments)

13. Andrew Tan - $1.8 billion (Diversified)

14. Vivian Que Azcona and siblings - $1.7 billion (Retail)

15. Po family - $1.65 billion (Food and beverage)

16. Soledad Oppen-Conjuangco and family - $1 billion (Diversified)

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