Forbes recently published its annual Billionaires list, and the number of dollar billionaires from the Philippines has gone up from 14 last year to 16 in 2024. Forbes estimates that there will be a total of 2,781 billionaires in 2024, up from 2,640, with a combined net wealth of $14.2 trillion. The wealth of the Philippines' 50 rich families stays relatively the same at $80.8 Billion or P4.63 trillion, as compared to last year's P4.5 trillion.
With the Philippine economy expanding during the first quarter, slower growth has been observed across the board. This, combined with a weaker peso, resulted in less wealth for this year. The list is based on shareholding and financial information, which covers family fortunes, including assets shared by extended families.
In the Philippines, the Sy Siblings have now skyrocketed to the top of the list, surpassing the likes of fellow tycoons like Manuel Villar, Ramon Ang, the Ayalas, and Enrique Razon Jr. The group is worth $1.3 billion less this year as a result of the year-to-year six-percent peso difference. Meanwhile, Enrique Razon Jr. and Manuel Villar take the second and third spot, respectively. Villar was ranked first in last year's list.
Of course, there aren't many new names on the list as most hail from the Philippines’ wealthiest families. Additional names from the Philippines' most prominent families such as Vivian Que Azcona, the Po family, and Soledad Oppen-Cojuangco, among others, have also made appearances in this year's dollar billionaires rankings. Notably, out of the list is William Belo, who was at the 15th spot last year with a dollar net worth of $1.3 billion (he is now down to $895 million this year). Inigo Zobel also slid down to 21st place in the rankings, with a net wealth of $845 million.
Read on and see the 16 wealthiest billionaires in the Philippines below.
LOOK: The 16 Dollar Billionaires in the Philippines in 2024, According to Forbes
1. Sy Siblings
Net worth in 2024: $13 billion
Net worth in 2023: $14.4 billion
Industry: Diversified
Businesses: SM Group, SM Development Corp., SM Investments Corp.
2. Enrique Razon, Jr.
Net worth in 2024: $11.1 billion
Net worth in 2022:$7.3 billion
Age: 64
Industry: Logistics
Businesses: International Container Terminal Services, Inc., Bloomberry Resorts Corp. (developer of Solaire)
3. Manuel Villar
Net worth in 2024: $10.9 billion
Net worth in 2023: $8.6 billion
Age: 74
Industry: Real estate
Businesses: Vista Land & Lifescapes, Golden Bria Holdings, Vistamalls
4. Ramon Ang
Net worth in 2024: $3.8 billion
Net worth in 2023: $3.4 billion
Age: 70
Industry: Food & Beverage
Businesses: San Miguel Corporation
5. Isidro Consunji and Siblings
Net worth in 2024: $3.4 billion
Net worth in 2023: $2.9 billion
Age: 74
Industry: Construction & Engineering
Businesses: DMCI Holdings, Inc., Semirara Mining and Power Corp.
6. Tony Tan Caktiong and Family
Net worth in 2024: $2.9 billion
Net worth in 2023: $1.2 billion
Age: 70
Industry: Food & Beverage
Businesses: Jollibee Food Corporation
7. Lucio Tan
Net worth in 2024: $2.65 billion
Net worth in 2023: $2.4 billion
Age: 89
Industry: Diversified
Businesses: LT Group, Philippine Airlines, Asia Brewery, Tanduay Distillers
8. Jaime Zobel de Ayala and Family
Net worth in 2024: $2.6 billion
Net worth in 2023: $2.8 billion
Age: 90
Industry: Diversified
Businesses: Ayala Group, AyalaLand, BPI, Globe, ACEN
9. Lucio and Susan Co
Net worth in 2024: $2.3 billion
Net worth in 2023: $2.3 billion
Age: 69
Industry: Fashion & Retail
Businesses:Union Energy Corp., Puregold Realty Leasing & Management, Pg Holdings, Inc.,
10. Aboitiz Family
Net worth in 2024: $2.2 billion
Net worth in 2023: $3.15 billion
Industry: Diversified
Businesses:Aboitiz Equity Ventures, Aboitiz Power, Aboitiz InfraCapital, Aboitiz Land Inc.
11. Lance Gokongwei and Siblings
Net worth in 2024: $1.9 billion
Net worth in 2023: $1.4 billion
Age: 56
Industry: Diversified
Businesses: JG Summit Holdings, Robinsons Retail Holdings, Universal Robina Corporation, Cebu Air
12. Ty Siblings
Net worth in 2024: $1.85 billion
Net worth in 2023: $2.2 billion
Industry: Finance & Investments
Businesses: GT Capital Holdings, Metropolitan Bank & Trust
13. Andrew Tan
Net worth in 2024: $1.8 billion
Net worth in 2023: $2.5 billion
Age: 72
Industry: Diversified
Businesses: Alliance Global Group, Megaworld Corporation, Empire East Land Holdings, Emperador, Travellers International Hotel Group (Resorts World Manila)
14. Vivian Que Azcona and Siblings
Net worth in 2024: $1.7 billion
Net worth in 2023: $1.2 billion
Age: 68
Industry: Fashion & Retail
Businesses: Mercury Drug Corporation
15. Po Family
Net worth in 2023: $ 1.4 billion
Industry: Food & Beverage
Businesses: Century Pacific Food Incorporated, Century Pacific Group
16. Soledad Oppen-Cojuangco and Family
Net worth in 2024: $1.8 billion
Net worth in 2023: $1 billion
Age: 86
Industry: Diversified
Businesses: San Miguel Corporation
*This story originally appeared on Esquiremag.ph. Minor edits have been made by the Preview.ph editors.
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