Forbes Asia released the list of the top Philippine richest tycoons in 2022. Almost two-thirds of
those on the list admitted that they noticed their assets shrink. According to Forbes, the total
assets of Philippine tycoons dropped from US$79 billion to $72 billion last year due to the pandemic.
Sy brothers are the top richest in the Philippines in 2022. The Sy siblings are successors to
the group built by the late Henry Sy Sr. and retain the top spot. However, their net worth fell
by $4 billion to $12.6 billion-the biggest drop in dollar terms. Stakes in the family’s flagship,
SM Investments, decreased 19% from last year as investors turned skittish.
SM is one of Southeast Asia's largest conglomerates, with interests in department stores,
supermarkets, banks, hotels, real estate, and mining. While daily operations are now
managed by outside professionals, the siblings sit on the group's boards and guide SM's
overall strategy.
Real estate owner Manny Villar came in second place. Villar is accelerating the development
of high-rise condos, townships, and casinos. He counted $1.1 billion and, stays at No. 2 with
a wealth of $7.8 billion. Villar was featured on the cover of the August issue of Forbes Asia.
In third place is the ports tycoon Enrique Razon Jr. Though his net worth is slightly down to
$5.6 billion. Razon is creasing down on casinos and renewable energy with programs to build
the world’s largest solar farm in the Philippines for $3 billion.
Also in fourth place are Lance Gokongwei and his siblings, who saw their net worth drop from
$4 billion last year to $3.1 billion.
Aboitiz family is at No. 5 with a collective fortune of $2.9 billion, including the holdings of the
broader family. Aboitiz Equity Ventures got a boost from its energy interests amid rising prices.
Record first-quarter earnings of $200 million at engineering empire DMCI Holdings lifted the
fortune of Isidro Consunji and siblings and notched up the biggest percentage rise this year
and moved up seven spots to No. 6. by 47% to $2.65 billion.
See the list of names below for the top 10 tycoons in 2022:
1. Sy siblings; US$12.6 billion
2. Manuel Villar; $7.8 billion
3. Enrique Razon Jr.; $5.6 billion
4. Lance Gokongwei & siblings; $3.1 billion
5. Aboitiz family; $2.9 billion
6. Isidro Consunji & siblings; $2.65 billion
7. Tony Tan Caktiong; $2.6 billion
8. Jaime Zobel de Ayala; $2.55 billion
9. Ramon Ang; $2.45 billion
10. Andrew Tan; $2.4 billion
In Forbes's statement, the list was gathered using shareholding and financial information
acquired from families and individuals, stock exchanges, analysts, and other sources. Unlike
Forbes’ Billionaires rankings, this list comprises family fortunes, including those shared
among extended families. Net worths are based on stock prices and exchange rates as of the
close of markets on July 22, 2022. Private companies were valued based on similar
companies that are publicly traded. The list can also include foreign citizens with business,
residential or other ties to the country, or citizens who don’t reside in the country but have
significant business or other ties to the country.
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