TOP 10 RICHES FILIPINOS

Top 10 Richest People in the Philippines – 2010

1. Henry Sy

2009 Rank: #1 (unchanged)

Networth: $5.0 billion

Age: 85

Marital Status: Married, 6 children

Starting with small shoe store in Manila, he built SM Prime into country’s largest mall developer. Run by son Hans, it’s expanding in China, where it will open a fourth mall later this year. Stock of his SM Investment, family’s biggest asset, up more than 25% in past year. Scrapped plans for a Las Vegas-style casino complex in Manila Bay, which was scheduled to open this year. Son Henry Sy Jr. recently bought Enrique Razon Jr.’s (No. 7) stake in power transmission company National Grid Corp. and became its president and CEO in June. Banco De Oro Unibank, country’s largest bank, is run by daughter Teresita Sy-Coson.

2. Lucio Tan

2009 Rank: #2 (unchanged)

Networth: $2.1 billion

Age: 76

Marital Status: Married, 6 children

Owns nation’s largest cigarette maker, Fortune Tobacco, second-largest beermaker, Asia Brewery, and stake in Philippine Airlines. Biggest chunk of fortune comes from Hong Kong-based Eton Properties, which is selling land in one of its township developments to Henry Sy’s SM Prime. Much of former electrical engineer’s wealth still sequestered by the presidential commission on good government, while cases make their way through country’s court system.

3. John Gokongwei

2009 Rank: #5 (+2)

Networth: $1.5 billion

Age: 83

Marital Status: Married, 6 children

His JG Summit Holdings outperformed market, making him a billionaire for the first time. Shares hit 2-year peak earlier this year partly on plans to list group’s budget carrier, Cebu Pacific, whose IPO subsequently got delayed. Brother James Go chairs JG Summit, son Lance is president. Group’s retail unit, Robinsons, has stores in 7 countries.

4. Jaime Zobel de Ayala

2009 Rank: #3 (-1)

Networth: $1.4 billion

Age: 76

Marital Status: Married, 7 children

His Ayala Corp., Philippines’ largest conglomerate by market capitalization, plans to invest $1.6 billion in various projects, including power generation. Interests include real estate, hotels, financial services, telecom, utilities. While he is chairman emeritus, family stake held by his 7 children. Jaime II, eldest, is chairman, son Fernando vice chairman and president.

5. Andrew Tan

2009 Rank: #4 (-1)

Networth: $1.2 billion

Age: 58

Marital Status: Married, 4 children

Son of factory worker put himself through college, worked in appliance store. Later made his first fortune in brandy. Holding company Alliance Global Group’s businesses include food and beverage, real estate, gaming. Shares up 25% from last year. Co-owns casino Resort World Manila with Genting Hong Kong.

6. Tony Tan Caktiong

2009 Rank: #6 (unchanged)

Networth: $980 million

Age: 60

Marital Status: Married, 3 children

Founded Jollibee Foods in 1975, with an ice cream parlor. Now country’s largest fast-food company, with 700 American-style Jollibee burger outlets and numerous other brands in Asia, Middle East and the U.S. Opened its first Chowking, a Chinese food outlet, in Qatar in November; plans to expand that brand in the Middle East this year.

7. Enrique Razon Jr.

2009 Rank: #8 (+1)

Networth: $975 million

Age: 50

Marital Status: Married, 2 children

Port operator recently sold his stake in power unit National Grid to Henry Sy Jr. Profits from sale boosted his fortune. Shares in his International Container Terminal Services, which he runs, have nearly doubled since last year on uptick in global trade. Avid golfer.

8. Beatrice Campos

2009 Rank: #13 (+5)

Networth: $840 million

Age: NA

Marital Status: Widowed, 5 children

Late husband Jose Campos cofounded drug firm Unilab, which accounts for biggest portion of family’s wealth. Also has controlling stake in Singapore-listed Del Monte Pacific, run by son Joselito, who recently invested in San Miguel Corp. with Roberto Ongpin (No. 21) and Inigo Zobel (No. 11).

9. George Ty

2009 Rank: #10 (+1)

Networth: $805 million

Age: 77

Marital Status: Married, 5 children

Founded Metrobank, country’s second-largest lender, in his 20s. Profits at the bank, which son Arthur now chairs, were up nearly a third in first quarter. Holds almost 40% of the bank with his children. Metrobank Foundation, which he created nearly 30 years ago, supports health care, art and education projects.

10. Eduardo Cojuangco Jr.

2009 Rank: #7 (-3)

Networth: $760 million

Age: 75

Marital Status: Married, 4 children

Recently sold an option to buy out his stake in San Miguel Corp., one of Asia’s largest food and beverage companies, to Top Frontier, an investor group led by Roberto Ongpin (No. 21). Surprise move sparked rumors of his ill health, but he remains chief executive.

Source: Forbes