June 29, 2022

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Villar still the richest among Philippines’ billionaires

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REAL ESTATE tycoon and former politician Manuel B. Villar, Jr. is still the richest Filipino on Forbes’ 2022 World’s Billionaires List, after his net worth jumped by 15% to $8.3 billion (around P426.6 billion).

Mr. Villar ranked 263rd out of the 2,668 billionaires on the Forbes list, climbing 89 spots from the previous year.

A former Senate president and House speaker, Mr. Villar is the founder and chairman of several listed companies including Vista Land & Lifescapes, Inc.; Vistamalls, Inc.; Golden MV Holdings, Inc.; AllHome Corp.; and AllDay Marts, Inc. His VistaREIT, Inc. is planning to conduct an initial public offering this month.

The billionaires’ list included 20 Filipinos, three more than the previous year.

Enrique K. Razon, Jr., chairman of port operator International Container Terminal Services, Inc. (ICTSI), was the second-richest Filipino on the Forbes list, ranking 369 with a net worth of $6.7 billion, up by 34% from last year.

The six children of the late Henry Sy, Sr. were all on the Forbes billionaires list. The SM Group founder was the Philippines’ richest man for 11 consecutive years before his death in 2019.

Henry T. Sy, Jr., chairman of SM Prime Holdings Corp., ranked 1,096 on the list with a net worth of $2.8 billion. His brothers Hans and Herbert were both at 1,196 with a net worth of $2.6 billion each, followed by Harley and Teresita T. Sy-Coson at the 1,292nd spot with $2.4 billion. His sister Elizabeth landed at 1,445th place with $2.1 billion.

Also ranked 1,096 on the list was Alliance Global Group, Inc. Chairman Andrew L. Tan with $2.8 billion.

Ramon S. Ang, president, chief operating officer, and vice-chairman at diversified conglomerate San Miguel Corp. (SMC), ranked 1,513th on the Forbes list with $2 billion.

JG Summit President and Chief Executive Officer (CEO) Lance Y. Gokongwei landed at the 1,818th spot with $1.6 billion, followed by Jollibee Foods Corp. founder Tony Tan Caktiong in 2,190th place with $1.3 billion.


2022-04-06 12:32:27

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