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Archive for June 22nd, 2012

According to the latest in Forbes

 

1. Henry Sy & family

Net Worth – $9.1 B As of June 2012

Henry Sy & family

At a Glance

  • Age: 87
  • Source of Wealth: Diversified, Self-made
  • Residence: Manila, Philippines
  • Country of Citizenship: Philippines
  • Education: Bachelor of Arts / Science, Far Eastern University
  • Marital Status: Married
  • Children: 6
Forbes Lists
#116ForbesBillionair                                                       

The Philippines’ richest person controls country’s biggest retail group, which includes SM Prime, the Philippines’ largest mall developer, with 42 malls. Group boosted stake in Atlas Consolidated Mining, owned by Alfredo Ramos (No. 30), to 28%; also rumored to be negotiating with Ortigas Group to buy property assets in Manila, worth an estimated $1 billion. Fortune includes son Henry Sy Jr.’s stake in power transmission unit National Grid.

2. Lucio Tan & family

Net Worth – $4.5 B As of June 2012

Lucio Tan & family

 

At a Glance
  • Age: 77
  • Source of Wealth: Diversified, Self-made
  • Residence: Manila, Philippines
  • Country of Citizenship: Philippines
  • Education: Bachelor of Arts / Science, Far Eastern University
  • Marital Status: Married
  • Children: 6

Forbes Lists

#2 The Philippines 40 Richest

Tobacco king sold 49% stake in holding company of troubled Philippine Airlines to San Miguel for a reported $500 million, in April. Owns part of Philip Morris Fortune Tobacco, which has estimated 80% share of cigarette market. Assets include beer maker Asia Brewery and Hong Kong-based Eton Properties. Chemical engineer, mopped floors to pay for school. Enjoys flying helicopters.

3. Enrique Razon, Jr.

 

  Enrique Razon, Jr.       
Net Worth – $3.6 B As of June 2012
At a Glance
  • Age: 52
  • Source of Wealth: Ports
  • Residence: Philippines
  • Country of Citizenship: Philippines
  • Marital Status: Married
  • Children: 2

Forbes Lists

Port operator who controls Manila-listed International Container Terminal Services is this year’s biggest gainer, jumping 4 places to the third spot, following May public offering of Bloomberry Resorts, his new hotel and casino venture. To be managed by Las Vegas-based Global Gaming Asset Management, the casino is expected to open in Manila in 2013.

4. John Gokongwei, Jr. & family

Net Worth – $3.2 B As of June 2012
John Gokongwei, Jr. & family
At a Glance
  • Age: 84
  • Source of Wealth: Diversified
  • Residence: Manila, Philippines
  • Country of Citizenship: Philippines
  • Education: La Salle College
  • Marital Status: Married
  • Children: 6
Stock price of his conglomerate JG Summit, chaired by brother James Go, hit historical high in May as net income in the first quarter jumped 76%. Announced $1.2 billion spending plan this year, partly to expand fleet of budget carrier Cebu Air, run by son Lance, and open 3 new malls under property arm Robinsons Land.

5. David Consunji & family

Net Worth – $2.7 B As of June 2012
David Consunji & family
At a Glance
  • Age: 90
  • Source of Wealth: Construction, Self-made
  • Residence: Manila, Philippines
  • Country of Citizenship: Philippines
  • Marital Status: Married
  • Children: 8
Founder of construction firm DMCI, now run by son Isidro, saw net profits at his Semirara Mining rising more than 50% in 2011. Expanded mining interests by acquiring minority stake in Atlas Consolidated Mining & Development, in which Sy’s SM Investment also has stake. DMCI shares have risen nearly 20-fold since 2008

6. Andrew Tan

Net Worth – $2.3 B As of June 2012
Andrew Tan
At a Glance
  • Age: 59
  • Source of Wealth: Diversified, Self-made
  • Residence: Philippines
  • Country of Citizenship: Philippines
  • Education: Bachelor of Arts / Science, Far Eastern University
  • Marital Status: Married
  • Children: 4
Former kitchen-appliance salesman made his first fortune in brandy. His Alliance Global has interests in food and beverages, real estate, gaming, power. Net profit soared 68% in 2011 to $280 million on booming property business. Liquor arm Emperador Distillers bought Diageo’s Philippines bottling plant in May for undisclosed sum.

7. Jaime Zobel de Ayala & family

Net Worth – $2.2 B As of June 2012
At a Glance
  • Age: 77
  • Source of Wealth: Diversified
  • Residence: Manila, Philippines
  • Country of Citizenship: Philippines
  • Education: Harvard University; De La Salle University
  • Marital Status: Married
  • Children: 7
Chairman emeritus of Ayala Corp., which ceded spot as country’s biggest family conglomerate to Aboitiz family’s Aboitiz Equity Ventures. Group plans to invest $2.1 billion this year in property development, telecoms, infrastructure. Jaime Augusto, eldest son, is chairman. Along with Enrique Razon Jr., Tony Tan Caktiong (No. 12) and others, traveled in June with President Benigno Aquino to the U.K. and the U.S. to drum up investment in the Philippines.

8. George Ty & family

Net Worth – $1.7 B As of June 2012
George Ty & family
At a Glance
  • Age: 79
  • Source of Wealth: Banking
  • Residence: Manila, Philippines
  • Country of Citizenship: Philippines
  • Marital Status: Married
  • Children: 5
Founder of Metropolitan Bank, the country’s second-largest lender. Took family holding company, GT Capital, public in April, raising $330 million. Also has stakes in Toyota Motor Philippines, AXA Philippines, Global Business Power Corp. Son Arthur has been Metrobank’s chairman since 2006.

9. Roberto Ongpin

Net Worth – $1.5 B As of June 2012
Roberto Ongpin
At a Glance
  • Age: 75
  • Source of Wealth: Diversified, Self-made
  • Residence: Philippines
  • Country of Citizenship: Philippines
  • Education: Master of Business Administration, Harvard University
  • Marital Status: Married
  • Children: 4
Former minister of trade under Marcos regime. Top Frontier, investment firm he heads, has controlling interest in San Miguel. Atok-Big Wedge, largest part of his fortune, announced plans to shift from mining to oil and gas exploration. Says his listed net worth is overstated as it doesn’t take all his debts into consideration. Certified public accountant, Harvard Business School graduate.

10. Eduardo Cojuangco

Net Worth – $1.4 B As of June 2012
Eduardo Cojuangco
At a Glance
  • Age: 77
  • Source of Wealth: Food & drinks, Self-made
  • Residence: Philippines
  • Country of Citizenship: Philippines
  • Education: Bachelor of Arts / Science, Lafayette College
  • Marital Status: Married
  • Children: 4
Controls San Miguel, once Southeast Asia’s largest food and beverage conglomerate, now with interests in power, infrastructure, heavy industry. In April it announced plans to take control of rival beermaker Lucio Tan’s lossmaking Philippine Airlines for $500 million. He’s rumored to be in ill health.

11. Robert Coyiuto, Jr.

Net Worth – $1.3 B As of June 2012
Robert Coyiuto, Jr.
At a Glance
  • Age: 59
  • Source of Wealth: Power
  • Country of Citizenship: Philippines
  • Marital Status: Married
Biggest asset is stake in power transmission firm National Grid, in which Henry Sy Jr. has 30% stake. Fortune up on better information about company’s value. President of Oriental Petroleum & Minerals; owner of luxury car dealerships.

12. Tony Tan Caktiong & family

Net Worth – $1.25 B As of June 2012
Tony Tan Caktiong & family
At a Glance
  • Age: 59
  • Source of Wealth: Fast food, Self-made
  • Residence: Philippines
  • Country of Citizenship: Philippines
  • Marital Status: Married
  • Children: 3
His Jollibee Foods, country’s largest fast-food company, has nearly a dozen different chains, including Chowking, Greenwich Pizza; more than 2,000 stores in the Philippines and 500 overseas. Plans to expand into Singapore, Indonesia, India. Says international stores, which now account for 20% of sales, will equal domestic sales by 2017. Line of customers greeted recent opening of Jollibee in Jersey City, its second outlet in N.Y. metro area.

13. Lucio and Susan Co

Net Worth – $1.2 B As of June 2012
Lucio and Susan Co
At a Glance
  • Source of Wealth: Retailing, Self-made
  • Residence: Philippines
  • Country of Citizenship: Philippines
  • Marital Status: Married
  • Children: 3
Started with one hypermarket in 1998. Today their Puregold Price Club is country’s second-largest retailer (after Henry Sy’s SM Group), with more than 70 hypermarkets, supermarkets and discount stores. It targets low- and middle-income consumers and small convenience store owners. Took company public last September raising $170 million; stock price has doubled since. Share fortune with children, 2 of whom sit on board. Lucio is chairman and chief executive, Susan is treasurer.

14. Inigo & Mercedes Zobel

Net Worth – $1.15 B As of June 2012
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At a Glance
  • Age: 56
  • Source of Wealth: Diversified
  • Residence: Philippines
  • Country of Citizenship: Philippines
Shares of Ayala Corp., in which siblings inherited minority stake from their late aunt, climbed as company posted record earnings in its real estate, banking and water units. Other assets include 25% stake in San Miguel, through Ongpin-led Top Frontier. Inigo was appointed to board of Philippine Airlines in April after San Miguel took controlling stake in the carrier.

15. Emilio Yap

Net Worth – $1.1 B As of June 2012
At a Glance
  • Age: 86
  • Source of Wealth: Diversified
  • Residence: Philippines
  • Country of Citizenship: Philippines
  • Marital Status: Married
Chairman of newspaper Manila Bulletin also has interests in construction, hospitality, education, but biggest source of wealth is stake in 96-year-old Philtrust Bank, of which he’s chairman emeritus. Fortune, which he shares with children and grandchildren, tops $1 billion for first time.

16. Jon Ramon Aboitiz & family

Net Worth – $955 M As of June 2012
Jon Ramon Aboitiz & family
At a Glance
  • Age: 63
  • Source of Wealth: Diversified
  • Residence: Philippines
  • Country of Citizenship: Philippines
  • Education: Bachelor of Arts / Science, Santa Clara University
  • Marital Status: Married

Chairs Aboitiz Equity Ventures country’s most valuable family conglomerate, with a market cap of $6.4 billion. Its growing power business boosted net profits to $500 million last year. Sits on board of Enrique Razon’s International Container Terminal Services. Shares fortune with brothers Mikel and Roberto.

17. Andrew Gotianun & family

Net Worth – $825 M As of June 2012
Andrew Gotianun & family
At a Glance
  • Age: 84
  • Source of Wealth: Real estate
  • Residence: Philippines
  • Country of Citizenship: Philippines
  • Marital Status: Married
  • Children: 4
Founder, chairman emeritus of conglomerate Filinvest Development, took banking arm Eastwest public in April. Filinvest Land, listed property unit, is building 12,000 new residences this year. Son Jonathan is chairman, daughter Josephine chief executive.

18. Manuel Villar

Net Worth – $720 M As of June 2012
Manuel Villar
At a Glance
  • Age: 62
  • Source of Wealth: Real estate
  • Residence: Philippines
  • Country of Citizenship: Philippines
  • Marital Status: Married
  • Children: 3
Longtime senator and former presidential candidate, his Villar Group is country’s largest home builder. He controls Vista Land & Lifescapes and Polar Property Holdings, both listed companies. Plans to launch 8 condo projects this year. Eldest son, Paolo, a Wharton grad, runs Vista; younger son Mark is a congressman.

19. Beatrice Campos & family

Net Worth – $700 M As of June 2012
At a Glance
  • Source of Wealth: Pharma
  • Country of Citizenship: Philippines
  • Marital Status: Widowed
  • Children: 5
Gets bulk of fortune from drugmaker Unilab, cofounded by late husband and run by grandson Clinton Campos Hess. Family’s Singapore-listed Del Monte Pacific reported over 70% jump in net profits in 2011, partly on better sales and margins in Europe. Son Joselito is Del Monte’s chief executive. Daughter Jocelyn chairs Unilab.

20. Vivian Que Azcona & family

Net Worth – $690 M As of June 2012
At a Glance
  • Source of Wealth: Retail
  • Residence: Philippines
  • Country of Citizenship: Philippines
President of Mercury Drug, privately held drugstore chain with more than 700 stores. It is ranked among country’s top 5 corporate taxpayers. Father, Mariano Que, who founded company, was recently named the “Father of Health and Wellness Retailing” by country’s retailing association.

21. Alfonso Yuchengco & family

Net Worth – $570 M As of June 2012
Alfonso Yuchengco & family
At a Glance
  • Age: 89
  • Source of Wealth: Diversified
  • Residence: Philippines
  • Country of Citizenship: Philippines
  • Education: Bachelor of Arts / Science, Far Eastern University
  • Marital Status: Widowed
  • Children: 8
His sprawling Yuchengco Group has interests in more than 60 businesses, including controlling stake in Rizal Commercial Bank, among country’s top 5 banks by assets. In April Supreme Court affirmed a libel award against the now defunct Manila Chronicle, owned by Robert Coyiuto Jr., which had published article calling him a Marcos crony and corporate raider. Former ambassador to China, Japan, Germany.

 22 Mariano Tan, Jr.

Mariano Tan, Jr.

$420 50
23 Enrique Aboitiz & family

Enrique Aboitiz & family

$400 90
24 Eric Recto

Eric Recto

$365 49
25 Jose Antonio

Jose Antonio

$300 65
26 Gilberto Duavit & family

Gilberto Duavit & family

$270 77
27 Menardo Jimenez

Menardo Jimenez

$265 80
28 Frederick Dy

Frederick Dy

$260 57
29 Manuel Zamora

Manuel Zamora

$255 72
30 Alfredo Ramos & family

Alfredo Ramos & family

$250 68
31 Oscar Lopez & family

Oscar Lopez & family

$245 82
32 Felipe Gozon & family

Felipe Gozon & family

$240 72
33 Betty Ang

Betty Ang

$235
34 Wilfred Steven Uytengsu, Jr. & family

Wilfred Steven Uytengsu, Jr. & family

$230 50
35 Juliette Romualdez

Juliette Romualdez

$200
36 Bienvenido Tantoco, Sr. & family

Bienvenido Tantoco, Sr. & family

$195 91
37 Jacinto Ng

Jacinto Ng

$190
38 Tomas Alcantara & family

Tomas Alcantara & family

$160 66
39 Michael Cosiquien

Michael Cosiquien

$150 38
40 Edgar Sia

Edgar Sia

$140 35

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