Filipino Billionaires See Significant Wealth Surge
The combined net worth of the top five Filipino billionaires, whose portfolios encompass food and beverages, property, and retail, has surged by $5.6 billion this year.
Manuel Villar, aged 74, chairs property developer Vista Land & Lifescapes. Part of his wealth is tied to real estate investment, notably through his leadership at Vista Land & Lifescapes, which oversees six subsidiaries spanning various industries, including residential property, retail, and resorts. His net worth reached $11 billion as of March 12, a $2.4 billion increase from the previous year.
Enrique Razon Jr., at the age of 64, leads the country’s foremost port management firm, International Container Terminal Services, founded by his grandfather in 1916. Additionally, he ventured into real estate with Bloomberry Resorts, developer of the luxury resort complex Solaire Resort and Casino. Razon’s net worth surged from $7.3 billion to $10 billion this year.
Ramon Ang, 70, amassed his fortune through San Miguel Corporation, one of the oldest conglomerates in the Philippines. Starting as a brewer, San Miguel expanded into various industries, including food and beverages, power facilities, and infrastructure development. Ang’s net worth stands at $3.5 billion as of March 12, up $100 million from the previous year.
Lucio Tan, 89, began his career with brewer Asia Brewery in 1982, eventually founding LT Group and making Asia Brewery its subsidiary. His investments range from tobacco, liquor, and beverages to banking and property development, resulting in a net worth of approximately $2.6 billion as of March 12, a $100 million increase from 2023.
The 68-year-old Hans Sy inherited the SM Investments retail and property fortune from his father, Henry Sy Sr. He chairs property developer SM Prime and serves as chairman of private lender China Banking Corporation and the Philippines’ National University. Sy’s net worth rose by $200 million this year to reach $2.6 billion, making him the wealthiest among the Sy siblings.
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