The Philippines is one of the emerging economies in the world. With over 108 million population, the country is also privileged to have one of South East Asia’s youngest demographics.
According to the World Bank, the Philippines has an Annual GDP Growth Forecast of 6.2% in 2021. The growing middle class, young workforce, substantial remittances, and resilient businesses in the Philippines boost its economic growth.
According to Forbes, 15 of the World’s Billionaires List in 2020 are from the Philippines. Let’s get to know the 25 wealthiest people in the Philippines in 2020.
Top 25 Richest People in the Philippines
- Sy Siblings
- Manuel Villar
- Enrique Razon, Jr.
- Lance Gokongwei & Siblings
- Jaime Zobel de Ayala
- Andrew Tan
- Lucio Tan
- Ramon Ang
- Tony Tan Caktiong
- Lucio and Susan Co
- Mercedes Gotianun
- Ty Siblings
- Vivian Que Azcona & Siblings
- Isidro Consunji & Siblings
- Roberto Ongpin
- Soledad Oppen-Cojuangco
- Ricardo Po, Sr.
- Inigo Zobel
- William Belo
- Robert Coyiuto, Jr.
- Edgar Sia II
- Dennis Uy
- Campos Siblings
- Dean Lao
- Jacinto Ng
Top 25 Richest Persons in the Philippines in 2020 with Their Net Worth and Businesses
1. Sy Siblings ($13.9 Billion)
The number one spot of the richest people in the Philippines belongs to the children of the late tycoon, Henry Sy. They are Teresita, Elizabeth, Henry Jr., Hans, Herbert, and Harley.
Henry Sy Sr. founded ShoeMart in 1958 from a humble beginning, which through the years, was developed into SM Investments. SM Investments expanded their business and is now one of the biggest conglomerates in the Philippines, providing retail, property, banking, and equity investments.
SM Group of Companies:
The retail business is one of the most lucrative industries in the world. SM Group diversifies its retail business into a store network with The SM Store, Savemore, SM Hypermarket, SM Supermarket, Alfamart, WalterMart, and Specialty Stores in strategic and high traffic locations.
SM Prime Holdings, Inc. manages the property business segment of the SM Group. SM Prime is now the largest mall developer in the Philippines. SM has 74 malls in the country and 7 in China. The company reported a revenue of P46.43 billion last year.
SM Investment Inc. has major shareholdings in BDO and China Bank. BDO is the largest bank in the Philippines in terms of market capitalization and AUM (Asset Under Management). China Bank is also one of the most established banks in the country, dating back to 1920.
A giant company like SM continues to develop ventures and form partnerships. Its portfolio includes equity investments in Belle Corporation, 2Go Group, Atlas Mining, Goldilocks, GrabPay, CityMall, Neo Subsidiaries, Neo Associates, and Philippine Urban Living Solutions.
2. Manuel Villar ($5 Billion)
Manuel Villar is a self-made billionaire and currently the richest Filipino in 2020 (among the billionaires). He is the Chairman of Vista Mall, one of the largest mall operators in the Philippines, Vista Land & Landscapes, the largest homebuilder in the country, and AllHome, Philippines’ first one-stop-shop home improvement retailer.
According to South China Morning Post, Manny Villar is the only one from the Forbes’ List of Billionaires in 2020 who has no Chinese nor Spanish blood.
3. Enrique Razon, Jr. ($4.3 Billion)
Enrique Razon, Jr. is the Chairman of International Container Terminal Services, Inc., the Philippines’ leading terminal operator. ICTSI also operates port facilities in 19 countries around the world. The company has 32 terminals across the Asia Pacific, Europe, Middle East, Africa and The Americas.
International Container Terminal Services stock (ICT) one of the best blue-chip stocks in the Philippine Stock Exchange. It has over 257 billion market capitalization. Enrique Razon, Jr. is the second richest man in the Philippines (among the list of billionaires).
4. Lance Gokongwei & Siblings ($4.1 Billion)
The next rank of the wealthiest people in the Philippines are the children of the late magnate John Gokongwei Jr. They are Lance, Robina, Lisa, Faith, Hope, and Marcia.
Their wealth comes from their vast shares from JG Summit, one of the largest and most diversified conglomerates in the Philippines. Their businesses include solid companies like Universal Robina Corporation, Cebu Pacific Air, Robinsons Land Corporation, JG Summit Petrochemicals, and Robinsons Bank.
5. Jaime Zobel de Ayala ($3.6 Billion)
Jaime Zobel de Ayala is the fifth among the ranks of Philippine 50 Richest in 2020. He was the Chairman of Ayala Corporation until 2006, when his son Jaime II took over. Ayala Corporation is the oldest and one of the gigantic conglomerates in the Philippines.
The core businesses of Ayala Group are in real estate, banking, telecommunications, and power. Besides, they also engage in numerous industries, including water, industrial technologies, infrastructure, education, and health.
Ayala Corp. holds a significant stake at Ayala Land, Bank of the Philippine Islands (BPI), Globe Telecom, and AC Energy and Infrastructure. The giant firm has over 517 billion market cap and is included on the PSEI, the Philippine Stock Exchange benchmark index.
6. Andrew Tan ($2.3 Billion)
Andrew Tan is the Chairman of the board of Alliance Global, another giant holding company in the Philippines that operates in the food and beverage, real estate, tourism, entertainment, and gaming infrastructure, and quick-service restaurant business.
Alliance Global’s subsidiaries include Megaworld, Travellers International, Emperador, Inc., and Golden Arches Development Corporation, which holds the master franchise of McDonald’s in the Philippines.
7. Lucio Tan ($2.2 Billion)
Lucio Tan is the founder and Chairman of LT Group, a diversified portfolio of consumer-focused businesses. He also has significant ownership of Philippine Airlines, the flag carrier of the Philippines.
LT Group of companies include Asia Brewery – one of the largest beverage groups in the country, Philippine National Bank – one of the biggest banks, Eton Properties Philippines – real estate business of residential properties, high-rise and mid-rise condominiums, BPO office buildings, and commercial centers, PMFTC, Inc. – a leading cigarette manufacturer in the country.
8. Ramon Ang ($2 Billion)
Ramon Ang is the Vice Chairman, President, and Chief Operating Officer of San Miguel Corporation, one of the Philippines’ largest conglomerates. San Miguel Corporation operates in beverages, food packaging, fuel and oil, power, and infrastructure. San Miguel produces the best-selling beer in the country.
Ramon Ang is also the President and CEO of Top Frontier Investment Holdings Inc. and Petron Corporation. The billionaire is also the Chairman of the board of Eagle Cement.
9. Tony Tan Caktiong ($1.9 Billion)
Tony Tan Caktiong is the founder and Chairman of Jollibee Food Corporation, the Philippines’ largest food service network and now one of the world’s fastest-growing food chains.
Jollibee Food Corp. includes popular subsidiaries and affiliates including Chowking, Greenwich, Red Ribbon, Mang Inasal, Burger King, Hard Rock Café, Dunkin Donuts, Tim Ho Wan Highlands Coffee, and many more.
Tony Tan Caktiong is also a major shareholder of Double Dragon Properties Corp., one of the top listed companies on the Philippine Stock Exchange in terms of market cap.
10. Lucio and Susan Co ($1.7 Billion)
Lucio and Susan Co co-founded Puregold Price Club, one of the fastest-growing supermarket chains in the Philippines. The wealthy couple has a massive stake in Cosco Capital, which owns Puregold and S&R Membership Shopping.
Cosco Capital engages in retail, liquor distribution, commercial real estate, oil, and minerals industries.
11. Mercedes Gotianun ($1.5 Billion)
Mercedes Gotianun is the Chairman Emeritus of Filinvest Development Corporation, one of the greatest conglomerates in the country that operates in real estate, banking, financial services, power, sugar, and infrastructure.
Their diversified portfolio includes Filinvest Land, East West Bank, FDC Utilities, and Pacific Sugar Holdings Corporation.
12. Ty Siblings ($1.4 Billion)
The Ty Siblings inherited their fortune from their late father, George Ty, the founder of Metrobank, one of the Philippines’ most prominent banks. The Ty siblings include Arthur, Alfred, Alesandra, and Anjanette.
The siblings have major stakes at GT Capital and Metrobank, which are among the best blue-chip companies in the Philippines in 2020.
13. Vivian Que Azcona & Siblings ($1.34 Billion)
Vivian Que Azcona is the president of Mercury Drug Corporation. Mercury Drug is the most trusted pharmacy in the Philippines and the largest drugstore chain with over 1,200 stores nationwide. Vivian Que and her siblings hold significant shares of Mercury Drug Corporation.
14. Isidro Consunji & Siblings ($1.3 Billion)
Isidro Consunji is the Chairman and President of DMCI Holdings, one of the Philippines’ largest property development firms. Isidro and his siblings, Josefa, Jorge, Luz, Maria Cristina, and Maria Edwina, inherited their wealth from their late father, David Consunji.
DMCI Holdings has principal subsidiaries, including DM Consunji, Inc., DMCI Project Developers, Inc. Semirara Mining and Power Corporation, DMCI Power Corporation, and DMCI Mining Corporation.
15. Roberto Ongpin ($1.2 Billion)
Roberto Ongpin is the Chairman and CEO of Alphaland Corporation, a top-of-the-line and high-end property developer in the Philippines. Their prestigious projects include Balesin Island Club, Alphaland Baguio Mountain Lodges, Alphaland Makati Place, The City Club, The Alpha Suites, Alphaland Aviation, and Alphaland Corporate Tower.
16. Soledad Oppen-Cojuancgo ($1.15 Billion)
Soledad Oppen-Cojuangco, together with her children, inherited their wealth from the late tycoon, Eduardo Cojuangco. They have massive ownership at San Miguel Corporation, one of the country’s biggest conglomerates, which is into food and beverage, packaging, real estate property, infrastructure, oil refining, power, and energy businesses.
17. Ricardo Po, Sr. & Family ($1 Billion)
Ricardo Po, Sr. is the Founder and Chairman Emeritus of Century Pacific Food, Inc, one of the largest branded food companies in the Philippines. His son Christopher is the Executive Chairman, and Teodoro Alexander is the President and CEO.
The company’s famous brands include Century Tuna, Argentina, 555, Swift, Birch Tree, Angel, Blu Bay, Hunts, and many more. In addition, they hold stakes at Shakey’s Pizza, Pacific Meat Company, Arthaland, and Yoshinoya.
18. Inigo Zobel ($990 Million)
Inigo Zobel is the Chairman of Top Frontier Investment Holdings, Inc. and a Board Director at San Miguel Corporation. He is a cousin of Jaime Zobel de Ayala, one of the Philippines’ Billionaires List. Forbes also reported that Inigo has a stake in Ayala Corporation.
19. William Belo ($900 Million)
William Belo is the Chairman Emeritus of Wilcon Depot, the leading home improvement and construction supplies retailer in the Philippines. The company now has 61 operating stores nationwide.
20. Robert Coyiuto, Jr. ($890 Million)
Robert Coyiuto, Jr. is the Chairman of Prudential Guarantee and Assurance, Inc., one of the leading non-life insurance companies in the Philippines. He is also the Chairman of PGA Cars, an exclusive importer and distributor of luxury cars like Porsche, Audi, Lamborghini, and Bentley in the Philippines.
21. Edgar Sia II ($700 Million)
Edgar Sia II is the Chairman and CEO of Double Dragon Properties Corporation, a fast-growing real estate developer in the Philippines, and MerryMart, a flourishing supermarket chain. He’s the Founder of Mang Inasal, which was later acquired by Jollibee Foods Corp.
22. Dennis Uy ($650 Million)
Dennis Uy is the Founder, Chairman, and CEO of Udenna Corporation, a booming conglomerate diversified in property development, petroleum, shipping, logistics, education, food, gaming, tourism, infrastructure, and telecommunication.
23. Campos Siblings ($600 Million)
Jocelyn, Joselito, and Jeffrey Campos own the majority stake at Unilab, one of the Philippines’ largest pharmaceutical companies. Dating back to 1945, Unilab has been manufacturing and providing healthcare products and medicines especially made for Filipinos.
24. Dean Lao ($500 Million)
Dean Lao is the Co-Founder and Chairman Emeritus of D&L Industries, Inc., a holding company. It operates in customization, development, and manufacturing of food ingredients, colorants, additives, engineered polymers for plastics, aerosol products, and manufacturing of oleochemicals, resins, and powder coating.
25. Jacinto Ng ($490 Million)
Jacinto Ng is the Founder of Republic Biscuit Corporation (Rebisco), one of the leading snack food industries in the Philippines growing globally. Rebisco has the largest shareholding at AUB (Asia United Bank).
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