Henry Sy's heirs emerge richest in PH – Forbes

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The Sy family with the late taipan Henry Sy, Sr. (FILE PHOTO)

Metro Manila (CNN Philippines, September 26) — The heirs of the late SM Group founder Henry Sy, Sr. emerged as the richest in the Philippines in 2019, displacing property tycoon Manny Villar as a far second.

Global magazine Forbes released the Philippines' 50 Richest list on Wednesday, which showed the Sy siblings regaining the top spot with a combined net worth of $17.2 billion.

Sy was the richest man in the country for 11 straight years until his death last January.

Villar, a former senator turned property magnate, followed with $6.6 billion to his name. The 93-year-old John Gokongwei, Jr., who counts the Robinsons mall chains and budget carrier Cebu Pacific in his empire, came third with $5.3 billion.

Completing the list are port operator Enrique Razon, Jr., Jaime Zobel de Ayala of the diversified Ayala Corporation, LT Group founder Lucio Tan, Jollibee Foods Corporation chief Tony Tan Caktiong, and San Miguel Corporation's Ramon Ang.

Forbes' list of 10 richest in the Philippines

Four other groups of next-generation tycoons who inherited the family's wealth made it to the Top 50 list: the children of the late Metrobank founder George Ty received $2.6 billion to score the 9th place; the sons and daughters of builder David Consunji at the 13th spot with $2 billion; and the children of Mercury Drug founder Mariano Que led by Vivian Que Azcona at 18th place, worth $1.15 billion.

Jocelyn, Joselito, and Jeffrey Campos — heirs to the Unilab pharmaceutical firm — ranked 23rd with $650 million in combined net worth.

The Forbes list counts 18 Filipinos with a net worth of more than $1 billion.

Meanwhile, Forbes noted Filinvest's Mercedes Gotianun as the "biggest gainer" on the list, as she saw her net worth nearly double to $2.2 billion.

Forbes' 50 richest list can be found here:

1. Sy siblings ($17.2 billion)

2. Manuel Villar ($6.6 billion)

3. John Gokongwei, Jr. ($5.3 billion)

4. Enrique Razon, Jr. ($5.1 billion)

5. Jaime Zobel de Ayala ($3.7 billion)

6. Lucio Tan ($3.6 billion)

7. Tony Tan Caktiong ($3 billion)

8. Ramon Ang ($2.8 billion)

9. Ty siblings ($2.6 billion)

10. Andrew Tan ($2.55 billion)

11. Iñigo & Mercedes Zobel ($2.5 billion)

12. Mercedes Gotianun ($2.2 billion)

13. Consunji siblings ($2 billion)

14. Lucio and Susan Co ($1.8 billion)

15. Roberto Ongpin ($1.75 billion)

16. Eduardo Cojuangco ($1.5 billion)

17. Roberto Coyiuto, Jr. ($1.35 billion)

18. Vivian Que Azcona & siblings ($1.15 billion)

19. Ricardo Po, Sr. ($950 million)

20. William Belo ($870 million)

21. Dean Lao ($840 million)

22. Dennis Uy ($660 million)

23. Campos siblings ($650 million)

24. Carlos Chan ($610 million)

25. Delfin J. Wenceslao, Jr. ($500 million)

26. Jacinto Ng ($480 million)

27. Oscar Lopez ($460 million)

28. Edgar Sia ($400 million)

29. Manuel Zamora ($360 million)

30. Frederick Dy ($355 million)

31. Mariano Tan, Jr. ($350 million)

32. Jorge Araneta ($330 million)

33. Tomas Alcantara ($300 million)

34. Edgar Saavedra ($260 million)

35. Michael Cosiquien ($250 million)

36. Wilfred Steven Uytengsu, Jr. ($240 million)

37. Alfredo Yao ($235 million)

38. Jose Antonio ($215 million)

39. Necisto Sytengco ($210 million)

40. P.J. Lhuillier ($208 million)

41. Eusebio Tanco ($205 million)

42. Jose Ma Concepcion ($200 million)

43. Erramon Aboitiz ($165 million)

44. Philip Ang ($160 million)

45. Juliette Romualdez ($150 million)

46. Felipe Gozon ($145 million)

47. Betty Ang ($141 million)

48. Bienvenido Tantoco, Sr. ($140 million)

49. Antonio Lee Tiu ($135 million)

50. Menardo Jimenez ($130 million)