Manny Villar is the new richest man in PH – Forbes

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Metro Manila (CNN Philippines, March 5) — Business magnate Manny Villar has replaced the late retail tycoon Henry Sy Sr. as the richest man in the Philippines, according to a list released by Forbes Magazine Tuesday.

The former Senate President's net worth increased from $5 billion to $5.5 billion, according to Forbes' ranking of the world's billionaires. Villar placed 317th.

Sy, who held the top spot in Forbes' list of the Philippines' billionaires for 11 years in a row from 2008 to 2018, passed away in January 19.

Villar is the chairman of mall operator Starmalls, as well as Vista & Landscapes which is touted as the country's largest homebuilder.

JG Summit founder John Gokongwei followed Villar with a net worth of $5.1 billion, and ranked 343rd in the world. He is then followed by Enrique Razon, Jr., who owns the Solaire Casino and Resort and has a net worth of $4.8 billion.

Here are the country's billionaires, according to Forbes:

1. Manny Villar ($5.5 billion)

2. John Gokongwei Jr ($5.1 billion)

3. Enrique Razon Jr. ($4.8 billion)

4. Lucio Tan ($4.4 billion)

5. Tony Tan Caktiong and family ($3.9 billion)

6. Ramon Ang ($2.9 billion)

7. Andrew Tan ($.27 billion)

8. Hans Sy and Herbert Sy ($2.4 billion)

9. Harley Sy, Henry Sy, Jr., and Teresita Sy-Coson ($2.2 billion)

10. Elizabeth Sy ($1.9 billion)

11. Eduardo Cojuangco and Robert Coyiuto, Jr. ($1.4 billion)

12. Ricardo Po Sr. and family ($1.2 billion)

13. Roberto Ongpin ($1.1 billion)

Amazon's Jeff Bezos takes the world's top billionaire spot, with a net worth of $131 billion. Bill & Melinda Gates Foundation Chair Bill Gates follows Bezos on the second spot with a net worth of $96.5 billion. Gates was also one of the co-founders of technology company Microsoft. In third place is Warren Buffet who runs Berkshire Hathaway which owns more than 60 companies.

Meanwhile, with a net worth of $1 billion, Kylie Cosmetics makeup line owner Kylie Jenner is the youngest self-made billionaire, claiming the 2,057th spot on the list of 2,153.