WATCH: The Philippines' Top Billionaires Go Caroling

These billionaires are no Scrooges, they have the Christmas spirit.

In the spirit of Christmas, the Philippines’ biggest tycoons gamely participated in a music video, Happy Christmas by John Lennon.

Included in the video are Lance Gokongwei and his sisters Robina Pe and Lisa Cheng, brothers Jaime Augusto Zobel and Fernando Zobel, Ricky Razon, Tessie Sy Coson, Injap Sia, Sabin Aboitiz, Montxu Aboitiz, Helen Yuchengco Dee, Sid Consunji, and Ramon Ang.

The Ty brothers, Alfred and Arthur, begged off after the death of their father, George Ty.

The clips were recorded over the past month by Dax Lucas, business reporter for the Philippine Daily Inquirer, Clarissa Batino, bureau chief of Bloomberg Philippines and her deputy, Cecille Yap and Iris Gonzales of The Philippine Star. Collectively, they are referred to as The Cabal, a name conferred on them by Lance Gokongwei.

Last year, The Cabal put a video of the tycoons lipsynching to "Do They Know It's Christmas?"

“After last yearâs video, they were all unsurprisingly game,” says Lucas.

“Tessie, Robina, and Lisa have the best singing voices, I think,” said Lucas, who said he edited the video from 3 a.m. to 9 a.m. this morning. “The rest can't sing to save their multi-billion dollar business empires, sadly.”

“Yes, you may quote me,” he said, adding, “Thank goodness they’re amazing businessmen.” 

This story originally appeared on Minor edits have been made by the editors.

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