16 Richest Filipinos in Forbes' World’s Billionaires List 2024

American business magazine Forbes just released its annual list of the world's billionaires in 2024. According to Forbes, "there are now more billionaires than ever" amid the problems in the global stock market, political unrest around the world, and inflation. There are 2,781 billionaires in all, with the U.S. having a record of 813 billionaires and China coming in second at 473 billionaires.

A total of 16 Filipinos made it to the World's Billionaires List, with Manuel Villar leading the pack with a net worth of $11 billion. The tycoon and former politician's wealth is continuous to grow year after year, as recorded by Forbes.

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These are the 16 richest Filipinos in the Forbes World’s Billionaires List 2024 and their net worth:

190| Manuel "Many" Villar ($11 billion)

Manny Villar, chairman of Vista Land & Lifescapes, oversees the company's operations, which is managed by his son, Manuel Paolo. In June 2022, the company introduced VistaREIT, a real estate investment trust, featuring an initial portfolio comprising 10 shopping malls and two office towers. Villar's significant asset lies in his stake in Golden MV Holdings (formerly Golden Bria), known for its mass housing projects and memorial parks.

Additionally, he holds interests in four other publicly listed entities, including Vistamalls, AllHome, AllDay Marts, and Premiere Island Power REIT. His wife Cynthia and son Mark serve as senators in the Philippines, while daughter Camille represents their hometown, Las Pinas, in southern Metro Manila as a congresswoman.

224| Enrique Razon Jr. ($10 billion)

Enrique Razon Jr. serves as the chairman of International Container Terminal Services (ICTSI), a prominent port operator in the Philippines. ICTSI extends its reach through subsidiaries across the Asia-Pacific, Eastern Europe, Africa, and the Americas. The roots of Razon's involvement in the industry trace back to his grandfather's establishment of a port in Manila in 1916, which his father reconstructed following World War II. Razon has since expanded the family business into a global enterprise. Notably, his hospitality venture, Bloomberry Resorts, boasts the esteemed Solaire Resort and Casino in the Philippines as its flagship property.

920| Ramon Ang ($3.5 billion)

Ramon Ang holds the position of president and vice chairman of San Miguel Corp. Initially recognized as a brewery, San Miguel has evolved into a conglomerate with not only food and beverage products, but also ventures in power and infrastructure. Among its ambitious proposals is the development of a $15 billion airport and city complex, slated for a sprawling 2,500-hectare expanse along Manila Bay.

In 2021, the company allocated $1 billion towards the construction of 31 battery energy storage systems across the Philippines, boasting a combined capacity of 1,000 megawatts. Notably, it successfully launched 90-megawatt facilities in Bataan in early 2023. Additionally, in February 2023, Ang oversaw the delisting of his Bulacan-based cement maker, Eagle Cement, subsequent to its acquisition by San Miguel.

1286| Hans Sy ($2.6 billion)

Hans Sy, the fourth offspring of the late Henry Sy Sr., founder of SM Investments, holds significant roles within the family business. Having relinquished his position as president of subsidiary SM Prime, a prominent property developer, in 2016, he continues to contribute as a director. Notably, his siblings Teresita, Elizabeth, Henry Jr., Harley, and Herbert, all actively participate in the enterprise. All six Sy siblings are part of the Forbes list with a combined wealth of $14 billion.

Beyond his involvement in SM Prime, Sy also assumes advisory roles within SM Investments, serves as chairman of China Banking Corporation, and chairs the board of the National University. In a significant move towards environmental responsibility, SM Investments, under Sy's guidance, orchestrated the acquisition of Philippine Geothermal Production in April 2022, amounting to a substantial $304 million, all-share transaction aimed at reducing the conglomerate's carbon footprint.

1330| Henry Sy Jr. ($2.5 billion)

Henry Sy Jr., eldest son of SM Investments founder Henry Sy Sr, serves as the copany's co-vice chairman. He also assumes the position of chairman at SM Prime, the group's property arm with diverse interests encompassing malls, residences, offices, hotels, and convention centers.

In 2017, he spearheaded the establishment of Big Boss Cement, marking the conglomerate's foray into an industry buoyed by former President Duterte's extensive infrastructure initiatives.

1330| Herbert Sy ($2.5 billion)

Herbert Sy is an adviser within SM Investments and director at SM Prime. He is the second-youngest among six siblings.

1330| Lucio Tan ($2.5 billion)

Lucio Tan, the founder and chairman of LT Group, oversees a diversified conglomerate with interests spanning tobacco, spirits, banking, and property development. In 1982, he established Asia Brewery, which is now a subsidiary of LT Group.

Tan's grandson and heir apparent, Lucio Tan III, assumed the presidency of both LT Group and PAL Holdings in May 2023. PAL Holdings, the parent company of Philippine Airlines, marked a significant turnaround in 2021, achieving profitability after enduring four years of losses, following successful debt restructuring.

1380| Harley Sy ($2.4 billion)

Harley Sy, the youngest among Henry Sy's six children, is the executive director of SM Investments. He also holds directorial positions at China Banking and is an adviser at BDO Private Bank. Additionally, he assumes the role of co-vice chairman at SM Retail, a subsidiary with diverse retail chains, including Ace Hardware and Toy Kingdom.

1438| Teresita Sy-Coson ($2.3 billion)

Teresita Sy-Coson, the eldest child of the founder, is the vice chairperson at SM Investments. She is also the chairperson at BDO Unibank.

1545| Elizabeth Sy ($2.1 billion)

Elizabeth Sy has served as an advisor at SM Investments since 2012. She also holds the positions of president and chairman at SM Hotels and Conventions Corp., overseeing a portfolio of nine hotels, including several Radisson properties. The second child of the late Henry Sy, she started out in the hospitality industry as an assistant at her father's inaugural hotel venture, the Manila Royal Hotel.

1623| Andrew Tan ($2 billion)

Andrew Tan leads Alliance Global, a holding company with investments spanning food and beverage, gaming, hospitality, and real estate sectors. Alliance Global is the parent company of Emperador, recognized as the world's largest brandy company in terms of sales volume. His son, Kevin, holds the positions of chief executive at Alliance Global and chief strategy officer at Megaworld, the conglomerate's property development arm.

2152| Tony Tan Caktiong ($1.4 billion)

Tony Tan Caktiong is the founder and chairman of Jollibee Corp., which stands as one of the fastest-growing in the world. It now operates close to 3,300 food outlets within the Philippines and over 3,400 stores internationally. Caktiong, alongside Edgar Sia II, also holds a significant stake in the real estate developer DoubleDragon Corporation.

2410| Lucio Co ($1.2 billion)

Lucio Co, alongside his wife Susan, serves as chairman of Puregold Price Club. Established in 1998 with a single location in Mandaliyong, the chain now has over 500 stores throughout the Philippines. They also lead Cosco Capital, a publicly listed entity with investments in liquor distribution and real estate ventures.

2545| Susan Co ($1.1 billion)

Susan Co is vice-chairman of Puregold Price Club.

2545| Lance Gokongwei ($1.1 billion)

Lance Gokongwei is the only son of the late John Gokongwei Jr., who founded JG Summit (or Gokongwei Group). The conglomerate has diversified its interests across various sectors, including airlines, telecommunications, banking, food, power, property, and retail.

2692| William Belo ($1 billion)

William Belo is the founder and chairman emeritus of Wilcon Depot. What began as a 645-square-meter warehouse in Quezon City is now a big-box retailer that sells electrical, plumbing, houseware, and furniture items.