The annual Forbes Billionaires list is out, and of the 2,668 dollar billionaires in the world in 2022, 20 are from the Philippines. Businessman and former politician Manny Villar topped the list once again with a total net worth of $8.3 billion as of April 2022. The heirs of the late industrialists Henry Sy Sr. and John Gokongwei Jr. are also among the top 20, while Lucio Tan, the last taipan of his generation, also maintained his spot on the list.
Monde Nissin president Betty Ang debuted on the list after the company’s long-awaited IPO finally happened in 2021. Joining the newcomer were Maria Grace Uy and Dennis Anthony, the husband-wife team behind rising broadband provider Converge. Nari, Ramesh, and Sunder Genomal were also named among the Philippines' richest. The brothers are behind Page Industries, a Bombay Stock Exchange-listed company, although all three Genomals were born in the Philippines and hold Philippine citizenship.
Here’s a breakdown of the 20 wealthiest people in the Philippines in 2022.
1| Manuel Villar
Net worth: $8.3 billion
Age: 72
Industry: Real estate
Businesses: Vista Land & Lifescapes, Golden Bria Holdings, Vistamalls
2| Enrique Razón Jr.
Net worth: $6.7 billion
Age: 62
Industry: Logistics
Businesses: International Container Terminal Services, Inc., Bloomberry Resorts Corp. (developer of Solaire)
3| Henry Sy, Jr.
Net worth: $2.8 billion
Age: 69
Industry: Diversified
Businesses: SM Investments Corp. (heads SM Development Corporation)
4| Andrew Tan
Net worth: $2.8 billion
Age: 70
Industry: Diversified
Businesses: Alliance Global Group, Megaworld Corporation, Empire East Land Holdings, Emperador, Travellers International Hotel Group (Resorts World Manila)
5| Hans Sy
Net worth: $2.6 billion
Age: 66
Industry: Diversified
Businesses: SM Investments Corp. (heads China Banking Corporation)
6| Herbert Sy
Net worth: $2.6 billion
Age: 65
Industry: Diversified
Businesses: SM Investments Corp.
7| Harley Sy
Net worth: $2.4 billion
Age: 62
Industry: Diversified
Businesses: SM Investments Corp.
8| Teresita Sy-Coson
Net worth: $2.4 billion
Age: 71
Industry: Diversified
Businesses: SM Investments Corp. (heads BDO Unibank)
9| Elizabeth Sy
Net worth: $2.1 billion
Age: 69
Industry: Diversified
Businesses: SM Investments Corp. (heads SM Hotels and Conventions Corporation)
10| Ramon Ang
Net worth: $2 billion
Age: 68
Industry: Food & Beverage
Businesses: San Miguel Corporation
11| Lance Gokongwei
Net worth: $1.6 billion
Age: 54
Industry: Diversified
Businesses: JG Summit Holdings, Robinsons Retail Holdings, Universal Robina Corporation, Cebu Air
12| Tony Tan Caktiong
Net worth: $1.3 billion
Age: 69
Industry: Food & Beverage
Businesses: Jollibee Food Corporation
13| Betty Ang
Net worth: $1.2 billion
Age: 67
Industry: Food & Beverage
Businesses: Monde Nissin Corporation
14| Lucio Tan
Net worth: $1.2 billion
Age: 87
Industry: Diversified
Businesses: LT Group, Philippine Airlines, Asia Brewery, Tanduay Distillers
15| Maria Grace Uy
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Net worth: $1.2 billion
Age: 53
Industry: Telecommunications
Businesses: Converge ICT Solutions
16| Nari Genomal
Net worth: $1 billion
Age: 82
Industry: Fashion and retail
Businesses: Page Industries
17| Ramesh Genomal
Net worth: $1 billion
Age: 71
Industry: Fashion and retail
Businesses: Page Industries
18| Sunder Genomal
Net worth: $1 billion
Age: 68
Industry: Fashion and retail
Businesses: Page Industries
19| Roberto Ongpin
Net worth: $1 billion
Age: 85
Industry: Diversified
Businesses: Alphaland, Atok-Big Wedge Company
20| Dennis Anthony Uy
Net worth: $1 billion
Age: 55
Industry: Telecommunications
Businesses: Converge ICT Solutions
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Understanding the Forbes List
Every year, Forbes analyzes stock prices, exchange rates, and public stockholder information to rank the massive wealth of the world’s richest. Since Forbes began tracking billionaires in 1987, it’s found that there are 19 times as many billionaires now than before, and their combined wealth has skyrocketed by 1,600 percent (adjusted for inflation).
For the last five years, the world’s richest list has looked the same: the top five are once again Tesla tycoon Elon Musk, Amazon founder Jeff Bezos, LVMH chief Bernard Arnault, Microsoft founder Bill Gates, and business magnate Warren Buffett.
But this year has some surprising new changes: for the first time, Musk beat Jeff Bezos for the top spot on the annual list after Tesla stock prices surged. Mega superstar Rihanna joined the list after her luxury beauty and lingerie brands made her Barbados’ first billionaire. The famed director of Lord of the Rings, Peter Jackson, became a billionaire after selling his stake in a top-tier digital visual effects studio. Another newcomer to the list is Melanie Perkins, the founder of Canva who’s publicly committed to donating her billions away before she dies. And crypto king Changpeng Zhao, the founder of Binance, debuted as the richest man in Canada and in crypto.
In total, the 2,668 billionaires of 2022 have a combined wealth of $12,700 billion (or $12.7 trillion). To put that into perspective, their combined net worth is richer than China’s entire GDP, and if these billionaires created their own country and economy, they’d give the U.S.A. a run for their money.
Unsurprisingly, the U.S.A. houses the most billionaires in the world, followed by China and India. And surprisingly, generational wealth did not dominate the list this year. Over 70 percent of the world’s billionaires are self-made and built their companies from the ground up. Only 30 percent inherited their wealth, such as the heirs of L’Oreal, Estee Lauder, and Walmart.
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