Philippines’ 5 richest billionaires see $5.6B surge in combined net worth

1. Manuel Villar, chairman of property developer Vista Land & Lifescapes

Manuel Villar, chairman of Vista Land & Lifescapes. Photo from Wikipedia/Vllofficial

Real estate tycoon Manuel Villar, 74, is the richest among the Filipino billionaires on Forbes’ real-time billionaire list.

A large part of his wealth is concentrated in the real estate investment.

He currently chairs Vista Land & Lifescapes, a developer with six subsidiaries that span several industries, including residential property, retail and business process outsourcing, resorts, hotels, clubs, and spas.

His most valuable investment is his stake in developer Golden MV Holdings, which specializes in mass housing projects and memorial parks.

Villar has also planned to invest in the free-to-air television industry and a casino and theme park in Manila, the Philippines’ capital.

His net worth is estimated at US$11 billion as of March 12, up $2.4 billion from the previous year, according to Forbes.

2. Enrique Razon Jr., chairman of port operator International Container Terminal Services

Enrique Razon Jr., chairman of International Container Terminal Services. Photo from Wikipedia

Enrique Razon Jr., 64, chairs the country’s leading port management firm International Container Terminal Services.

The company was founded by his grandfather in 1916.

Aside from that, he also branched out into the real estate industry with Bloomberry Resorts, the developer of luxury resort complex Solaire Resort and Casino.

His net worth surged from $7.3 billion last year to $10 billion this year, according to Forbes.

3. Ramon Ang, president, vice chairman and CEO of conglomerate San Miguel Corporation

Ramon Ang, president, vice chairman and CEO of San Miguel Corporation. Photo from Ramon Ang's Facebook

Ramon Ang, 70, garnered his fortune through San Miguel, one of the oldest conglomerates in the country, the South China Morning Post reported.

The firm started out as a brewer and then gradually expanded to become a market leader in the Philippines’ food and beverage industry.

San Miguel later ventured into multiple industries, including power facilities and infrastructure development.

He has a net worth of $3.5 billion as of March 12, up $100 million from 2023, Forbes estimated.

4. Lucio Tan, founder and chairman of holding company LT Group

Lucio Tan, founder and chairman of LT Group. Photo from Wikipedia

Business magnate Lucio Tan, 89, started his career with brewer Asia Brewery in 1982.

It was the only brewer aside from San Miguel in the country at that time.

He later founded LT Group and made Asia Brewery its subsidiary.

From then, he has invested in tobacco, liquor, beverages, banking and property development and amassed a net worth of $2.6 billion as of March 12, up $100 million from 2023, according to Forbes.

5. Hans Sy, chairman of property developer SM Prime

Hans Sy, chairman of SM Prime. Photo courtesy of the company

Hans Sy, 68, along with his five siblings, inherited the SM Investments retail and property fortune from his father, Henry Sy Sr.

He serves as the chairman and non-executive director of SM Prime, a subsidiary of conglomerate SM Investments.

SM Investments started out as a small shoe store called ShoeMart in Manila.

Throughout the year, it grew into the largest conglomerate in the country, with investments in numerous fields, including hospitality, real estate, retail and banking, according to the company’s website.

Hans Sy also chairs private lender China Banking Corporation and the Philippines’ National University.

He gained $200 million in net worth this year, putting his figure at $2.6 billion, according to Forbes.

Among the Sy siblings whose individual net worth ranges from $2-2.5 billion, Hans Sy is the wealthiest.