Philippines' 50 richest ranking sees 2 newcomers

The two new entries are Philippe Jones Lhuillier and Mariano Martinez Jr., who place 48th and 49th, respectively, PhilStar reported, citing the 2025 ranking released in early August.

Lhuillier is the chairman of Cebuana Lhuillier, the country’s largest non-bank financial services firm, and his business interests span hospitality with Le Soleil de Boracay, jewelry through Just Jewels, venture capital via Networld Capital Ventures, and tech with Xpress.ph. He has a net worth of $190 million.

Martinez, whose wealth is estimated at $185 million, has led low-cost housing firm 8990 Holdings since 2013. The firm is listed on the Philippine Stock Exchange but is currently pursuing voluntary delisting.

These two replaced Dennis Uy, who is focusing on cutting debt at his entertainment and telecom firm DITO CME Holdings, and Keng Sun and Peter Mar & family, whose wealth stems from their stake in food company Monde Nissin, according to Forbes.

One of this year’s most notable gainers is the Que Azcona family, owners of drugstore chain Mercury Drug, who jumped from 14th place to 6th as their net worth rose from $1.7 billion to $3.6 billion.

Dennis Anthony and Maria Grace Uy, co-founders of Converge ICT Solutions Inc., saw their wealth jump 74% amid growing clout of the digital economy in the Philippines, as reported by Tatler Asia.

Some 20 listees saw their wealth decline, with William Belo, founder of big-box retailer Wilcon Depot, seeing the biggest percentage drop. His net worth went down by more than 40% to $520 million as his firm’s shares hit an eight-year low in April.

The top five richest in the Philippines remained the same as in 2024. Leading the list are the Sy siblings with a net worth of $11.8 billion. They control SM Investments Corp, a conglomerate spanning shopping malls, supermarkets, residential developments, banking and hotels, according to the Inquirer.

Enrique Razon Jr., the ports and gaming magnate behind International Container Terminal Services and Solaire Resort, ranks second with $11.5 billion.

Real estate tycoon Manuel Villar, whose interests include mass housing, retail, and memorial parks, follows with $11 billion.

In fourth place is Ramon Ang, who leads San Miguel Corporation, a conglomerate spanning food and beverages, power, infrastructure, and fuel. His net worth is $3.75 billion.

Isidro Consunji and siblings claimed fifth place with $3.7 billion, built through their conglomerate DMCI Holdings, which operates in construction, real estate, energy, and mining.