More Filipinos join Forbes billionaires’ list for this year

MORE FILIPINOS emerged among the world’s billionaires, according to Forbes, as the global list expanded to a record 2,043 and at the biggest increase in 31 years.

Fourteen of the country’s tycoons landed on the 31st edition of “The World’s Billionaires,” as featured in the March issue of Forbes magazine.

The previous list counted 11 Filipinos in the circle that consisted of 1,810 billionaires at the time.

SM Investments Corp. Chairman Henry Sy, Sr. again topped other Filipino businessmen in the ranking, being the lone Filipino to make the top 100.

The 92-year-old, however, dropped to 94th place from 71st following a decline in his net worth to $12.7 billion from $12.9 billion.

Founded in 1960, SM Investments has become the largest retailer in the Philippines, with interests in the banking and property sectors. It announced the merger of the Sy family’s retail businesses into SM Retail, Inc. in February 2016 and a partnership with online retailer Lazada the following month.

“Sy studied retail at his father’s elbow in the family convenience store. Not satisfied with merely filling dad’s shoes, he saved up to start a footwear shop, the humble origins of his empire,” Forbes noted in profile posted on its Web site.

JG Summit Holdings, Inc. Chairman Emeritus John L. Gokongwei, Jr., 90, remained the country’s second wealthiest

billionaire, climbing to 250th place globally from 270th after growing his net income to $ 5.8 billion from $5 billion.

LT Group, Inc. Chairman Lucio C. Tan and GT Capital Holdings, Inc. Chairman George S.K. Ty also managed to maintain their positions as the country’s third- and fourth-wealthiest.

Mr. Tan, 82, dropped to the 501st place globally from 380th after his net worth declined to $3.7 billion from $4 billion.

Mr. Ty, 84, likewise slid to 544th from the 421st after his wealth fell to $3.5 billion from $3.7 billion.

International Container Terminal Services, Inc. Chairman Enrique K. Razon, Jr., meanwhile, bounced back to 564th spot from 722nd following an increase in his net worth to $3.4 billion from $2.4 billion.

The 57-year-old port magnate tied with Jollibee Foods Corp. Chairman Tony Tan Caktiong, 64, who previously ranked 690th. The self-made billionaire behind fastest-growing Asian restaurant chain Jollibee was worth $3.4 billion, up from $3 billion in 2016.

DMCI Holdings, Inc. founder David M. Consunji, 95, further dropped in the global ranking to 630th place from 405th despite an increase in his net worth to $3.1 billion from $3 billion.

Alliance Global Group, Inc. Chairman Andrew L. Tan, meanwhile, retreated to 814th spot with a net worth of $2.5 billion. The 64-year- old occupied the 569th position last year, when his wealth amounted to $3 billion.

Businessman Robert G. Coyiuto, Jr. also ranked lower at 1,376th with a net worth of $1.5 billion. The 64-year-old, who chairs Prudential Guarantee & Assurance and owns a 30% stake in National Grid Corp. of the Philippines, previously was at 1,121st with $1.6 billion.

Vista Land & lifescapes, Inc. Chairman Manuel B. Villar, Jr. likewise dropped to 1,376th position from 1,367th despite expanding his wealth to $1.5 billion from $1.3 billion.

The latest tally included Ramon S. Ang, president and chief operating officer of the country’s most diversified conglomerate San Miguel Corp. The 63-year-old ranked 1,468th with a net worth of $1.4 billion.

San Miguel Chairman and Chief Executive Officer Eduardo M. Cojuangco, Jr. ranked next, placing 1,678th globally. At 81 years old, the businessman was worth $1.2 billion.

Roberto V. Ongpin also joined the billionaire’s club with a $1.1-billion wealth. The 80-yearold chairman of Alphaland Corp. ranked 1,795th in the global roster.

Mang Inasal founder and DoubleDragon Properties Corp. Chairman Edgar J. Sia II, 40, took the 1,940th spot with $ 1 billion this year.

Lucio and Susan Co of Puregold Price Club, Inc. was dropped from this year’s list. The couple previously occupied the 1,121st place with a net worth of $1.6 billion.

Filipino- American Bobby Murphy, the co-founder of photo and video messaging application Snapchat, emerged as the world’s 441st wealthiest with a $4-billion wealth and the sixth youngest billionaire at 28 years old.

Microsoft founder Bill Gates topped the Forbes’ list for the fourth consecutive year with a fortune of $86 billion, an increase from the $75 billion recorded last year.

Warren Buffett reclaimed the second spot with $ 75.6 billion, while Jeff Bezos ranked third for the first time with $72.8 billion.

The record 2,043 billionaires in the latest ranking cumulatively held $7.67 trillion of the world’s wealth, an increase from the $6.48 trillion worth of last year’s 1,810 billionaires.

The full list is available on http:// www. forbes.com/ billionaires.

“Booming stock markets, higher commodities prices and plain old-fashioned entrepreneurship helped make this a record year in terms of wealth creation around the globe,” Forbes Media Managing Editors of Wealth Luisa Kroll and Kerry Dolan said in a statement issued late Monday.