Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
This is AI generated summarization, which may have errors. For context, always refer to the full article.
The heirs to the late malls tycoon Henry Sy Sr. have a combined net worth of around $11.8 billion
MANILA, Philippines – The Sy siblings, heirs to the late tycoon Henry Sy Sr.’s SM Group, retain their top spot on Forbes’ list of 50 richest Filipinos.
According to Forbes Asia, the combined wealth of the Philippines’ 50 richest grew 6% to $86 million.
Despite the uncertainty brought about by the United States’ tariffs and a dipping stock market index, Forbes Asia said nearly half of the tycoons on the list were wealthier than they were a year ago.
The Sy siblings, also referred to as the “Sy-blings,” are worth around $11.8 billion. While their fortune fell by $1.2 billion last year, Forbes noted that SM Prime Holdings is investing $9 billion over the next five years to grow its footprint.
Trailing behind the Sy-blings is ports tycoon Enrique Razon, whose net worth grew to $11.5 billion. “His International Container Terminal Services reported a two-thirds jump in net profit to $850 million for 2024 and said it will press ahead with global expansion this year,” Forbes Asia wrote.
Real estate magnate Manny Villar placed third with a net worth of $11 billion as Villar Land Holdings (formerly Golden MV Holdings) shifts from mass-market and memorial to large-scale developer of Villar City in southern Metro Manila.
Among the wealthiest Filipinos, Converge co-founders Dennis Anthony and Maria Grace Uy saw the biggest gains in their net worth, which surged 76% to $1.6 billion.
Here is the list of the 10 wealthiest Filipinos. The full list can be found in Forbes’ website here:
- Sy siblings – $11.8 billion
- Enrique Razon – $11.5 billion
- Manny Villar – $11 billion
- Ramon Ang – $3.75 billion
- Isidro Consunji and siblings – $3.7 billion
- Que Azcona family – $3.6 billion
- Jaime Zobel de Ayala – $3.4 billion
- Lucio Tan – $3.2 billion
- Lucio and Susan Co – $3 billion
- Tony Tan Caktiong – $2.9 billion
The Consunji siblings inherited property giant DMCI Holdings from their late father, David Consunji.
Meanwhile, the Que Azcona family took the place of the late Mercury Drug president Vivian Que Azcona following her death in April. The drugstore chain is now run by her son Steven.
Husband and wife tandem Lucio and Susan Co own retail giants Puregold Price Club and S&R Membership Shopping and imported alcohol distributor The Keepers Holdings.
Tony Tan Caktiong he founded the fast-food giant Jollibee Group and co-chairs property giant DoubleDragon with Edgar “Injap” Sia.
Unlike the Forbes World’s Billionaires rankings, this list includes family fortunes, including those shared among extended families. To make the list, one had to have a minimum net worth of $185 million. – Rappler.com
