Local Wealth: The 14 Richest People In The Philippines In 2023 - People

The number of dollar billionaires in the country has dropped from 20 to 14 in the past year.

Billionaires in the Philippines have garnered their wealth from various industries, such as real estate and banking.

READ ALSO: The Continent’s Wealth: Top 10 Richest People In Asia

The richest person in the country, real estate mogul Manuel Villar, ranks at 232 in the global list.

Based on Forbes’ billionaire tracker, here’s a breakdown of all 14 dollar billionaires in the Philippines and their net worths as of the 2023 roundup.

1. Manuel “Manny” Villar

Net worth: $8.6B

Manuel “Manny” Villar has made most of his fortune through real estate. He currently chairs property developer Vista Land & Lifescapes which is run by his son.

The company has a portfolio of over 20 brands, including Camella Homes, Brittany, and Crown Asia.

His biggest asset is his stake in Golden MV Holdings, which develops mass housing and parks. He has also been involved in politics, holding positions such as congressman, speaker of the house of representatives, senator, and senate president.

2. Enrique Razón Jr.

Net worth: $7.3B

Enrique Razón Jr. currently chairs International Container Terminal Services (ICTSI), the country’s leading ports operator. 

His grandfather founded the business in Manila in 1916, which was then rebuilt by his father after World War II.

His hospitality firm Bloomberry Resorts operates the Solaire Resort and Casino in the Philippines.

3. Ramon Ang

Net worth: $3.4B

Ramon Ang is the president and vice chairman of San Miguel, one of the oldest conglomerates in the Philippines.

The billionaire’s company has interests in food and beverage, power generation, and infrastructure.

4. Henry Sy Jr.

Net worth: $2.5B

The son of the late tycoon Henry Sy Sr. has inherited his father’s conglomerate, SM Investments Corp., as co-vice chairman.

Henry Sy Jr. is also chairman of SM Prime, with interests in malls, residences, offices, hotels, and convention centers.

5. Andrew Tan

Net worth: $2.5B

Andrew Tan, a son of a factory worker, grew his wealth by developing large apartment complexes around Manila.

Now he’s the chairman of Alliance Global Group. The holding company has interests in food and beverage, gaming, and real estate, with brands including Emperador, the world’s largest brandy company.

6. Hans Sy

Net worth: $2.4B

Hans Sy is the fourth child of Henry Sy Sr. and younger brother of Henry Sy Jr. He was the president of SM Prime but stepped down in 2016, though he remains a director.

He is also chairman of China Banking Corporation and the Philippines’ National University. He is the first and only Filipino member of the United Nations International Strategy for Disaster Reduction.

7. Herbert Sy

Net worth: $2.4B

As the fifth Sy sibling, Herbert Sy is an adviser of SM Investments and director of SM Prime. He is also actively involved in the SM Group’s supermarket operations.

Sy was behind the expansion of the group’s retail presence in the country and abroad.

8. Lucio Tan

Net worth: $2.4B

Lucio Tan has made his fortune through various industries. He is the founder and chairman of the LT group, which has interests in tobacco, spirits, banking, and property development.

He is also the chairman and CEO of Philippine Airlines, the owner of Philip Morris Philippines Manufacturing Inc., and the chairman of Tanduay Distillers.

9. Harley Sy

Net worth: $2.2B

As the youngest of Henry Sy Sr.’s six children, Harley Sy is the executive director of SM Investments.

He is also the director of China Banking, an adviser of BDO Private Bank, and co-vice chairman of SM Retail.

His involvement in philanthropy is mostly through the Henry Sy Foundation, as he is the current chairman.

10. Teresita Sy-Coson

Net worth: $2.2B

The eldest of the Sy siblings, Teresita Sy-Coson, is vice chairperson of SM Investments. At only 22 years old, she helped open the first SM department store in Manila.

She also serves as the chairperson of BDO Unibank and is on the board of several local organizations that support charitable causes.

11. Elizabeth Sy

Net worth: $1.9B

Elizabeth Sy, the second child and daughter of Henry Sy Sr., has been an advisor of SM Investments since 2012.

She is also involved in the group’s tourism, leisure, and hospitality operations as chairperson and president of SM Hotels and Conventions.

12. Lance Gokongwei

Net worth: $1.4B

The only son of the late John Gokongwei Jr., founder of JG Summit, Lance Gokongwei currently serves as chief executive of the company.

As one of the largest conglomerates in the country, the company has interests in airlines, telecom, banking, food, power, and property.

13. Tony Tan Caktiong

Net worth: $1.2B

Tony Tan Caktiong is the founder and chairman of Jollibee Foods Corporation. As one of the largest fast-food chains in the Philippines, Jollibee operates more than 3,200 eateries in the country. 

The chain also has over 2,700 stores overseas, including countries such as the United States, Vietnam, and Saudi Arabia.

14. Iñigo Zobel

Net worth: $1B

The prominent Zobel family has been involved in real estate, utilities, and agriculture in the country for many years.

The bulk of Iñigo Zobel’s fortune comes from his stakes in San Miguel and Ayala Corporation.

Banner images via SM Prime’s website and by Jkgatdula via Wikimedia Commons.

Shop for LIFESTYLE ASIA’S magazines through these platforms.
Download LIFESTYLE ASIA’s digital magazines from:
Subscribe via [email protected]