Forbes has released the “2020 Forbes Philippines Rich List” and as the pandemic has disrupted the country’s economy, the collective wealth of the Philippines’ 50 Richest has dropped to $60.6 billion from $78 billion a year ago. And a total of 32 Philippine Tycoons in the list saw their fortunes decline.
“Tycoons on the 2020 Forbes Philippines Rich List saw their collective wealth fall 22% to US$60.6 billion as the pandemic disrupted the country’s economy,” Forbes stated.
In the list of Forbes’ Philippines’ 50 Richest 2020, the Sy siblings remain at the number one spot of Philippines’ Rich List for this year with a net worth of $13.9 Billion despite losing $3.3 Billion due to the pandemic.
“The Sy siblings took the biggest hit in dollar terms but remain at No. 1 with $13.9 billion. Their fortune was down by $3.3 billion amid a contracting economy and soaring unemployment,’ said Forbes
The six Sy siblings are Teresita, Elizabeth, Henry Jr., Hans, Herbert, and Harley and they inherited their fortune from their late father Henry Sy Sr. Also, according to Forbes, the Sy Siblings combined net worth consists largely of stakes held in the group’s publicly-traded SM Investments and SM Prime.
| Rank | Name | Net Worth (US) |
| 1 | Sy Siblings | $13.9 Billion |
| 2 | Manuel Villar | $5 Billion |
| 3 | Enrique Razon Jr. | $4.3 Billion |
| 4 | Lance Gokongwei & Siblings | $4.1 Billion |
| 5 | Jaime Zobel de Ayala | $3.6 Billion |
| 6 | Andrew Tan | $2.3 Billion |
| 7 | Lucio Tan | $2.2 Billion |
| 8 | Ramon Ang | $2 Billion |
| 9 | Tony Tan Caktiong | $1.9 Billion |
| 10 | Lucio & Susan Co | $1.7 Billion |
| 11 | Mercedes Gotianun | $1.5 Billion |
| 12 | Ty Siblings | $1.4 Billion |
| 13 | Vivian Que Azcona & Siblings | $1.34 Billion |
| 14 | Isidro Consunji & Siblings | $1.3 Billion |
| 15 | Roberto Ongpin | $1.2 Billion |
| 16 | Soledad Oppen-Cojuangco | $1.15 Billion |
| 17 | Ricardo Po, Sr. | $1 Billion |
| 18 | Inigo Zobel | $990 Million |
| 19 | William Belo | $900 Million |
| 20 | Robert Coyiuto, Jr. | $890 Million |
| 21 | Edgar Sia II | $700 Million |
| 22 | Dennis Uy | $650 Million |
| 23 | Campos Siblings | $600 Million |
| 24 | Dean Lao | $500 Million |
| 25 | Jacinto Ng | $490 Million |
| 26 | Mariano Tan, Jr. | $350 Million |
| 27 | Delfin J. Wenceslao, Jr. | $340 Million |
| 28 | Tomas Alcantara | $300 Million |
| 29 | Manuel Zamora | $280 Million |
| 30 | Carlos Chan | $260 Million |
| 31 | Wilfred Steven Uytengsu, Jr. | $250 Million |
| 32 | Oscar Lopez | $240 Million |
| 33 | P.J. Lhuillier | $230 Million |
| 34 | Jorge Araneta | $220 Million |
| 35 | Alfredo Yao | $210 Million |
| 36 | Eusebio Tanco | $200 Million |
| 37 | Frederick Dy | $190 Million |
| 38 | Betty Ang | $185 Million |
| 39 | Jose Antonio | $180 Million |
| 40 | Michael Cosiquien | $175 Million |
| 41 | Jose Ma Concepcion | $174 Million |
| 42 | Felipe Gozon | $170 Million |
| 43 | Juliette Romualdez | $160 Million |
| 44 | Erramon Aboitiz | $150 Million |
| 45 | Philip Ang | $140 Million |
| 46 | Michael Romero | $135 Million |
| 47 | Menardo Jimenez | $125 Million |
| 48 | Luis Virata | $115 Million |
| 49 | Mikel Aboitiz | $110 Million |
| 50 | Lourdes Montinola | $100 Million |
According to Forbes, the list was compiled using information from the individuals, stock exchanges, analysts, private databases, government agencies, and other sources.
“Net worths were based on stock prices and exchange rates as of the close of markets on August 28, 2020. Private companies were valued by using financial ratios and other comparisons with similar publicly traded companies. Since 2017, we’re no longer including families in which the founder of the business has died, unless the successors are wealthy enough to make the cutoff individually; in these cases, we combine the inherited fortunes,” Forbes added.
Source: Forbes, Philippines’ 50 Richest 2020
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