Mang Inasal's Sia is youngest in top PH billionaires; Sy family still richest

Architect-turned-entrepreneur Edgar Sia, the businessman behind now-popular Mang Inasal, is Philippines' youngest in the list of top billionaires, according to the latest in Forbes' "The Philippines 40 richest."

The 35-year-old Sia, whose net worth grew to $140 million (P5.8 billion) after Mang Inasal was acquired by huge fast-food chain Jollibee, is at the list's 40th place.

Business tycoon Henry Sy and his family meanwhile are still the richest in the Philippines, topping the Forbes list of Philippine billionaires with a net worth of $9.1 billion or some P385 billion.

The Sys control SM Prime, the largest mall developer in the Philippines, with Henry Sy Jr.'s stake in the National Grid Corporation of the Philippines adding to the family's fortune, Forbes said. The Sys are 116th in a list of the world's billionaires topped by Mexican telecoms magnate Carlos Slim, who has $69 billion.

According to the Forbes Philippines' 40 Richest list, the Sys have more than double the wealth of Lucio Tan and his family, who were at second place. The Tans have a net worth of $4.5 billion from diversified interests including cigarette giant Philip Morris-Fortune Tobacco.

Enrique Razon Jr., president of International Container Services Inc., placed third with $3.6 billion from both local and international port operations. John Gokongwei Jr. and family are in fourth place with $3.2 billion followed by David Consunji and family with $2.7 billion.

Andrew Tan is sixth with $2.3 billion, with Jaime Zobel de Ayala and family slightly behind at $2.2 billion. Metrobank founder George Ty and his family are worth $1.7 billion, followed by Robert Ongpin with $1.5 billion mostly from mining, Forbes said.

Eduardo Cojuangco Jr., chairman of San Miguel Corp and uncle to President Benigno Aquino III , is at tenth place with $1.4 billion.

Here are other people who made it to the Philippines' richest 40:

11. National Grid's  Robert Coyiuto, Jr.
12. Jollibee owners Tony Tan Caktiong & family
13. Lucio and Susan Co (Source of Wealth: Retailing, Self-made)
14. Inigo & Mercedes Zobel (Source of Wealth: Diversified)
15. Manila Bulletin's Emilio Yap (Source of Wealth: Diversified)
16. Shipping magnates Jon Ramon Aboitiz & family (Source of Wealth: Diversified)
17. Andrew Gotianun & family (Source of Wealth: Real estate)
18. Camella group's Manuel Villar (Source of Wealth: Real estate)
18. Unilab's Beatrice Campos & family (Source of Wealth: Pharma)
20. Mercury Drug's Vivian Que Azcona & family (Source of Wealth: Retail)

21. Rizal Commercial Bank's Alfonso Yuchengco & family
22. Unilab's Mariano Tan, Jr.
23. Abotiz's Enrique Aboitiz & family
24. Alphaland's Eric Recto
25. Century Properties' Jose Antonio
26. GMA Network's Gilberto Duavit & family
27. GMA Network's Menardo Jimenez
28. Security Bank's Frederick Dy
29. Nickel Asia's Manuel Zamora
30. Atlas Consolidated Mining & Development's Alfredo Ramos & family

31. Lopez Holdings' Oscar Lopez & family
32. GMA Network's Felipe Gozon & family
33. Monde Nissin's Betty Ang
34. Alaska's Wilfred Steven Uytengsu, Jr. & family
35. Banco de Oro's Juliette Romualdez
36. Rustans' Bienvenido Tantoco, Sr. & family
37. Rebisco's Jacinto Ng
38. Alsons Consolidated Resources' Tomas Alcantara & family
39. Megawide Construction's Michael Cosiquien
40. Mang Inasal's Edgar Sia

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • Shorter hours for rail lines tomorrow
    Shorter hours for rail lines tomorrow

    The Metro Rail Transit (MRT), Light Rail Transit (LRT) and the Philippine National Railways (PNR) will have shorter hours tomorrow for the replacement of defective railroad tracks during the Holy Week. …

  • Noy increases allowances for cops, soldiers
    Noy increases allowances for cops, soldiers

    President Aquino has signed a joint congressional resolution raising the daily subsistence allowance for both members of the Armed Forces of the Philippines (AFP) and the Philippine National Police (PNP). Presidential spokesman Edwin Lacierda said Aquino signed last March 27 the merged Joint Resolution 2 of the Senate and Joint Resolution 26 of the House of Representatives. Speaking to reporters, Lacierda yesterday said the daily allowances of police officers and soldiers were raised from P90 …

  • Oil firms raise gas prices today
    Oil firms raise gas prices today

    This year’s Holy Week break will be accompanied by an increase in local pump prices after oil companies announced yesterday a P1.10 per liter hike for gasoline and P0.60 per liter for diesel effective today. “Phoenix Petroleum Philippines will increase the prices of gasoline by P1.10 per liter and diesel by P0.60 per liter effective 6 a.m. of March 31, 2015 to reflect the movements in the prices of refined petroleum products in the international market,” said Phoenix Petroleum, an independent …

  • DFA denies dropping Phl claim to Sabah
    DFA denies dropping Phl claim to Sabah

    The Philippines has never offered to drop its Sabah claim in exchange for Malaysia’s support for Manila’s arbitration case against China over the West Philippine Sea issue, the Department of Foreign Affairs (DFA) said yesterday. “In the context of our friendly bilateral relations, our two countries have been for years exchanging ways on how to address the issue of the extended continental shelf (ECS) in the South China Sea,” Foreign Affairs spokesman Charles Jose said in explaining the DFA’s …

  • Pagcor remits record high P5 B to national treasury
    Pagcor remits record high P5 B to national treasury

    The Philippine Amusement and Gaming Corp. (Pagcor) has remitted P5 billion in cash dividends to the National Treasury, fully settling all its arrears incurred in the last several years. Pagcor chairman and chief executive officer Cristino Naguiat Jr. said with this year’s remittance, the state-owned gaming firm has fully settled all remaining arrears in cash dividends that were incurred by the previous administration since 2005. Pagcor’s cash dividends to the National Treasury under its …

  • Maysak moves closer to Phl
    Maysak moves closer to Phl

    The typhoon with international name Maysak slightly accelerated as it moved closer to the Philippines yesterday, threatening to dump rains over eastern Luzon this weekend, the state weather bureau said. Rene Paciente, senior weather forecaster of the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA), said Maysak was spotted at 2,175 kilometers east of Mindanao as of 1 p.m. yesterday. Paciente said based on their latest forecast, Maysak is likely to affect …

  • Phl gets P2-B climate projects from Germany
    Phl gets P2-B climate projects from Germany

    The Philippines is getting 41 million euros or around P2 billion from the International Climate Initiative (ICI) of Germany that will fund 10 bilateral projects to address the impact of climate change. Climate Change Commission (CCC) vice chairman Lucille Sering yesterday met with Norbert Gorissen – head of the International Climate Finance of the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety – to discuss the projects, some of which will be …

  • Metro sizzles at 35º Celsius
    Metro sizzles at 35º Celsius

    While the start of the summer season has yet to be declared by the state weather bureau, Metro Manila experienced its hottest temperature so far this year at 35.1 degrees Celsius last Sunday. Rene Paciente, senior weather forecaster of the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA), yesterday said the highest temperature was recorded around 3 p.m. at the Science Garden in Quezon City. Meanwhile, PAGASA recorded yesterday the hottest temperature in …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options