Pinoy billionaire circle grows this year

Mall tycoon Henry Sy remained the top billionaire in the Philippines, as the number of Pinoy billionaires grew to 11 this year, Forbes magazine's latest list released late Monday showed.

Sy, whose SM chain of malls nationwide and several other investments gave him a net worth of $13.2 billion (P538.6 billion), led the Pinoy billionaires. He ranked 68th in the global list, up from being 116th in 2012.

The local billionaire circle, which had a combined wealth of $37.85 billion (P1.54 trillion), has grown from only six in 2012.

Related story: Philippines' elite swallow country's new wealth

The 11 Pinoys are part of the elite group of only 1,426 people globally who have a net worth of $1 billion or more and who collectively control $5.4 trillion of the world's wealth.

Next to Sy in the global list is businessman Lucio Tan, with $5 billion (P204 billion), jumping to the 248th spot from being 314th previously.

Port and casino giant Enrique Razon, Jr., meanwhile, became the country's third biggest billionaire with $4.9 billion (P200 billion), rising to the 258th spot from 683rd in 2012.

Razon has overtaken businessman Andrew Tan, who nonetheless improved to ranking 345th from 601st a year ago. Tan's net worth is pegged at $3.95 billion ($164 billion).

Businessman Roberto Ongpin slid to ranking 1175th this year from 1153rd in 2012, even as his net worth grew to $1.5 billion (P61.2 billion) from $1 billion (P40.8 billion).

Also read: Good economy 'new normal' for PH, World Bank says

But the most of newcomers in the 2013 list edged out Ongpin. Ongpin shared the 1175th spot with real estate magnate Andrew Gotianun and his family.

Other newcomers had higher net worths:
construction giant David Consunji and family, $2.8 billion (P114.3 billion), rank 503;
banking tycoon George Ty and family, $2.6 billion (P106.1 billion), rank 554;
Puregold owners Lucio and Susan Co, $2 billion (P81.5 billion), rank 736;
businessman Roberto Coyiuto, Jr., $1.6 billion (P65.2 billion), rank 931
Jollibee owner Tony Tan Caktiong and family, $1.4 billion (P57.1 billion), rank 1031

Business mogul Eduardo "Danding" Cojuangco, who was among the six Pinoy billionaires in last year's Forbes list, has been dropped from the elite circle.

In other news: Aquino warns 'conspirators' in Sabah standoff

Forbes, which has been listing the world's billionaires since 1987, noted that this year's 1,426 billionaires collectively control $5.4 trillion of the world's wealth. This is higher than the $4.6 trillion shared by 1,226 people last year.

"To compile net worths, we value individuals' assets–including stakes in public and private companies, real estate, yachts, art and cash–and account for debt," Forbes said.

On top of the global list was Mexican telecommunications tycoon Carlos Slim ($73 billion), followed by Microsoft founder Bill Gates ($67 billion).

The owner of Spanish fashion retailer Zara, Amancio Ortega ($57 billion), wrestled the third spot from  Warren Buffet ($53.5 billion), who dropped out of the top three for the first time since 2000.

"The year's biggest loser is Brazilian Eike Batista, whose fortune dropped by $19.4 billion, or equivalent to about $50 million a day," Forbes said.

Batista ranked 100th this year, from 7th in 2012.

 Related slideshow: World's top 10 billionaires in 2013

6. Charles Koch ($34 billion). Charles G. Koch has been the chairman and CEO of Koch Industries — one of the largest privately owned companies in the U.S. — since 1967.
1 / 3
CNBC | Photo By John Chiasson / Liaison/Getty Images
Wed, Apr 11, 2012 6:00 PM PHT


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.

  • Troops overrun BIFF bomb-making facility in Mamasapano
    Troops overrun BIFF bomb-making facility in Mamasapano

    Government troops captured Sunday a bomb and weapons factory of the Bangsamoro Islamic Freedom Fighters (BIFF) in Mamasapano, Maguindanao, the Armed Forces of the Philippines (AFP) announced yesterday. Col. Restituto Padilla, AFP spokesman, said the captured bomb and weapons factory is located inside an area controlled by radical Muslim cleric Ustadz Mohammad Ali Tambako at Barangay Dasikil in Mamasapano. …

  • No need for Revilla to visit son – prosecutors
    No need for Revilla to visit son – prosecutors

    Instead of filing an opposition, ombudsman prosecutors filed a manifestation yesterday expressing belief that there is no urgent need for Sen. Ramon “Bong” Revilla Jr. to visit his son at the Asian Hospital and Medical Center. “Based on the clinical abstract issued by the Asian Hospital on patient (Cavite) Vice-governor (Jolo) Revilla, which was submitted by accused Revilla in support of his Urgent Motion, Vice-governor Revilla is in stable condition and has stable vital signs, as of March 1, …

  • N. Korea fires missiles in anger at South-US military drills
    N. Korea fires missiles in anger at South-US military drills

    North Korea fired two short-range ballistic missiles into the sea and vowed "merciless" retaliation Monday as the US and South Korea kicked off joint military drills denounced by Pyongyang as recklessly confrontational. The annual exercises always trigger a surge in military tensions and warlike rhetoric on the divided peninsula, and analysts saw the North's missile tests as a prelude to a concerted campaign of sabre-rattling. "If there is a particularly sharp escalation, we could see the …

  • Couple married 67 years holds hands in final hours together
    Couple married 67 years holds hands in final hours together

    FRESNO, Calif. (AP) — After spending 67 years together as devoted husband and wife, there was no question how Floyd and Violet Hartwig would end their lives — together. …

  • How Islamic is Islamic State group? Not very, experts say
    How Islamic is Islamic State group? Not very, experts say

    CAIRO (AP) — Three British schoolgirls believed to have gone to Syria to become "jihadi" brides. Three young men charged in New York with plotting to join the Islamic State group and carry out attacks on American soil. A masked, knife-wielding militant from London who is the face of terror in videos showing Western hostages beheaded. …

  • Recruitment firm accused of worldwide scam
    Recruitment firm accused of worldwide scam

    Filipinos aspiring to work overseas should avoid dealing with a recruitment agency that has duped jobseekers worldwide, Labor Secretary Rosalinda Baldoz said yesterday. The National Bureau of Investigation has padlocked Global Visas Inc., which is based in Cebu. Baldoz said the agency’s parent company, ICS Global Visas Inc. based in the United Kingdom, has reportedly collapsed and left thousands of applicants without jobs.  “Global Visas was in the limelight this week, following its reported …

  • Lawmakers split on tax exemption for Pacquiao
    Lawmakers split on tax exemption for Pacquiao

    Colleagues of boxing champion Manny Pacquiao at the House of Representatives backed yesterday a proposal to exempt his earnings from his May 2 fight with American Floyd Mayweather from income tax. Internal Revenue Commissioner Kim Henares has urged Pacquiao to promptly pay taxes on his May 2 earnings, which are projected to reach at least $120 million (more than P5.2 billion). …

  • Woman with slain Putin critic says she didn't see his killer
    Woman with slain Putin critic says she didn't see his killer

    MOSCOW (AP) — The 23-year-old Ukrainian model who was with slain opposition leader Boris Nemtsov tearfully recounted Monday their last dinner in a chic Red Square restaurant and their walk onto a nearby bridge — but said she did not see the gunman who pulled the trigger. …


Should Aquino be held accountable over the Mamasapano operations?

Poll Choice Options