These Are The Richest People In The Philippines, According To Forbes' 2023 List

Ever wondered who's leading the race in the world of Philippine fortune? Forbes has just dropped their updated list of the wealthiest Filipinos, and it's a who's who of titans, visionaries, heirs, and game-changers.

Here’s the Top 10 list, as of August 9, 2023. 

1. The Sy Siblings - Net Worth: $14.4B

   The heirs of the late Henry Sy Sr., siblings Teresita, Elizabeth, Henry Jr., Hans, Herbert, and Harley Sy, topped the 2023 list of richest Filipinos. 

   Source of wealth: Their combined wealth mainly flows from SM Investments and SM Prime. The SM’s empire ranges from department stores to supermarkets, banks, hotels, real estate, and even mining.

2. Manuel Villar - Net Worth: $9.7B

   The former Senate president is second on the list. He currently heads Vista Land & Lifescapes, while his son, Manuel Paolo, is at the helm of VistaREIT.

   Source of wealth: Villar's biggest asset comes from his stake in Golden MV Holdings, which handles mass housing projects and memorial parks. His business interests also include malls to home improvement chains. 

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3. Enrique Razon Jr. - Net Worth: $8.1B

   Port king Enrique Razon Jr., heads the Philippines’ largest port operator, International Container Terminal Services (ICTSI). 

   Source of wealth: His port business has expanded beyond the archipelago, with subsidiaries stretching across the Asia-Pacific, Eastern Europe, Africa, and the Americas. He also owns Bloomberry Resorts Corporation, which operates Solaire Resort and Casino, the shining star of his hospitality empire.

4. Ramon Ang - Net Worth: $3.4B

   Ramon Ang, who owns San Miguel Corporation, is fourth on the list of richest Filipinos. 

   Source of wealth: From brewing beginnings, San Miguel has transformed into a titan of food, beverages, power, and infrastructure.  Let's talk airport and energy: a $15 billion airport and city complex project is also on the horizon, along with a power-packed battery storage move.

5. Tony Tan Caktiong & Family - Net Worth: $3.2B

   Also among the Philippines’ richest is the wizard behind Jollibee Foods, the restaurant chain that's been opening stores abroad. 

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   Source of wealth: Jollibee’s conquering the globe, from Singapore to the U.K. and the U.S., serving up delectable Filipino, Chinese, American, and European flavors. Caktiong also ventured into the property with partner Edgar Sia II. 

6. The Aboitiz Family - Net Worth: $3.15B

   Five generations, one powerhouse: the Aboitiz family and their transformative journey with Aboitiz Equity Ventures (AEV).

   Source of wealth: From abaca trading to power, banking, food, infrastructure, and real estate. They've got their hands in a bit of everything, including the recent acquisition of Citibank's consumer banking business and a takeover at the Mactan-Cebu International Airport.

7. Lance Gokongwei & Siblings - Net Worth: $3B

   Lance Gokongwei and siblings Robina, Lisa, Faith, Hope, and Marcia, are also on the rich list. 

   Source of wealth: The Gokongwei conglomerate spans airlines (Cebu Pacific), telecom, banking, food, power, and property. They also own retail giant Robinsons Malls, and Universal Robina, the food and beverage giant that started as a humble cornstarch plant in the 50s.

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8. Isidro Consunji & Siblings - Net Worth: $2.9B

   The Consunji clan is a powerhouse of wealth from their father David Consunji's legacy.

   Source of wealth: They've got their hands full with DMCI Holdings, playing big in property development, mining, power generation, and water services. Isidro Consunji, the eldest, calls the shots as chairman and president, leading the charge in their various business ventures.

9. Jaime Zobel de Ayala & Family - Net Worth: $2.8B

   Jaime and his seven children run the Ayala Group that has stakes in various businesses. 

   Source of wealth: Starting with a distillery in Manila, they've expanded into banking, real estate, hotels, telecommunications, and education, all under the Ayala banner.

10. Lucio Tan - Net Worth: $2.6B

    Lucio Tan, the brain behind the LT group, spread his influence across tobacco, spirits, banking, and property development.

    Source of wealth: Diversified. His grandson, Lucio Tan III, is stepping up to the plate, leading PAL Holdings and Philippines Airlines. 

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