Forbes Magazine Names 40 Richest Filipinos (2012 List)

Thursday, June 21, 2012

Forbes Magazine Names 40 Richest Filipinos (2012 List)

Forbes Magazine has just released its 2012 list of the 40 Richest People in the Philippines. SM tycoon Henry Sy retained his spot as the country's richest person with an impressive net worth of $9.1 billion

.But the country’s biggest gainer was Enrique Razon Jr., who became a billionaire just last year with $1.6 billion and is now the country’s third-richest person, worth $3.6 billion. He made his first fortune in ports, taking over the family business, International Container Terminal Services, at 27. He turned ICTS into one of the largest port operators in Asia, then expanded into Europe, North America and the Middle East.

There are three newcomers: Lucio and Susan Co, a husband-and-wife team who join the ranks of billionaires thanks to last September’s IPO of their hypermarket chain Puregold Price Club. Another debutant is 38-year-old civil engineer Michael Cosiquien, who took his building company Megawide Construction public last year and saw its stock triple.

Two from 2011 missed this year’s $140 million cut off: Luis Virata of Nickel Asia and media tycoon Eugenio Lopez.

Here is the complete list of Forbes 40 richest people in the Philippines (2012):

1) Henry Sy - $9.1 billion (SM Prime)

2) Lucio Tan - $4.5 billion (Phillip Morris Fortune Tobacco)

3) Enrique Razon Jr. - $3.6 billion (International Container Terminal Services)

4) John Gokongwei Jr. - $3.2 billion (JG Summit)

5) David Consunji - $2.7 billion (DMCI)

6) Andrew Tan - $2.3 billion (Alliance Global)

7) Jaime Zobel de Ayala - $2.2 billion (Ayala Corp.)

8) George Ty - $1.7 billion (Metropolitan Bank)

9) Roberto Ongpin - $1.5 billion (Atok-Big Wedge)

10) Eduardo Cojuangco Jr. - $1.4 billion (San Miguel)

11) Roberto Coyiuto Jr. - $1.3 billion (National Grid)
12) Tony Tan Caktiong - $1.25 billion (Jollibee Foods)
13) Lucio and Susan Co - $1.2 billion (Puregold Price Club)
14) Iñigo and Mercedes Zobel - $1.15 billion (Ayala Corp.)
15) Emilio Yap - $1.1 billion (Philtrust Bank)

16) Jon Ramon Aboitiz - $955 million (Aboitiz Equity Ventures)
17) Andrew Gotianun - $825 million (Filinvest Development)
18) Manuel Villar - $720 million (Vista Land and Lifescapes)
19) Beatrice Campos - $700 million (Unilab)
20) Vivian Que Azcona - $690 million (Mercury Drug)

21) Alfonso Yuchengco - $570 million (Rizal Commercial Bank)
22) Mariano Tan Jr. - $420 million (Unilab)
23) Enrique Aboitiz - $400 million (Aboitiz & Co.)
24) Eric Recto - $365 million (Alphaland)
25) Jose Antonio - $300 million (Century Properties Group)

26) Gilberto Duavit - $270 million (GMA Network)
27) Menardo Jimenez - $265 million (GMA Network)
28) Frederick Dy - $260 million (Security Bank)
29) Manuel Zamora Jr. - $255 million (Nickel Asia)
30) Alfredo Ramos - $250 million (Atlas Consolidated Mining and Development)

31) Oscar Lopez - $245 million (ABS-CBN)
32) Felipe Gozon - $240 million (GMA Network)
33) Betty Ang - $235 million (Monde Nissin)
34) Wilfred Uytengsu Jr. - $230 million (Alaska Milk)
35) Juliette Romualdez - $200 million (Banco de Oro)

36) Bienvenido Tantoco Sr. - $195 million (Rustan Commercial)
37) Jacinto Ng Sr. - $190 million (Rebisco)
38) Tomas Alcantara - $160 million (Alsons Consolidated Resources)
39) Michael Cosiquien - $150 million (Megawide Construction)
40) Edgar Sia II - $140 million (Mang Inasal)