Manny Villar still Philippines' richest, most billionaires see drop in wealth
Forbes estimated Villar's net worth at $5.6 billion, slightly higher than the $5.5 billion last year. Villar ranked 286th in the world.
The 70-year-old Villar, who once aspired to be the country's president, is currently the chairman of Starmalls and Vista Land & Lifescapes. He also owns Golden Bria, a housing and condominium developer. (READ: Entrepreneur Manny Villar: 'I don't like politics anymore')
Ports and gaming tycoon Enrique Razon Jr came in 2nd place with a net worth of $3.4 billion.
Razon takes the slot of John Gokongwei Jr, who died in November 2019.
Here are the Filipinos with a net worth of at least $1 billion, according to Forbes:
- Manny Villar - $5.6 billion
- Enrique Razon Jr - $3.4 billion
- Hans Sy - $2 billion
- Herbert Sy - $2 billion
- Harley Sy - $1.9 billion
- Henry Sy Jr - $1.9 billion
- Andrew Tan - $1.9 billion
- Teresita Sy Coson - $1.8 billion
- Roberto Ongpin - $1.7 billion
- Lucio Tan - $1.7 billion
- Tony Tan Caktiong - $1.7 billion
- Elizabeth Sy - $1.6 billion
- Ramon Ang - $1.4 billion
- Robert Coyiuto Jr - $1.4 billion
- Eduardo Cojuangco - $1 billion
Only Villar and Roberto Ongpin saw increases in net worth, while the rest decreased. Ongpin's net worth slightly increased to $1.7 billion from $1.1 billion a year ago.
The so-called "Sy-blings" of mall and properties giant SM have a combined net worth of $11.2 billion, lower than the $13.3 billion a year ago.
Lucio Tan's net worth decreased by 61% to $1.7 billion from an estimated $4.4 billion in 2019. (READ: Lucio Tan's millennial grandson rises to power)
Jollibee's Tony Tan Caktiong and his family's net worth decreased by over 56% from $3.9 billion to $1.7 billion.
Amazon chief executive officer Jeff Bezos is the world's richest for the 3rd straight year, with an estimated net worth of $113 billion.
Microsoft's Bill Gates ($98 billion), Louis Vuitton's Bernard Arnault ($76 billion), business magnate Warren Buffett ($67.5 billion), and Oracle's Larry Ellison ($59 billion) round up the top 5 billionaires.
Forbes said there are 2,095 billionaires on the 2020 list, down from 2,153 in 2019.
The total combined net worth of this year's billionaires is $8 trillion, down from $8.7 trillion in 2019, which is "reflective of the turbulent markets and the coronavirus pandemic." – Rappler.com