The Sy siblings, heirs of the SM Group built by the late Henry Sy, remain the wealthiest Filipino family with a $12.6 billion net worth, according to the Forbes list of the 50 richest people in the Philippines in 2022.
In an article released on Wednesday, Aug. 10, the Sy siblings top the list but their net worth fell by $4 billion to $12.6 billion, the biggest drop in dollar terms.
Forbes said that the combined wealth of Filipino tycoons fell to $72 billion from $79 billion in 2021 amid the country’s recovery from the pandemic.
About two-thirds of the list had seen a decline in their wealth.
“The pressures of inflation, rising commodity and energy prices and reduced exports to China dragged the benchmark stock index down 6% from 11 months ago when fortunes were last measured. The Philippine peso also plunged 12% over the same period,” it said.
Former politician and property billionaire Manuel “Manny” Villar Jr. remains at number two with $7.8 billion. A $1.1 billion was added to his fortune in the past year.
Enrique Razon Jr., CEO of the port-handling giant International Container Terminal Services, Inc, took the top three spots, with his net worth declining to $5.6 billion.
Lance Gokongwei and his siblings were in the top four with net worth falling to $3.1 billion from $4 billion in 2021.
While the Aboitiz family returned to the list this year and took the fifth spot with a collective fortune of $2.9 billion.
Isidro Consunji and his siblings, who inherited a fortune from their late father David Consunji, moved up to the sixth spot with a $2.65 billion fortune.
Converge ICT Solutions cofounders Dennis Anthony Uy and his wife Maria Grace Uy saw a fall in net worth by over $1 billion to $1.75 billion and landed on the 13th spot.
The Po family who inherited the food empire Century pacific of late Ricardo Po Sr., is the new entrants in this year’s list with $1.2 billion, placing them at the 16th spot.
Sylvia C. Wenceslao who took over as chairman of real estate developer D.M. Wenceslao & Associates after his husband’s death also entered the list with $340 million.
Below is the complete list of 50 wealthy Filipinos:
1. Sy siblings - $12.6 billion
2. Manuel Villar - $7.8 billion
3. Enrique Razon Jr. - $5.6 billion
4. Lance Gokongwei & siblings - $3.1 billion
5. Aboitiz family - $2.9 billion
6. Isidro Consunji & siblings - $2.65 billion
7. Tony Tan Caktiong & family - $2.6 billion
8. Jaime Zobel de Ayala & family - $2.55 billion
9. Ramon Ang - $2.45 billion
10. Andrew Tan - $2.4 billion
11. Lucio Tan - $2 billion
12. Ty siblings - $1.9 billion
13. Dennis Anthony & Maria Grace Uy - $1.75 billion
14. Lucio & Susan Co - $1.7 billion
15. Hartono Kweefanus & family - $1.5 billion
16. Po family - $1.2 billion
17. William Belo & family - $1.15 billion
18. Vivian Que Azcona & siblings - $1.1 billion
19. Mercedes Gotianun & family - $1.09 billion
20. Betty Ang - $1.05 billion
21. Soledad Oppen-Cojuangco & family - $985 million
22. Inigo Zobel -$930 million
23. Roberto Ongpin -$830 million
24. Dennis Uy - $810 million
25. Campos siblings - $780 million
26. Dean Lao & family - $710 million
27. Henry Soesanto - $625 million
28. Luis Yu Jr. - $545 million
29. Jacinto Ng - $490 million
30. Eusebio Tanco - $450 million
31. Yap family - $440 million
32. Manuel Zamora Jr. - $430 million
33. Robert Coyiuto Jr. - $420 million
34. Menardo Jimenez - $380 million
35. Mariano Tan Jr. - $375 million
36. Gilberto Duavit Jr. - $360 million
37. Felipe Gozon - $355 million
38. Carlos Chan - $350 million
39. Sylvia C. Wenceslao - $340 million
40. Edgar Sia II - $330 million
41. Keng Sun and Peter Mar & family - $310 million
42. Alfredo Yao - $280 million
43. Jose Antonio - $270 million
44. Mariano Martinez Jr. - $250 million
45. Oscar Lopez - $245 million
46. Tomas Alcantara - $240 million
47. Wilfred Steven Uytengsu Jr. - $230 million
48. Frederick Dy - $220 million
49. Philip Ang - $190 million
50. Benedicto & Teresita Yujuico - $185 million
