The Philippines have been known for volcanoes and some amazing travelling places for tourists. It is rich in biodiversity too with rainforests, beaches, and mountains. With all these Philippines also have numerous Billionaires out of which some of them are counted in top 100 richest people in the world. Their success proves that there exists an opportunity for each and every Filipino to get success if they have a business mind and are in for putting hard work.
The Philippines was a poor country back in the time, but now it has a flourishing economy. These people have made it possible with their excellent business and trading minds. Here is a list of top 10 richest persons from the lands of Philippines in 2018, who have reached from few pesos to billions of them.
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10. Robert Coyiuto, Jr.
Robert Coyiuto, Jr. is the famous chairperson of Prudential guarantee and Assurance firm, which is one of the top firms for non-life insurances in the Philippines. He has also invested in companies such as PGA cars (automotive industry). Robert Coyiuto, Jr. is also a stakeholder in Minerals corporation Coyiuto and Oriental Petroleum. Though he has reserved his tenth position on the list he has seen a decrease in net worth from 1.7 Billion dollars in 2016 to 1.5 Billion dollars in 2018.
9. Manuel Villar
Manuel Villar is a person who has gained immense luxury and credits for changing the structure of Philippines market. He is the operator of Philippines largest malls and is the majority owner of Philippines famous Starmall. He also owns the major property development firms such as Vista land and landscapes. With his very high investment in Real estate, Villar has a net worth of 1.5 Billion and has been ranked 9th in the list.
8. Andrew Tan
Andrew Tan started his career by developing and restructuring numerous complexes and apartments in Manila. He is currently the owner of McDonald’s franchise in the country and is also owns a major holding company Alliance Global in the country too. He has a Net worth of 2.5 billion dollars which was around 3.2 billion dollars in 2016. This decline has left him to the eight spot on the list from sixth as on last year.
7. David Consunji
The construction tycoon of Philippines currently has a net worth of 3.1 billion dollars. David Consunji is the founder and owner of the vast construction empire DMCI. His construction empire has been generating revenues from power generation, real estate, and infrastructure.
6. Enrique Razon, Jr.
Enrique Razon, Jr. has seen a tremendous increase in his net worth in a short span of one-year i.e from 2016 to 2018. He has gained 900 million dollars’ increase in his net worth from 2016 to 2018. His net worth in 2016 was 2.5 billion dollars and was increased to 3.4 billion dollars in 2018. Enrique is the owner of some of the largest ports in the Philippines and also supervises his global operations in the Americas, Europe, and Africa.
5. Tony Tan Caktiong
Tony Tan Caktiong is named everybody in Asian countries is well aware of. Tony started a food chain with the name ‘Jollibee’, which is now one of the quickly growing Asian restaurant chains in the world. Tony started it form just one store of Jollibee and now opened numerous of it across the Asian countries and some even globally to pander the Asian diaspora across the world. His net worth increased from 3.2 billion dollars from 2016 to 3.4 billion dollars in 2018.
4. George Ty.
GT capital holdings are run by George Ty., he has been very diversified in his investments and interests of doing business. Therefore, he has invested in sectors such as power generation, automotive, insurance, property development, and banking. George Ty. is a person who was declined from a business loan application by a bank. He after ten years started his own bank with the name Metrobank. His current net worth is 3.5 billion dollars.
3. Lucio Tan
Lucio Tan was not from a well to do and well to earn family. In his early life, he even mopped the floors at various schools and had nothing to pursue his idea in the chemical industry. Later, after years of hard work, he started his business in chemical engineering and currently is now has his subsidiaries in property development, banking, spirits, and tobacco. His diversified interest in business has to lead to the 3rd position on this list with 4.7 billion dollars of net worth as calculated in the present year.
2. John Gokongwei, Jr.
Every Asian person is well aware of a firm with the name JG Summit, the full form JG is the name of its owner i.e. John Gokongwei, Jr. He owns one of the top multinationals currently in operation in the Philippines. He also has diversified interests in the fields such as air transportation, telecommunications, power, food, banking, real estate, chemicals, and hotels. He saw a huge increase in his net worth of around 700 million dollars in just one year. He had a net worth of 5.1 billion dollars in 2016 and currently has a net worth of 5.8 billion dollars in 2018.
1. Henry Sy
The number from past eight years Henry Sy is an inspiration to every business tycoon out there in Asian countries. He has been the most famous retailer in the Philippines with a current net worth of 12.7 billion dollars. Though his business saw a decline in the net worth which was 13.3 billion dollars in 2016. Though these 600-million-dollar decrease in net worth didn’t affect his status. Henry Sy is the infamous possessor of SMS investments corporation and also has investments in real estate, shopping malls, and banking too.
Though there are many millionaires and billionaires in the Philippines, it’s amazing to know that most of them started to form very little and are now owns a lot in the same country. Their financial status has changed tremendously in years and they are surely an inspiration for all of the persons pertaining interests in doing business. These billionaires are an example of the quote that anything and everything is attainable with sheer dedication and hard work.