Sys, Villar lead Forbes list of richest Filipinos

Credit to Author: Tempo Desk| Date: Thu, 26 Sep 2019 10:03:12 +0000

VILLAR (FB photo)

The average age of billionaires in the 2019 Forbes Philippines Rich List is getting younger as second generations take over businesses while young entrepreneurs start showing their worth.

This year’s list is led by the Sy siblings who made it to the list for the first time, replacing their late father Henry Sy Sr. who held the position for 11 consecutive years.

They have a combined net worth of $17.2 billion, stemming largely from the family’s SM group, the country’s largest conglomerate.

Second in the list is housing developer and emerging retail magnate former Sen. Manuel B. Villar with a net worth of $6.6 billion. Villar is now the richest individual in the list and his fortunes will soon be boosted further when his home improvement business goes public.

The original taipans are represented in the list by John Gokongwei Jr., with a net worth of $5.3 billion from his stake in JG Summit empire, as well as Lucio Tan who has a net worth of $3.6 billion from his conglomerate which includes liquor, tobacco, and airline businesses.

Second generation tycoons who replaced their patriarchs in the list include the Ty siblings of GT Capital, the Consunji siblings of diversified engineering conglomerate DMCI Holdings, the Que siblings of Mercury Drug, and the Campos siblings who are heirs of Jose Campos.

Leading three self-made entrepreneurs who debuted in the list is logistics and energy tycoon Dennis Uy who ranks No. 22 on the list with a net worth of $660 million.

Delfin Wenceslao (No. 25) makes his debut with a net worth of $500 million after taking real estate developer D.M.
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