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2011 Forbes List of Filipino Billionaires

And now there are eleven.

From five (5) Pinoy billionaires in last year’s list of the 40 Richest People in the Philippines, the 2011 Forbes magazine’s list of Filipino billionaires now has a total of eleven (11).

The five billionaires from last year are still there: shopping mall magnate Henry Sy is still No 1. Lucio Tan of PAL, Fortune Tobacco and Eton Properties remains at No. 2 while John Gokongwei Jr. of JG Summit Holdings, Cebu Pacific and Robinsons Land is also unchanged at No. 3.

Last year’s 4th Filipino billionaire, Jaime Zobel de Ayala of the Ayala Group of Companies, is down two spots to No. 6. Andrew Tan of Alliance Global and Resorts World Manila, has claimed Ayala’s No. 4 spot.

The six new Filipino billionaires are:

  • #5 – David Consunji of real estate firm DMCI Homes
  • #7 – Enrique Razon Jr. of port operator International Container Terminal Services Inc. (ICTSI)
  • #8 – Eduardo Cojuangco Jr. of conglomerate San Miguel Corporation (SMC)
  • #9 – Roberto Ongpin, former Finance Minister of Ferdinand Marcos, recently acquired Atok-Big Wedge Company
  • #10 – George Ty of Metrobank
  • #11 – Tony Tan Caktiong of Jollibee Foods Corporation

List of 11 Filipino Billionaires – 2011

Stocks, Mutual Funds, Forex, Finance Philippines

2011 Forbes List of Filipino Billionaires

1. Henry Sy

2010 Rank: #1 (unchanged)
Networth: $7.2 billion
Age: 86
Marital Status: Married, 6 children

Started with small shoe store in Manila, which he built into one of country’s largest retail groups. SM Prime, the Philippines’ largest shopping mall developer, run by son Hans, plans to list its China operations. Shares in SM Investments, family’s largest asset, up nearly 40%. Banco de Oro Unibank, country’s largest bank, run by daughter Teresita Sy-Coson. Listed property developer Belle Corp., expected to open its first casino in Manila in 2012.

2011 Forbes List of Filipino Billionaires

2. Lucio Tan

2010 Rank: #2 (unchanged)
Networth: $2.8 billion
Age: 77
Marital Status: Married, 6 children

His biggest asset, Hong Kong-based Eton Properties, is enjoying a big boost in property values. Has stake in PAL Holdings, which controls flagship carrier Philippine Airlines. Fortune Tobacco, the country’s largest tobacco company, is fighting Department of Health in court on an order to put graphic warnings on cigarette packs about health dangers of smoking.

2011 Forbes List of Filipino Billionaires

3. John Gokongwei Jr.

2010 Rank: #3 (unchanged)
Networth: $2.4 billion
Age: 83
Marital Status: Married, 6 children

JG Summit, conglomerate he founded, has interests in airlines, telecoms, real estate, banking, hotels and power generation. Group’s budget carrier Cebu Air listed last October, raising $623 million. Brother James Go chairs JG Summit, son Lance is president.

2011 Forbes List of Filipino Billionaires

4. Andrew Tan

2010 Rank: #5 (+1)
Networth: $2.0 billion
Age: 58
Marital Status: Married, 4 children

Son of factory worker, his holding company, Alliance Global, has interests in food and beverage, real estate, gaming. His new power-generation venture FDC Utilities plans to raise funds for renewable energy projects. Wife Katherine is treasurer and sits on board.

2011 Forbes List of Filipino Billionaires

5. David Consunji

2010 Rank: #12 (+7)
Networth: $1.8 billion
Age: 90
Marital Status: Married, 8 children

Big jump for former concrete inspector who founded construction company in 1954 and later expanded into infrastructure, real estate, mining and power. He moved into top 5 as shares of his DMCI Holdings more than doubled in past year. Value of Semirara Mining nearly tripled. Son Isidro is DMCI Holdings’ president. Children share fortune.

2011 Forbes List of Filipino Billionaires

6. Jaime Zobel de Ayala

2010 Rank: #4 (-2)
Networth: $1.7 billion
Age: 77
Marital Status: Married, 7 children

Chairman emeritus of Ayala Corp., country’s largest conglomerate by market capitalization. Interests include real estate, hotels, financial services, telecom, utilities. Plans to invest $1.8 billion in power generation, infrastructure. Stake held by his 7 children. Jaime II, eldest, is chairman; Ferdinando is vice chairman.

2011 Forbes List of Filipino Billionaires

7. Enrique Razon Jr.

2010 Rank: #7 (unchanged)
Networth: $1.6 billion
Age: 51
Marital Status: Married, 2 children

Port operator who controls listed International Container Terminal Services is the Philippines’ youngest billionaire.

2011 Forbes List of Filipino Billionaires

8. Eduardo Cojuangco Jr.

2010 Rank: #10 (+3)
Networth: $1.4 billion
Age: 76
Marital Status: Married, 4 children

Controls San Miguel, food and beverage conglomerate with interests in power. Last year sold option to group of investors to buy him out for undisclosed sum. Share price of company, which completed $370 million secondary offering in May, has nearly doubled since. Former Marcos crony; country’s Supreme Court recently ruled that his stake in San Miguel, which the Presidential Commission on Good Government had alleged he got because of his links with the former dictator, wasn’t ill-gotten.

2011 Forbes List of Filipino Billionaires

9. Roberto Ongpin

2010 Rank: #21 (+12)
Networth: $1.3 billion
Age: 74
Marital Status: Married, 4 children

Former minister of trade who studied at Harvard Business School, has investments in property, mining, telecom. Top Frontier, investment firm he has holding in, has been buying up stakes in San Miguel. He also upped stake in mining firm Atok-Big Wedge, reaping big gain. Ongpin says his net worth is no more than $500 million, based on his debt and the share price of Atok-Big Wedge overstating the company’s value.

2011 Forbes List of Filipino Billionaires

10. George Ty

2010 Rank: #9 (-1)
Networth: $1.1 billion
Age: 78
Marital Status: Married, 5 children

His Metrobank, country’s second-largest lender, posted record profits of $195 million in 2010. Self-starter founded bank in his 20s, stepped down as chairman in 2006 in favor of son Arthur. Group’s power unit began operating new coal-fired power plant in April. Real estate arm Federal Land plans to build $300 million hotel in Manila.

2011 Forbes List of Filipino Billionaires

11. Tony Tan Caktiong

2010 Rank: #6 (-5)
Networth: $1.0 million
Age: 58
Marital Status: Married, 3 children

Founder of Jollibee Foods, country’s largest fast-food company, joins billionaire ranks for first time. Expanded Jollibee from single ice cream parlor to network of 7 fast-food brands, with 2,300 outlets worldwide. Plans to open 300 new stores this year. Building a new factory in China to supply to its outlets there. Bought Mang Inasal, a rival fast-food chain from Edgar Sia II (No. 40).

Source: Forbes

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