Rich people in the Philippines own 1/3 of incomes



An Inquirer article published today reported that the richest 10% of families in the Philippines holds more than a third of the country’s total income.
According to the National Statistics Office, the richest 1.74 million families earned 36% of the aggregate family income of around P3 trillion ($74 billion) in 2006.
Who are these families? Well, they include the Ayalas, the Sys, the Tans, the Tys, and the rest of the 40 richest Filipinos.
How about the family of Juan de la Cruz? According to the same report, the average income of a Filipino family is $12 a day or $4,380 a year, or roughly P180,000 per year.
Only goes to show how the income disparity between the poor and the rich in the Philippines just keeps on getting bigger.
Although the government should be tasked to help uplift the lives of the poor, the poor themselves should also strive harder to make money.
Rather than irresponsibly spending hard-earned money on malls that only makes the Ayalas and the Sys richer, people should invest and grow their money or use it to start their own business.
You should also read the following:

About the Author

PSEi support seen at 6,200 and 6,000 amid weaker Peso

In a not-so-surprising move, the U.S. Federal Reserve (Fed) yesterday raised interest rates by 75 basis points (bps) or 0.75% in a bid to tame rising inflation in the United States. This was the third consecutive 0.75% rate hike by the Fed, which brings the federal funds rate, the central bank’s benchmark interest rate, to ... Read more

Official SWIFT Code of BDO, BPI, Metrobank, Philippine banks

When sending cash remittances or wire transfer to a bank account in the Philippines (such as BDO, BPI, Metrobank, Landbank, DBP, etc.), you’ll surely need the SWIFT Code of the bank. Look no further because you can find all the SWIFT Codes you need in this list! Make sure you’re using the right bank code ... Read more
blank

How to Waive your Credit Card Annual Fee (BDO, BPI, Metrobank, RCBC, Citibank, UnionBank)

Without a doubt, one of the most annoying fees that credit cardholders have to pay is the annual fee. Majority of cardholders are familiar with this fee and majority of us likely pay this grudgingly year after year after year. In the case of my credit card with BPI (Bank of the Philippine Islands), I’m ... Read more
blank

Why Filipinos do not become business owners or entrepreneurs

For a majority of Filipinos, entrepreneurship does not seem to be a typical, expected path. This is not surprising, considering that in school, students are primarily taught to become employees after graduation. Students train for years to become staff workers, reporting to a supervisor, and just waiting to receive their wages or salaries every month. ... Read more
blank

My experience investing in Mutual Funds in the Philippines

I started investing in mutual funds when I was 22 years old. As an Overseas Filipino Worker (OFW) then, I was fortunate to be able to save some money at that young age because of my work abroad. One time while I was on vacation in the Philippines, I saw a large billboard in EDSA ... Read more
blank

Income Tax Tables in the Philippines (2022)

The Philippines’ new tax reform bill, known as TRAIN or Tax Reform for Acceleration and Inclusion, was signed into law on December 19, 2017 and its implementation began on January 1, 2018. What are the new income tax rates under the TRAIN law? How will TRAIN affect income taxes of individuals and corporations? How is the ... Read more
blank

PSE Stocks Performance under each Philippine President (1987-2021)

Did you know that Philippine stocks were able to achieve an astounding growth of 800% in a span of 30 years? From 1987 until 2018, the Philippine Stock Exchange index (PSEi) rose from 1,000 points to a peak of 9,000 points — generating a return of 800% over 30 years. (The PSEi is an index ... Read more
blank

SSL 2022: Salary Increases for Teachers, Nurses, Gov’t Employees

Good news to all government employees! There’s a new round of salary increases beginning January 1, 2022! Millions of employees of the Philippine government — including public school teachers, nurses and staff of government hospitals, and workers in local and national government agencies, etc. — will be getting an automatic salary adjustment this 2022 under ... Read more
blank

PSE Trading Hours in 2022: What time open, when closed?

Before you take the plunge into stock trading and investing, make sure you understand what stocks are and how the Philippine Stock Exchange (PSE) operates. Unlike other investments that are relatively safe, stock trading is risky and loss of money is a possibility. So before you deep dive into the exciting world of stock trading, ... Read more

Price Floor and Price Ceiling of PSE Stocks

Trading bands in the PSE come in two forms: Price Ceiling, or the upper price limit, and Price Floor, or the lower price limit.

7 thoughts on “Rich people in the Philippines own 1/3 of incomes”

  1. I think that it will always be that way. The rich getting richer and the poor getting poorer. We do need the help of the government the most. We also need to keep our skilled people here in the Philippines instead of witnessing the exodus of talented and skilled people. When that will happen? I don’t know, but hopefully we can change it soon. Maybe I will be in that top 40 in the next 10 years? Hehe, here’s to hoping.

    Reply
  2. Yup, it’s been that way not just in the Philippines but also in other countries. But it gets more alarming if the income disparity widens, and that’s when the government should really step in. Still, although I believe the government has a hand on this thing, the people themselves should not just wait until the government helps them. They should not just rely on the government and instead try to help themselves.
    Be in the Richest 40 in the next 10 years, Moonburst? That’s not impossible! I’m sure you can do it. Let us know once you’ve gotten into the list. 😉

    Reply
  3. it’s ok to be poor in the philippines. at least, you will no be branded as something lower than a maggot-infesting-excrements like those selfish & soul less maggot-infesting-excrements.

    Reply
  4. TO
    THE CHAIRMAN
    GROUP OF COMPANIES
    namastey we are the n.g.o.with regestered by govt.no.309/2004.
    please see our websites and
    donate. online to our account
    sir our society concentrating on women development from 10 years.
    MERCY
                  MERCY                 MERCY       ON POOR PEOPLE
    http://www.poorwelfare.org
    and http://www.poorpeoplewelfare.net
    in the support us column our bank details are there sir,
    please kindly help our trust
    thank you sir
    Bank A/c No:070010100191203.
    IFSC:UTIB0000070
    SWIFT CODE :AXISINBB070
    sir we are doing works for rural poor providing them education,aids
    work, developing them and arts and cultural programmes.
    our society doing seva to christian poor people and also to all poor
    people from 2004 may on wards..my aim is for this janma given
    by god we have to serve poorpeople, elder people and other
    blind people,mentally handicapped people and also those children
    left out their elders(old age persons–this ishearting my heart),from
    childhood my ambition is to do for poor people
    WE GOT THE ONE OF THE BEST SEVA SOCIETY AWARD   OF ALL INDIA.
    WE ARE DOIG SEVA WORKS FOR AID PEOPLE.
    OUR SOCIETY SINCERLY DOING HIGHLEVEL SEVA TO WOMEN DEVELOPMENT
    SOCIETY PERFORMING ARTS PROGRAMMES ALSO  AND ALSO  CULTURAL PROGRAMMES
    BUDGET PERMITTS  WE WILL DO LOT WORKS FOR POOR
    sir we are serving all poor people like giving food and shelter
    and education every day with lot ot of sincearity.oldage people and
    mentally handicapped people and blind people are there. since 10
    years we are doing with reality with god,s grace.
    every day we are facing difficulties about fund. please
    arrange permanant fund for our society to poor people
    sir permanant deposit for food for poor people we want only
    rs. 5 crores.i.e. 11 lakh dollars.on this deposit we will do the anndanams and free services and development to
    poorpeople.

    Reply
  5. TO
    THE CHAIRMAN
    GROUP OF COMPANIES
    namastey we are the n.g.o.with regestered by govt.no.309/2004.
    please see our websites and
    donate. online to our account
    sir our society concentrating on women development from 10 years.
    MERCY
                  MERCY                 MERCY       ON POOR PEOPLE
    http://www.poorwelfare.org
    and http://www.poorpeoplewelfare.net
    in the support us column our bank details are there sir,
    please kindly help our trust
    thank you sir
    Bank A/c No:070010100191203.
    IFSC:UTIB0000070
    SWIFT CODE :AXISINBB070
    sir we are doing works for rural poor providing them education,aids
    work, developing them and arts and cultural programmes.
    our society doing seva to christian poor people and also to all poor
    people from 2004 may on wards..my aim is for this janma given
    by god we have to serve poorpeople, elder people and other
    blind people,mentally handicapped people and also those children
    left out their elders(old age persons–this ishearting my heart),from
    childhood my ambition is to do for poor people
    WE GOT THE ONE OF THE BEST SEVA SOCIETY AWARD   OF ALL INDIA.
    WE ARE DOIG SEVA WORKS FOR AID PEOPLE.
    OUR SOCIETY SINCERLY DOING HIGHLEVEL SEVA TO WOMEN DEVELOPMENT
    SOCIETY PERFORMING ARTS PROGRAMMES ALSO  AND ALSO  CULTURAL PROGRAMMES
    BUDGET PERMITTS  WE WILL DO LOT WORKS FOR POOR
    sir we are serving all poor people like giving food and shelter
    and education every day with lot ot of sincearity.oldage people and
    mentally handicapped people and blind people are there. since 10
    years we are doing with reality with god,s grace.
    every day we are facing difficulties about fund. please
    arrange permanant fund for our society to poor people
    sir permanant deposit for food for poor people we want only
    rs. 5 crores.i.e. 11 lakh dollars.on this deposit we will do the anndanams and free services and development to
    poorpeople.

    Reply
  6. TO
    THE CHAIRMAN
    GROUP OF COMPANIES
    namastey we are the n.g.o.with regestered by govt.no.309/2004.
    please see our websites and
    donate. online to our account
    sir our society concentrating on women development from 10 years.
    MERCY
                  MERCY                 MERCY       ON POOR PEOPLE
    http://www.poorwelfare.org
    and http://www.poorpeoplewelfare.net
    in the support us column our bank details are there sir,
    please kindly help our trust
    thank you sir
    Bank A/c No:070010100191203.
    IFSC:UTIB0000070
    SWIFT CODE :AXISINBB070
    sir we are doing works for rural poor providing them education,aids
    work, developing them and arts and cultural programmes.
    our society doing seva to christian poor people and also to all poor
    people from 2004 may on wards..my aim is for this janma given
    by god we have to serve poorpeople, elder people and other
    blind people,mentally handicapped people and also those children
    left out their elders(old age persons–this ishearting my heart),from
    childhood my ambition is to do for poor people
    WE GOT THE ONE OF THE BEST SEVA SOCIETY AWARD   OF ALL INDIA.
    WE ARE DOIG SEVA WORKS FOR AID PEOPLE.
    OUR SOCIETY SINCERLY DOING HIGHLEVEL SEVA TO WOMEN DEVELOPMENT
    SOCIETY PERFORMING ARTS PROGRAMMES ALSO  AND ALSO  CULTURAL PROGRAMMES
    BUDGET PERMITTS  WE WILL DO LOT WORKS FOR POOR
    sir we are serving all poor people like giving food and shelter
    and education every day with lot ot of sincearity.oldage people and
    mentally handicapped people and blind people are there. since 10
    years we are doing with reality with god,s grace.
    every day we are facing difficulties about fund. please
    arrange permanant fund for our society to poor people
    sir permanant deposit for food for poor people we want only
    rs. 5 crores.i.e. 11 lakh dollars.on this deposit we will do the anndanams and free services and development to
    poorpeople.

    Reply
  7. masikap naman ang mga Pinoy..believe me there are millions of hardworking pinoys and pinays.may mga greedy biznesmen lang who do not play fair…yung owner ng puregold siguro may ambition makasama sa top 10..at the expense ng mga employees nila..hindi nagbabayad ng legal na sahod yan sa mga employees at contractuals..hindi rin nagbabayad ng overtime pay yan..ang mga empleyado obligado mag ot pro walang OT pay lam nyo ba yun?

    Reply

Leave a Comment