Forbes lists 11 Pinoy billionaires

Mall tycoon Sy remains on top while Danding drops from elite group

MANILA — The number of Filipinos in the Forbes Billionaires List has grown to 11 this year from six a year ago, with mall tycoon Henry Sy Sr remaining on the top spot while industrialist Eduardo ‘Danding’ Cojuangco dropping from the elite circle.

His nationwide investments in malls and other businesses gave Sy a net worth of $13.2 billion, up to 68th place from 116th in the global list of the elite group of only 1,426 people who have a net worth of at least $1 billion and collectively control $5.4 trillion of the world’s wealth.

“To compile net worths, we value individuals’ assets—including stakes in public and private companies, real estate, yachts, art and cash—and account for debt,” said Forbes, which has been coming up with the annual list of the world’s dollar-billionaires since 1987.

Last year, 1,226 dollar-billionaires worldwide controlled $4.6 trillion of the world’s wealth.

Released on Monday, this year’s Forbes magazine’s list said that beer and tobacco magnate Lucio Tan was the second-richest Filipino with a net worth of $5 billion, placing him on the 248th spot from last year’s 314th.

The third richest Filipino on the list was port and casino giant Enrique Razon Jr, having a net worth of $4.9 billion. He rose to the 258th spot from 683rd in the global ranking. He overtook businessman Andrew Tan, who placed 345th from 601st with a net worth of $3.95 billion.

Businessman Roberto Ongpin, meanwhile, dropped to the 1,175th spot from 1,153rd, although his net worth grew to $1.5 billion from $1 billion. He shared the new ranking with real-estate magnate Andrew Gotianun and his family.

Carlos Slim, the Mexican telecoms tycoon, was on top of the global list with a net worth of $73 billion, followed by American and Microsoft founder Bill Gates, whose net worth was placed at $67 billion.

Investment demigod Warren Buffet slid from the top three for the first time since 2000, having a net worth of $53.5 billion, with Spanish fashion retailer Amancio Ortega, who owns Zara, replacing him with a net worth of $57 billion.

The five other Filipino billionaires in the Forbes list were construction giant David Consunji and his family, whose rank was 503rd with a net worth of $2.8 billion; banking tycoon George Ty and family, 554th with $2.6 billion; Lucio and Susan Co, owners of Puregold, a chain of hypermarkets (736th, $2 billion); businessman Roberto Coyiuto Jr (931st, $1.6 billion); and Tony Tan Caktiong and family, owners of hamburger and restaurant chain Jollibee (1,031st, $1.4 billion).

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