Villar still the wealthiest Filipino with P283B net worth

Manny Villar 030719 - Villar still the wealthiest Filipino with P283B net worth

Manuel B. Villar, Jr. remains the richest Filipino in 2020 based on Forbes Magazine’s latest list of world billionaires. 

The Forbes World’s Billionaires List came out Tuesday night, hailing real estate tycoon and former senator Mr. Villar as the wealthiest in the Philippines with a net worth of$5.6 billion (about P283.11 billion). 

A total of 15 Filipinos made this year’s billionaire list, which Forbes collected using stock prices and exchange rates from March 18. The list is composed of individuals with an estimated net worth of at least $1 billion, and totaled 2,095 billionaires, fewer by 58 persons from in 2019.

Mr. Villar ranked 286th in the global list with his wealth growing about 2% from last year’s $5.5 billion (about P278.06 billion). 

He is the chairman of four listed companies: real estate firm Vista Land & Lifescapes, Inc.; mall operator Vistamalls, Inc.; death-care service provider Golden Bria Holdings, Inc.; and home improvement retailer AllHome Corp. 

In the ongoing coronavirus disease 2019 (COVID-19) pandemic, Mr. Villar has donated disinfecting apparatus, face masks and a daily supply of bottled water to the government for distribution to government hospitals. 

His group of companies also teamed up with a local construction firm in assisting the Department of Public Works and Highways, which is headed by Mr. Villar’s son Mark A. Villlar, in building a health facility in the Philippine International Convention Center for COVID-19 patients.

Following Mr. Villar in Forbes’ list of billionaires is port and gaming magnate Enrique K. Razon, Jr. — second richest in the Philippines and 565th in the global list. He took the place of JG Summit Holdings, Inc. founder John L. Gokongwei, Jr. who died in late 2019.

Mr. Razon recorded a net worth of $3.4 billion (about P171.89 billion) in 2020, down by about 29% from last year’s $4.8 billion (about P242.95 billion).

Mr. Razon is the chairman of listed port operator International Container Terminal Services, Inc. and hotel and gaming operator Bloomberry Resorts Corp. He also recently took a stake in Ayala-led water concessionaire Manila Water Co., Inc.

In the fight against COVID-19, Mr. Razon is taking part in a consortium of companies helping communities affected by the Luzon-wide lockdown through a P1.7-billion donation. His infrastructure firm Prime Metro BMD Corp. is also working with the government to transform the Ninoy Aquino Stadium into a COVID-19 facility.

The children of SM Investments Corp. (SMIC) founder Henry Sy, Sr., who died in early 2019, took the next four spots in the country’s wealthiest men: Hans T. Sy and Herbert T. Sy tied at 1,063rd in the global list with net worth of $2 billion each (about P101.23 billion); and Harley T. Sy and Henry T. Sy, Jr. tied at 1,135th with net worths of $1.9 billion each (about P96.17 billion).

Hans’ and Herbert’s net worths this year fell from last year’s $2.4 billion each (about P121.48 billion), while Harley’s and Henry Sr.’s net worths dropped from last year’s $2.2 billion (about P111.35 billion).

Their two other siblings also made the list: Teresita T. Sy-Coson ranked eighth in the local list and 1,196th in the global list with a net worth of $1.8 billion (about P91.11 billion), and Elizabeth T. Sy ranked 12th in the local list and 1,335th in the global list with a net worth of $1.6 billion (about P80.98 billion).

Teresita’s wealth declined from last year’s $2.2 billion (about P111.35 billion), while Elizabeth’s wealth decreased from last year’s $1.9 billion (about P96.17 billion).

In helping in the ongoing health crisis, the Sy family, through the SM Group, has earmarked more than P170 million to buy personal protective equipment, test kits and ventilators to be given to hospitals. 

Other Filipino billionaires that made the list include Alliance Global Group, Inc. Chairman Andrew L. Tan (tied with Hans and Herbert at 1,063rd), with a net worth of $1.9 billion (about P96.17 billion). His wealth this year is lower from last year’s $2.7 billion (about P136.66 billion).

Alphaland Corp. Chairman Roberto V. Ongpin also made the list — ninth locally and 1,267th globally. His net worth stood at $1.7 billion (about P86.05 billion), higher from last year’s $1.1 billion (about P55.68 billion).

LT Group, Inc. and PAL Holdings, Inc. Chairman Lucio C. Tan, whose businesses expand across banking, tobacco, spirits, property and airlines, was the 10th richest man in the country and 1,267th in the world. His net worth dropped to $1.7 billion (about P86.05 billion) from last year’s $4.4 billion (about P222.71 billion).

Mr. Tan is tied with Jollibee Foods Corp. founder Tony Tan Caktiong and his family, whose net worth of $1.7 billion (about P86.05 billion) this year fell from last year’s $3.9 billion (about P197.4 billion).

Completing the list from ranks 13th to 15th are San Miguel Corp. President and Chief Operating Officer Ramon S. Ang; Prudential Guarantee & Assurance Chairman Robert G. Coyiuto, Jr.; and San Miguel Chairman Eduardo M. Cojuangco, Jr.

Mr. Ang’s and Mr. Coyiuto’s net worths were at $1.4 billion each (about P70.86 billion). This is lower for Mr. Ang whose wealth in 2019 stood at $2.9 billion (about P146.78 billion). Mr. Coyiuto’s net worth was flat. 

Mr. Cojuangco recorded a net worth of $1 billion (about P50.61 billion), down from last year’s $1.4 billion (about P70.86 billion).  

Forbes noted 51% of the billionaires in this year’s billionaire list are “poorer” from a year ago, which it attributed to the collapse of global equities and business declines due to the COVID-19 pandemic.

The consolidated net worth of the billionaires in the list stood at $8 trillion (about P404.92 trillion), lower by $700 billion year on year. 

Topping the global list are Amazon founder Jeff Bezos ($113 billion from last year’s $131 billion) and Microsoft founder Bill Gates ($98 billion from last year’s $96.5 billion).

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