Real estate tycoon and former Senate president Manuel B. Villar emerged as the Philippines’ richest man, according to Forbes Magazine’s list of world’s richest for 2019.
With a net worth of $5.5 billion, Villar owns three listed companies: Vista Land & Lifescapes Inc., Golden Bria Holdings Inc. and Starmalls Inc.
Villar, who now ranks 317th worldwide, took the top spot occupied by retail tycoon Henry Sy Sr., who passed away Jan. 19.
READ: SM Group founder Henry Sy Sr. has died aged 94
Taking the second spot is business tycoon John Gokongwei Jr., with a net worth of $5.1 billion. Gokongwei, who ranks 343 worldwide, is currently the chairman emeritus of conglomerate JG Summit Holdings Inc., which has investments in food manufacturing, airline, petrochemicals, power generation and financial services.
Ports tycoon Enrique Razon Jr., who also owns integrated entertainment and gaming complex Solaire Resorts & Casino, came in third with net worth of $4.8 billion.
Razon improved his ranking worldwide to 379th place from last year’s 404th place.
Taipan Lucio Tan ranked fourth with a net worth of $4.4 billion from his investments in airlines, banking, property, and tobacco and spirits manufacturing.
Tony Tan Caktiong and family of fast-food giant Jollibee Foods Corp. placed fifth with net worth of $3.9 billion.
Other Filipino taipans who made it to the Forbes world’s richest list were San Miguel president Ramon Ang with a net worth of $2.9 billion; and Alliance Global Group chairman Andrew Tan with a net worth of $2.7 billion.
Sy’s six children occupied the 8th to 10th spot with Hans and Herbert tied at 8th position with a net worth of $2.4 billion.
Harley, Henry Jr. and Teresita were in 9th spot with $2.2 billion, while Elizabeth was at the 10th place with $1.9 billion.
Tied at the 11th spot are San Miguel chairman Eduardo Cojuangco and Robert Coyiuto Jr. with a net worth of $1.4 billion.
Rounding up the list of Filipinos included in Forbes’ list are Ricardo Po Sr. and his family of Century Pacific Foods Corp. ($1.2 billion) and Roberto Ongpin ($1.1 billion).
For the second year running, Amazon’s Jeff Bezos remained the world’s richest man, increasing his net worth to $131 billion, up $19 billion from 2018.
Bill Gates, who held the top spot for the longest period of time, remained in the No. 2 position with a fortune of $96.5 billion, up from $90 billion last year.