Richest Man in the Philippines 2023 – Top 10 List ( with Networth )

Richest Man in the Philippines 2023

The Philippines has been experiencing significant economic growth in recent years, with a focus on developing industries such as technology and infrastructure. As a result, the country has seen the rise of new billionaires and the growth of existing ones. Forbes’ Billionaires list has identified several billionaires from the Philippines, including the Sy siblings Teresita, Elizabeth, Henry Jr., Hans, Herbert and Harley, who inherited their fortune from their self-made late father, Henry Sy Sr. The Sy siblings are considered as the richest family in the Philippines, with a combined net worth of $12.6 billion. Their wealth largely comprises stakes in the group’s publicly traded SM Investments and SM Prime, which are two of the largest conglomerates in the country with interests in various industries such as retail, real estate, and banking. The Sy siblings are just a few examples of the growing number of wealthy individuals in the Philippines who have contributed to the country’s economic growth.

Top 10 Richest in the Philippines 2023

Here is the list of the richest men in Philippines 2023:

S.No.	Name of the Person	Net worth
1	Manuel “Manny” Villar	$8.6B
2	Enrique Razon Jr.	$7.2B
3	Ramon Ang	$3.4B
4	Andrew Tan	$2.5B
5	Henry Sy Jr.	$2.5B
6	Hans Sy	$2.4B
7	Herbert Sy	$2.4B
8	Lucio Tan	$2.4B
9	Harley Sy	$2.2B
10	Teresita Sy-Coson	$2.2B

As of 2023, Manuel Villar has been recognized as the wealthiest individual in the Philippines, possessing a net worth of $8.6 billion. He amassed his fortune in the real estate industry by establishing Vista Land and Lifescapes, a prominent homebuilding firm in the country. With over 20 brands under its portfolio, including Camella Homes, Brittany, and Crown Asia, the company has become one of the largest players in the Philippine housing market. Apart from real estate, Villar has also diversified his interests in other sectors, such as retail, banking, and water infrastructure. As the chairman of Starmalls, a leading shopping mall developer in the Philippines, he has further strengthened his position in the retail industry. Villar is also an active participant in Philippine politics, reflecting his commitment to public service.

Enrique Razon Jr., a renowned business magnate, has amassed a considerable net worth of $7.2 billion through his astute investments and in-depth knowledge of the shipping industry. He currently holds the positions of chairman and CEO at International Container Terminal Services (ICTSI), a globally recognized port management company with operations in several countries worldwide. ICTSI has set a benchmark for modern port management by utilizing advanced technology to optimize operations and increase efficiency. Besides shipping, Razon has made significant investments in the energy and gaming sectors. As the chairman of Bloomberry Resorts, he oversees the operation of the renowned Solaire Resort and Casino located in Manila, a prominent gaming destination in the Philippines. Razon’s ventures reflect his unwavering commitment to innovative and dynamic business practices.

Ramon Ang is a notable Filipino billionaire with a net worth of approximately $3.4 billion as of 2023. His wealth can be attributed to his successful foray into various industries, including food and beverage, infrastructure, and automotive. Ang currently holds the position of CEO and president at San Miguel Corporation (SMC), a massive conglomerate in the Philippines with diversified interests in power generation, food and beverage, and infrastructure. He is also the chairman of Eagle Cement Corporation, a prominent company specializing in cement production and distribution. Ang’s business acumen and strategic vision have played a vital role in shaping the trajectory of his ventures, making him a prominent figure in the Philippine business landscape.

Andrew Tan is a prominent Filipino entrepreneur who has established his fortune in several industries. He is the founder and chairman of Alliance Global Group (AGI), a notable holding company with diversified interests in real estate, food and beverage, and gaming. Under the banner of Megaworld Corporation, Tan has spearheaded numerous large-scale real estate ventures, including Eastwood City and Newport City, which are renowned for their exceptional residential and commercial properties, as well as world-class casinos. Besides real estate, Tan has also made significant investments in the food and beverage sector. As the chairman of Emperador Inc., he oversees the production of high-quality brandy, making it one of the largest brandy producers globally. With his visionary leadership, Tan has played a crucial role in expanding his ventures, making him a revered figure in the Philippine business arena.

Henry Sy Jr., the eldest son of the legendary tycoon Henry Sy Sr., has followed in his father’s footsteps to become a highly successful entrepreneur in his own right. The Sy family’s business roots can be traced back to 1958 when Henry Sr. opened a shoe store called “Shoemart” that eventually grew into the conglomerate SM Group. Henry Jr. currently holds the positions of co-vice chairman at SM Investments, the holding company of SM Group, and chairman of its property arm, SM Prime. Prior to this, he served as the CEO and president of the National Grid Corporation of the Philippines, responsible for the country’s power transmission network. Despite the challenges brought about by the Covid-19 pandemic, Henry Jr. has proven himself to be a worthy successor to his father’s legacy, skillfully navigating the family’s businesses and braving competition from rivals such as Ayala, Megaworld, Robinsons, and Mercury Drug. His visionary leadership and strategic decision-making have cemented his position as a prominent figure in the Philippine business landscape.

Hans Sy, the fourth child of the late Henry Sy Sr., is a highly successful businessman who currently holds several key positions in various companies. He serves as the chairman of the executive committee at SM Prime, which is the Sy family’s property arm, as well as the chairman of China Banking Corporation. Hans is also involved in other ventures engaged in real estate, mall operations, leisure, and tourism. Besides his business pursuits, he is known for his advocacy for environmental sustainability and disaster resilience. As the first Filipino to be a member of the United Nations International Strategy for Disaster Reduction Private Sector Alliance for Disaster Resilient Societies Board of Trustees, Hans is a passionate advocate for the adoption of disaster risk reduction and management practices among businesses. His advocacy efforts have earned him recognition and numerous awards, making him a highly respected figure in the Philippine business and environmental communities.

Herbert Sy, the fifth sibling of the Sy family, holds important positions in various companies under the SM Group. He is an adviser of SM Investments, the group’s holding company, and a director of SM Prime, which is responsible for the group’s real estate and property development businesses. In addition to these roles, he also serves as the chairman of several companies under the group’s retail sector, including Supervalue, Super Shopping Market, and Sanford Marketing. These companies are the driving force behind the SM Group’s popular supermarket, hypermarket, and grocery store brands, such as SM Supermarket, SM Hypermarket, and Savemore.

Under Herbert’s leadership, the SM Group has expanded its retail presence not just in the Philippines, but also in other countries. He has introduced new concepts and innovations that address changing consumer needs and preferences, such as online shopping and home delivery services. Herbert also serves as a director of Alfamart Trading, a joint venture between the SM Group and Indonesia’s Alfamart. The venture aims to operate a chain of convenience stores in the Philippines, providing customers with greater access to affordable and convenient products. With his extensive experience in the retail industry, Herbert Sy is a key figure in the continued success and growth of the SM Group.

Lucio Tan is a prominent Filipino businessman and one of the wealthiest people in the country. He has been successful in a range of industries, including aviation, tobacco, liquor, real estate, banking and hospitality. As the chairman and CEO of Philippine Airlines, Tan is responsible for the country’s flag carrier airline, which operates both domestic and international flights. He also owns Philip Morris Philippines Manufacturing Inc., which produces some of the most popular cigarette brands in the country.

Tan’s investments in the liquor industry have also been a significant contributor to his wealth. He is the chairman of Tanduay Distillers, which is known for its high-quality rum and other alcoholic beverages. Under his leadership, Tanduay has expanded its operations to other countries and has become one of the largest liquor producers in the Philippines.

In addition to these ventures, Tan has also invested in real estate, owning prime properties across the country. He is the chairman and CEO of Eton Properties Philippines, which is involved in the development and management of residential and commercial properties. Tan is also the founder and chairman of the LT Group, which is involved in banking, real estate, hospitality and other industries.

Despite his vast wealth and success, Tan has also faced controversies, including issues with tax evasion and illegal cigarette trading. Nonetheless, his business acumen and leadership have made him a respected figure in the Philippine business community.

Harley Sy, the sixth child of Henry Sy Sr., is a Filipino billionaire with a net worth of $2.2 billion. He is a director of SM Investments Corporation (SMIC), a conglomerate with interests in diverse industries such as retail, real estate, and banking. As a member of the SMIC board, Harley Sy is involved in the strategic direction and decision-making processes of the company. He plays a significant role in driving SMIC’s expansion plans and overseeing its various subsidiaries.

One of the major subsidiaries of SMIC is SM Prime Holdings, a leading integrated property developer in the Philippines. Harley Sy is also a director of SM Prime and contributes to the growth and development of the company’s various real estate projects, such as malls, residences, and hotels.

Apart from his involvement in business, Harley Sy is also committed to philanthropy. He serves as the chairman of the Henry Sy Foundation, a non-profit organization established by his late father, Henry Sy Sr. The foundation supports various initiatives related to education, health, and disaster relief efforts in the Philippines. Harley Sy believes in giving back to society and making a positive impact on the lives of people, especially those in need.

In summary, Harley Sy is an influential figure in the Philippines, with significant contributions in the business and philanthropic sectors. His role as a director of SMIC and SM Prime Holdings enables him to drive growth and innovation in the country’s retail and real estate industries. His philanthropic efforts through the Henry Sy Foundation have positively impacted many lives, making him a respected and admired personality in the Philippines.

Teresita Sy-Coson, the eldest of the Sy siblings and the first daughter of Henry Sy Sr., is a prominent businesswoman in the Philippines. She is the co-chairman of SM Investments Corporation (SMIC), the country’s largest conglomerate, which has interests in various sectors such as retail, real estate, and banking. After completing her undergraduate studies, her father discouraged her from pursuing graduate studies and invited her to work with him instead. She began her career in the family business by managing Shoemart’s bank, which eventually became BDO Unibank, one of the largest banks in the Philippines.

Sy-Coson is known for advocating financial inclusion in the Philippines and has played a pivotal role in establishing microfinance institutions that provide financial services to small entrepreneurs and low-income households. She also established the SM Foundation, which has supported various charitable causes such as education, healthcare, disaster response, and community development. Sy-Coson serves on the board of several organizations, including the World Wildlife Fund and the Asian Institute of Management, where she advocates for sustainable development and social entrepreneurship. She has received numerous awards and recognition for her business and philanthropic contributions, including being named one of Forbes Asia’s Power Businesswomen.

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Richest Person in the Philippines 2023

Manuel “Manny” Bamba Villar Jr. is a successful Filipino businessman and former politician. He served as a senator from 2001 to 2013, during which he also held the position of President of the Senate of the Philippines from 2006 to 2008. Prior to his tenure in the Senate, he represented Las Piñas-Muntinlupa district from 1992 to 1998 and Las Piñas’ at-large district from 1998 to 2001. Villar was also the speaker of the House of Representatives from 1998 to 2000 and presided over the impeachment of President Joseph Estrada during his term. With an estimated net worth of $8.3 billion, Forbes magazine named Villar as the richest person in the Philippines from 2019 to 2022.

Despite being born into a poor family in Tondo, Manila, Villar worked hard and eventually graduated from the University of the Philippines. He started his career as an accountant and financial analyst, but eventually ventured into real estate, where he built a highly successful business. His companies have built over 200,000 homes, making him the wealthiest person in the Philippines. In 2010, Villar ran for president under the Nacionalista Party but lost to Benigno Aquino III. Despite his defeat, Villar remains active in the business sector and continues to support various philanthropic causes in the country.

Top 10 Richest in the Philippines 2022

Here is the list of the richest men in Philippines 2022:

S.No.	Name of the Person	Net Worth
1	Sy siblings	$12.6 B
2	Manuel Villar	$7.8 B
3	Enrique Razon Jr.	$5.6 B
4	Lance Gokongwei & siblings	$3.1 B
5	Aboitiz family	$2.9 B
6	Isidro Consunji & siblings	$2.65 B
7	Tony Tan Caktiong & family	$2.6 B
8	Jaime Zobel de Ayala & family	$2.55 B
9	Ramon Ang	$2.45 B
10	Andrew Tan	$2.4 B

Richest Man in the Philippines 2022

The Sy siblings are a prominent family in the Philippines, known for their vast business empire and immense wealth. The family’s patriarch, the late Henry Sy Sr., was a self-made billionaire who started from humble beginnings and built his fortune through his conglomerate, the SM Group. After his passing in 2019, his six children inherited his vast fortune and business interests, making them some of the wealthiest individuals in the country.

The Sy siblings consist of Teresita Sy-Coson, Elizabeth Sy, Henry Sy Jr., Hans Sy, Herbert Sy, and Harley Sy. They are all involved in the family business and hold key positions in various companies under the SM Group, which operates in industries such as retail, real estate, banking, and hospitality. The Sy siblings are known for their business acumen and innovative approach to entrepreneurship, as well as their commitment to philanthropy and environmental sustainability. Together, the Sy siblings have a combined net worth of billions of dollars, making them some of the richest individuals not just in the Philippines, but in the world. They have been featured in Forbes’ Billionaires list and have been recognized for their contributions to the Philippine economy and society.

Richest Man in the Philippines 2021

Here is the list of the richest men in Philippines 2021:

S.No.	Name of the Person	Net Worth
1	Sy Siblings	$16.6 billion
2	Manuel “Manny” Villar Jr.	$6.7 billion
3	Enrique Razon	$5.8 billion
4	Lance Gokongwei and Siblings	$4 billion
5	Jaime Zobel de Ayala	$3.3 billion
6	Dennis Anthony & Maria Grace Uy	$2.8 billion
7	Tony Tan Caktiong	$2.7 billion
8	Andrew Tan	$2.7 billion
9	Ramon Ang	$2.3 billion
10	Ty Siblings	$2.2 billion

Forbes Billionaires List Philippines

The World’s Billionaires is an annual ranking of the wealthiest billionaires in the world, compiled and published by Forbes, a prestigious American business magazine, in March of each year. The list ranks individuals based on their documented net worth, which is estimated in United States dollars, taking into account their assets and liabilities. Individuals whose wealth comes from positions of royalty or political power are excluded from the ranking. The ranking is an index of the wealthiest documented individuals, excluding those whose wealth cannot be fully ascertained.

In 2018, Jeff Bezos, the founder of Amazon, was ranked at the top of the list for the first time, becoming the first person to be included as a centibillionaire. He surpassed Bill Gates, the founder of Microsoft, who had topped the list for 18 of the previous 24 years. However, in 2022, Elon Musk surpassed Bezos to become the wealthiest person in the world, according to Forbes’ Billionaires list. The rankings of the world’s billionaires are closely followed and reported by the media and the public, as they reflect the changing fortunes of some of the world’s most successful individuals and their impact on global economies.

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