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12 Filipino Tycoons Among Forbes' Richest

TWELVE Philippine tycoons, including retail and banking tycoon Henry Sy, have been included in Forbes Magazine’s list of world’s richest for 2018.

While the number is lower compared to 14 last year, their combined net worth expanded to $55.2 billion from P45.8 billion.

Sy remained as the country’s richest with total net worth of $20 billion, which is nearly double last year’s $12.7 billion. The 93-year old tycoon now ranked 52nd worldwide, the highest ranking Sy has achieved since topping the list for 11 consecutive years.

Worldwide, Amazon chief Jeff Bezos is now the world’s richest person, having snatched the top spot from Microsoft founder Bill Gates who slips to second place, according to Forbes magazine’s annual billionaires list published Tuesday.

US President Donald Trump’s ranking on the list fell to 766th place from 544th in the last edition, his wealth now being estimated at $3.1 billion, $400 million less than a year ago.

Bezos’ fortune shot up to $112 billion, Forbes said, after a 59-percent rise in Amazon shares over the past 12 months that put him way ahead of the $90 billion listed for Gates.

After the announcement, Bezos’ worth rocketed again to $127 billion in line with a spike in Amazon stock, widening the gap between him and Gates. 

In the Philippines, JG Summit Holdings chairman emeritus John Gokongwei Jr., came in far second against Sy, with net worth of $5.6 billion, and ranked in 305th place among the world’s richest.

Ports tycoon Enrique Razon Jr., who also owns gaming complex Solaire Resorts, was ranked 3rd in the Philippines and 404th richest worldwide with net worth of $4.9 billion.

Other Filipino taipans who made it to the list were beer and tobacco tycoon Lucio Tan (#441, $4.7 billion), Jollibee Foods Corp. chairman Tony Tan Caktiong (#550, $4 billion), Metrobank GT Capital Holdings chairman George Ty (#572, $3.9 billion), Vista Land and Lifescapes founder Manuel Villar (#791, $3 billion), Alliance Global chairman Andrew Tan (#887, $2.7 billion) San Miguel Corp., president Ramon Ang (#965, $2.5 billion) Prudential Guarantee and Assurance chairman Robert Coyiuto Jr (#1,650, $1.4 billion) San Miguel Corp. chairman Eduardo Cojuangco Jr (#1,756, $1.3 billion) and Alphaland Corp. chairman Roberto Ongpin (#1,999, $1.1 billion)

David Consunji, who died in September 2017, and Edgar Sia II, who debuted in the March 2017 Forbes Philippine list, were out of 2018 list.

Legendary investor Warren Buffett held on to his number-three ranking, followed by French industrialist Bernard Arnault, who jumped to fourth-richest person from his previous number 11 spot, mostly thanks to euro strength against the dollar, the magazine said.

Facebook’s Mark Zuckerberg was fifth on the list.

Two Chinese billionaires rose to be among the 20 richest people in the world: Ma Huateng, CEO of Chinese internet giant Tencent who is the richest person in Asia and  number 17 in the world,  and Alibaba founder Jack Ma.

There are now a record 2,208 billionaires in the world, Forbes counted, and their combined worth is $9.1 trillion, up 18 percent from last year.

The US has the most billionaires (585), followed by mainland China (373).

Forbes’ list contains 259 newcomers, including the first-ever cryptocurrency billionaires.

Falling fortunes or political headwinds, meanwhile, pushed 121 people out of the illustrious list, including all 10 Saudi Arabians, the magazine said. With AFP

Topics: Philippine tycoons , Henry Sy , Forbes Magazine , Lucio Tan , Enrique Razon Jr. , John Gokongwei Jr.

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