...the tycoons

6 PH tycoons make it to Forbes list of world’s wealthiest

By: Doris C. Dumlao
Philippine Daily Inquirer

Thursday, March 8th, 2012

HENRY SY SR.. INQUIRER file photo

MANILA, Philippines — Six tycoons from the Philippines led by Henry Sy made it to Forbes Magazine’s list of the wealthiest people on the planet.

Based on Forbes’ list of the world’s billionaires, Sy and family ranked 116th or the highest among local tycoons with an estimated net worth of $8 billion.

The 87-year-old Sy leads SM Investments, the dominant player in Philippine banking, retailing, shopping mall development as well as a fast growing player in residential and tourism-oriented property development. His group has also recently added mining to  its portfolio.

Lucio Tan and family ranked 314th on the global list with an estimated net worth of $3.5 billion.

Tan, 77, has interests in tobacco and liquor manufacturing, airline, property and banking. He has vast property interests in mainland China.

Property mogul Andrew Tan ranked 601st on the global list with an estimated net worth of $2.1 billion.

Tan (not related to Lucio), 59, built a fortune out of real estate development, particularly in offering high-rise residential units to the mass market and in pioneering mixed-use developments to attract business process outsourcing firms.

He has also successfully ventured into the gaming business in partnership with the Genting group of Malaysia.

Enrique Razon Jr., 52, is the fourth and the youngest tycoon from the Philippines on the global list with an international rank of 683rd.  Forbes estimated his net worth at $1.9 billion.

Razon has built a fortune international port operations. He has unloaded his interest in the country’s electricity transmission superhighway National Grid and is now building a casino-hotel complex in Pagcor City.  He also has an interest in oil exploration.

San Miguel Corp. chairman Eduardo “Danding” Cojuangco, 76, is the fifth Philippine tycoon on the list with a global rank of 960th.  The 76-year-old tycoon has an estimated net worth of $1.3 billion.

Lucio Tan INQUIRER FILE PHOTO

Cojuangco has a 15-percent stake in SMC which has diversified from its traditional food and beverage businesses into other industries like power generation, power distribution (via a minority but significant stake in Manila Electric Co., oil refining, mining, tollroad, airport, banking and telecommunications.

Former Trade Minister Roberto V. Ongpin, 75, ranked 1,153rd on the global list with an estimated net worth of $1 billion.

Ongpin brought in London-based Ashmore as a partner in Philippine investments in recent years.  Apart from his interest in San Miguel and Petron Corp., Ongpin is into real estate, mining and recently ventured into banking.

Forbes published on March 7 a gallery of the richest people on the planet.

For 2012, Forbes counted an all-time high 1,226 billionaires around the world worth a record $4.6 trillion, compared to a list of 140 names when it started this tradition of counting billionaires 25 years ago.

At the top of Forbes’ list is 72-year-old Mexican billionaire Carlos Slim Helu with an estimated net worth of $69 billion.

Microsoft founder Bill Gates, 56, is second with an estimated net worth of $61 billion.  Investment guru Warren Buffet, 81, chairman of Berkshire Hathaway, ranked 3rd with an estimated net worth of $44 billion