A New Class of HNWI take the spots for Philippines Richest 2019

Christopher Zenios24/12/20193min
In January of 2019, the Philippines lost a long-time member of the richest individual club, the late tycoon Henry Sy. This pushed the second generation of successors in place to hold the spot for the richest individuals in the Philippines.

After the passing of Henry Sy Sr., his six siblings took over the combined net worth of $17.2 billion, that emanated and continues to originate from the country’s largest firm, SM Group. This high net worth was held by Sy Sr. for 11 consecutive years. The Sy siblings are Teresita, Elizabeth, Henry Jr, Hans, Herbert, and Harley Sy.

The inherited assets are mostly comprised of stakes which are held in the group SM Investment Corp, a corporation that consists of shopping malls and real estate, and also SM Prime Holdings Inc, a real estate developer.

The Ty Siblings of GT Capital are Arthur, Alfred, Alesandra, and Anjanette and they succeeded their father George Ty, who developed GT into a major conglomerate which consists and includes real estate, insurance, power generation, and automotive firms. These siblings are currently the 9th richest in the Philippines with a combined net worth of $2.6 billion.

Jocelyn, Joselito, and Jeffrey Campos, also known as the Campos Siblings, replaced the late Beatrice Camps which had a net worth of $650 million. Their riches stem from the Philippines’ pharmaceutical behemoth Unilab – cofounded by Jose Campos – of which Jocelyn – the eldest sibling – is the company chairman now.

Among the new class of HNWI was Antonio Lee Tiu who entered the list of Philippines richest with a net worth of $135 million. Antonio has shares of agri-products that he founded 22 years ago and have been steading risings in the past several years.

Energy and Logistics expert Dennis Uy joined the list with an estimated net worth of $660 million. He began ascending to financial power when he founded Phoenix Petroleum in 2002 and grew it into the Philippines’ largest independent fuel retailer. His entire group rose 28% in 2018 and now he’s waiting for the approval to enter Udema in the Philippine Stock Exchange.

Delfin Wenceslao also made his debut on the rich list after taking real estate developer, D.M. Wenceslao & Associates, public in 2018. His net worth is approximately $500 million.

The full list of Philippines Richest 2019 can be found on Forbes, however, directly below you can see the top 15 as it currently stands:

1)  Sy siblings: US$17.2 billion

2)  Manuel Villar: $6.6 billion

3)  John Gokongwei, Jr.: $5.3 billion

4)  Enrique Razon, Jr.: $5.1 billion

5)  Jaime Zobel de Ayala: $3.7 billion

6)  Lucio Tan: $3.6 billion

7)  Tony Tan Caktiong: $3 billion

8)  Ramon Ang: $2.8 billion

9)  Ty siblings: $2.6 billion

10)  Andrew Tan: $2.55 billion

11) Inigo and Mercedes Zobel: $2.5 billion

12) Mercedes Gotianun: $2.2 billion

13) Consunji Siblings: $2 billion

14) Lucio and Susan Co: $1.8 billion

15) Roberto Ongpin: $1.77 billion


Image Source by Triplow

Christopher Zenios

Christopher has always been a pioneer, a first adopter when it comes to technological advancements. Over the years, his expertise surrounded the real estate and digital markets and their evolution in today's society. After being the editor to various professional business news portals and blogs, he was selected to become the chief editor for HWC. Contact Christopher at +357-22029786 ext: 6110 or by email at [email protected] for editorial related questions.

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