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Author Topic: Richest Pinoys' wealth: P2.8 trillion, more than a fourth of GDP  (Read 2354 times)

Michiana2007

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MANILA, Philippines - The combined wealth of the 50 richest Filipinos and their families is a whopping $65.8 billion or about P2.8 trillion as of July 2013, according to Forbes' list of billionaires in the Philippines.

Topping the list of 50 richest Filipinos is 88-year-old shopping mall mogul Henry Sy, whose net worth is currently pegged at $12 billion or P521 billion.

"The Philippines' richest person Henry Sy saw his fortune swell by $2.9 billion, boosted by the surge in shares of his SM Investments, the country's most valuable company, which reported record profits of over $570 million in 2012," Sy's profile read on Forbes website.

The second richest is Lucio Tan and his family with a net worth of P325 billion. He is followed on the list by Andrew Tan (P199.7 billion), Enrique Razon (P195.3 billion), and John Gonkongwei Jr. (P147.6 billion).

Jaime Zobel de Ayala and his family are ranked as sixth richest with a net worth of P134.6 billion.

The Aboitiz family that controls Cebu-based conglomerate Aboitiz Equity Ventures ranked seventh with a net worth of P130.2 billion.
Business ( Article MRec ), pagematch: 1, sectionmatch: 1

The country's "father of construction," David Consunji, is the eight richest with a net worth of P117.2 billion.

Former senator Manny Villar has also joined the billionaire ranks for the first time after doubling his stake in listed home builder Starmalls. His net worth is currently pegged at P45.5 billion. He is the 16th richest Filipino.

President Benigno Aquino III's uncle, Eduardo Cojuangco, is the 20th richest in the country. As the chairman of San Miguel Corp., he has a net worth of P35.8 billion.

Billionaires involved in the media industry are also among the country's richest: Manila Bulletin's Emilio Yap, ABS-CBN's Oscar Lopez, and GMA 7's Gilberto Duavit and Felipe Gozon.

The last man on the list, Manny Pangilinan, has a net worth of P4.5 billion. According to Forbes, MVP is the chief executive of Hong Kong-listed First Pacific, which owns big companies such  like Philippine Long Distance Telephone, TV 5 and Meralco in the Philippines and Indonesian instant noodles maker Indofood.

An article by Naazneen Karmali posted on the Forbes website said the 50 richest Filipinos are worth a combined $65.8 billion or about P2.8 trillion, more than a quarter of the Philippines' gross domestic product.

By Louis Bacani (philstar.com) | Updated August 1, 2013

gkhan

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Re: Richest Pinoys' wealth: P2.8 trillion, more than a fourth of GDP
« Reply #1 on: August 01, 2013, 11:11:00 am »
Do the bankers from the top 25 Western European banks really believe that?  Mr. Andy controls more than the combined "wealth" of those Filipinos.

john

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Re: Richest Pinoys' wealth: P2.8 trillion, more than a fourth of GDP
« Reply #2 on: August 01, 2013, 11:52:04 am »
That is olygarchy. Result of EDSA 1

Type_One

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Re: Richest Pinoys' wealth: P2.8 trillion, more than a fourth of GDP
« Reply #3 on: August 01, 2013, 08:13:06 pm »
MVP, i heard, is just being backed up by a big indonesian firm or businessman. That's why he was able to boost up that quick. Hey but i gotta give it up to these guys, we should be looking up to them in terms of success. They're no different than us when they were younger.
My brother said that Mr. JG still sweeps the floor sometimes at that office by Rob Galleria...

Point is, their success should be our inspiration to thrive better, rather than envy. Not saying that we should greed to be hell as rich as them. But just to serve as example.
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metal1369

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Re: Richest Pinoys' wealth: P2.8 trillion, more than a fourth of GDP
« Reply #4 on: August 01, 2013, 08:36:10 pm »
henry sy used to rent stalls to sell shoes... nakita nya siguro mas malaki kita kung sya un magpaparent kaya ayan... kahit saan ka magpunta may shoemart.

BlueAlphaZero

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Re: Richest Pinoys' wealth: P2.8 trillion, more than a fourth of GDP
« Reply #5 on: August 02, 2013, 03:40:16 pm »
MVP, i heard, is just being backed up by a big indonesian firm or businessman. That's why he was able to boost up that quick. Hey but i gotta give it up to these guys, we should be looking up to them in terms of success. They're no different than us when they were younger.
My brother said that Mr. JG still sweeps the floor sometimes at that office by Rob Galleria...

Point is, their success should be our inspiration to thrive better, rather than envy. Not saying that we should greed to be hell as rich as them. But just to serve as example.

That is true, Seigneur TypeOne. John Gokongwei's a rather personable individual. He's never let his money get to his head. His daughter Robina takes after him in that regard.

Do the bankers from the top 25 Western European banks really believe that?  Mr. Andy controls more than the combined "wealth" of those Filipinos.

Der Fuhrer owns upwards of ninety-five percent of the wealth that "Mr. Andy" supposedly controls and he's going to take back what rightfully belongs to Das Reich before anyone knows it.
Custodite fideliter quod quae credita est fideliter ad vos.

Type_One

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Re: Richest Pinoys' wealth: P2.8 trillion, more than a fourth of GDP
« Reply #6 on: August 04, 2013, 06:57:58 pm »
That is true, Seigneur TypeOne. John Gokongwei's a rather personable individual. He's never let his money get to his head. His daughter Robina takes after him in that regard.


miss Robina seems to be just the housewife type. It's Mr. Lance that took over. It pays to be the only boy. Have you read his graduation speeches in Ateneo? Very moving...
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