Tycoons and Businesses: Forbes’ List Top 20 Richest People in the Philippines

Tycoons and Businesses: Forbes’ List Top 20 Richest People in the Philippines

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2. John Gokongwei, Jr.

iMoney
iMoney

A net worth of $5.5B has made the one and only JG as the second richest man in the Philippines today. His JG Summit is actually one of the largest conglomerates in the Philippines with interests in air transportation, banking, food, HOTELS, power, chemicals, real estate, and telecommunications. He also owns a stake in publicly listed Robinson Retail Holdings and franchises for True Value, Topshop, Toys R Us, Daiso. His retailers have more than 1,500 outlets. Since he is of an old age now, JG has divided fairly the different executive positions among his sons, daughters and immediate family members. This he said is to keep the business growing. At 90, he is still the same humble man who started his business with a cornstarch plant in 1957.

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1. Henry Sy and Family

Philippine News
Philippine News

The one and only retailing business magnate, Henry Sy is still the richest man in the country with a net worth of $12.3B. He has undergone different trials in life that made him the man he is today. At 92, he has fully accomplished a lot things. His family-owned SM Investments is the largest retailer in the Philippines, with stakes in banking, property and retail; and this business has recently merged with the Singaporean e-commerce company, LAZADA. He has his humble beginning and has remained humble until now. He has made possible the institution of SM Foundation, the corporate social responsibility arm of SM Prime Holdings. This said foundation is focused on health, education, community development, and care for the environment and for persons with special needs.

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