Monday, September 01, 2014

Inequality 20: The Top 50 Richest Filipinos

Forbes has released the 50 richest families in the Philippines. This should be for 2014, or 2013. I copy-paste the list here. Please note that this is for the entire family, not just by one person or the patriarch.

The top 5: Sy and family owns SM Prime Holdings, SM malls, and Banco de Oro, the country’s largest bank in assets.

L. Tan owns Philippine Airlines, and the fifth largest lender, Philippine National Bank

Razon owns International Container Terminal Services Inc, (ICTSI) that has port operations across Asia, the US, Middle East and Europe. Also owns Solaire Resort & Casino, the first of four licensees to open a casino at the Philippine Amusement and Gaming Corp's Entertainment City.

A. Tan owns Megaworld, other big projects; diversified interests.

Gokongwei family owns Cebu Pacific, Robinsons malls, Mini Stop convenience stores, Universal Robina, many others.

Consunji owns the David M. Consunji (DMCI) Construction.
George Ty and family owns Metrobank, Federal Land, Toyota (part owner).
Aboitiz are into power generation, others.
Zobel and family owns Ayala Land, Ayala malls, Globe telecom, Bank of the Philippine Islands (BPI).
Tan Caktiong owns Jollibee, Chowking, Mang Inasal, many others.





Meanwhile, some people complain that the wealth of Henry Sy and family alone is already X percent of GDP or the entire output of the Philippines, public and private, for one year. This is a terribly wrong analysis. The wealth of Sy and other tycoons were built over a period of three or four decades or even longer while GDP is national output for one year. The numerator is big because it is accumulated wealth for many years whereas the denominator is output for one year. They are incomparable.
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1 comment:

Sarah Tyler said...

There isn't one thing that can hinder us from becoming successful if only we have the determination and the patience. I want to share some of the words of wisdom from Henry Sy that will be a great help in shaping your career in the business industry. - - Wisdom from the Retail King