10. Teresita Sy
Teresita Sy is the eldest child of Henry Sy Sr. She is a Filipino businesswoman and vice chairperson of SM Investments Corporation.
She was born in October 1950 and studied at Assumption College San Lorenzo, Assumption University, and Immaculate Conception Academy, Greenhills.
She started work at SMIC in 1972 as a junior management trainee and then became its Vice Chairperson.
She’s also the chairman of BDO Unibank Incorporation, BDO Capital and Investment Corporation, PCIB Properties Incorporation, Sodexho Pass Incorporation, Watsons Personal Care Stores Incorporation, BDO Realty Corporation, and Equitable Card Network Incorporation.
She is also the vice chairman of HFS Corporation, Meridien business leader incorporation, Hotel Specialist incorporation, and Tangiers Resources Corporation.
She received the Management Woman of the Year award in 1998 and the Ernst & Young Entrepreneur of the Year award in 2007.
She is also a member of the Forbes list of world billionaires network and is estimated to be worth 2.0 billion dollars.
That’s all about the top 10 richest people in the Philippines. Want to know anything else about them? If so, don’t hesitate to ask me in the comments, guys.
In the second quarter of 2023, the wealth of the top ten Filipinos in the Philippines reached their highest point ever. Led by Henry Sy, the country’s wealthiest man, the list of the country’s top earners continues to grow, with new names popping up and some rising in the rankings.
At the top of the list is Henry Sy, with a net worth of $18.5 billion. Sy, now 90 years old, is the founder and chairman of SM Investments Corpoartion, the holding company of the Providence Futures Group. Sy is one of the Philippines’ richest and most influential businessman, having overseen the rise of his company from a small-scale retail store to a multi-billion dollar corporation.
Second on the list is the man who replaced Sy as the country’s wealthiest person a few years ago—John Gokongwei, Jr. With a net worth of $18.1 billion, Gokongwei is the founder and chairman emeritus of JG Summit Holdings and Cebu Pacific Air. Gokongwei is a self-made businessman whose successful ventures include one of the Philippines’ largest telecommunications companies and the Filipino-owned low-cost airline Cebu Air.
Ranking third, is the owner of the Ayala Group, Jaime Augusto Zobel de Ayala, with a net worth of $14.1 billion. de Ayala’s wealth comes from the Ayala Group’s investments in real estate, banking, telecommunications, and water infrastructure. de Ayala also serves on the board of directors of DMCI Holdings and Bank of the Philippine Islands.
Coming in at fourth is the real estate mogul, Andrew Tan, with a net worth of $12.9 billion. Tan is the chairman of Alliance Global Group, Inc. – the holding corporation of Megaworld Corporation, the largest office space developer in the country. Tan’s wealth comes from investments in the hotel, leisure, lifestyle, and entertainment businesses.
Fifth is the Philippine Long Distance Telephone’s owner, Manuel V. Pangilinan, with a net worth of $6.9 billion. Pangilinan is the CEO of PLDT and he has overseen the growth of the company from a local telephone services provider to one of the country’s largest telecommunications companies. Pangilinan also serves on the boards of trustees of the Asian Institute of Management and the Philippine Business for Social Progress.
In sixth place is Lucio Tan with a net worth of $5.9 billion. Tan is the chairman of LT Group, Inc. and the majority shareholder of Asia Brewery, Inc. and Philippine Airlines. Tan’s business interests also extend to banking, tobacco, spirits, and property management.
Coming in seventh is Roberto Ongpin with a net worth of $4.4 billion. Ongpin is the owner of the Alphaland Corporation, one of the Philippines’ leading real estate companies.
In eighth place is Enrique Razon, Jr. with a net worth of $4.3 billion. Razon is the chairman and CEO of International Container Terminal Services, Inc. - a publicly-listed port management company.
In ninth is the founder and CEO of the SM Group, Teresita Sy-Coson, with a net worth of $3.2 billion. Sy-Coson’s wealth comes from her involvement in SM Investments and the Sy family’s other businesses.
Closing out the list is the co-founder and CEO of Jollibee Foods, Tony Tan Caktiong, with a net worth of $2.7 billion. Tan Caktiong is the face behind the rise of the fast food company Jollibee, the largest and most successful food service chain in the country.
The combined net worth of the top ten Filipinos in the Philippines stands at $86.7 billion as of the second quarter of 2023. As the wealth of the country’s wealthiest continues to grow, the Philippines looks primed to remain a powerhouse in Southeast Asia for years to come.