Henry Sy tops PH billionaires in 2018 — Forbes

Henry Sy tops PH billionaires in 2018 — Forbes

By CNN Philippines Staff

Updated 17:45 PM PHT Wed, March 7, 2018

Metro Manila (CNN Philippines, March 7) — Retail magnate Henry Sy is still the richest person in the country with a net worth of $20 billion or P1.04 trillion, according to business magazine Forbes.

This is the 11th year in a row Sy topped the list of the richest people in the Philippines. His net worth is almost double compared to last year, which was at $12.7 billion or P 660.26 billion.

The self-made business tycoon also ranked the 52nd richest worldwide for 2018. He is also one of the oldest billionaires in the world at 93 years old.

Sy is the chairman emeritus of the country's largest retailer, SM Investments Corporation. His company has stakes in the retail, banking, and property sectors.

Next to Sy is John Gokongwei, Jr., with a net worth of $5.8 B or P 301.54 billion.

The 91-year-old Gokongwei Jr. of conglomerate JG Summit has interests in airline, banking, food, hotels, power, chemicals, real estate, and telecommunications.

Gokongwei ranked the 305th richest worldwide.

Port magnate Enrique Razon, Jr. ranked third in the country, with a net worth of $4.9 B or P 254.75 billion. He is 404th richest worldwide.

Meanwhile, 54-year-old Jeff Bezos of U.S.-based electronic commerce company Amazon topped the list of the world's richest, with a net worth of $112 billion or P5.8 trillion.

Next is Microsoft's Bill Gates with $90 billion or P 4.68 trillion net worth.

The oldest billionaire is Singapore's Chang Yun Chung at 99, with a net worth of $1.9 billion or P 98.85 billion.

Interestingly, the youngest billionaires are siblings from Norway, Katharina and Alexandra Andresen, aged 22 and 21. Each has a net worth of $1.4 billion, which they inherited from family-owned investment company Ferd.

Forbes listed 2,208 billionaires worldwide, collectively worth $9.1 trillion or P 473.2 trillion.

http://cnnphilippines.com/business/2018/03/07/Henry-Sy-tops-PH-billionaires-in-2018-Forbes-Jeff-Bezos.html