Real estate tycoon Manny Villar drops to third from second, trading places with ports magnate Enrique Razon

MANILA, Philippines – The Sy siblings – heirs to one of the biggest conglomerates in the country – are still the Philippines’ richest in 2024, according to Forbes Asia.

Their combined net worth inched down this year to $13 billion from $14.4 billion in 2023 because of the weaker peso, which Forbes Asia said affected many of the country’s wealthiest.

“While the country’s benchmark stock market index gained 2% since fortunes were last measured, the peso fell 6%. As a result, more than half of the country’s 50 richest are less wealthy this year,” Forbes Asia said in a statement on Thursday, August 8.

Here’s a list of the Philippines’ top 10 richest in 2024:

1. Sy siblings, $13 billion
2. Enrique Razon, $11.1 billion
3. Manuel Villar, $10.9 billion
4. Ramon Ang, $3.8 billion
5. Isidro Consunji and siblings, $3.4 billion
6. Tony Tan Caktiong, $2.9 billion
7. Lucio Tan, $2.65 billion
8. Jaime Zobel de Ayala, $2.6 billion
9. Lucio & Susan Co, $2.3 billion
10. Aboitiz Family, $2.2 billion

The country’s top 50 Richest have a combined wealth of $80.8 billion, almost flat from $80.4 billion in 2023. – Rappler.com