Top 40 Richest People in the Philippines Year 2011

Forbes updates their recent list of the top 40 richest Filipinos for the year 2011. Philippine economy grew only 4.9 percent in the 1st quarter of this year partly due to a decrease in trade and lower infrastructure spending by the government, of from 8.4 percent in 2010, but the country's stock market is booming. Composite stock index is up 27 percent since last year, surpassing the 2007 benchmark. This raised the fate of the richest in the country to an all time high. They are collectively worth 34 billion dollars, up from last year's 22.8 billion dollars. Richest Men in the Philippines photo 32 wealthy business tycoons become richer in the Philippines. For the 4th consecutive year Henry Sy remains the richest man in the Philippines with a net worth of 7.2 billion dollars, up from 5 billion dollars year ago. The highest top notcher in percentage terms is a former trade minister Roberto Ongpin, whose wealth jumped more than 4 fold to 1.3 billion dollars. Much of that gain was due to an increase in his stocks in listed Atok-Big Wedge mining, although Ongpin said the company's stock price overinflates value. The overall number of billionaires in the Philippines has more than doubled this year to 11-a record haul. Among the newly minted millionaires is the port operator Enrique Razon Jr., who saw his net worth jumped to $ 1.6 billion from $ 975 million last year. Just two of luck to decline this year, either because better understand their assets and not because their companies perform poorly. Among the four newcomers Jose Antonio, founder of high-end property developer Century Properties; Jacinto Ng Sr., founder of the biscuit maker Rebisco; 34-year-Edgar Sia II, the youngest on the list, and Tony Tan of Caktiong who sells his fast-growing food chain, Jollibee,. Minimum of 85 million dollars needed to make the list this year, up from last year's 50 million dollars Four of the 2010 did not make the cut, including Lourdes Montinola, whose family owns 41% of Far Eastern University, and Jesus Tambunting, which controls the Planters Development Bank. The advantage they could not match the performance of others on the list of stars. Top 40 Richest People in the Philippines Year 2011 Rank Name Net Worth (in million $) Net Worth in (billion pesos) given 43.62Php/dollar Age 1. Henry Sy 7,200 314 (billion pesos) round off to billion 86 2. Lucio Tan 2,800 122 77 3. John Gokongwei Jr. 2,400 104 83 4. Andrew Tan 2,000 87 58 5. David Consunji 1,900 82 90 6. Jaime Zobel de Ayala 1,700 74 77 7. Enrique Razon Jr. 1,600 70 51 8. Eduardo Cojuangco Jr. 1,400 61 76 9. Roberto Ongpin 1,300 57 74 10. George Ty 1,100 48 78 11. Tony Tan Caktiong 1,000 44 58 12. Inigo & Mercedes Zobel 980 43 NA 13. Emilio Yap 930 40 85 14. Andrew Gotianun 795 35 83 15. Jon Ramon Aboitiz 760 33 62 16. Beatrice Campos 685     30 NA 17. Manuel Villar 620 27 61 18. Vivian Que Azcona 555 24 NA 19. Robert Coyiuto Jr. 400     17 58 20. Mariano Tan 375 16 NA 21. Alfonso Yuchengco 370 16 88 22. Enrique Aboitiz 310 13 89 23. Oscar Lopez 280 12 81 24. Jose Antonio 245 11 64 25. Eric Recto 200 9 48 26. Gilberto Duavit 190 8 76 27. Menardo Jimenez 185 8 79 28. Alfredo Ramos 180 8 67 29. Betty Ang 165 7 NA 30. Felipe Gozon 163 7 71 31. Tomas Alcantara 160 7 65 32. Benjamin Romualdez 155 7 81 33. Wilfred Uytengsu Jr. 150 6 49 34. Manuel Zamora Jr. 145 6 71 35. Jacinto Ng Sr. 115 5 NA 36. Frederick Dy 110 5 56 37. Luis Virata 100 4 57 38 Bienvenido Tantoco Sr. 95 4 90 39. Eugenio Lopez III 90 4 59 40. Edgar Sia II 85 4 34              List of the Top 10 Richest Men in the Philippines 1. Henry Sy Henry Sy picture Net worth: 7.2 billion dollars Source: Diversified investments Age: 86 Marital Status: Married Chidren: 6 The unbeatable richest man in the Philippines, Henry Sty started with a small shoe store in Manila, Philippines which became the Philippines biggest retail group. SM Prime, the Philippines' largest shopping mall developer, is managed by the son Hans, planning to list China operations. Shares in SM Investments, the largest family asset, almost 40 percent. Banco de Oro Unibank, the country's largest bank, run by daughter Teresita Sy-Coson. Listed property developer Belle Corp., is expected to open the first casino in Manila in 2012. Henry Sy remains the richest man in the Philippines for 4 consecutive years. wow! 2. Lucio Tan Lucio Tan picture Net worth: 2.8 billion dollars Source: Diversified investments Age: 77 Marital Status: Married Chidren: 6 Biggest asset, based in Hong Kong, the Eton Properties, enjoying a huge boost in property values. Owns shares in PAL Holdings, which controls the flagship carrier Philippine Airlines. Fortune Tobacco, the largest tobacco company in the Philippines, fighting in court the Department of Health in order to put graphic warnings on cigarette packs about the dangers of smoking to health. 3. John Gokongwei Jr. John Gokongwei Jr. picture Net worth: 2.4 billion dollars Source: Diversified investments Age: 83 Marital Status: Married Chidren: 6 He founded the JG Summit conglomerate, has businesses in airlines, telecommunications, real estate, banking, hotels and power plants. Affordable airline carrier Cebu Air Group registered last October, increased 623 million dollars. Brother James Go seats JG Summit, son Lance is the president. 4. Andrew Tan Andrew Tan picture Net worth: 2 billion dollars Source: Diversified investments Age: 58 Marital Status: Married Chidren: 4 Son of factory worker, his holding company, Global Alliance, invests in food and beverage, real estate, gaming. New power plants FDC Utilities venture plans to raise funds for renewable energy projects. Wife Katherine treasurer and sits on the board. 5. David Consunji David Consunji picture Net worth: 1.9 billion dollars Source: construction Age: 90 Marital Status: Married Chidren: 8 A big leap for a former inspector who founded the concrete construction company in 1954 and later expanded into infrastructure, real estate, mining and power. He moved into the top 5 as its DMCI Holdings shares doubled in the past year. Semirara Mining value nearly tripled. Son Isidro of DMCI Holdings president Isidro is'. The children share the fortune. 6. Jaime Zobel de Ayala Jaime Zobel de Ayala Net worth: 1.7 billion dollars Source: diversified investments Age: 77 Marital Status: Married Chidren: 7 Chairman emeritus of Ayala Corporation, the largest conglomerate by market capitalization. Investments including real estate, hotels, financial services, telecommunications, utilities. Plans to invest 1.8 billion dollars in power generation, infrastructure. His 7 children owned shares. Jaime II, the oldest, is chairman; Ferdinando is the vice chairman. 7. Enrique Razon Jr. Enrique Razon picture Net worth: 1.6 billion dollars Source: ports Age: 51 Marital Status: Married Chidren: 2 Port operator who control the listed International Container Terminal Services. He is the Philippine's youngest billionaire. 8. Eduardo Cojuangco Jr. Eduardo Cojuangco Jr. picture Net worth: 1.4 billion dollars Source: food and drinks Age: 76 Marital Status: Married Chidren: 4 Controls San Miguel Corporation, food and beverage conglomerate with investments in power. Last year the a group investors bought his option for an undisclosed sum. Company's stock price, which completed the secondary offering 370 million dollars of May, nearly doubled since. Former Marcos cronies; state Supreme Court recently decided that its stake in San Miguel, the Presidential Commission on Good Governance has alleged he was due to its relationship with the former dictator, wasn't ill-gotten 9. Roberto Ongpin Roberto Ongpin photo Net worth: 1.3 billion dollars Source: diversified investments Age: 74 Marital Status: Married Chidren: 4 Former trade minister who studied at Harvard Business School, has investments in property, mining, telecommunications. Top frontier, the investment company he has held in, have bought stakes in San Miguel. He also raised its stake in mining company Atok-Big Wedge, reaping huge profits. Ongpin said his net worth of no more than 500 million dollars, based on his debt and stock prices Atok-Big Wedge overstating the value of the company. 10. George Ty George Ty photo Net worth: 1.1 billion dollars Source: diversified investments Age: 78 Marital Status: Married Chidren: 5 His Metrobank, the Philippines second-largest lender, it posted record profits of 195 million dollars in 2010. Self-starter who founded the bank in his 20s, resigned as chairman in 2006 in support of Arthur's son. Group's power unit began operating coal power plant in April. Real estate arm of the Federal Land plans to build a 300 million dollar hotel in Manila.