Sy family still richest in PH

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SM Investments vice chair Teresita Sy-Coson (second from left) and Henry Sy Jr. (third from left)

The coronavirus (COVID19) pandemic may have made them a few billions poorer than last year but in this part of the world, they are still the wealthiest.

The heirs of the late SM founder Henry Sy Sr. remain as the richest in the Philippines with a collective net worth estimated at $13.9 billion, based on the 2020 Forbes Philippines Rich List.

Their fortune declined $3.3 billion this year amid the COVID19 pandemic that has battered the SM group’s property, retailing and banking businesses.

The tycoons on the 2020 Forbes Philippines Rich List saw their collective wealth fall by 22 percent to $60.6 billion due to disruptions from COVID19.

The top 10 richest in the Philippines are:
1) Sy siblings; $13.9 billion
2) Manuel Villar; $5 billion
3) Enrique Razon Jr.; $4.3 billion
4) Lance Gokongwei & siblings; $4.1 billion
5) Jaime Zobel de Ayala; $3.6 billion
6) Andrew Tan; $2.3 billion
7) Lucio Tan; $2.2 billion
8) Ramon Ang; $2 billion
9) Tony Tan Caktiong; $1.9 billion
10) Lucio & Susan Co; $1.7 billion


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