Despite European woes, the Philippines’ remittance-driven economy outperformed most of its neighbors; it grew 6.4% in the last quarter, driven by an ongoing consumer boom and a surge in tourism and outsourcing. The stock market index gained 17% in the past year. The 40 richest on this nation of islands saw their fortunes rise even faster. Their collective wealth grew over $13 billion to $47.4 billion. There are now 15 billionaires, up from 11 a year ago.
Here is the complete list of Philippines Most richest Businessman for the month of June 2012 according to Forbes Magazine.
1. Henry Sy & family – $9.1 billion (SM Investments Corp., SM Prime)
2. Lucio Tan & family – $4.5 billion (Philip Morris Fortune Tobacco, Asia Brewery)
3. Enrique Razon, Jr. – $3.6 billion (International Container Terminal Services)
4. John Gokongwei, Jr. & family -$3.2 billion (JG Summit, Cebu Air, Robinsons Land)
5. David Consunji & family – $2.7 billion (D.M.Consunji, Inc. or DMCI)
6. Andrew Tan – $2.3 billion (Alliance Global)
7. Jaime Zobel de Ayala & family – $2.2 billion (Ayala Corp.)
8. George Ty & family – $1.7 billion (Metropolitan Bank)
9. Roberto Ongpin – $1.5billion (Atok-Big Wedge, San Miguel)
10. Eduardo Cojuangco -$1.4 billion (San Miguel)
11. Robert Coyiuto, Jr. -$1.3 billion (National Grid)
12. Tony Tan Caktiong & family – $1.25 billion (Jollibee Foods)
13. Lucio and Susan Co -$1.2 billion (Puregold Price Club)
14. Inigo & Mercedes Zobel – $1.15 billion (Ayala Corp.)
15. Emilio Yap – $1.1 billion (Philtrust Bank)
16. Jon Ramon Aboitiz & family – $955 million (Aboitiz Equity Ventures)
17. Andrew Gotianun & family -$825 million (Filinvest Development)
18. Manuel Villar – $720 million (Vista Land & Lifescapes, Polar Property Holdings)
19. Beatrice Campos & family – $700 million (Unilab)
20. Vivian Que Azcona & family – $690 million (Mercury Drug)
21. Alfonso Yuchengco & family – $570 million (Rizal Commercial Bank)
22. Mariano Tan, Jr. – $420 million (Unilab)
23. Enrique Aboitiz & family – $400 million (Aboitiz & Co.)
24. Eric Recto – $365 million (Atok-Big Wedge, Alphaland)
25. Jose Antonio – $300 million (Century Properties Group)
26. Gilberto Duavit & family – $270 million (GMA Network)
27. Menardo Jimenez -$265 million (GMA Network)
28. Frederick Dy – $260 million (Security Bank)
29. Manuel Zamora -$255 million (Nickel Asia)
30. Alfredo Ramos & family -$250 million (Atlas Consolidated Mining & Development)
31. Oscar Lopez & family – $245 million (Lopez Holdings, ABS-CBN)
32. Felipe Gozon & family – $240 million (GMA Network)
33. Betty Ang – $235 million (Monde Nissin)
34. Wilfred Steven Uytengsu, Jr. & family – $230 million (Alaska Milk)
35. Juliette Romualdez – $200 million (Banco de Oro, Benguet Mining)
36. Bienvenido Tantoco, Sr. & family – $195 million (Rustan Commercial)
37. Jacinto Ng – $190 million (Rebisco)
38. Tomas Alcantara & family – $160 million (Alsons Consolidated Resources)
39. Michael Cosiquien – $150 million (Megawide Construction)
40. Edgar Sia – $140 million (Mang Inasal)