Former senator Villar remains richest in PH – Forbes

Former senator Manny Villar remains the richest in the Philippines with a net worth of $11 billion, according to Forbes magazine.

The 74-year-old former legislator is listed by the magazine in 190th place as chairman of property developer Vista Land & Lifescapes run by his son, Manuel Paolo. The company listed VistaREIT, a real estate investment trust, in June 2022 with an initial portfolio of 10 shopping malls and two office towers.

Villar's biggest asset, says Forbes, is his stake in Golden MV Holdings (formerly Golden Bria), a developer of mass housing projects and memorial parks and has four other listed entities including mall operator Vistamalls, home improvement chain AllHome, supermarket chain AllDay Marts and Premiere Island Power REIT.

"Villar is diversifying his business with new investments in free-to-air TV and plans to build a casino and a theme park in southern Metro Manila," the magazine said.

His wife Cynthia and son Mark are senators while his daughter Camille is a congresswoman representing Las Piñas.

Businessman Enrique Razon is in second place with net worth of $10 billion is the chairman of the ports operator, International Container Terminal Services (ICTSI).

"Razon's grandfather started the business with a port in Manila in 1916, which his father rebuilt after WWII. Razon grew the business globally," Forbes said, listing Razon in 224th place.

"The crown jewel of his hospitality firm Bloomberry Resorts is the Solaire Resort and Casino in the Philippines."

The president and vice chairman of San Miguel, Ramon Ang has a $3.5 billion net worth is placed 920th by Forbes.

The youngest in the list is 56-year-old Lance Gokongwei (No. 2545), with a net worth of $1.1 billion while the oldest is Lucio Tan (No. 2410), 89 years old, with a net worth $2.5 billion.

The rest of the tycoons in the list are:

Hans Sy (No. 1286) — $2.6 billion

Henry Sy, Jr. (No. 1330) — $2.5 billion

Herbert Sy (No. 1330) — $2.5 billion

Harley Sy  (No. 1380) — $2.4 billion

Teresita Sy-Coson (No. 1438) — $2.3 billion

Elizabeth Sy (No. 1545) — $2.1 billion

Andrew Tan (No. 1623) — $2 billion

Tony Tan Caktiong (No. 2152) — $1.4 billion

Lucio Co (No. 2410) — $1.2 billion

Susan Co (No. 2545) — $1.1 billion

Forbes magazine says in its report that "There are now more billionaires than ever: 2,781 in all, 141 more than last year and 26 more than the record set in 2021." — BAP, GMA Integrated News