Business and Economy
Forbes names Manny Villar as PH’s richest man
In its 2019 list of richest people in the world, Villar, who used to help his mother in selling seafood at the Divisoria market, obtained a net worth of $5.5-billion, which increased from last year’s $5-billion. (File photo: Manny Villar/Facebook)
Forbes Magazine on Tuesday, March 5, revealed that real estate tycoon Manuel “Manny” Villar is now the wealthiest man in the Pearl of the Orient Seas.
In its 2019 list of richest people in the world, Villar, who used to help his mother in selling seafood at the Divisoria market, obtained a net worth of $5.5-billion, which increased from last year’s $5-billion. He landed on the 317th spot worldwide.
The 69-year-old businessman is the chairman of mall operator Starmalls and homebuilder company Vista Land & Lifescapes, Inc.
Villar succeeded Henry Sy, Sr., the founder of the SM group who died last January 19.
[READ: SM Group founder Henry Sy Sr. dies at 94]
JG Summit Group’s John Gokongwei, meanwhile, ranked second as the country’s richest, with a net worth of $5.1-billion.
He was followed by Enrique Razon, Jr., who chairs the International Container Terminal Services (ICTSI), having a net worth of $4.8-billion.
LT Group’s Lucio Tan took over the fourth place with $4.4-billion net worth.
The founder and chairman of Jollibee Foods Corporation Tony Tan Caktiong and his family completed the top five, earning a net worth of $3.9-billion.
Other tycoons from the Philippines included in the Forbes’ list are as follows: Ramon Ang with $2.9-billion; Andrew Tan with $2.7-billion; Hans Sy and Herbert Sy with $2.4-billion; Harley Sy, Henry Sy, Jr., and Teresita Sy-Coson with $2.2-billion; Elizabeth Sy with $1.9-billion; Eduardo Cojuangco and Robert Coyiuto, Jr. with $1.4 billion); Ricardo Po, Sr. and family with $1.2 billion; and Roberto Ongpin with $1.1 billion.
Amazon’s Jeff Bezos, meanwhile, remains to be the wealthiest person in the planet with a net worth of $131-billion. He was followed by Microsoft founder Bill Gates who has a net worth of $96.5-billion and Berkshire Hathaway’s Warren Buffet with $82.5-billion.
On the other hand, makeup mogul Kylie Jenner is named as the “youngest self-made billionaire ever” who earned a net worth of $1-billion at the age of 21. Forbes said Kylie reached a ten-figure fortune “at a younger age than even Mark Zuckerberg (who was 23 when he hit that mark).”
