Business man Manny Villar has officially replaced the late Henry Sy Sr. as the richest man in the Philippines. This is according to the list released by Forbes Magazine.
Mr. Villar increased his net worth from $5 billion to $5.5 billion. And on the list of Forbes’ world’s billionaires, Villar placed 317th.
Sy, held the top spot in Forbes’ list of the Philippines’ billionares for 11 years in a row.
Mr. Villar is the chairman of mall operator Starmalls as well as Vista & Landscapes which is dubbed as the country’s largest homebuilder.
On that same list, JG Summit founder, John Gokongwei followed Villar with a net worth of $5.1 billion and he ranked 343rd in the world.
He is then followed by Enrique Razon, Jr., who owns the Solaire Casino Resort and he has a net worth of $4.8 billion.
Here is the list of the country’s billionares – according to Forbes:
#1 Manny Villar ($5.5 billion)
#2 John Gokongwei Jr ($5.1 billion)
#3 Enrique Razon Jr. ($4.8 billion)
#4 Lucio Tan ($4.4 billion)
#5 Tony Tan Caktiong and family ($3.9 billion)
#6 Ramon Ang ($2.9 billion)
#7 Andrew Tan ($.27 billion)
#8 Hans Sy and Herbert Sy ($2.4 billion)
#9 Harley Sy, Henry Sy, Jr., and Teresita Sy-Coson ($2.2 billion)
#10 Elizabeth Sy ($1.9 billion)
#11 Eduardo Cojuangco and Robert Coyiuto, Jr. ($1.4 billion)
#12 Ricardo Po Sr. and family ($1.2 billion)
#13 Roberto Ongpin ($1.1 billion)
Amazon’s Jeff Bezos takes the world’s top billionaire stop with his networth of $131 billion. Bill & Melinda Gates Foundation Chair Bill Gates follows and takes on the second spot with a net worth of $96.5 billion.
Warren Buffet is on third spot who runs Berkshire Hathaway which owns more than 60 companies.
Those are really big names – included on that list – and they surely did work hard for it.
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