“Shopping Mall King” Henry Sy, Sr. of SM and BDO, industrialist John L. Gokongwei, Jr. of JG Summit Holdings & Cebu Pacific Air and the Hispanic Basque Aboitiz family of power plants and Union Bank are the three wealthiest billionaires in the Philippines, according to the latest August 2016 list of “Forbes” magazine.
I personally know and admire these three business leaders of the Philippines who exemplify exceptional humility, old-fashioned work ethic, positive thinking, long-range vision, frugality, resourcefulness and progressive capitalism, although the three of them come from different backgrounds and circumstances.
Henry Sy, Sr. is an immigrant “rags-to-riches” entrepreneur, John L. Gokongwei, Jr. is a fourth-generation scion of a wealthy business family who was a youth when his father died and he had to lead a “riches-to-rags-to-riches” saga, while Jon Ramon Aboitiz is from an old rich Hispanic and Basque business clan of Cebu. Both Sy and Gokongwei were born in Fujian province, south China.
Congratulations to these ultimate topnotchers in this prestigious roster of business pacesetters and visionaries helping sustain Philippine socio-economic development! I believe they are ideal role models not only for entrepreneurs, but also for professionals and all other people who want to achieve success in life.
Those of us who are still not yet on this list by “Forbes” magazine (this is only a partial list and I shall soon share my comments on the quality and veracity of other names in this roster on another blog post), let us not complain or be envious. Let us work harder and pursue our dreams. Do not forget, the Philippines’ two richest persons Henry Sy, Sr. and John Gokongwei, Jr. were self-made taipans who led genuine and inspiring “rags-to-riches” success sagas. Jon Ramon Aboitiz and his family have achieved the impressive feat of sustaining their clan’s wealth and business success beyond three generations.
Below is a partial list of the Philippines’ latest wealthiest based on the latest 2016 “Forbes” roster:
1. Henry Sy has net worth of $13.7 Billion, age 91, SM Investments Corporation and other businesses
2. John Gokongwei, Jr. has net worth $6.8 Billion, age 90, diversified businesses
3. Aboitiz family has net worth $5 Billion, Aboitiz & Company
4. Lucio Tan $4.9 Billion, 82, diversified
5. George Ty $4.6 Billion, 83, banking
6. Tony Tan Caktiong $4.3 Billion, 63, fastfood
7. Jaime Zobel de Ayala $4.1 Billion, 82, diversified
8. Enrique Razon, Jr. $3.5 Billion, 56, ports
9. David Consunji $3.1 Billion, 94, construction
10. Andrew Tan $3 Billion, 64, diversified
11. Lucio and Susan Co $2 Billion, 61, retail
12. Manuel Villar $1.8 Billion, 66, real estate
13. Robert Coyiuto, Jr. $1.7 Billion, 63, power
14. Iñigo & Mercedes Zobel $1.5 Billion, 60, diversified
15. Gotianun family $1.3 Billion, real estate
16. Ramon Ang $1.21 Billion, 62, diversified
17. Edgar Sia II $1.2 Billion, 39, fastfood
18. Roberto Ongpin $1.19 Billion, 79, diversified
19. Dean Lao $1.15 Billion, 57, chemicals
20. Eduardo Cojuangco, Jr. $1.14 Billion, 81, food and drinks
21. Yap family $1.1 Billion, 90, banking