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Richest Filipino People 2009

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Philippines Richest People Business Reviews - Philippines Rich List

richest Philippines People
Forbes Rich Filipino List 2009
Review of the Philippines richest people
according to the Forbes business magazine, 2009

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The Richest Philippines People Philippines Forbes Rich List - The 40 Richest Filipino People in 2009

Like most other countries around the world, the Philippines were hit hard by the struggling world economy in 2008 and 2009. Despite worldwide hardships, however, Philippine's ten richest people were able to hold on to their wealth and even grow their net worth. In fact, the total net worth of the country's richest people rose from $14.2 billion in 2008 to $16.4 billion in 2009.

Out of the forty people on Forbe's list, 25 are richer, nine of these in the top ten. Henry Sy, founder of SM Investments, saw his net worth grow from $700 million to $3.8 billion, making him the largest gainer on the list.

Another individual to make significant gains over the year was David Consunji, owner of the construction firm DMCI, who saw his assets grow to $300 million from $105 million the year prior.

Although there are many returning members to this year's Forbes list, there were also three newcomers. Robert Coyiuto Jr, the head of a petroleum exploration firm, Benjamin Romualdez, a shareholder in Henry Sy's Banco de Oro, and Marian Rosario Fong, a woman with 1% share in SM Investments, making her worth approximately $38 million and putting her at the bottom of this year's list.

Despite significant net worth growth on this year's Forbes list for the Philippines, there were nine individuals who saw large losses in their net worth over 2009. Among them were Rolando and Rosalinda Hortaleza, founders of the personal care company Splash, who saw more than a 50% drop in stock prices since October, plummeting their fortunes by $51 million. Eugenio Lopez III also lost money of the year as did Luis Virata whose fortune fell by an estimated 80%.

The minimum net worth to make it on this years Fobes list of the 40 richest Filipinos increased from $30 million in 2008 to $38 million in 2009. The list was compiled using share prices and exchange rates calculated on August 14, 2009. Unlike other Forbes lists, the richest Filipino list includes shared family fortunes.

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top 10 rich list Richest Top 10

Top 10 wealthiest people in the Philippines 2009 according to the Forbes business magazine.
(All figures in American Dollars)

1. Henry Sy, $3.8 billion, SM Investments
2. Lucio Tan, $1.7 billion, Philippine National Bank
3. Jaime Zobel de Ayala, $1.2 billion, Ayala Corp
4. Andrew Tan, $850 million, Alliance Global Group
5. John Gokongwei, $720 million, JG Summit
6. Tony Tan Caktiong, $710 million, Jollibee Foods
7. Eduardo Cojuangco Jr., $660 million, San Miguel
8. Enrique Razon Jr., $620 million, International Container Terminal Services
9. Manuel Villar, $530 million, Vista Land & Lifescapes and Polar Property Holdings
10. George Ty, $515 million, Metrobank

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