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The soaring remittance-driven economy has significantly increased the wealth of Philippines’ richest people by $13 billion to $47.4 in 2011-2012. According to Forbes, it has outperformed many of its neighboring countries in Asia. The Philippines now has total of 15 billionaires from 11 as of last year due to outsourcing, tourism, ongoing consumer boom, 17% increase in stock market plus the 6.4% economic growth during the last quarter.
Henry Sy is still the richest person in the country with a total net worth of $9.1 billion which increased by 1.9 billion last year according to Forbes magazine. Enrique Razon Jr. is this year’s highest gainer in the Philippines. His wealth increased by $2 billion to $3.6 billion making him the third richest person in the country.
Here's the Top 40 Richest People in the Philippines as of 2012:
No. 1 Henry Sy & family
Net Worth:$9.1 Billion - As of June 2012
Source of Wealth: Diversified
No. 2 Lucio Tan & family
Net Worth:$4.5 Billion - As of June 2012
Source of Wealth: Diversified
No. 3 Enrique Razon, Jr.
Net Worth:$3.6 Billion - As of June 2012
Source of Wealth: Port
No. 4 John Gokongwei, Jr. & family
Net Worth:$3.2 Billion - As of June 2012
Source of Wealth: Diversified
No. 5 David Consunji & family
Net Worth:$2.7 Billion - As of June 2012
Source of Wealth: Construction
No. 6 Andrew Tan
Net Worth:$2.3 Billion - As of June 2012
Source of Wealth: Diversified
No. 7 Jaime Zobel de Ayala & family
Net Worth:$2.2 Billion - As of June 2012
Source of Wealth: Diversified
No. 8 George Ty & family
Net Worth:$1.7 Billion - As of June 2012
Source of Wealth: Banking
No. 9 Roberto Ongpin
Net Worth:$1.5 Billion - As of June 2012
Source of Wealth: Diversified
No. 10 Eduardo Cojuangco
Net Worth:$1.4 Billion - As of June 2012
Source of Wealth: Food & Drinks
No. 11 Robert Coyiuto, Jr.
Net Worth:$1.3 Billion - As of June 2012
Source of Wealth: Power
No. 12 Tony Tan Caktiong & family
Net Worth: $1.25 Billion - As of June 2012
Source of Wealth: Fast food
No. 13 Lucio and Susan Co
Net Worth: $1.2 Billion - As of June 2012
Source of Wealth: Retail
No. 14 Inigo & Mercedes Zobel
Net Worth:$1.15 Billion - As of June 2012
Source of Wealth: Diversified
No. 15 Emilio Yap
Net Worth:$1.1 Billion - As of June 2012
Source of Wealth: Diversified
No. 16 Jon Ramon Aboitiz & family
Net Worth:$955 Million - As of June 2012
Source of Wealth: Diversified
No. 17 Andrew Gotianun & family
Net Worth:$825 Million - As of June 2012
Source of Wealth: Real estate
No. 18 Manuel Villar
Net Worth:$720 Million - As of June 2012
Source of Wealth: Real Estate
No. 19 Beatrice Campos & family
Net Worth:$720 Million - As of June 2012
Source of Wealth: Pharma
No. 20 Vivian Que Azcona & family
Net Worth:$690 Million - As of June 2012
Source of Wealth: Retail
[See full list on Forbes.com]
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