Sy Siblings Top Forbes’ Billionaires 50 Richest in the Philippines for 2022

The Sy siblings took the top spot as the Philippines’ richest, according to Forbes’ billionaire ranking list in 2022.

Despite the family wealth shrinking by US$4 billion in 2021, Teresita, Elizabeth, Henry Jr., Hans, Herbert, and Harley had a combined net worth of US$12.6 billion or a whopping P699.4 billion from the fortune they inherited from their late father, Henry Sy. 

Shares of the Sy siblings in SM Investments declined by 19% from the previous year, which led investors to become “skittish.” At present, the company’s daily operations are managed by field experts, but the Sy siblings remain involved in the board meetings to “guide SM’s overall strategy,” according to a press release from Forbes on Aug. 10.

The second on the list is real estate billionaire and former politician Manny Villar with a net worth of US$7.8 billion or P433.17 billion, followed by port mogul Enrique Razon Jr. on the third spot with a net worth of US$5.6 billion or P311 billion.

Here’s Forbes’ list of the top 10 wealthiest people in the Philippines:

1. Sy siblings -US$12.6 billion

2. Manuel Villar - US$7.8 billion

3. Enrique Razon Jr. - US$5.6 billion

4. Lance Gokongwei and siblings - US$3.1 billion

5. Aboitiz family - US$2.9 billion

6. Isidro Consunji and siblings- US$2.65 billion

7. Tony Tan Caktiong - US$2.6 billion

8. Jaime Zobel de Ayala - US$2.55 billion

9. Ramon Ang - US$2.45 billion

10. Andrew Tan - US$2.4 billion

The combined wealth of the top 50 billionaires in the Philippines for 2022 reached US$72 billion (P3.995 trillion), which is lower than US$79 billion (P4.384 trillion) from last year amid the country’s economic recovery in Q1.