The Top 15 Richest Filipinos (2022)

The COVID-19 pandemic has impacted people’s livelihood and businesses in the Philippines. However, the rich of the country are weathering the storm. Initially, the pandemic affected them. Yet, in the second year, they survived not only but even prospered. This article will give you the top 15 richest Filipinos in 2022.

Forbes’ Real Time Billionaires of the Philippines is the basis for this list.

Top Richest Filipinos in 2022

1. Manny Villar

Net worth: $7.7 billion (as of Feb. 12, 2022)

Manuel "Manny" Bamba Villar Jr was born and raised in Tondo, Manila, an impoverished part of Manila. His early exposure to business was in helping her mother sell shrimp and fish at nearby Divisoria Public Market at six.

After finishing Bachelor of Science in Business Administration at the University of the Philippines Diliman in 1970, he worked for Sycip, Gorres, Velayo & Co. (SGV & Co). He then moved to the Private Development Corporation of the Philippines.

In 1975, he started his own sand and gravel business. The sand and gravel business exposed him to the construction business. This gave him the idea of constructing and selling houses. The idea gave birth to Camella Homes in 1977. 

At present, Camella is a subsidiary company of Vista Land and Lifescapes Inc. together with other companies like Brittany Corporation, Crown Asia Properties, Vista Residences, Camella Manors, Lessandra, Communities Philippines, and VLL International Inc..

Now, Manny Villar is the chairperson of the following companies: Vista Land & Lifescapes, Starmalls, Inc. and Golden Bria Holdings, Inc..

Age: 72
Source of Wealth: Real estate, Self-made
Residence: Las Piñas, Metro Manila
Marital Status: Married
Spouse(s): Cynthia Aguilar ​(m. 1975)
Children: 3
Education: University of the Philippines
Philanthropy: Villar SIPAG (Social Institute for Poverty Alleviation and Governance)

Quotes: 
On challenges
"I never run away from challenges no matter how extremely difficult. Giving up is not in my DNA."

On achievements
"Achievements are not end posts rather they are guideposts to your next accomplishments. So, after building the most houses for our people I decided to expand that dream, building what I call communities."

2.  Enrique K. Razon Jr.

Net worth: $6.3 billion (as of Feb. 12, 2022)

Enrique Anselmo Klar Razon Jr. is a third generation Spanish-Filipino. People know his family for their port services business. His grandfather started the port business in Manila in 1916. World War 11 halted the port operations. However, his father, Enrique Razon Sr., rebuilt the business after the war. Enrique Razon Jr. is now the one holding the helm of the business and has expanded it to other countries.

Ports services is the main business of Enrique Razon Jr.. However, he has also ventured into other areas as well. He is into mining, oil exploration, real estate, water supply services, resorts and casinos and many more.

He is the chairperson and the President of many companies. Some of them are:

• ICTSI
• IWI Container Terminal Holdings, Inc.
• Razon Industries, Inc.
• Sureste Realty Corporation

He is the chairperson and chief executive officer of Bloomberry Resorts Corporation.

He is the chairperson of several companies. Some of them are:

• Sureste Properties, Inc.
• Monte Oro Resources and Energy, Inc.
• Bloomberry Resorts & Hotels, Inc.

Age: 61
Source of Wealth: Ports
Residence: Manila, Philippines
Marital Status: Married
Spouse(s): Lizzie Santos-Razon
Children: 2
Education: De La Salle University
Philanthropy: ICTSI Foundation, Inc.

Quotes:
On dealing with crisis
“You can’t overcome [crisis], you can only survive them. So we’ve set ourselves to be able to survive this. We expect crises more often than other people do. I always expect to wake up to another crisis, so we’re always prepared for that. That’s always at the back of our minds.”

On taking risks
“If you’re taking risks, you’re not going to be right every time. The important thing is the ones that are correct, pay for your mistakes.”

3. Henry Sy Jr.

Net worth: $3.4 billion (as of Feb. 12, 2022)

Henry Tan Sy Jr. is the third child and eldest son of Henry Sy Sr., the late founder of SM Investments, also known as SM Group.

Now, he is one of the vice chairpersons of SM Investments. The other vice chairperson is his older sister, Teresita Sy-Coson. He also chairs SM Prime, one subsidiary of SM Investments. SM Prime focuses on properties. It develops, conducts, operates and maintains SM-owned malls, residences, offices, hotels and convention centers.

His other responsibilities are:

• Chairperson and Chief Executive Officer of SM Development Corporation
• Chairperson of Pico de Loro Beach and Country Club Inc.
• Vice Chairperson of The National Grid Corporation of the Philippines.

In 2017, he started Big Boss Cement, a bulk cement supplier. However, he temporarily suspended the operations last year and it could end this year, 2022.

Age: 69
Source of Wealth: Diversified
Residence: Manila, Philippines
Marital Status: Married
Spouse(s): Jasmine Sy
Children: 3
Education: De La Salle University
Philanthropy: SM Foundation

4.  Andrew Tan

Net worth: $2.8 billion (as of Feb. 12, 2022)

Andrew Lim Tan is a Chinese immigrant. He was born in Fujian, China. The family then moved to Hong Kong. Finally, they came to Manila when he was 16.

He studied accounting at the University of the East. To support his studies, he walked to school, sold watches to his classmates and tutored grade school students in math. Despite what he had gone through, he graduated magna cum laude in 1974.

Then, he worked for the tycoon Leonardo Ty of Union Hitachi Philippines and Ajinomoto Philippines. After working for Ty, he started Megaworld with little capital. Megaworld built apartment complexes and office buildings.

Now, Andrew Tan chairs Alliance Global, a holding company with five subsidiary companies:

• Megaworld Inc. (real estate developer)
• Emperador Inc. (brandy manufacturer)
• Travellers Inc. (hotel company)
• McDonald’s (Philippine master franchisee)
• Infracorp (transportation solutions company)

Age: 70
Source of Wealth: Diversified, Self-made
Residence: Manila, Philippines
Marital Status: Married
Spouse(s): Katherine Tan
Children: 4
Education: University of the East
Philanthropy: Megaworld Foundation

Quotes:
On taking risks
“One way to mitigate our risk is to invest in companies with understandable business models.”

On starting a business
“Do not rush into a business just because you have the capital. You'd lose your shirt if you jump into it recklessly. Do your homework first. Study the market and look for that golden opportunity. Whatever business you choose to go into, it must be something that you can pursue with passion.”

 5. Tony Tan Caktiong

Net worth: $2.8 billion (as of Feb. 12, 2022)

Tony Tan Caktiong is the founder and chairperson of Jollibee Food Corporation, one of the world's fastest-growing Asian quick service restaurant (QSR) chains.

Jollibee has the most QSRs in the Philippines with over 1,400 restaurants all over the country. And it has a growing global presence as well. It has over 270 international branches.

However, Jollibee Food Corporation has other brands in the Philippines. They are Greenwich Pizza, Chowking, Mang Inasal and Red Ribbon. It holds the master franchise license of Burger King in the country.

It also gained several foreign brands as well. In China, it owns two fast food chains, Yonghe King and Hongzhuangyuan. It owns American brands like Smashburger and The Coffee Bean & Tea Leaf. It partly owns US-based Tortas Fronteras and Hong-Kong based Tim Ho Wan Asia-Pacific.

Caktiong has entered the real estate industry through his partnership with partner Edgar Sia II. He partly owns DoubleDragon Properties.

He is a child of Chinese immigrants from Fujian and was born in Davao del Sur.

Franchise Market Philippines listed Caktiong as one of the iconic Filipino entrepreneurs.

Age: 69
Source of Wealth: Food, Self-made
Residence: Manila, Philippines
Marital Status: Married
Spouse(s): Grace Tan Caktiong
Children: 3
Education: University of Santo Tomas
Philanthropy: Jollibee Group Foundation

Quotes:
On dreaming to succeed
“Dreams are free, so why limit what you are aspiring for? But dreaming is not enough. One needs to put in enough energy and input.”

On charity and business
“The greatest form of charity is growing a successful business. The multiplier effect creates more employment and can improve the lives not only of your people but your people’s families as well.”

6. Hans Sy

Net worth: $2.5 billion (as of Feb. 12, 2022)

Hans Tan Sy is another child of Henry Sy, the late founder of SM Investments. He is the fourth child and the second son of Henry Sy.

As to his current functions, he is the chairperson of the Executive Committee and non-executive director of SM Prime. Previously, he was the president of SM Prime but he resigned in 2016.

The other positions he is holding right now are:
Adviser to the Board of SM Investments Corporation
Chairperson of China Banking Corporation
Chairperson of National University

In 2019, Forbes Asia honored Hans Sy as one of the Heroes of Philanthropy. Forbes recognized his contributions to the Child Haus, a temporary shelter for children with cancer and their caregivers.

Age: 66
Source of Wealth: Diversified
Residence: Manila, Philippines
Marital Status: Married
Spouse(s): Carol Sy
Children: 4
Education: De La Salle University
Philanthropy: SM Foundation and Child Haus

Quotes:
Solving problems
“When there’s a problem, look for a solution. Don’t even try to challenge it because, even if it is not your mistake, it can happen again.”

Responding to the pandemic
“In these trying times, we are in uncharted territory. Let us be one with each other, united in the spirit of service.”

7. Herbert Sy

Net worth: $2.5 billion (as of Feb. 12, 2022)

Herbert Tan Sy is an Advisor to the Board of SM Investments and director of SM Prime, the SM Investments’ property developer.

His work focuses more on the food retail business. Concerning this, he holds the following positions:

• Chairperson of Supervalue Inc. (SM Supermarket)
• Super Shopping Market Inc. (SM Hypermarket)
• Sanford Marketing Corporation (Savemore Market)
• Director of Alfamart Trading Philippines Inc. (convenience store)

He is also a Director of China Banking Corporation.

Herbert Sy is the fifth child and the third son of Henry Sy Sr., the late founder of SM Investments. 

Age: 65
Source of Wealth: Diversified
Residence: Manila, Philippines
Marital Status: Married
Education: De La Salle University
Philanthropy: SM Foundation

8. Harley Sy

Net worth: $2.3 billion (as of Feb. 12, 2022)

Harley Tan Sy is one of the Sy siblings. He is the youngest among the six children and the fourth son of Henry Sy, the late founder of SM Investments. 

Now, he functions as the executive director of SM Investments. He is also the vice chairperson and treasurer at SM Retail, Inc. and treasurer for SM Land, Inc..

In relation to their banks, he serves as a director of China Banking and as an adviser to the Board of Banco de Oro Private Bank.

He and his wife, Debbie Sy, are board members of the SM Foundation.

Age: 62
Source of Wealth: Diversified
Residence: Manila, Philippines
Marital Status: Married
Spouse: Debbie Pe-Sy
Education: De La Salle University
Philanthropy: SM Foundation

9. Teresita Sy-Coson

Net worth: $2.3 billion (as of Feb. 12, 2022)
Teresita Sy-Coson is the eldest child and first daughter of Henry Sy Sr., the late founder of SM Investments.

She is the co-vice chairperson of SM Investments. The other co-vice chairperson is her younger brother, Henry Sy, Jr.. She also serves as the advisor to the Board of SM Prime Holdings. She is the chairperson of Banco de Oro Unibank, the largest bank in terms of assets. 

She married Louis Coson, a Chinese lumber tycoon. However, she became a widow in 2003 when Coson died of sickness.

Age: 71
Source of Wealth: Diversified
Residence: Manila, Philippines
Marital Status: Widowed
Spouse: Louis Coson (deceased)
Children: 3
Education: Assumption College
Philanthropy: SM Foundation

Quotes:
One equality between men and women
“In the Philippines, we don't have that much of a problem. There's not much difference between the men and the women. In our business, we always have a good mixture of the men and the women.”

On the different contributions of men and women
“For the men, they are more of a risk taker, and for the women, they are more nurturing and more details. So the combination of the men and women is very good for business.”

10. Ramon Ang

Net worth: $2.1 billion (as of Feb. 12, 2022)

Ramon See Ang was born in Manila in 1954. His father ran a motor vehicle repair shop in Tondo, an impoverished district of Manila. Because of financial difficulties, he had to do odd jobs to support his family and college education.

After college, he followed in his father’s footsteps of repairing vehicles. However, he concentrated on fixing, buying and selling luxury cars. It was through this business that he got to know San Miguel Corporation (SMC) chairperson and CEO Eduardo “Danding” Conjuangco who sold him alloy wheels.

Eduardo Cojuanco took him under his wings. Cojuangco asked him to take care of his cement business, Northern Cement. Ang made the business profitable. Seeing his entrepreneurial skills, Cojuanco brought him to SMC. 

Once again, Ang proved to be a good entrepreneur and leader. Cojuangco liked and trusted him so much that he later on appointed Ang as his successor as chairperson and CEO at SMC.

Under Ang’s leadership, SMC diversified its business expanding from food and beverage and packaging to fuel and oil, energy and infrastructure and many others.

He also has a large stake in Eagle Cement.

Ang’s current positions are:

• President, CEO and COO of San Miguel Corporation (SMC) 
• President and CEO of Top Frontier Investment Holdings, Inc.
• Chairperson of Eagle Cement Corporation

Age: 68
Source of Wealth: Diversified, Self-made
Residence: Manila, Philippines
Marital Status: Married
Spouse: Tessie Ang
Children: 8
Education: Far Eastern University
Philanthropy: San Miguel Foundation 

Quotes:
On making tough decisions
"One of the reasons for my accomplishments is because of my ability to read people and situations. I am able to adapt. I make tough decisions based on gut instinct."

On what drives him
"What drives everything is our greater purpose to help make the Philippines better because this is our country and our home."

11. Elizabeth Sy

Net worth: $2 billion (as of Feb. 12, 2022)

Elizabeth Tan Sy is the second child and second daughter of Henry Sy, the late founder of SM. She works as an Advisor to the Board of SM Investments. She is a member of the Executive Committee and Trust Committee of the Board of Directors of Banco de Oro. She is also the co-chairperson of Pico De Loro Beach and Country Club.

However, most of her work concentration is on the hotel operations of SM Investments. She is the chairperson and President of SM Hotels and Convention Corporation. Her father exposed her to the hotel business by making her an assistant at Manila Royal Hotel, her father’s first hotel.

Age: 69
Source of Wealth: Diversified
Residence: Manila, Philippines
Marital Status: Widowed
Spouse: Charles Uy (deceased)
Children: 1
Education: Maryknoll College
Philanthropy: SM Foundation

12. Lucio Tan

Net worth: $1.9 billion (as of Feb. 12, 2022)

Lucio Chua Tan Sr. was born in Xiamen (Amoy), China. However, the Tan family immigrated to the Philippines when he was still young. The family settled in Cebu.

Because the family was struggling, young Lucio had to work as a stevedore, tying cargoes with abaca rope. Later, he studied engineering at Far Eastern University. In order to finish the course, he had to work as a janitor in a tobacco factory and he did some small business as well.

His first successful business was Himmel Industries, a glycerin factory, which he started in 1960. His work at the tobacco factory became a stepping stone for him to start a tobacco company, Fortune Tobacco Company, in 1966.

From these businesses rose LT Group which now has diversified into the following interests: 

• Spirits (Tanduay Distillery and Asian Brewery)
• Banking (Philippine National Bank)
• Property development (Eton Properties Philippines)
• Education (University of the East)
• Sugar (Victorias Milling Company)
• Airline business (Philippine Airlines)

Age: 87
Source of Wealth: Diversified, Self-made
Residence: Manila, Philippines
Marital Status: Married
Spouse(s): Letty Tan (deceased), Carmen Khao Tan
Children: 6
Education: Far Eastern University
Philanthropy: Tan Yan Kee Foundation

Quotes:
On failures
“When you study 5,000 years of Chinese civilization, you will learn that even the greatest achievers suffer setbacks.”

On success
“There's no secret. Just work hard.”

13. Ricardo Po Sr. & family

Net worth: $1.4 billion (as of Feb. 12, 2022)

Ricardo Po Sr. is another self-made billionaire on the list. He passed away last year, October 11, 2021. Now, his children are the ones running the business.

Because of the turmoil in China, Po and his mother got separated from his father. He and his mother came to the Philippines in 1947. He taught himself English with the help of the Chinese-English Dictionary. Later, he made money by becoming an English translator for Chinese business people.

He could not finish college because of financial constraints. Instead, he worked as a journalist for a local Chinese newspaper. After that, he started his own advertising firm, Cathay Promotions. He entered stock brokerage but lost his money because of the stock market crash.

In 1978, he founded Century Pacific Group. The company flourished and became the Philippines' leading exporter of tuna products. At present, the group has extended to property development through Arthaland. Together with a Singaporean wealth fund, it holds the master franchise for Shakey's Pizza in the country.

Age: 91
Source of Wealth: Canned food, Self-made
Residence: Manila, Philippines
Marital Status: Married
Spouse: Angelita Po
Children: 4
Philanthropy: RSPo Foundation Inc.

14. Roberto Ongpin

Net worth: $1.1 billion (as of Feb. 12, 2022)

Roberto Velayo Ongpin comes from a prominent nationalist Filipino-Chinese family in Manila. He studied for a Bachelor of Science in Business Administration at Ateneo de Manila University and graduated in 1957. He worked briefly for Procter & Gamble.

He went to Harvard University and took a Masters of Business Administration. He finished in 1961. In 1963, his maternal uncle, Fred Velayo, recruited him to join their company, Sycip, Gorres, Velayo and Company (SGV). 

Because of his excellent performance at SGV, he got noticed by people in the government. In 1979 at 42, Marcos appointed him as Minister of Trade and Industry. This made him the youngest member of the cabinet.

At present, he chairs Alphaland, his own property development company. However, he has investments in other companies as well.

Age: 85
Source of Wealth: Diversified, Self-made
Residence: Manila, Philippines
Marital Status: Married
Spouse: Monica Arellano Ongpin
Children: 4
Education: Ateneo de Manila University, Harvard University
Philanthropy: Jaime V. Ongpin (JVO) Foundation

15. Iñigo Zobel

Net worth: $1 billion (as of Feb. 12, 2022)

Iñigo Urquijo Zobel belongs to the prominent Filipino family of Spanish-German descent, the Zobel de Ayala family. He is a cousin of Jaime Zobel de Ayala.

He is the chairperson of Top Frontier Investment Holdings which is the largest and controlling shareholder of San Miguel Corporation. Because of this, he sits on the board of SMC.

He also has a stake in Ayala Corporation with diverse interests.

Age: 65
Source of Wealth: Diversified
Residence: Makati, Philippines
Marital Status: Married
Spouse: Maricris Cardenas-Zobel
Children: 5
Philanthropy: Enrique Zobel Foundation

15. Lance Gokongwei

Net worth: $1 billion (as of Feb. 12, 2022)

Lance Gokongwei ties with Iñigo Zobel at number 15 for having the same net income.

Lance Yu Gokongwei is the only son of the six children of the late John Gokongwei Jr., founder of JG Summit.

At present, he is the president and chief executive officer of JG Summit Holdings Inc. He is the chairperson of the following companies:

• Robinsons Retail Holdings, Inc.
• Universal Robina Corporation
• Robinsons Land Corporation
• Altus Property Ventures, Inc.
• JG Summit Petrochemical Corporation
• JG Summit Olefins Corporation
• Robinsons Bank Corporation. 

He is also the president and chief executive officer of Cebu Air, Inc. 

Age: 54
Source of Wealth: Diversified
Residence: Manila, Philippines
Marital Status: Married
Spouse: Mary Joyce Leong Gokongwei
Children: 2
Education: The Wharton School of the University of Pennsylvania, University of Pennsylvania, School of Engineering and Applied Science

Philanthropy: Gokongwei Brothers Foundation, Inc.

From the list above, you can know the top 15 richest Filipinos. Actually, there are 16 since Lance Gokongwei ties Iñigo Zobel at 15 for having the same net worth. The list achieves two things. One, it satisfies our curiosity of who are the richest people in the archipelago. 

Two, it can inspire you to work harder in order to succeed. Many of those on the list started from humble beginnings and yet through hard work have become successful and wealthy. So, make them your models and inspiration for you to work toward success.

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