Razon tops Forbes richest in Philippines list
MANILA, Philippines — Ports and casino tycoon Enrique Razon Jr. has unseated the Sy siblings in the Forbes list of the Philippines’ 50 richest.
Razon took top spot for the first time in the Philippines’ 50 richest list for 2026 by Forbes with a record net worth of $21.8 billion. He ranked No. 2 last year with a net worth of $11.5 billion.
Razon chairs listed companies including International Container Terminal Services Inc., Manila Water Co. and Solaire casino operator Bloomberry Resorts.
Sliding into the second spot this year are the Sy siblings, heirs to the SM group built by the late Henry Sy Sr., whose fortune stood at $9.2 billion, down from last year’s $11.8 billion.
At No. 3 is tycoon Ramon Ang of San Miguel Corp. whose net worth stood at $3.5 billion, slightly lower from last year’s $3.75 billion wherein he placed fourth.
This year’s fourth and fifth spots were occupied by the husband-and-wife tandem of Lucio and Susan Co of Puregold with $3.3 billion and Isidro Consunji and siblings of diversified engineering conglomerate DMCI Holdings with $3 billion.
Cracking the sixth spot in this year’s rankings is taipan Lucio Tan, chairman of the LT Group, with a net worth of $2.9 billion.
Jaime Zobel de Ayala and family retained their position at No. 7 with a net worth of $2.8 billion, followed by the Que Azcona family of Mercury Drug at No. 8 with a net worth of $2.5 billion.
Rounding out the top 10 are real estate magnate Manuel Villar Jr. with $2.4 billion and the Ty siblings with $2.3 billion.
This year, Forbes said the biggest gainer in percentage terms is Robert Coyiuto Jr., who more than doubled his fortune to $925 million, propelling him to No. 17 in the list.
Forbes said Coyiuto’s shares in one of his key holdings, Synergy Grid & Development Philippines, the controlling shareholder of National Grid Corp. of the Philippines, rallied on favorable regulatory changes.
Meanwhile, among the returnees is Jose Ma. Concepcion III, president and CEO of food and beverage company RFM, who ranked at No. 49 with $200 million.
Overall, Forbes said the fortunes of 33 members in the list are lower and only 14 are better off than a year ago.
“The energy shock from the Iran conflict took its toll, stoking inflation while the peso fell. As a result, the collective wealth of the country’s 50 richest tycoons dropped to $79 billion from $86 billion last year,” the report said.
The Forbes list used shareholding and financial information obtained from the families and individuals as well as stock exchanges, analysts and other sources.
Net worth is based on stock prices and exchange rates as of the close of markets on July 17.
Forbes said that unlike its billionaire rankings, the list includes family fortunes, such as those shared among extended families.
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