MANILA, Philippines — Former lawmaker and real estate magnate Manuel “Manny” Villar emerged as the only Filipino who is included in the top 200 billionaires in 2024 by Forbes Magazine.
Villar ranked 190 out of the 200 billionaires in the world in 2024 with a total net worth of $11.7 billion (P660,125,700,000) coming from $8 billion (P451,376,000,000) in 2023, according to the magazine.
According to Forbes, the former lawmaker’s biggest asset is his stake in Golden MV Holdings, a developer of housing projects and memorial parks.
Villar also leads Vista Land & Lifescapes, a property development company managed by his son Manuel Paolo.
The former legislator also possesses four other publicly traded companies, which include mall operator Vistamalls, home improvement chain AllHome, supermarket chain AllDay Marts and Premiere Island Power REIT.
In June 2022, the company introduced VistaREIT, a real estate investment trust, with an initial collection of 10 shopping malls and two office towers, according to Forbes.
Villar is the husband of Sen. Cynthia Villar and the father of Sen. Mark Villar and Rep. Camille Villar (Las Piñas).
It could also be recalled that Villar ran for president during the 2010 elections but lost to former President Benigno Aquino III.
Villar also became the former speaker of the House of Representatives from 1998 to 2000 during the administration of former President Joseph Estrada.
In the Top 50 billionaires in the Philippines, meanwhile, Villar ranked second next to the Sy Siblings who has a combined wealth of $14.4 billion (P812,476,800,000).
However, the Sy siblings were ranked individually in the world list.
Villar was followed by Enrique Razon ($8.1 billion) and Ramon Ang ($3.4 billion).
Forbes reported that the number of billionaires worldwide has increased to 2,781,141 more than last year.
This growth comes despite geopolitical unrest and ongoing inflation concerns as their wealth expands.