Tan, Sy retain slots in Asia’s richest list

Despite the global economic crunch, two Filipinos have retained their standings in a US magazine’s global list of billionaires in Asia: industrialist Lucio Tan, with a net worth of $1.9 billion, and shopping mall king Henry Sy, with $1.2 billion.

The 68-year-old Tan, who ranked 209th in the 2003 Forbes World’s Billionaires list, runs businesses that include tobacco plantations, Asia Brewery, Allied Bank and Philippine Airlines. Sy, 78, whose family owns the SM mall chain and has interests in banking and real estate, was 348th in the list.

Forbes reported that the number of global billionaires dropped to 476 from 497 last year and 538 in 2001. The names of the fabulously wealthy in the Forbes annual list, however, are largely the same as last year, albeit somewhat less rich.

Microsoft Corp. co-founder Bill Gates was still the richest man in the universe with a net worth of $40.7 billion. The 47-year-old American billionaire had an estimated $52.8 billion dollars a year ago, but like many others saw his fortunes melt down in the global stock market slump.

Hong Kong’s Li Ka-shing, who goes by the humble nickname "Superman," also kept his status as Asia’s richest person with a net worth of $7.8 billion, down from $10 billion last year, Forbes magazine said.

The 74-year-old self-made tycoon with interest ranging from utilities to telecommunications ranked 28th on the list. His son Richard Li, 36, has an assessed worth of just $1 billion, a mere 427th in the world rankings.

"A weak dollar helped keep some fortunes aloft, but overall economic woes continued to plague much of Asia," Forbes said in a statement.

"Real estate values fell further, exports contracted and bankruptcies are on the rise," it said, adding that 32 Asian billionaires saw their net worth decline.

The number of billionaires in Asia in 2003 shrank to 61 from 70 last year, and 14 who were on last year’s list were absent in the current edition.

Six of those dropped were Japanese, reflecting the malaise in the world’s second biggest economy. But Asia has some good success stories, too.

Thai beverage entrepreneur Chaleo Yoovidhya, whose sugary Red Bull energy drink keeps millions of people perked up, made it to the list with $1.1 billion, for a ranking of 368th.

Malaysia’s media and telecommunications magnate Ananda Krishnan, 64, was also cited for raising hundreds of millions of dollars from the public offering of his cellular phone firm Maxis. He is worth $1.6 billion, Forbes said, and took the 256th place.

Li Ka-shing may have topped the list in Asia, but he sill has a long distance to cover if he hopes to catch up with Bill Gates, who also topped the list of the planet’s richest individuals last year and is one of 222 Americans out of the 476 billionaires from 43 countries on the current list.

Ranked behind Li in Asia is Japan’s Nobutada Saji, 57, whose family-owned business, dominant in the beverage sector, earned him a wealth of $7.1 billion, followed by Hong Kong developer Walter Thomas and Raymond Kwok of Sun Hung Kai properties, assessed to be worth $5.9 billion, according to Forbes.

In Asia, Japan still had the largest number of billionaires with 19, followed by 11 in Hong Kong and seven in India.

The five Singaporeans on the list are led by Khoo Tech Puat, a low-key 86-year-old tycoon who made his fortune in banking and ranked 137th in the world with an estimated worth of $2.6 billion.

Next in Singapore’s honor roll were property magnate Kwek Leng Beng, 62, and Ng Teng Fong, 74, with $1.7 billion each at 236th position.

Malaysia had four on the list, led by Robert Kuok, 80, whose global empire includes Hong Kong’s South China Morning Post newspaper and the Shangri-La hotel chain, with a net worth of $3.4 billion.

South Korea, the Philippines and Thailand had two each, and Indonesia one.

Lee Kun-hee, 61, of the Samsung industrial group, is South Korea’s richest with a fortune of $2.8 billion making him world number 123, followed by candy man Shin Kyuk-ho, 80, with $2.2 billion at number 177.

Tobacco magnate Rachman Halim, 55, was Indonesia’s sole Forbes list billionaire with a family wealth placed at $1.4 billion.

Others who topped this year’s list include: legendary investor Warren Buffett (No. 2), German brothers Karl and Theo Albrecht (No. 3), Microsoft co-founder Paul Allen (No. 4), Saudi Prince Alwaleed Bin Talal Alsaud (No. 5) and Oracle Corp.’s Larry Ellison (No. 6).

Five members of the Warton family — Alice, Helen, Jim, John and S. Robson — heirs to the fortune of Wal-Mart retail group, occupied the number seven to 11 spots. Next on the list at number 12 was Liliane Bettencourt, heir to the l’Oreal fortune.