Villar tops list of Philippine billionaires

MANILA, Philippines — Real estate and retail tycoon Manuel Villar, chairman of the Villar Group, remains the country’s richest man, according to the Forbes 2023 World’s Billionaires list.

The 37th global rich list, topped by Bernard Arnault, the French luxury goods titan who owns the Louis Vuitton empire, counted 2,640 billionaires around the world.

In the Philippines, Villar topped the list at No. 232 in the world ranking with a net worth of $8.6 billion (P467 billion), marking the fifth year he has stayed on top.

He is followed by ports and casino tycoon Enrique Razon Jr., chairman of International Container Terminal Services Inc., at No. 312 with a net worth of $7.3 billion (P397 billion).

San Miguel Corp. president and CEO Ramon Ang is at No. 852 with a net worth of $3.4 billion (P185 billion).

Henry Sy Jr., eldest son of the late retail mogul Henry Sy Sr., and property tycoon Andrew Tan are tied at No. 1,217, both having a net worth of $2.5 billion (P136 billion).

Two other Sy siblings, Hans and Herbert, with a net worth of $2.4 billion (P130 billion), are tied with tobacco and airlines magnate Lucio Tan at No. 1,272.

Sy siblings Harley and Teresita are tied at No. 1,368 with a net worth of $2.2 billion (P120 billion) each, while another sibling Elizabeth is at No. 1,575 with a net worth of $1.9 billion (P103 billion). The siblings hold different positions in the sprawling Sy-owned business empire.

Budget carrier, retail and property tycoon Lance Gokongwei, the only son of the late tycoon John Gokongwei, is at No. 2,020 with a net worth of $1.4 billion (P76 billion). He is currently the president and CEO of JG Summit Holdings Inc.

Jollibee Group founder Tony Tan Caktiong is at No. 2,259 with a net worth of $1.2 billion (P65 billion).

Zobel heir Inigo Zobel is at No. 2,540 with a net worth of $1 billion (P54.35 billion), completing the top ten billionaires in the Philippines in terms of net worth.

The dollar billionaires club had less members this year at 2,640 compared to 2,668 last year, according to Forbes.

“The number of billionaires around the globe has fallen for the second straight year, as both public and private markets shuddered,” Forbes said.

The billionaires’ net worths were calculated based on stock prices and exchange rates from March 10, 2023. ?Altogether, the planet’s billionaires are now worth $12.2 trillion (P663 trillion), down from $12.7 trillion (P690 trillion) in March 2022.

Arnault topped this year’s World’s Billionaires ranking for the first time, with an estimated net worth of $211 billion (P11.46 trillion), on the back of a banner year at LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury goods company.

He unseated Elon Musk, who dropped to second spot with an estimated net worth of $180 billion (P9.78 trillion) that is $39 billion (P2.11trilllion) less than a year ago, following his highly publicized takeover of Twitter and plummeting shares in Tesla, Forbes said.

“It’s been another rare down year for the planet’s richest people,” said Chase Peterson-Withorn, Forbes senior editor for wealth.

“Nearly half the list is poorer than they were 12 months ago, but a lucky few are billions – or even tens of billions – of dollars richer,” Peterson-Withorn added.

There are significantly fewer newcomers in this year’s list at 150 from 235 last year, and they include basketball superstar LeBron James, fashion designer Tom Ford and golf great Tiger Woods.

A young newcomer is 30-year-old Red Bull heir Mark Mateschitz with a net worth of $34.7 billion (P1.88 trillion), who is this year’s richest newcomer.

In terms of gender, there are 337 women billionaires, up from 327 in 2022, or 13 percent of the list, up from 12 percent a year ago.

By country, the United States is home to most of the billionaires with 736, followed by China including Hong Kong and Macau, with 562.

On the other hand, 254 people fell off the list in 2023; another 33 died.

Notable drop-offs include FTX founder Sam Bankman-Fried, Patagonia founder Yvon Chouinard and musician Kanye West.