The document summarizes Forbes' 2017 billionaires list, which found a record 2,043 billionaires worth $7.7 trillion total. 14 Filipino tycoons were included in the list, led by Henry Sy at #94 with $12.7 billion from real estate and retail conglomerate SM Investments. Other top Filipino billionaires included John Gokongwei Jr. at #250 from conglomerate JG Summit Group, Lucio Tan at #501 from tobacco and airlines, and George Ty at #544 from Metrobank. The document provided brief summaries of each billionaire's source of wealth and business activities.

1. fORBES 2017 BILLIONAIRE’S LIST:
MEET THE RICHEST PEOPLE ON
THE PLANET
SOURCE: fORBES, MANILA BULLETIN
REPORTED BY: CHARLENE ALMAIDA

2. fORBES MARCH 20, 2017
 On the 30th anniversary of Forbes’ guide to the world’s richest, we found a
record 2,043 billionaires – 233 more than a year ago. In total they are
worth $7.7 trillion.
METHODOLOGY
 The Forbes Billionaires list is a snapshot of wealth taken on February 17,
2017; we used stock prices and exchange rates from around the world to
calculate net worths. Some fortunes have changed considerably since then.
 We list individuals rather than multigenerational families who share large
fortunes, though we include wealth belonging to a billionaire’s spouse and
children if that person is the founder of the fortune.

3. 14 FILIPINO TYCOONS
INCLUDED IN fORBES’ LIST
OF WORLD’S RICHEST

4. #94 HENRY SY $12.7B
SM INVESTMENT CORPORATION
 Henry Sy, the richest person in the Philippines, owns retailers and real estate
throughout the country.
 However, Sy’s net worth dropped from $12.9 billion last year due to global market
volatility as well as strengthening of the US dollar.
 His family-owned SM Investments is the largest retailer in the Philippines, with stakes
in banking, property and retail.
 It announced in February 2016 that it is merging all its retail-related businesses under
SM Retail; in March SM announced a partnership with Singaporean e-commerce
company Lazada.
 Sy family’s holding firm, SMIC, has consistently been cited as one of the Philippines
best-managed companies.
 The Chinese businessman’s eldest daughter Teresita Sy Coson was also one of Asia’s
most powerful businesswomen.
 Sy studied retail at his father's elbow in the family convenience store. Not satisfied
with merely filling dad's shoes, he saved up to start a footwear shop, the humble
origins of his empire.

5. #250 JOHN GOKONGWEI, JR. $5.8B
JG SUMMIT GROUP
 John Gokongwei Jr. is the founder of JG Summit, one of the
largest conglomerates in the Philippines with interests in air
transportation, banking, food, hotels, power, chemicals, real
estate, and telecommunications.
 The Gokongwei family also has interests in Robinson Retail
Holdings, the Philippines second-largest multi-format retailer,
and Universal Robina Corp, one of the country's largest food
and beverage companies.
 He also owns franchises for True Value, Top Shop, Toys R Us, and
Daiso. He has more than 1,500 retail outlets.
 Gokongwei started a cornstarch plant in 1957. Gokongwei's
brother James Go chairs JG Summit. Gokongwei's only son Lance
is president, his eldest daughter Robina is president of Robinsons
Retail and his daughter Lisa runs Summit Media.

6. #501 LUCIO TAN $3.7B
PHILIPPINE AIRLINES, ASIA BREWERY
 Lucio Tan's LT Group has interests in tobacco,
spirits, banking and property development.
 The group reported a 50% increase in net
income in 2015.
 Subsidiary Asia Brewery partnered with Heineken
in May of 2016 to help upgrade its beer-brand
portfolio.
 Tan got his business start as a chemical engineer,
mopping floors to pay for school.
 He enjoys playing golf and flying helicopters.

7. #544 GEORGE TY $3.5B
METROBANK
 Also joining the country’s richest list is Metropolitan Bank and Trust
Co. (Metrobank) owner George Ty, 84, who landed on the fourth
rank, with his estimated net worth of $3.5 billion.
 Today, Ty’s Metrobank is the country’s second-largest bank in terms
of assets, and has been increasing its domestic presence and boasts
945 branches around the Philippines.
 George Ty's GT Capital Holdings has interests in banking, auto,
property development, power generation and insurance. The group
is taking a bigger bet on the infrastructure boom after exiting some
of its power investments.
 Ty also owns hotels under the Grand Hyatt and Marco Polo brands.
 At age 19 Ty was refused a bank loan to start a business; his
difficulties spurred him to start his own bank a decade later.

8. #564 ENRIQUE RAZON, JR. $3.4B
INTERNATIONAL CONTAINER TERMINAL SERVICES (ICTSI)
 Trailing Ty is casino and port operator Enrique Razon Jr., 57, who
saw his net worth at $3.4B. The billionaire chairs the International
Container Terminal Services (ICTSI), the country’s largest port
operator, which also operates through subsidiaries in eastern
Europe, Africa and the Americas.
 In recent years it's suffered from a slowdown in global trading;
income was down by almost 65% in 2015. ICTSI said it plans to
revive a container rail service through the Philippines' capital in
Manila.
 Razon's grandfather began with a port in Manila in 1916. Razon's
dad rebuilt the business after World War II. Razon started out in the
port business with his dad in Manila and transformed it into a global
giant.
 His hospitality firm, Bloomberry Resorts Co., includes its crown jewel,
the Solaire Casino and Resort in the Philippines.

9. #564 TONY TAN CAKTIONG $3.4B
JOLLIBEE
 Tony Tan Caktiong's Jollibee empire continues to expand
across the world and attract legions of loyal customers.
 Among the new hot spots of 2016: Skokie, Illinois, where
hundreds of customers lined up for an opening in
August.
 Jollibee is the fastest-growing Asian restaurant chain in
the world, selling Filipino, Chinese, American and
European dishes adapted to a modern, quick-serve,
affordable format.
 With partner Edgar Sia II, he also owns stake in the fast-
growing DoubleDragon Properties Corp.

10. #630 DAVID CONSUNJI $3.1B
DMCI HOLDINGS, INCORPORATED
 A former concrete inspector, David Consunji
founded construction company DMCI in
1954.
 The firm has since diversified into power
generation, real estate and infrastructure.
 Consunji also has stakes in the country's
largest coal miner, listed subsidiary Semirara
Mining.
 His son Isidro heads DMCI Holdings and
Semirara. David shares his fortune with his
children.

11. #814 ANDREW TAN $2.5B
ALLIANCE GLOBAL GROUP INC., MEGAWORLD
 The son of a factory worker, Andrew Tan
built his wealth developing large apartment
complexes around Manila.
 He earned his first fortune in brandy.
 Now his holding company, Alliance Global,
has interests in food and beverage, gaming
and real estate.
 It owns the country's McDonald's franchise
and listed brandy company Emperador.

12. #1376 ROBERTO COYIUTO, JR. $1.5B
PGA CARS
 Robert Coyiuto Jr chairs the privately held
Prudential Guarantee & Assurance, one of the
largest nonlife insurance companies in the
country.
 He also owns a 30% stake in the privately held
National Grid Corp. of the Philippines and a
stake in publicly listed Oriental Petroleum &
Minerals Corp.
 In addition, he owns PGA cars, a Philippines-
based distributor of luxury-car brands like Audi,
Porsche, Lamborghini and Bentley.

13. #1376 MANUEL VILLAR $1.5B
VISTALAND, STARMALL
 Manuel Villar is majority owner of Starmalls, one of the
Philippines' largest mall operators, and Vista Land &
Lifescapes, a property developer.
 In July of 2016 the firm announced plans to invest $25M to
open 7 more retail stores within the next year that will sell
home furnishings through its AllHome brand.
 The family-owned Golden Haven Memorial Park, a
property developer affiliate of Vista Land focused on parks,
went public in June of 2016.
 Villar's son Paolo runs Vista. As a child, Manuel helped his
mom sell seafood in a Manila market.

14. #1468 RAMON ANG $1.4B
SAN MIGUEL CORPORATION
 Consummate car collector Ramon Ang runs conglomerate
San Miguel.
 Originally a brewer, San Miguel is market leader in food
and beverages but the bulk of its revenues stems from
power, fuel, oil and infrastructure businesses.
 Ang's privately held Eagle Cement boasted 30% margins in
2015.
 He also owns a hotel and 100 acres of prime real estate.
 Ang got his start fixing up and selling used Japanese car
and truck engines before partnering with Eduardo
Cojuangco's son to sell aluminum wheels.

15. #1678 EDUARDO COJUANGCO $1.2B
SAN MIGUEL CORPORATION
 Politician-diplomat-businessman and Marcos era
crony, "Danding" chairs powerful food-to-
infrastructure conglomerate San Miguel.
 Protégé Ramon Ang bought his stake in 2012
and now controls operations.
 He also owns a private cement-manufacturing
business and is invested in orchards, stud farms
and wineries in Australia.

16. #1795 ROBERTO ONGPIN $1.1B
ALPHALAND CORP.
 Roberto Ongpin, the chairman of property developer of
Alphaland and former Philippine trade minister, has been
embroiled in controversy.
 The Philippine Securities and Exchange Commission
accused Ongpin of insider trading in connection with the
2009 sale of Philex Mining shares. Ongpin denied the
charges. The Court of Appeals effectively issued a hold on
a July 2016 SEC ruling requiring him to pay a fine and
disqualifying him from serving as officer or director of a
corporation.
 Ongpin resigned as head of gaming firm PhilWeb Corp. in
2016 after being among the oligarchs singled out by
President Rodrigo Duterte as "embedded in government."

17. #1940 EDGAR SIA $1B
DOUBLEDRAGON PROPERTIES
 With partner Tony Tan Caktiong, Edgar Sia II owns a
stake in DoubleDragon Properties, the rapidly growing
real estate developer they took public in 2014.
 It has been developing commercial and residential
properties and reportedly plans to build 100 malls by
2020.
 In August of 2016 the company announced it was
acquiring a majority stake in Hotel of Asia Inc.
 An aspiring architect, Sia dropped out of college to start
Filipino fast-food label Mang Inasal.
 He sold a stake in it to Tan Caktiong in 2012.

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