Manuel B. Villar Jr., once a politician and now a leading property tycoon, again claimed the title of the Philippines’ richest person, according to the latest rankings from Forbes magazine. With an estimated net worth of USD17.2 billion, Villar has more than tripled his fortune since 2020, when his wealth was valued at just USD5.6 billion. The growth, primarily fueled by his investments in property development and retail, places him 117th on Forbes World’s Billionaires list, solidifying his position as a major player on the global financial stage.
Villar’s return to the top spot is part of a larger trend that sees the Philippines among the countries with the most billionaires. He is followed by prominent business figures like port and casino mogul Enrique K. Razon Jr., ranked 227th with a net worth of USD10.9 billion, and San Miguel Corp. chairman Ramon S. Ang, who stands at 979th with USD3.7 billion.
Also making significant strides are the Sy siblings, heirs to the late Henry Sy Sr.’s retail and banking empire. The family’s collective wealth is a testament to the dominance of the retail sector in the Philippines, with Henry Sy Jr. leading the charge at 1,573rd on the list with USD2.3 billion. His siblings Hans, Herbert, Harley, Teresita, and Elizabeth also secure prominent spots, collectively contributing to the country’s impressive billionaire tally.
Other notable figures on the list include Lucio Tan, a veteran in banking, airline, and tobacco industries, with a net worth of USD3 billion; property and gambling magnate Andrew Tan with USD1.4 billion; and businessman Lucio Co, who runs Puregold grocery stores, with USD1.4 billion. The list also welcomes new entrants like Eusebio Tanco, chairman of DigiPlus Interactive and STI Education Systems, who enters the rankings at 2,623rd with USD1.2 billion.
Globally, the Forbes list has expanded with a record 3,028 billionaires, up from 2,781 in 2024. The global wealth surge is underscored by the astounding USD16.1 trillion total net worth of this elite group—more than the combined GDP of all countries besides the U.S. and China. This year’s list is once again topped by Elon Musk, whose fortune has swelled to an eye-popping USD342 billion, bolstered by his ventures in SpaceX, xAI, and Tesla.
For the Philippines, the growing number of billionaires highlights the increasing economic power of its business elite, with key sectors like property development, retail, and manufacturing continuing to drive national wealth. While the rise of these tycoons reflects personal success, it also signals the continued vibrancy of the Philippine economy, as these billionaires’ fortunes expand on the global stage.
As these Filipino billionaires continue to shape the nation’s financial landscape, their influence may only grow in the years to come. With their wealth and investments playing a crucial role in the Philippines’ economic development, the country is steadily positioning itself among the world’s most influential markets.
