Forbes World's Billionaires 2016 List: 11 Richest Filipinos named | The Summit Express

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Forbes World's Billionaires 2016 List: 11 Richest Filipinos named


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MANILA, Philippines - Forbes magazine on its 30th Annual Issue named the world's billionaires with SM Investments Corp.'s founder, chair, and CEO Henry Sy Sr. topped the list of richest Filipinos.

Forbes 2016 List: 11 Richest Filipinos named
Eleven FIlipinos included in the 2016 world billionaires list of Forbes Magazine. Forbes.com

Sy, 91, who led the 11 returning Filipinos in the billionaires list this year jumped from rank 73 to 71. His net worth dropped from $14.8 billion last year to only $12.9 billion this year.

JG Summit Holdings' John Gokongwei Jr. ranked second for the Philippines and no. 270 in the world with $ 5 billion wealth.

On the third spot and 380th worldwide this year is Philippine Airlines and Asia Brewery's Lucio Tan with $4 billion.

There's only one female on the list, Susan Co, and she shares the slot with her husband Lucio.

Note that 9 out of 11 are of Chinese blood and identified as self-made, citing hard work and determination as their initial capital.

Here's the full list of richest Filipinos who made it to the 2016 Forbes World’s Richest People Club:

richest Filipinos who made it to the 2016 Forbes World’s Richest People Club

The richest Filipinos on the list have a combined wealth of $41.50 billion or P1,961.27 trillion—a trillion short of the Philippine government’s P3.002 trillion national budget for 2016.

Bill Gates was once again on top as the world’s richest person (ahead of 1,809 billionaires) with a current net worth of $75 billion, down from $79.2 billion in 2015.

The biggest gainer on the 2016 list is Mark Zuckerburg (No. 6), whose fortune is up $11.2 billion for a total net worth of $44.6 billion. He is the sixth richest in the world.

The U.S. led with the greatest number of billionaires, with 540, followed by China with 251, Germany with 120, India with 84 and Russia with 77.

The FORBES Billionaires list is a snapshot of wealth taken on Feb 12, 2016, when stock prices and exchange rates were locked in from around the world. It lists individuals rather than multigenerational families who share large fortunes.

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