Money & Power

14 Filipinos Make It to the 2017 Forbes Billionaires List

The highest number of Filipinos on the global wealth list.
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Led by Henry Sy Sr., John Gokongwei Jr., and Lucio Tan, a record number of Filipinos—14 in all—made it to the 2017 Forbes World's Billionaires List, according to a new ranking released by the U.S. business magazine Monday evening. That is the highest number of Filipinos on the global wealth list.

They form part of the record 2,043 billionaires in Forbes' 31st annual ranking of the world's billionaires as featured in the March 28, 2017 issue of the magazine. “Booming stock markets, higher commodities prices and plain old-fashioned entrepreneurship helped make this a record year in terms of wealth creation around the globe,” said Luisa Kroll and Kerry Dolan, assistant managing editors of wealth at Forbes Media in a statement.

There were 11 Filipinos on the list last year, 10 of whom are still part of the list this year. The only Philippine tycoon who didn't make it to the list is Puregold group chairman Lucio Co and his wife Susan. New names include Ramon Ang, Eduardo Cojuangco Jr., Roberto Ongpin, and Edgar "Injap" Sia II.

The combined net worth of the 14 Filipino billionaires is $45.8 billion, which is higher than the aggregate fortune of $41.5 billion of the 11 Filipinos on the list last year. On average, the net worth of each billionaire on the list fell from $3.8 billlion to $3.3 billion, the lowest since 2013.

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Globally, Bill Gates remains on the top spot for the fourth year in a row and has been the richest person in the world for 18 out of the past 23 years, according to Forbes. Warren Buffett reclaimed the second slot. In third place is Amazon’s Jeff Bezos, who is included for the first time in the top three. Spanish clothing retailer Amancio Ortega of the Zara fashion group dropped to fourth while Facebook’s Mark Zuckerberg is fifth.

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This story originally appeared on Entrepreneur.com.ph.
* Minor edits have been made by the Townandcountry.ph editors.

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