Top 10 Richest Men In Philippines 2024 Filipino billionaires (Net Worth)

In recent years, the Philippines have experienced significant economic development, with an emphasis on developing industries such as technology and infrastructure. Consequently, the country has witnessed the emergence of new oligarchs and the expansion of existing ones.

These men amassed their fortunes through a multitude of industries, including real estate, ports, manufacturing, and retail. They are all significant contributors to the Philippine economy, and their success demonstrates the nation’s rising economic strength.

Their wealth consists primarily of stakes in the group’s publicly traded SM Investments and SM Prime, two of the country’s largest conglomerates with interests in retail, real estate, and finance, among others. The Sy siblings are among the increasing number of wealthy Filipinos who have contributed to the country’s economic development.

List Of Top 10 Richest Men In Philippines 2024

1. Manuel Villar -$9.7 Billion

Manuel Villar is the richest man in the Philippines as of 2024, with an estimated net worth of $9.7 billion. In the real estate industry, he amassed a fortune by founding Vista Land and Lifescapes, a prominent homebuilding company. The company has become one of the largest participants in the Philippine housing market, with over 20 brands in its portfolio, including Camella Homes, Brittany, and Crown Asia. In addition to real estate, Villar has interests in other industries, including retail, finance, and water infrastructure. As the chairman of Starmalls, the dominant Philippine shopping mall developer, he has strengthened his position in the retail industry. Villar’s participation in Philippine politics demonstrates his dedication to public service.

2. Enrique Razon Jr. -$8.2 Billion

Enrique Razon Jr., a well-known business magnate, has amassed a substantial net worth of $8.2 billion through shrewd investments and extensive knowledge of the transportation industry. He is the current chairman and chief executive officer of International Container Terminal Services (ICTSI), a globally renowned port management corporation with operations in multiple countries. ICTSI has established a standard for modern port administration by employing cutting-edge technology to optimise operations and enhance productivity. In addition to transportation, Razon has made substantial investments in the energy and gaming industries. As chairman of Bloomberry Resorts, he oversees the administration of the renowned Solaire Resort and Casino in Manila, the Philippines’ premier gaming destination. Razon’s business endeavours demonstrate his unwavering dedication to innovative and dynamic business practises.

3. Ramon Ang -$3.5 Billion

As of 2024, Ramon Ang is a notable Filipino billionaire with a net worth of roughly $3.5 billion. His success in multiple industries, including food and beverage, infrastructure, and automotive, contributed to his wealth. Ang is the current CEO and president of San Miguel Corporation (SMC), a massive Philippine conglomerate with diverse interests in electricity generation, food and beverage, and infrastructure. He is also the chairman of the prominent company Eagle Cement Corporation, which specialises in the production and distribution of cement. The impact of Ang’s business acumen and strategic vision on the trajectory of his ventures has made him a prominent figure in the Philippine business landscape.

4. Lucio Tan -$2.6 Billion

Lucio Tan is a prominent Filipino merchant and one of the country’s wealthiest individuals. He has achieved success in numerous fields, including aviation, tobacco, alcoholic beverages, real estate, finance, and hospitality. Tan is the chairman and chief executive officer of Philippine Airlines, the national flag carrier airline that operates both domestic and international operations. Additionally, he controls Philip Morris Philippines Manufacturing Inc., which manufactures some of the country’s most popular cigarette brands.

5. Henry Sy Jr. -$2.5 Billion

Henry Sy Jr., the firstborn son of the legendary business magnate Henry Sy Sr., has become an extremely successful entrepreneur in his own right. The Sy family’s business origins can be traced back to 1958, when Henry Sr. opened a shoe store called “Shoemart” that grew into the multinational corporation SM Group. Henry Jr. is presently co-vice chairman of SM Investments, the holding company of SM Group, and chairman of SM Prime, its property arm. Prior to this, he was the CEO and president of the National Grid Corporation of the Philippines, which was in charge of the nation’s power transmission network. Henry Jr. has proved himself to be a worthy successor to his father’s legacy, deftly navigating the family’s businesses and enduring competition from rivals such as Ayala, Megaworld, Robinsons, and Mercury Drug despite the challenges posed by the Covid-19 pandemic. His position as a prominent character in the Philippine business landscape has been secured by his visionary leadership and strategic decision-making.

6. Hans Sy -$2.5 Billion

Hans Sy, the fourth child of the late Henry Sy Sr., is a highly successful businessman who presently holds a number of important positions at different companies. He is the chairman of the executive committee at SM Prime, the property branch of the Sy family, and the chairman of China Banking Corporation. Hans is also involved in real estate, mall operations, leisure, and tourism-related businesses. In addition to his business endeavours, he is widely recognised for his advocacy for environmental sustainability and disaster resilience. Hans is a passionate advocate for the adoption of disaster risk reduction and management practises among businesses. He is the first Filipino to serve on the Board of Trustees of the United Nations International Strategy for Disaster Reduction Private Sector Alliance for Disaster Resilient Societies. His advocacy efforts have garnered him recognition and a number of awards, establishing him as a highly regarded member of the Philippine business and environmental communities.

7. Herbert Sy -$2.5 Billion

Herbert Sy, the fifth sibling of the Sy family, occupies key positions in several SM Group companies. He is a consultant for SM Investments, the holding company of the group, and a director of SM Prime, which is in charge of the group’s real estate and property development enterprises. In addition to these responsibilities, he serves as chairman of a number of retail sector enterprises, including Supervalue, Super Shopping Market, and Sanford Marketing. The SM Group’s popular supermarket, hypermarket, and grocery store brands, such as SM Supermarket, SM Hypermarket, and Savemore, are powered by these entities.

8. Andrew Tan -$2.4 Billion

Andrew Tan is a prominent Filipino businessman who has amassed wealth in multiple industries. He is the founder and chairman of Alliance Global Group (AGI), a prominent holding corporation with diverse real estate, food and beverage, and gaming interests. Under the aegis of Megaworld Corporation, Tan has led numerous large-scale real estate projects, including Eastwood City and Newport City, which are renowned for their exceptional residential and commercial properties as well as their world-class casinos. In addition to real estate, Tan has made substantial investments in the food and beverage industry. As chairman of Emperador Inc., he supervises the production of premium brandy, making the company one of the world’s largest brandy producers. Tan’s visionary leadership has been instrumental in the expansion of his businesses, establishing him as a respected figure in the Philippine business community.

9. Harley Sy -$2.3 Billion

Harley Sy, the sixth child of Henry Sy Sr., has a net worth of $2.3 billion and is a Filipino billionaire. Director of SM Investments Corporation (SMIC), a conglomerate with interests in retail, real estate, and finance, among others. As a member of the SMIC board, Harley Sy participates in the company’s strategic direction and decision-making. He plays a vital role in driving SMIC’s expansion plans and supervising the company’s numerous subsidiaries.

10. Teresita Sy-Coson -$2.3 Billion

Teresita Sy-CosonTeresita Sy-Coson is a prominent businesswoman in the Philippines. She is the firstborn of the Sy children and the first daughter of Henry Sy Sr. She is the co-chairman of SM Investments Corporation (SMIC), the largest conglomerate in the country, with interests in retail, real estate, and finance, among others. After completing her undergraduate education, her father dissuaded her from pursuing graduate school and invited her to work for him instead. She began her career in the family business by overseeing Shoemart’s bank, which evolved into BDO Unibank, one of the largest institutions in the Philippines.