Enrique Razon Jr. Tops Forbes Philippines Richest List

Manila, Philippines — Ports and casino magnate Enrique Razon Jr. has ascended to the top spot of Forbes' 2026 list of the Philippines' 50 Richest, marking his first time at the pinnacle with a record net worth of $21.8 billion. He had been ranked second last year with $11.5 billion. Razon chairs prominent listed companies including International Container Terminal Services Inc. (ICTSI), Manila Water Co., and Solaire casino operator Bloomberry Resorts. Sliding to the second position this year are the Sy siblings, heirs to the SM group empire built by the late Henry Sy Sr. Their fortune stands at $9.2 billion, a decrease from last year's $11.8 billion. Tycoon Ramon Ang of San Miguel Corp. secured the third spot with a net worth of $3.5 billion, slightly down from $3.75 billion last year when he was fourth. The fourth and fifth positions are occupied by the husband-and-wife tandem of Lucio and Susan Co of Puregold with $3.3 billion, and Isidro Consunji and siblings of the diversified engineering conglomerate DMCI Holdings with $3 billion. Taipan Lucio Tan, chairman of the LT Group, ranks sixth with a net worth of $2.9 billion. The Jaime Zobel de Ayala and family retained their seventh position with $2.8 billion, followed by the Que Azcona family of Mercury Drug at eighth with $2.5 billion. Rounding out the top 10 are real estate magnate Manuel Villar Jr. with $2.4 billion and the Ty siblings with $2.3 billion. Forbes noted that Robert Coyiuto Jr. was the biggest gainer in percentage terms this year, more than doubling his fortune to $925 million, propelling him to 17th place. This surge was attributed to favorable regulatory changes impacting his key holding, Synergy Grid & Development Philippines, the controlling shareholder of National Grid Corp. of the Philippines. Among the notable returnees is Jose Ma. Concepcion III, president and CEO of food and beverage company RFM, who ranked 49th with $200 million. Overall, the report indicates that the fortunes of 33 individuals on the list are lower compared to a year ago, with only 14 seeing an increase. "The energy shock from the Iran conflict took its toll, stoking inflation while the peso fell. As a result, the collective wealth of the country’s 50 richest tycoons dropped to $79 billion from $86 billion last year," Forbes stated. The Forbes list compiled shareholding and financial information from families, individuals, stock exchanges, analysts, and other sources. Net worth figures are based on stock prices and exchange rates as of the close of markets on July 17. Unlike its billionaire rankings, Forbes' list of the Philippines' 50 Richest includes family fortunes, encompassing wealth shared among extended families.