The 89-year-old Henry Sy has a net worth of $11.4 billion, ranking 97th on the global billionaire list, and is the only billionaire in the Philippines to enter the global top 100 this time.
His net worth last year was $13.2 billion, ranking 68th globally.
The second richest person in the Philippines is Lucio Tan, who made his fortune in the tobacco industry, with a net worth of $6.1 billion, ranking 227th globally; the third is real estate tycoon Andrew Tan, with a net worth of $4.1 billion, ranking 319th globally.
The other individuals in the top 10 richest in the Philippines are, in order: Enrique Razon Jr., with a net worth of $4.2 billion; John Gokongwei, with a net worth of $3.9 billion; David Consunji, with a net worth of $3.3 billion; George Ty, with a net worth of $2.3 billion; Tony Tan Caktiong, with a net worth of $1.7 billion; Lucio Co, with a net worth of $1.5 billion; and Andrew Gotianun, with a net worth of $1.0 billion.
Henry Sy is known as the "King of Malls" in the Philippines. He started with a single shoe store in his early years, and now, in addition to owning 43 shopping malls, his business interests extend to the banking and real estate sectors.
Lucio Tan, 79, has expanded his business empire from tobacco to brewing, airlines, real estate, and banking; Andrew Tan operates businesses in real estate, alcoholic beverages, and fast food.
Tony Tan Caktiong started with an ice cream stall, which later developed into the fast-food chain "Jollibee," known as the only fast-food chain in the world to defeat McDonald's in its home country.
Forbes data shows that Henry Sy, Lucio Tan, Andrew Tan, David Consunji, Tony Tan Caktiong, and Andrew Gotianun are self-made, while the other 4 inherited and developed their wealth.
