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MANILA, Philippines
— Six businessmen from the Philippines led by Henry Sy made it to Forbes Magazine’s list of the wealthiest people on earth. Sy ranked 116th or the highest among local tycoons with an estimated net worth of $8 billion.
The 87-year-old Sy heads SM Investments, the dominant player in Philippine banking, retailing, shopping mall.
Lucio Tan of Philippine Airlines ranked 314th on the global list with an estimated net worth of $3.5 billion.
Property mogul Andrew Tan ranked 601st with an estimated net worth of $2.1 billion. Tan (not related to Lucio), 59, built a fortune out of real estate development and the gaming industry.
Enrique Razon Jr., 52, is the fourth from the Philippines with an international rank of 683rd. Forbes estimated his net worth at $1.9 billion. Razon has built a fortune in international port operations.
San Miguel Corp. chairman Eduardo “Danding” Cojuangco, is the fifth Filipino on the list with a global rank of 960th. The 76-year-old has an estimated net worth of $1.3 billion.
Former Trade Minister Roberto V. Ongpin, 75, ranked 1,153rd on the global list with an estimated net worth of $1 billion. Ongpin is into real estate, mining and recently ventured into banking. It is interesting to note that except for Razon, all the other five have Chinese family names.
At the top of Forbes’ list is 72-year-old Mexican billionaire Carlos Slim Helu with an estimated net worth of $69 billion. Microsoft founder Bill Gates, 56, is second with an estimated net worth of $61 billion. Australia’s Gina Rinehart ranks 29th with $18 billion.
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