Ultra-rich Pinoys boast $49-B assets

The richest Filipinos figured prominently in Forbes Magazine’s World Billionaires list, logging $49.2 billion in combined wealth despite worldwide inflation and global market uncertainties.

The exclusive world’s richest club continued to expand, with tycoon Manuel B. Villar being the sole Filipino to make it to the richest 200.

Forbes ranked Villar the 190th richest person globally this year, up from 232nd in 2023, after he grew his wealth to $11 billion from $8.6 billion.

Global port magnate Enrique K. Razon Jr. ranked 224th on the list, with his net worth soaring from $7.3 billion to $10 billion.

Ramon S. Ang of San Miguel Corp. followed closely behind, with his net worth increasing from $3.4 billion to $3.5 billion.

The Forbes list named the six Sy siblings, namely Hans, Henry Jr., Herbert, Harley, Teresita, and Elizabeth, the richest family in the country with a combined net worth of $14.4 billion.

The list included several notable individuals such as Lucio Tan, with a net worth of $2.5 billion; Andrew Tan, with $2 billion; Tony Tan Caktiong, with $1.4 billion; and Lucio and Susan Co, with a combined net worth of $2.3 billion.

Lance Gokongwei, who heads JG Summit, has a net worth of $1.1 billion, and William Belo has $1 billion.

Frenchman Arnault tops list

The Forbes World’s Billionaires list is based on stock prices and currency exchange rates as of 8 March.

This year’s list featured a record-breaking 2,781 billionaires, 141 more than last year and more than ever before, and 26 more than the previous record set in 2021.

French luxury goods titan Bernard Arnault is the top billionaire for the second year in a row, after his net worth grew by 10 percent to an estimated $233 billion, thanks to another record year at his conglomerate, LVMH.

Elon Musk remained in second place, with an estimated net worth of $195 billion, up 8 percent from last year but noticeably lower than his net worth in November 2021, when he became the first person worth $300 billion. The decline was primarily due to a fall in the value of Tesla shares.

“It’s been an amazing year for the world’s richest people, with more billionaires around the world than ever before,” said Chase Peterson-Withorn, Forbes senior editor on wealth.

“A record-breaking 14 centibillionaires have 12-figure fortunes. Even during financial uncertainty for many, the super-rich continue to thrive,” Peterson-Withorn said.

The world’s billionaires are richer than ever. Collectively, they are worth a record-breaking $14.2 trillion, up by $2 trillion from 2023 and $1.1 trillion above the previous record set in 2021.

The top 20, in particular, had a great year, adding a combined $700 billion in wealth over the past 12 months.

Newcomers

This year’s ranking features 265 newcomers, including fashion designer Christian Louboutin ($1.2 billion); NBA legend Magic Johnson ($1.2 billion); TV producer Dick Wolf ($1.2 billion); pop star Taylor Swift ($1.1 billion), who has toured and recorded her way to billionaire status; and OpenAI’s Sam Altman ($1 billion).

The United States still has more billionaires than any other country, now boasting a record 813 on the list worth a combined $5.7 trillion.

China remains second, with 473 (including Hong Kong) worth $1.7 trillion. India ranks third, with a record-breaking 200 billionaires worth $954 billion.

The $100 Billion Club has a record 14 people worldwide with 12-figure fortunes. This elite group is 255 percent richer than it was a decade ago and is now worth $2 trillion, meaning just 0.5 percent of the world’s 2,781 billionaires hold 14 percent of all billionaire wealth.

Forbes said 189 people fell off the list in 2024, including 129 from mainland China, where weak consumer spending and a real estate bust wiped out $200 billion in wealth.

An additional 32 billionaires died, including Egyptian tycoon Mohamed Al-Fayed, former Italian Prime Minister Silvio Berlusconi, former Chilean President Sebastián Piñera, and Margaritaville singer Jimmy Buffett.