The combined wealth of tycoons on the 2026 Forbes Asia Philippines’ 50 Richest list fell 8% to $79 billion from $86 billion a year earlier, according to the 2026 Forbes Asia Philippines’ 50 Richest list.
Only 14 listees were better-off from a year ago, Forbes Asia said in a news release on Thursday.
Forbes Asia attributed the decline in combined wealth to slower economic growth after the Philippine economy expanded 2.8% in the first quarter, its lowest quarterly growth rate since the pandemic, as well as an energy shock from the Iran conflict that stoked inflation and weakened the peso.
Ports businessman Enrique K. Razon, Jr. topped the annual ranking for the first time with a record net worth of $21.8 billion after adding $10.3 billion to his fortune.
The global expansion of International Container Terminal Services, Inc. boosted the listed port operator’s share price, helping increase Mr. Razon’s wealth despite geopolitical tensions, Forbes Asia said.
The Sy siblings, heirs to the SM group built by the late retail tycoon Henry Sy, Sr., slipped to second place after their combined fortune fell by $2.6 billion to $9.2 billion as shares of SM Prime Holdings, Inc. declined 18% from a year earlier amid a weak residential property market.
San Miguel Corp. Chairman and Chief Executive Officer Ramon S. Ang climbed one spot to third despite a slight decline in his net worth to $3.5 billion as investor concerns over the conglomerate’s debt load triggered a nearly 10% decline in the company’s share price, Forbes Asia said.
Puregold Price Club, Inc. co-founders Lucio and Susan Co entered the top five for the first time with a shared fortune of $3.3 billion, ranking fourth on the list.
Isidro A. Consunji and siblings of DMCI Holdings, Inc. completed the top five with a fortune of $3 billion, down from $3.7 billion a year earlier.
Meanwhile, property businessman Manuel B. Villar, Jr., who ranked third last year, dropped to ninth spot after his wealth plunged by $8.6 billion to $2.4 billion.
Businessman Robert Coyiuto, Jr. posted the biggest percentage gain after more than doubling his fortune to $925 million as shares of Synergy Grid & Development Phils., Inc., the controlling shareholder of the country’s sole high-voltage power transmission operator, rallied on favorable regulatory changes, Forbes Asia said.
The minimum net worth required to make this year’s list remained unchanged at $185 million.
The rankings were compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts, and other sources, with net worths based on stock prices and exchange rates as of the close of markets on July 17, Forbes Asia said. — Alexandria Grace C. Magno
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