Manny Villar still Philippines' richest, most billionaires see drop in wealth

MANILA, Philippines – Property tycoon Manny Villar is still the Philippines' richest, according to the 2020 billionaires list released by Forbes on Tuesday, April 7.

Forbes estimated Villar's net worth at $5.6 billion, slightly higher than the $5.5 billion last year. Villar ranked 286th in the world.

The 70-year-old Villar, who once aspired to be the country's president, is currently the chairman of Starmalls and Vista Land & Lifescapes. He also owns Golden Bria, a housing and condominium developer. (READ: Entrepreneur Manny Villar: 'I don't like politics anymore')

Ports and gaming tycoon Enrique Razon Jr came in 2nd place with a net worth of $3.4 billion.

Razon takes the slot of John Gokongwei Jr, who died in November 2019.

Here are the Filipinos with a net worth of at least $1 billion, according to Forbes:

Only Villar and Roberto Ongpin saw increases in net worth, while the rest decreased. Ongpin's net worth slightly increased to $1.7 billion from $1.1 billion a year ago.

The so-called "Sy-blings" of mall and properties giant SM have a combined net worth of $11.2 billion, lower than the $13.3 billion a year ago.

Lucio Tan's net worth decreased by 61% to $1.7 billion from an estimated $4.4 billion in 2019. (READ: Lucio Tan's millennial grandson rises to power)

Jollibee's Tony Tan Caktiong and his family's net worth decreased by over 56% from $3.9 billion to $1.7 billion.

Amazon chief executive officer Jeff Bezos is the world's richest for the 3rd straight year, with an estimated net worth of $113 billion.

Microsoft's Bill Gates ($98 billion), Louis Vuitton's Bernard Arnault ($76 billion), business magnate Warren Buffett ($67.5 billion), and Oracle's Larry Ellison ($59 billion) round up the top 5 billionaires.

Forbes said there are 2,095 billionaires on the 2020 list, down from 2,153 in 2019.

The total combined net worth of this year's billionaires is $8 trillion, down from $8.7 trillion in 2019, which is "reflective of the turbulent markets and the coronavirus pandemic." – Rappler.com

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.

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