Over a dozen Filipino billionaires saw their fortunes grow this year, joining the rest of of the world’s richest in accumulating more wealth as coronavirus pandemic is pummeling the global economy.
For the third year, former senator Manuel Villar, who built a retail and property empire, topped Forbes’ list of richest Filipinos after his net worth grew to 7.2 billion dollars.
Globally, Villar, 71, ranked 352nd out of 2,755 on the list that exploded 30% compared to last year, with a record high 493 newcomers joining the world billionaires club. Altogether they are worth 13 trillion dollars, Forbes said, up from 8 trillion dollars last year.
Ports and casino tycoon Enrique Razon Jr. was the second wealthiest person in the country with a net worth of 5 billion dollars.
Taking third was Lucio Tan, whose fortunes ballooned to 3.3 billion dollars despite his loss-making Philippine Airlines as the pandemic continues to show no mercy on the aviation industry.