07/08/2026
PHILIPPINES' RICHEST LOSE $7B AS ECONOMY SLOWS
The combined wealth of the Philippines’ 50 richest tycoons fell 8% to $79 billion from $86 billion a year ago, according to the 2026 Forbes Asia Philippines’ 50 Richest list, as slower economic growth, higher inflation and a weaker peso weighed on fortunes.
Forbes Asia said the economy expanded just 2.8% in the first quarter—the weakest quarterly growth since the pandemic—while the energy shock from the Iran conflict added to inflationary pressures, leaving only 14 listees richer than a year earlier.
Ports-to-casino tycoon Enrique K. Razon Jr. topped the ranking for the first time with a record net worth of $21.8 billion after adding $10.3 billion to his fortune, buoyed by the global expansion of International Container Terminal Services Inc., while the Sy siblings slipped to second with $9.2 billion as weaker property markets dragged down SM Prime Holdings.
Property magnate Manuel B. Villar Jr. posted the biggest dollar decline, with his fortune plunging by $8.6 billion to $2.4 billion following a sharp markdown in Villar Land Holdings’ property values and the suspension of its shares, while insurance tycoon Robert Coyiuto Jr. recorded the largest percentage gain after more than doubling his wealth to $925 million.