The Philippines has been considered “the sick man” of Asia for the slow economic growth and massive poverty. However, change is coming for the republic.
Controversies, rumors, conspiracy theories and politics aside, the richest filipinos of the country continue to grow and provide jobs for the masses. Their success has contributed to the progress of the Philippines and its economy.
Who are these top 10 power houses helping to drive the economy?
Henry Sy & family – SM Prime Holdings
SM Mall and properties, 11% of San Miguel,
Banco de Oro and owner of Chinabank
Highlands Prime, INC.
Lucio Tan & family own Asia Brewery, Allied Bank, Grandspan Development Corporation, Tanduay Holdings, one of the world’s largest rum makers, Fortune Tobacco and emerged with several other businesses .
Andrew Tan runs Alliance Global Group Inc. with 3 companies under it: MegaWorld real estate corporation, Emperador Distillers Incorporation, Golden Arches Development Corporation (McDonalds Franchise)
Enrique Razon, Jr. inherited International Container Terminal Services, Inc(ICTSI) and Bloombery Investments Holdings, Inc. Bloombery is one of the 4 companies granted a casino license by PAGCOR. (Philippine Amusement and Gaming Corporation)
John Gokongwei, Jr. MBA ,Chairman at Gokongwei Brothers Foundation, Inc. Board of director of Manila Electric Co. United Industrial Corp. Ltd. (Singapore), Singapore Land Ltd., Cebu Air, Inc., Oriental Petroleum & Minerals Corp., JG Summit Petrochemical Corp., Digital Telecommunications Philippines, Inc., Universal Robina Sugar Milling Corp., Robinsons Corp. and Robinsons Savings Bank.
Jaime Zobel de Ayala & family – Ayala Corp., Bank of the Philippine Islands, Manila Water Co., Inc., Ayala Land, Inc.,Makati Business Club and several other businesses in Asia.
Aboitiz Power Corp., Aboitiz Equity Ventures,
Union Bank of the Philippines, Pilmico Foods Corp, Weather Philippines Foundation, Philippine Disaster Recovery Foundation, Visayan Electric Co., Inc., Southern Philippines Power Corp. and other Power Corporation in the Philippines.
Board of Directors at Atlantic, Gulf & Pacific Co. of Manila, Inc., Chairman of Semirara Mining Corp. and many other Power Corporation.
|9||George Ty & familyMetrobank- second largest bank in the PhilippinesOwns shares in Toyota Motor PhilippinesPhilippine AXA Life Insurance||$2,600 M||81|
|10||Lucio and Susan CoPuregold Price Club- Philippines second largest retailer after SM. Over 150 hypermarkets and supermarkets aiming for low-middle class consumers and micro entrepreneurs.||$1,900 M||59|
reference: forbes.com , wikipedia.org