MANILA, Philippines — The Sy siblings retained their title as the Philippines’ richest, topping the 2025 Forbes list of the country’s 50 wealthiest with a combined net worth of $11.8 billion, despite a $1.2 billion dip, the largest dollar decline on the list.
The collective wealth of the country’s top tycoons rose more than 6 percent to $86 billion, up from $80.8 billion last year, Forbes reported on Thursday.
The uptick comes amid a 5.4 percent economic growth in the first quarter, fueled by domestic demand and rising infrastructure investments.
Ports and gaming magnate Enrique Razon Jr. held on to the no. 2 spot with $11.5 billion, as his firm International Container Terminal Services Inc. posted a strong 2024 net profit and eyes global expansion. Property tycoon Manuel Villar followed with $11 billion, as he pushes forward with a decades-long plan to develop Villar City through his newly rebranded Villar Land Holdings.
Rounding out the top five were San Miguel Corp. Chairman and CEO Ramon Ang at $3.75 billion and Isidro Consunji & siblings of DMCI Holdings with $3.7 billion.
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The biggest percentage gainer was broadband couple Dennis Anthony and Maria Grace Uy of Converge ICT, whose wealth surged 74 percent to $1.6 billion, fueled by continued internet demand.
Meanwhile, home improvement mogul William Belo of Wilcon Depot saw his fortune plunge over 40 percent to $520 million, the steepest percentage decline, after the company’s stock hit an eight-year low in April.
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The Que Azcona family debuted at No. 6 with $3.6 billion following the passing of Mercury Drug President Vivian Que Azcona in April.
The cutoff to enter the elite list rose to $185 million, up from $170 million in 2024.
