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Consunji joins list of 10 richest Pinoys

Construction magnate David Consunji finally made it to Forbes’ magazine’s list of the 10 wealthiest Filipinos that did not include the families of Jaime Zobel de Ayala and Eduardo “Danding” Cojuangco. The 91-year-old Consunji is joined by Top 10 first-timers Lucio and Susan Co the retailing giant Puregold and stock broker Robert Coyiuto Jr. Shopping mall tycoon Henry Sy and family remained on top of the list with a net worth of $13.2 billion as of March 2013, followed by tobacco and liquor magnate Lucio Tan and family with a net worth of S5 billion. Port operator Enrique Razon Jr. was the third richest Filipino with a net worth of $4.9 billion, followed by real estate tycoon Andrew Tan with $3.95 billion. Consunji was at fourth with a net worth of $2.8 billion while George Ty and his family, estimated to be worth $2.6 billion, was at the fifth place. At sixth place were the Co couple with their net worth climbed to $2 billion while Coyiuto, estimated to be worth $1.6 billion, is at seventh. Fastfood mogul Tony Tan Caktiong, founder of the popular Jollibee chain, was at eighth with his net worth of $1.4 billion while real estate tycoon Andrew Gotianun and his family, with a net worth of $1.2 billion, was at ninth. Tying with Gotianun’s net worth of $1.2 billion was former finance minister Roberto Ongpin, who was at 10th place. The Ayala family was not in the Top 10 although they were the seventh richest Filipinos in 2012 with an estimated net worth of $2.2 billion. Also dropping out of the list was Cojuangco, the 10th richest Filipino in 2012 with a net worth of $1.4 billion, after he sold his stake in San Miguel Corp. to businessman Ramon Ang. The 88-year-old Sy saw his fortune swell by more than $5 billion as shares of his holding firm SM Investments surged by over 50%, fuelled by reports that it may merge its property units. SM Prime, which he controls and is run by son Hans, is the Philippines largest mall developer and opened a fifth mall in China in December. Banco de Oro Unibank, run by his daughter Teresita Sy-Coson, is the country’s largest bank. The 78-year-old Lucio Tan consolidated many of his private holdings, including Asia Brewery, and his stake in Philip Morris-Fortune Tobacco, which has an estimated 80% market share of the country’s cigarette market. Port operator Razon, 53, controls the listed International Container Terminal Services Inc. and the listed Bloomberry Resorts, which will operated the Solaire Resort & Casino in Pasay City’s Entertainment City.
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