Chinese-Filipino business magnate Henry Sy remains to be the country’s richest individual, according to Forbes Philippines’ 2015 list.
For the eight consecutive year, the 90-year-old shopping mall mogul has managed to secure the top spot with his net worth amounting to $14.4 billion, as compared to last year’s $12.7 billion after his publicly traded conglomerates increased its value over the year – SM Investments by 17% and SM Prime Holdings by 20%.
He was followed by John Gokongwei, Jr., who climbed from the fifth to the second spot this year, with $5.5 billion. Alliance Global Group Inc.’s Andrew Tan came in third with $4.5 billion, which was $1.4 billion shy from his 2014 net worth.
Sy also ranked as the 73rd wealthiest man in the world.
(Main Image: Henry Sy, chairman and founder of SM Investments Corp., speaks during an interview in Makati, the Philippines, on Saturday, July 18, 2009. Photo by Nana Buxani/Bloomberg via Getty Images)