RP's Wealthiest Men

Forbes Asia 2008 Philippine Rich List has named the 83-year old mall mogul, Henry Sy as the country's wealthiest man. Sy has an estimated net worth of $3.1 billion, up by $1.4 billion from last year, the biggest gain on the list by absolute terms. Sy and his family control SM investments, which owns stakes in a dozen of compnaies including the nation's second largest bank. Banco de Oro Unibank.

1. HENRY SY & FAMILY

US$3.1 BILLION

Aging entrepreneur, who is often seen wearing Hawaiian shirts, remains chairman but is largely handing over daily operations to his six kids.

2. LUCIO TAN & FAMILY

$1.5 BILLION

3. JAIME ZOBEL DE AYALA & FAMILY
$1.2 BILLION

4. ANDREW TAN & FAMILY

$700 MILLION

5. TONY TAN CAKTIONG & FAMILY
$690 MILLION

6. JOHN GOKONGWEI & FAMILY

$680 MILLION

7. EDUARDO COJUANGCO & FAMILY

$610 MILLION

8. ENRIQUE RAZON & FAMILY

$525 MILLION

9. GEORGE TY & FAMILY
$435 MILLION

10. INIGO & MERCEDES ZOBEL & FAMILY

$430 MILLION




Forbes Asia Calculated net worths using October 3 stock prices and exchange rates to compile the list. Public wealth was estimated using shareholder and financial information while privately held assets were estimated based on what they would be worth if public.