For the seventh year in a row, Henry Sy was named as the richest Filipino with an estimated net worth of $12.7 billion, more than double of what runner-up Lucio Tan is worth at $6.7 billion.
Sy is recognized as the founder of the country’s largest mall operator in the Philippines but in the casino scene, he is the patriarch of the family that controls Premium Leisure and Amusement Corp, the same company that’s part of a consortium with Melco Crown (Philippines) Resorts Corp., a subsidiary of Melco Crown Entertainment that owns City of Dreams Manila.
Coming in at third place with an estimated net worth of $5.2 billion is port magnate Enrique Razon Jr. Razon is the chairman of Bloomberry Resorts Corp, which owns Solaire Resort & Casino. Razon’s venture into the casino industry pays off handsomely after Bloomberry reported a dramatic rise in revenue in the second quarter of 2014. That played a big part in the spike in Razon’s net worth from $4.5 billion last year to $5.2 billion this year.
Just a shade under Razon is Andrew Tan, chairman and CEO of Alliance Global Group Inc., with an estimated net worth of $5.1 billion. Tan’s Alliance Global company is a joint investor with Genting Hong Kong in Resorts World Manila as well as Resorts World Bayshore, which will open in 2016.
Coming in at fifth is John Gokonwei with an estimated net worth of $4.9 billion. Gokongwei was once linked to Kazuo Okada’s Manila Bay Resorts project.
The only man in the top 5 of richest Filipinos without any casino ties is Lucio Tan. Then again, if you’re net worth is estimated at $6.1 billion, you’re probably doing something right to begin with.
source : www.calvinayre.com
