Ultra bilyonaryos gave up a big chunk of their fortunes after the Philippine Stock Exchange Index got pummeled to near its 52-week low.
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Based on Forbes real-time ranking of the world’s billionaires, 15 Filipinos made the cut-off last month with two dropping out of the charts – Converge chairman Dennis Anthony Uy and Top Frontier Investment Holdings chairman Iñigo Zobel.
Majority of the 12 wealthiest Pinoys suffered a combined $4.1 billion loss in June. The PSE plummeted 609 points or nine percent to 6,165.
Ports, casino and infrastructure tycoon Ricky Razon gave up $900 million of his wealth to $5.5 billion in June.
Razon’s International Container Terminal Services Inc. dropped 15.2 percent month on month to P184 in June due to the global port congestion and rising cost of cargo. His other stocks also lost roughly nine percent – Manila Water Corp. down to P16.72, , Bloomberry Resorts down to P5.81, and Apex Mining down to P1.46.
Property tycoon Manny Villar gave up $500 million to $7.8 billion with his shares dropping like flies – Vista Land & Lifescapes down 16 percent to P1.98 and AllDay Marts down by 21 percent to 32.5 centavos.
Condo and liquor king Andrew Tan also stumbled with $400 million gone in smoke in June. His Alliance Global Group and Megaworld lost 18 percent to P8.80 and P2.16, respectively.
The Sy heirs chopped off a combined $1.6 billion in June with SM Investments Corp. off by 10 percent to P770 and BDO Unibank off by 17 percent to P110.50.
This is how the ultra bilyonaryos on Forbes’ list performed in June 2022:
1) Manny Villar $7.8 billion down 6%
2) Enrique K. Razon $5.5 billion down 14%
3) Henry Sy Jr. $2.5 billion down 11%
4) Hans Sy $2.2 billion down 12%
5) Herbert Sy $2.2 billion down 12%
6) Andrew Tan $2.1 billion down 16%
7) Harley Sy $2.1 billion down 9%
8) Tessie Sy-Coson $2 billion down 13%
9) Lucio Tan $2 billion up 100%
10) Ramon S. Ang $1.9 unchanged
11) Elizabeth Sy $1.8 billion down 10%
12) Lance Gokongwei $1.3 billion down 13%
13) Tony Tan Caktiong $1.1 billion unchanged
14) Betty Ang $1 billion down 17%
15) Maria Grace Uy $1 billion down 23%