The combined net worth of the 50 super-rich Filipinos took a massive hit from last year due to a stock market slump and a wobbly.
Based on the latest ranking of Forbes, more than two-thirds of the 50 richest Filipinos shed a lot of money over the last 11 months with the top five biggest losers losing a combined $7.2 billion.
While the heirs of the late taipan Henry Sy Jr. are still No.1 on Forbes’ list for the fourth straight year, they are also the biggest losers among their peers.
The net worth of the Sy siblings – Tessie, , Elizabeth, Big Boy, Hans, Herbert and Harley – plummeted 24 percent or $4 billion to $12.6 billion, their lowest since the family entered the rankings in 2019 ($17.2 billion).
The Converge ICT couple, Dennis Anthony and Maria Grace Uy, tumbled seven places to 13th after their fortune shrank 37 percent or $1.05 billion due to a steep price drop in their stocks.
Ultra bilyonaryo Lance Gokongwei and his siblings – & siblings Robina, Lisa, Faith, Hope and Marcia – suffered a 22.5 percent or $900 million drop in their net worth to $3.1 billion.
The 88-year old Jaime Zobel de Ayala and his family, led by Jaime Augusto and Fernando, lost 23 percent or $750 million of their riches to $2.55 billion.
The fifth biggest loser Vivian Que Azcona and her siblings, owner of Mercury Drug and Tropical Hut, slipped five places to No. 18 after their assets shrank 33 percent of $55 million.
The other top losers are:
* Monde Nissin chairman Hartono Kweefanus & family $1.5 billion (down 23% or $450 million);
* Soledad Oppen Cojuangco and children Mark, Carlos, Luisa and Margarita $985 million (down 30% or $435 million);
*Prudential Guarantee chairman and CEO Roberto Coyiuto Jr. $420 million (down 50% or $415 million);
* Monde Nissin president Betty Ang $1.05 billion (down 25% or $350 million);
* Double Dragon chairman Injap Sia $330 million (down 51% or $345 million);
* Ty siblings Arthur, Alfred, Alesandra and Anjanette $1.9 billion (down 13.6% or $300 million);
* Robert V. Ongpin $830 million (down 24% or $270 million);
* Po family $1.2 billion (down 17% or $250 million);
* Ricky Razon $5.6 billion (down 3% or $200 million); and
* Monde Nissin CEO Henry Soesanto $625 million (down 21% or $170 million).