Forbes: Razon is richest Filipino

MANILA, Philippines — Ports and casino magnate Enrique Razon Jr. has become the richest person in the country for the first time after his fortune surged to a record $21.8 billion, lifting him to the top of the 2026 Forbes Philippines’ 50 Richest list.

Razon overtook the Sy siblings, who had long dominated the annual ranking, after adding $10.3 billion to his wealth over the past year—the biggest increase among Filipino billionaires in dollar terms.

“Unfazed by geopolitical tensions, he accelerated the global expansion of his listed International Container Terminal Services, which boosted its shares and helped Razon add $10.3 billion to his fortune,” Forbes said.

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One rank down

The latest ranking came as the combined wealth of the country’s 50 richest individuals and families fell by 8 percent to $79 billion from $86 billion a year earlier.

The Sy siblings, heirs to the SM empire built by the late Henry Sy Sr., slipped to second place with a combined wealth of $9.2 billion, down by $2.6 billion from last year as shares of SM Prime Holdings Inc. weakened amid a sluggish residential property market.

San Miguel Corp. chair and CEO Ramon Ang climbed one spot to third despite a slight decline in his fortune of $3.5 billion, while Puregold founders Lucio and Susan Co entered the top five for the first time at No. 4 with $3.3 billion.

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Rounding out the top five were Isidro Consunji and siblings of DMCI Holdings, whose wealth declined to $3 billion.

The rest of the top 10 consisted of Lucio Tan ($2.9 billion), Jaime Zobel de Ayala ($2.8 billion), the Que Azcona family ($2.5 billion), Manuel Villar ($2.4 billion) and the Ty siblings ($2.3 billion).

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According to Forbes, the minimum fortune required to make this year’s list remained unchanged at $185 million.

Top 15 circle

Just outside the top 10 were the Aboitiz family, ranked 11th with an estimated fortune of $2.2 billion, followed by Jollibee founder Tony Tan Caktiong and family at No. 12 with $2 billion.

Lance Gokongwei and siblings placed 13th with $1.9 billion, while Alliance Global founder Andrew Tan ranked 14th with $1.8 billion. Completing the top 15 was the Po family of Century Pacific Food, whose wealth was estimated at $1.6 billion.

The rankings were based on stock prices and exchange rates as of July 17, as well as shareholding and financial information obtained from families, stock exchanges, analysts and other sources.