THE children of the late businessman Henry Sy are the wealthiest in the country, according to Forbes Magazine's Philippines' Richest in 2022. Teresita Sy Coson, Henry Sy Jr., Hans, Herbert, and Harley – the current SM Group's controlling shareholders – have a combined net worth of $12.6 billion, but down $4 billion from the previous year. Forbes wrote that investors' turning "skittish" caused shares of the family's flagship company, SM Investments, to drop by 19 percent from the previous year. The next-largest dollar gainer is real estate tycoon Manuel "Manny" Villar Jr., with a net worth of $7.8 million after adding $1.1 billion last year. Enrique Razon Jr., a port mogul who suffered a modest dip in his net worth to $5.6 billion, was the third person on the list.

Source: Forbes August 11, 2022 21:07 UTC