3 spot, though the magazine noted that his net worth declined slightly to $5.6 billion. It is involved in power generation, power distribution, food manufacturing and processing, real estate and banking. The country’s oldest conglomerate is involved in real estate, retail, hotels, power generation and electronics manufacturing, among others. San Miguel has also diversified into power generation, infrastructure, real estate, and is building a P745-billion international airport north of Manila. His empire was built on real estate concerns, but has since expanded into hotels and Emperador, the world’s largest brandy company by revenues.

Source: Forbes August 12, 2022 02:26 UTC