The Philippines’ wealth leaderboard barely shifted in November, with the combined net worth of the nation’s 14 richest holding at about $44.7 billion.
Enrique Razon led the gainers, raising his fortune to $13 billion from $12.6 billion in October. Ramon Ang modestly rose to $3.7 billion, while Lucio Tan added $100 million to reach $3.4 billion.
The Sy family remained a stabilizing force. Henry Sy Jr. climbed to $2.3 billion, and Hans Sy increased to $1.9 billion. Herbert Sy stayed at $1.8 billion, Harley Sy at $1.7 billion, Tessie Sy-Coson at $1.6 billion, and Elizabeth Sy at $1.4 billion—bringing the siblings’ combined wealth from $10.5 billion to $10.7 billion.
Two developments, however, reshaped the landscape. Manny Villar’s fortune fell sharply from $10.4 billion to $8.4 billion, a $2-billion decline tied to Vista Land’s valuation drop.
Meanwhile, Jollibee founder Tony Tan Caktiong slipped below the billion-dollar mark for the first time since 2016. After peaking at $4 billion in 2018 and still holding $1.3 billion early this year, his wealth has dipped under $1 billion as Jollibee shares hit a four-month low and fell 30% year-to-date.