Henry Sy Still Richest Filipino-Forbes Magazine

Forbes magazine’s The Philippines 50 Richest List for 2015 revealed that Henry Sy remained the richest Filipino.

Report said that Sy, who bagged the number one spot for the eight straight year, has a net worth of $14.4 billion, higher than his estimated $12.7 billion net worth in 2014.

Forbes reportedly said that the country’s richest man is even richer as the value of his publicly traded conglomerates like SM Investments and SM Prime Holdings, have increased by 17% and 20%, respectively over the past year.

The 90-year-old business tycoon also has a stake in privately-owned electricity firm National Grid Corp., which supplies power to the entire country.

Following Sy is John Gokongwei, owner of Robinsons malls, with a net worth of $5.5 billion, while Alliance Global’s Andrew Tan placed third with a net worth of $4.5 billion.