Philippines' Richest Men See Combined Wealth Drop by $9.8B

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The combined net worth of the Philippines' three richest men has decreased by $9.8 billion this year. Manuel Villar, who was previously the richest, saw a $12.4 billion decline in his wealth, primarily due to issues with his company, Villar Land. Despite this, Enrique Razon Jr. emerges as the new richest man in the country, with his wealth increasing over the same period.

Enrique Razon Jr., at 65, now leads as the wealthiest Filipino, largely due to his holdings in International Container Terminal Services. Razon owns 51% of the ports operator, which is a family business he joined at the age of 17. His fortune, valued at $13.5 billion as of December 30, also includes stakes in Bloomberry Resorts and Prime Infrastructure Capital.

Manuel Villar, 76, dropped to second place after an accounting dispute impacted Villar Land, focusing on mass housing. The company's shares suffered after it delayed its 2024 financial statement due to a valuation disagreement. Originally valued at PHP1.3 trillion, a plot of land's valuation was eventually reduced to PHP8.7 billion, aligning with revised financial statements.

Ramon Ang retained his third-place position, with a stable net worth of $3.7 billion. His wealth largely stems from his role in San Miguel Corporation, a conglomerate involved in various industries from food and beverages to energy. San Miguel reported a significant 54% increase in its core net income for the first nine months of this year, reinforcing Ang’s steady financial standing, reported VN Express.

Key Takeaways

• Enrique Razon Jr. is now the richest man in the Philippines.

• Manuel Villar's wealth declined by $12.4 billion due to company valuation issues.

• Ramon Ang maintained his net worth despite sector challenges.

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  Adapted by ASEAN Now from VN Express 2025-12-31