MANILA, Philippines – The children of the late SM Group founder Henry Sy Sr. have emerged as the richest in the country in 2019, according to Forbes magazine.
Forbes’ list of Philippines’ 50 Richest, which was released on Wednesday, showed the Sy heirs claiming the top spot with a combined net worth of $17.2 billion, displacing property magnate and former Senator Manny Villar to second.
Sy held the top spot for 11 consecutive years until he passed away last January 19 at the age of 94. He left his colossal fortune to his six children Teresita, Elizabeth, Henry Jr., Hans, Herbert and Harley.
Villar followed with $6.6 billion, John Gokongwei, Jr., who owns Robinsons mall chains and budget carrier Cebu Pacific came third with $5.3 billion.
Port operator Enrique Razon, Jr. placed fourth, followed by Ayala Group’s Jaime Zobel de Ayala, LT Group founder and chairman Lucio Tan, Jollibee Food Corp. chairman Tony Tan Caktiong, and San Miguel Corp.’s Ramon Ang.
Completing the top ten in PH richest list are the children of the late Metrobank founder George Ty and Andrew Tan of Alliance Global which owns the McDonald’s franchise in the country.
Other groups that made it to the list of the country’s richest are the children of builder David Consunji at 13th spot, and the children of Mercury Drug founder Mariano Que at 18th place.
The heirs of Unilab Pharmaceutical company – Jocelyn, Joselito and Jeffrey Campos – ranked 23rd with a combined net worth of $650 million.
Forbes noted that aside from Henry Sy, 4 other long-time members of the country’s richest passed away including Metrobank and GT Capital’s George Ty, Unilab’s Beatrice Campos, Gilberto Duavit of GMA Network and Jon Aboitiz of the Aboitiz Group.
The global magazine said their passing created a new class of second-generation successors who secured a spot on this year’s list.
“The Sy siblings best illustrate this shift,” Forbes said, citing as well the Ty siblings and Campos siblings.
Davao-based tycoon Dennis Uy, meanwhile, debuted on Forbes’ list at 22nd for his estimated fortune of $660 million. Uy founded Udenna which has interests in shipping, logistics, oil, real estate, education and gaming.
It’s still three years before President Rodrigo Duterte’s term ends, and yet, this early, several names are already floating to likely run in the presidential race in 2022.
Among the list is Senator Cynthia Villar who also topped the senatorial elections this year.
Even President Duterte had, at one point, mentioned supporting the Villars in case anyone of them decides to run in 2022.
“One of the factors kung bakit ako pumayag, si Speaker (Manny Villar). Kaya kung may presidente na suportahan ko, si Speaker [one of the factors is Speaker (Manny Villar). If there is anyone I will support for presidency, it’s the Speaker],” said the President.
Senator Villar thanked the President for his trust. She, however, maintained that it is still too early to announce any decision regarding the 2022 elections.
“We thank President Duterte for his trust and confidence. Manny and I think 2022 is so far away and we are just focusing our efforts in reelecting me as senator in 2019,” Villar said.
On the other hand, the name of Senate President Vicente Sotto III was also mentioned by President Duterte in his first State of the Nation Address in 2016.
President Duterte said Sotto can become the president once Federalism is approved in Congress and the need for the new president arose.
Another name floating is that of Senator Panfilo Lacson, who had recently denied in his Twitter post that he is already posturing for the 2022 elections.
This came about when the senator had been actively giving his opinions on issues on his social media account.
MANILA, Philippines – Senator Cynthia Villar on Monday morning cast her vote in Las Piñas City along with her husband, former Senator Manny Villar.
The Villar couple voted around 9 a.m. at their assigned voting precinct in Las Piñas Science BF Resort in Talon 2.
They were wearing orange, their family’s signature political campaign color.
Accompanying them were their children, Public Works and Highways Secretary Mark Villar, Paulo, and Camille, who is gunning for a congressional seat.
Cynthia Villar, who is seeking reelection, has been topping political survey polls before the elections. In the recent Pulse Asia pre-election survey, she enjoyed a solo lead edging out Senator Grace Poe.
Meanwhile, Vice President Leni Robredo also voted in her bailiwick in Naga, Camarines Sur on Monday morning.
She arrived at 9:52 a.m. in her designated polling precinct in Tabuco Central School Cluster 112 together with her two daughters, Tricia and Aika.
No special treatment was given to the Robredos who fell in line outside of the polling precinct as they waited for their turn to cast their votes.
After successfully casting her vote around 10:42 a.m., Robredo briefly talked to reporters where she admitted that she feels nervous for this midterm elections.
She also described the opposition slate’s bid to win the polls as “an uphill battle.”
“Napaka-uphill nung battle pero in the last several weeks nakita namin ‘yung passion ng mga volunteers, ano ‘yun unrivaled,” she said.
“Parang pinakahuli kong nakita ‘yung ganun na passion nung 1986 pa kahit noong pagtakbo ko noong 2016 kahit marami kaming volunteers iba yung passion ngayon. Parang kabado para sa bansa hindi naman for the individual candidates we are supporting,” she added.
Robredo has been campaigning for the opposition slate “Otso Diretso.” But of the eight senatorial bets, only Senator Bam Aquino was able to enter the so-called “winning circle.”
Aquino got in 9th to 15th place in the latest Pulse Asia Pulso ng Bayan Pre-Electoral Nationwide Survey on the May 2019 Senatorial and Party-List Elections.
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