GMA-7, ABS-CBN and TV5 executives are among Forbes magazine's Philippines' 50 Richest for 2013

IMAGE Noel B. Orsal

GMA Network Inc.'s Gilberto Duavit ranked 37th with $244 million in this year's "The Philippines' 50 Richest" list, while Atty. Felipe Gozon landed the 41st spot with a net worth of $200 million.


Forbes magazine released its annual list of the richest people in the world for 2013, yesterday, August 1.

Likewise, it also featured “The Philippines’ 50 Richest” list, which included seven media industry leaders.

Landing the 13th spot with a net worth of $1.35 billion was Emilio Yap, who owns the daily broadsheet Manila Bulletin.

According to Forbes, the media tycoon gained the "biggest chunk of wealth from more than two-thirds stake in Philtrust Bank."

Lopez Holdings' Oscar Lopez and his family ranked 22nd with $675 million— which already roped in the fortune of his nephew Eugenio "Gabby" Lopez III, chairman of ABS-CBN, who used to be listed separately.

Meanwhile, all three major owners of GMA Network Inc. made it to the list.

Gilberto Duavit and his family ranked 37th with $244 million; Menardo Jimenez, who owns almost one-third of the company, landed the 38th spot with $223 million; Atty. Felipe Gozon and his family were at the 41st spot with a net worth of $200 million.

Manuel V. Pangilinan (MVP), chairman of TV5, completed the list with a net worth of $105 million—which, according to Forbes, was based on assets which are “publicly known.”

The American business magazine added, “His net worth estimate is based on what we can prove, though sources claim he owns higher stakes than publicly known."

MVP also chairs Philippine Long Distance Telephone, Meralco, Smart Communications, among others.

Topping this year’s "The Philippines’ 50 Richest": Henry Sy and his family with a net worth of $12 billion.

Forbes said, “The Philippines' richest person Henry Sy saw his fortune swell by $2.9 billion, boosted by the surge in shares of his SM Investments, the country's most valuable company, which reported record profits of over $570 million in 2012.”

Henry Sy was followed by Lucio Tan and his family with a net worth of $7.5 billion.

Lucio Tan handles Asia Brewery Inc., and has a stake in Philippine Morris Fortune Tobacco Corp. Inc., which has "an estimated 80 percent market share of the country’s cigarette industry," and Philippine Airlines.

ADVERTISEMENT - CONTINUE READING BELOW

John Gokongwei Jr., chairman of JG Summit Holdings, dropped to 5th place from the 3rd spot last year, with a net worth of $3.4 billion.

The 86-year-old Filipino-Chinese businessman was followed by Jaime Zobel de Ayala and his family, who runs the Ayala Corporation with a net worth of $3.1 billion.

Former Senator Manny Villar ranked 16th with a net worth of $1.05 billion.

Click here to view the full list.


WE RECOMMEND


FROM THE SUMMIT MEDIA NETWORK


SPONSORED CONTENT


COMMENTS

Loading comments

THIS JUST IN