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Thread: The 40 richest people in the Philippines

  1. #51
    How Much Do Top CEOs and Executives in the Philippines Earn?

    It's the closest we can get to taking a peek at their payslips.

    It’s a question that frequently comes up whenever talk turns to pay and salaries: How much do the CEOs and executives of the country's biggest companies earn as salaries?

    Perhaps only the commissioner of the Bureau of Internal Revenue (BIR) would ever know the true answer to the question.

    However, thanks to listed companies' disclosures to the Philippine Stock Exchange (PSE), the rest of us can get an approximate idea of how much the top executives are paid each year. As part of their annual reports, listed companies disclose the total compensation of their four to six highest-paid executives.

    Toward this end, Entrepreneur Philippines compiled the reported executive compensation in 2016 of the country's biggest listed companies. The list is limited to the 25 largest firms by market capitalization as of the end of second quarter in 2017. After gathering the total compensation, the average pay of the top-paid executives was computed then ranked from largest to smallest.

    Surprisingly, there seems to be little relationship between the size of a company's market capitalization and executive pay. The firm that pays its top executives the highest on average is not SM Investments Corp., the most valuable company at the PSE, but Metro Pacific Investments Corp., the local holding investment unit of Hong Kong-based First Pacific Company Ltd. On average, Metro Pacific pays its top executives about four times more than the holding company owned by the country’s richest man, Henry Sy Sr.

    Metro Pacific Investments Corp. is led by Manuel V. Pangilinan as chairman and Jose Ma. K. Lim as president. It was also the country's 18th biggest listed company by market capitalization as of end-June 2017.

    Alliance Global Inc. was ranked 24th but no executive compensation data was provided in their annual report. Thus, Megaworld Corporation, which was ranked 26th, was included in this list.

  2. #52
    From Esquire Philippines ...

    The Brief But Remarkable Life Of Johnny Ysmael, Millionaire Playboy

    He lived fast and fashionably.

    By NICAI DE GUZMAN | Dec 5, 2017

    Johnny Ysmael had the world.

    It came with his last name: the Ysmaels were among the so-called Manila's 400, a list of elite families who had wealth, education, prominence, and most importantly, pedigree. Johnny was one of the most eligible bachelors of his time.

    The Ysmaels came from a line of Lebanese immigrants who had settled in the Philippines. The family matriarch was Do?a Magdalena Hashim Ysmael-Hemady - Emme to her grandkids?who made her fortune buying up land in Manila and Batangas. Her first big success came in the 1930s, with the development of an hacienda in the outskirts of San Juan into a large subdivision called Magdalena Estate, which eventually became New Manila. The family also owned Ysmael Steel, once the leading manufacturer of steel and home electric appliances; later, they were the importers of the Fiat cars from Italy.

    Johnny was Do?a Magdalena's favorite and she spoiled his ni?o bonito by giving him everything he wanted - a custom-made Ferrari, expensive trips, the latest signature clothes. She even paid off his gambling debts.

    Bon vivant Johnny lived fast and, unfortunately, died young. His story, however, is a reminder of the elegance and opulence of times gone by.

    The Lover

    It's difficult to talk about Johnny Ysmael without mentioning Maria Priscilla Recto, undoubtedly Manila?s very first It girl. She was the youngest child of Claro M. Recto and his first wife, Angelina Silos. Her father called his favorite ?Chona,? which came from the Spanish word "pichona" or "my little pigeon." As Johnny would later do, the Filipino statesman spoiled his daughter with clothes, jewelry, and travel.

    Chona had many friends and admirers during her time at St. Scholastica's College. She was prom queen of both Ateneo and La Salle. Though she loved to party and mingle, her father was very strict and she was forbidden to participate in dates, had a midnight curfew, and was expected to be a consistent honors student.

    When Johnny and Chona met before the war, they felt an instant attraction. Chona, however, was sent to Marymount College in Tarrytown, New York - which delayed Johnny?s courtship as well as the young couple?s blossoming love. Chona returned when the war broke out, and fortunately, Johnny was waiting. They soon rekindled their relationship, went on dates, and danced and partied the nights away.

    Despite initial reservations, Recto gave his blessing to the couple. Johnny and Chona married in a simple ceremony in December 1941. The intimate yet elegant wedding took place at San Agustin Church, amid the ruins of Intramuros. Children quickly followed: Juan Johnny "Piqui" Ysmael, Jr., Teresita "Techie" Ysmael-Bilbao, Mario Ramon "Ramoncito" Ysmael, and Luis Miguel "Louie" Ysmael.

    Techie remembers growing up with her father whispering to her how guapa Chona was because of her unparalleled femininity. Chona reciprocated this love by telling her children how much Johnny loved her, maybe even more than his elegant clothes, racehorses, and fast cars.

    Johnny and Chona shared their taste in exquisite things - fine clothes and fashion. In 1951, when the couple was in Europe, he asked his wife if she wanted a Balenciaga chinchilla fur coat or a diamond-studded Vacheron Constantin. Chona wanted both, and of course he delivered.

    Johnny was passionate about cars and horses; Chona loved to travel. Both loved to dance. "They would go around the world and learn dancing: Argentina Tango, Cuban mambo, cha-cha, and then flamenco in Spain?pasodoble," Techie recalls in the Town & Country Philippines feature on her mother.

    The Connoisseur of Fine Things

    Their traveling and partying were always complemented with fine clothes. The couple were always dressed to kill. "Linen, cotton, and sharkskin outfits in the summer; and well-cut tweeds, knits, and cashmere in the winter. His watches and accessories were branded then," Techie wrote back in 2014.

    She added: "He loved Hollywood and my mother even told us that he knew Bugsy Siegel. They gambled extravagantly in Monaco at night, and Emme paid all his bills at the Casino Royale," Techie wrote.

    The couple kept high-profile friends. When they were in Los Angeles, they would double date with Hollywood stars Tyrone Power and Linda Christian. They also hung out with notorious womanizer (and rumored assassin) Porfirio Rubirosa, the actor Ricardo Montalban, and the Marques de Portago.

    Were they living excessively? There were times Chona thought they did. Techie recalled her mother's lamentations that Emme had spoiled Johnny rotten by giving him everything he wanted, which included funds to buy a custom-built sports car, a gorgeous 1951 two-tone 250hp Vignale Coupe which then cost $25,000. The car, which was featured in Road & Track magazine, was built according to Johnny's designs. After the completion of the bodywork, the forms and instructions for building were thrown away so the car won't ever be replicated and be truly one of its kind.

    "Like most of Daddy Johnny's cars, it was super-chromed and light in weight because all the bodywork and interior fittings were molded and cast in aluminum. He even bought electric cars for the boys and they drove around the house on 7th Street," Techie wrote.

    Apart from cars, Johnny was fond of horses. As a boy, he rode horses around New Manila with his close friends - a circle that included Benny Toda, who would one day own Philippine Airlines; and Enrique Zobel, who led the transformation of Makati from a swampy hacienda into the business district that it is today. They were birds of the same feather, all wealthy young scions from prominent families who were always described as "dashing": Zobel was known as one of the country's most talented polo players in his prime, while Toda was a licensed pilot who was known to fly his own plane to his private island, famed for its parties.

    The Legend

    Johnny showed exceptional resilience, like the relentless courage he showed during the war. In December 1944, he and Miguel Perez-Rubio, statesman and boyfriend of his sister Luisa, planned the escape of Manuel Roxas to guerilla territory. On January 3, 1945, Johnny was arrested by the Japanese Kempeitai. Miguel was arrested a month later. They endured prison and interrogation until his father-in-law and President Jose P. Laurel interceded, and they were both released in March.

    Unfortunately, the flip side of Johnny's tenacity was his stubbornness. One fine winter day, Johnny drove his convertible top-down from Saint-Jean-de-Luz to Madrid. He was just recovering from pneumonia, and so the road trip worsened his condition. He was soon diagnosed with tuberculosis, yet he didn't even flinch at the diagnosis. "The hell he cared with not eating breakfast, and going out in the cold when it was winter, in lightweight clothes, as long as they were nice," recounted Techie.

    The family was asked to go back to their house in Quezon City, where Johnny stayed in bed, breathing through an oxygen tank. For a month, Johnny suffered. "I knew he was gone when he stopped moving and I heard the sobs of my mother, which later turned into wails. It was one of the very few times I saw my mom lose it," Techie recalled.

    Johnny was only 32.

  3. #53
    ^ Continued ...

    When he died, his hearse was pulled by his favorite horse, Don Juan. Chona even pointed out to her children that the horse's head was bowed down.

    Do?a Magdalena was heartbroken. She had lost her only heir of legal age, leaving her no choice but to transfer his rights to Johnny's brother, Felipe "Baby" Ysmael Jr., who was only a baby that time. Coincidentally, it was also during that time Ysmael Steel was being established. Baby eventually became the owner and managing director of Ysmael Steel when Do?a Magdalena passed away.

    Ysmael Steel prospered with the manufacturing of steel and home appliances under the trademark of Admiral. A famous Manila landmark back then was the gigantic Ysmael Steel robot which sprawled the lawn of their factory on Espa?a Extension. The company also owned a basketball league that time, their most notable rival being YCO, which was owned by Don Manolo Elizalde.

    Unfortunately, Baby seemed to have inherited his Johnny's love of gambling, and he squandered the family fortune. After a series of bad business decisions, he sold Ysmael Steel to the Guevarras of Volkswagen before migrating with his family to Australia.

    On the other hand, Chona remarried two years after Johnny's death, to American entrepreneur Hans Kasten. Unfortunately, Hans and Chona weren't blessed with the same blissful relationship that she enjoyed with Johnny. Chona instead focused on her children and travels, making her name for herself in fashion and advertising. Though never without suitors, she always referred to Johnny as her true, great love.

    Johnny's children seemed to have taken after his love of luxury and society. Piqui, also known as Johnny the Third, inherited his father's vintage car collection, which he hasn't parted with to this day. Techie was a consistent honor student and had a flair for fashion, similar to her parents. During her commencement exercises, she even wore broke the rules and wore a mini-dress. Like her parents, she also loved to dance. She later became a model, designer, consultant, and author.

    Like Techie, Louie studied abroad. He continued to work overseas and and bought a Ferrari with his first million. He returned to Manila in the '70s where he became known as Louie Y. He was one of Manila's most eligible bachelors; at one point he dated Isabel Preysler, who would go on to become Julio Iglesias' wife. He was later responsible for putting up Kuya Pare in Mile Long, Euphoria (the old Where Else), Venezia (which became V Bar), and Nuvo, among others. Currently, he's a partner at Priv? and The Palace.

    Out of all Johnny's children, Louie seems like the one who inherited his father's ardent passion for partying, as the younger Ysmael lives out his years like his father never did. But though he's made his own mark on Manila's night club scene, Johnny remains one tough class act to follow.

  4. #54
    Henry Sy, 11 other tycoons from PH, among the world's richest

    By: Doris Dumlao-Abadilla - Reporter / @philbizwatcher Philippine Daily Inquirer / 10:22 AM March 07, 2018

    A dozen tycoons from the Philippines, Henry Sy Sr. who founded the storied SM group, are among the wealthiest people on the planet, based on Forbes magazines' 2018 list of billionaires.

    Sy, who's turning 94 this year, has an estimated net worth of $20 billion. His family leads three of the most valuable companies in the Philippines: SM Investments, SM Prime Holdings and BDO Unibank. SM Investments and SM Prime have breached the P1-trillion market capitalization mark, the first Philippine Stock Exchange-listed companies to do so.

    Globally, Sy is ranked 52th [52nd, he meant 52nd, right...?] richest, slightly richer than young American tycoon Elon Musk who is valued at $19.9 billion.

    JG Summit founder John Gokongwei is the second wealthiest person from the Philippines with an estimated net worth of $5.8 billion, ranking 305th globally. Regional industrial powerhouse Universal Robina Corp., budget carrier Cebu Pacific and property developer Robinsons Land Corp. are among his group's crown jewels.

    Enrique Razon Jr. – who has established a global footprint through International Container Terminal Services Inc. and is now building an integrated gaming empire through Bloomberry Resorts Corp. - was valued by Forbes at $4.9 billion, earning him the 404th slot in the global ranking.

    Tobacco magnate Lucio Tan ranked 441st on the global list with a net worth of $4.7 billion, followed by Jollibee Foods Corp. founder Tony Tan Caktiong which is valued at $4 billion and who ranked 550th globally.

    George Ty, founder of the Metrobank group and who also built a market-leading automotive business in the Philippines in partnership with Toyota Corp. of Japan, is also on the elite roster with an estimated net worth of $3.9 billion. He ranked 572nd globally.

    The "brown" taipan Manny Villar, who focused on growing his real estate empire after losing the 2010 presidential elections, is now valued at $3 billion. He ranked 791st globally.

    Property tycoon Andrew Tan, founder of the Megaworld group, ranked 887th globally with an estimated net worth of $2.7 billion.

    San Miguel Corp. (SMC) president and controlling stockholder Ramon S. Ang, who also chairs newly-listed Eagle Cement Corp., has an estimated value of $2.5 billion and ranked 965th globally.

    Insurance and car dealership mogul Robert Coyiuto, who also has a stake in electricity superhighway National Grid and Oriental Petroleum & Minerals, has an estimated net worth of $1.4 billion and ranked 1,650th globally.

    Even after selling a big chunk of SMC to Ang in 2012, mapping out the succession in this conglomerate, SMC chair Eduardo Cojuangco is still among the world's richest with an estimated net worth of $1.3 billion.

    Even after being "hit by lightning" during this term of Pres. Rodrigo Duterte and being forced to sell out of gaming technology venture Philweb Corp., businessman Roberto Ongpin has a still formidable fortune estimated at $1.1 billion.

  5. #55
    12 richest Pinoys have P2.9 trillion

    By: Doris Dumlao-Abadilla - Reporter / @philbizwatcher Philippine Daily Inquirer / 07:06 AM March 08, 2018

    With an estimated net worth of $20 billion, SM founder Henry Sy Sr. remains the richest among the tycoons from the Philippines who made it to Forbes magazine's latest annual list of the wealthiest people on the planet.

    Forbes said the 12 richest Filipinos had a combined fortune of $55.6 billion (about P2.9 trillion), nearly a fifth of the domestic economy.

    Jeff Bezos is still the richest person on the planet with $112 billion, double the combined wealth of 12 billionaires from the Philippines, as the value of his e-commerce listed firm Amazon surged 59 percent in the last 12 months.

    A record 2,208 billionaires around the world made it to Forbes' 32nd annual ranking. Altogether they are worth a record $9.1 trillion, up 18 percent from a year ago, according to the March 6 article posted by the US magazine.

    An Oxfam report found that the world’s richest 1 percent received 82 percent of the wealth generated in 2017, while the poorest of humanity got nothing.

    The growing inequality has led to the rise of populist leaders, including US President Donald Trump.

    52nd wealthiest in world Sy's net worth of $20 billion is over three times larger than the fortune of the next richest tycoon from the Philippines, as his net worth surged 57 percent from that of last year.

    Globally, Sy who is turning 94 this year, is ranked 52nd richest, slightly richer than Elon Musk, who founded electric car maker Tesla, solar energy giant Solar City and spacecraft-maker SpaceX. Musk is valued at $19.9 billion.

    Sy’s group controls three of the most valuable companies on the Philippine stock market: SM Investments Corp., SM Prime Holdings and BDO Unibank.

    11 other PH tycoons

    SM Investments and SM Prime have both breached the P1-trillion market capitalization mark and are the first two companies to reach this milestone.

    On the Forbes list are 11 other Filipino tycoons.

    JG Summit founder John Gokongwei Jr., 91, is the second wealthiest person from the Philippines with a net worth of $5.8 billion, ranking 305th globally.

    Universal Robina Corp., Cebu Pacific, Robinsons Land Corp. and JG Petrochemicals Corp. are among his group's crown jewels.

    Enrique Razon Jr. - who has established a global footprint through International Container Terminal Services Inc. and is building an integrated gaming empire through Bloomberry Resorts Corp. - is valued by Forbes at $4.9 billion, earning him the 404th slot globally.

    At 58, he is the youngest billionaire from the Philippines.

    Tobacco magnate Lucio Tan, 83, is 441st on the global list with a net worth of $4.7 billion. He is also into banking (Philippine National Bank), aviation (Philippine Airlines) and liquor (Tanduay and Asia Brewery) businesses.

    Tony Tan Caktiong, chair and founder of Jollibee Foods Corp., is next on the list of Filipino tycoons with $4 billion, ranking 550th globally.

    George Ty, founder of the Metrobank group and who built a market-leading automotive business in the Philippines with Toyota, has an estimated net worth of $3.9 billion. The 85-year-old tycoon ranked 572nd globally.

    As rich as Trump

    Manny Villar Jr., 68, who focused on growing his real estate-based empire after losing the 2010 presidential election, is valued at $3 billion. He ranked 791st worldwide.

    Among the listed companies under his leadership are Vista Land & Lifescapes, Starmalls and Golden Haven.

    Villar is almost as rich as businessman-turned-US President Trump, who is valued at $3.1 billion.

    Forbes said Trump was one notable loser in this year’s rankings, as his fortune fell by $400 million since March 2017, now 766th in the world, down from 544th.

    Andrew Tan, 65, founder of the Megaworld group, ranked 887th globally with $2.7 billion.

    Ang valued at $2.5B

    Ramon S. Ang, president and controlling stockholder of San Miguel Corp., has an estimated value of $2.5 billion. The 64-year-old tycoon ranked 965th globally.

    Insurance and car dealership mogul Robert Coyiuto Jr., 65, has a net worth of $1.4 billion and ranked 1,650th globally.

    SMC chair Eduardo Cojuangco, 82, is still among the world's richest with an estimated net worth of $1.3 billion even after he sold a big chunk of SMC to Ang in 2012.

    Roberto Ongpin, 81, still has a formidable fortune estimated at $1.1 billion. After selling out of gaming technology venture Philweb Corp., he is focused on upscale property developer Alphaland Corp.

    Fewer Filipinos made it to this year's list compared to last year, when 14 made it to the roster.

    2nd richest in world

    Microsoft cofounder Bill Gates is the second richest in the world with $90 billion.

    Warren Buffet of Berkshire Hathaway is the third richest with $84 billion while Bernard Arnault, CEO of the world's largest luxury goods conglomerate LVMH of France, ranked fourth with $72 billion.

    Facebook founder Mark Zuckerberg is the world's fifth richest, with $71 billion.

  6. #56
    Billionaires Made So Much Money Last Year They Could End Extreme Poverty Seven Times

    Shelley Hagan, Bloomberg

    22 January 2018

    The global economy created a record number of billionaires last year, exacerbating inequality amid a weakening of workers’ rights and a corporate push to maximize shareholder returns, charity organization Oxfam International said in a new report.

    The world now has 2,043 billionaires, after a new one emerged every two days in the past year, the nonprofit organization said in a report published Monday. The group of mostly men saw its wealth surge by $762 billion, which is enough money to end extreme poverty seven times over, according to Oxfam.

    According to separate data compiled by Bloomberg, the top 500 billionaires’ net worth grew 24% to $5.38 trillion in 2017, while the world’s richest person, Inc.’s Jeff Bezos, saw a gain of $33.7 billion.

    “The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system,” said Winnie Byanyima, executive director of Oxfam International. “The people who make our clothes, assemble our phones and grow our food are being exploited.”

    Oxfam published the report as global leaders, chief executives and bankers arrive in Davos, Switzerland, for the World Economic Forum’s annual meeting. Noting that many of the world’s elite say they’re concerned about income inequality, the charity said most governments are “shamefully failing” to improve the matter.

    Oxfam called on governments to limit shareholder and executive returns, while ensuring workers receive a living wage. It also recommended eliminating the gender pay gap and raising taxes on the wealthy, among other suggestions.

    “People are ready for change,” Byanyima said. “They want a limit on the power and the wealth which sits in the hands of so few.”

  7. #57

  8. #58
    From Esquire Philippines - - -

    There Are 52,135 Filipino Dollar Millionaires, Says Credit Suisse

    However, the Philippines also has one of the highest levels of income inequality.

    By Anri Ichimura | Just now

    In the 2019 Credit Suisse Global Wealth Report and Databook, the international investment banking company reported that there are currently 52,153 Filipino dollar millionaires, or Filipino individuals each with a net worth exceeding $1 million.

    According to Credit Suisse, there are over 40,000 Filipinos each with a net worth in the range of $1 million to $5 million or P51.14 million to P255.7 million. This is the wealth range with the most individuals. Meanwhile, there are only 43 Filipinos with a net worth exceeding $500 million or P25.57 billion.

    Despite being categorized as a lower middle-income group, Credit Suisse has defined the Philippines as an emerging market. Compares to selected countries in Credit Suisse’s report, the Philippines experienced the fifth highest change in market capitalization, third highest change in USD exchange rate, third highest change in total household wealth, and third highest change in wealth per adult.

    The country’s wealth is estimated to be worth $764 billion, which amounts of 0.2 percent of the world’s total wealth.

    However, it was also recorded that, among selected countries, the Philippines has the ninth highest level of income inequality based on the Gini coefficient, a method of measuring wealth distribution. Despite the country's growing amount of millionaires, the gap between the rich and poor has seen little improvement.

    There are currently 47 million millionaires worldwide in 2019, with the United States, China, Japan, United Kingdom, and Germany taking the lead. However, China has overtaken the U.S. by having more rich citizens, although the U.S. still holds the title of having the most millionaires than any other country.

    The global wealth is recorded to be $361 trillion in 2019, with predictions that global wealth will hit $459 trillion in 2024.

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