Jaime Zobel de Ayala & family

Age: 72
Fortune: inherited
Source: diversified
Net Worth: $2.6 billion
Country Of Citizenship: Philippines
Residence: Manila , Philippines, Asia & Australia
Industry: Diversified
Marital Status: married, 7 children
Education: De La Salle University
Harvard University
Patriarch of Ayala Corp., the oldest and largest conglomerate in the Philippines, founded in 1834. Interests in real estate, water and telecom, among other industries. Zobel de Ayala retired in April; son Jaime Augusto took over as chairman; other son Fernando became president. In addition to a career in which he headed a number of Philippine businesses—including Bank of the Philippine Islands—Zobel de Ayala's public service record includes a stint as Philippine Ambassador to the Court of St. James and the Scandinavian countries from 1970 to 1975. Holds an architecture degree from Harvard.


Henry Sy

Age: 82
Fortune: self made
Source: malls
Net Worth: $2.6 billion
Country Of Citizenship: Philippines
Residence: Manila , Philippines, Asia & Australia
Industry: Diversified
Marital Status: married, 6 children
Education:
Opened a small shoe store in Manila 60 years ago. Today controls a retail empire that includes 31 malls across Asia, including the 4.1-million-square-foot Mall of Asia, which boasts an Olympic-size skating rink. Still visits the mall every other day, often in his trademark Hawaiian shirts. Last year raised $525 million in the nation's largest public offering for his conglomerate SM Investments. Has also been increasing his stake in banking and slowly opening malls in China. Aging entrepreneur still sits at the head of bi-weekly family board meetings but is largely handing over daily operations to his 6 kids.


Lucio Tan

Age: 72
Fortune: self made
Source: diversified
Net Worth: $2.3 billion
Country Of Citizenship: Philippines
Residence: Manila , Philippines, Asia & Australia
Industry: Tobacco
Marital Status: married, 6 children
Education: Far Eastern University, Bachelor of Arts / Science
Ethnic Chinese entrepreneur has amassed a mostly private fortune that includes international carrier Philippine Airlines as well as the nation's largest cigarette company, Fortune Tobacco. Also owns a portfolio of real estate in Hong Kong. Among his many posts, he is the Philippines' Honorary Consul to Romania. Hobbies include flying helicopters and learning Chinese history; paid a professor from China to move to Manila to be his private tutor.


Anyone else worth mentioning?

how bout eddie gil??

And none of them is Filipino Malay Sool good theyre still pinoys.

its funny that the spaniard has inherited wealth...obviously stoplen from malay natives...and the chinese r self made millionares.

Millionaires need not mentioning 'ShoeMart'

You know of anymore Filipino Billionaire magnates?

Maybe we'll lower the stake to half a Billion dollars shall we, maybe net worth of $500 million dollars and above.

OMG that's ballin'.

so that's why it's called shoemart? pretty cool.

it's kind of scary that people can get that rich. seriously. that's a million dollars (already a lot) except THREE THOUSAND TIMES OVER.

i mean, a million isn't much b/c that's like the cost of a modest home in california and then some, but threee thousand of them? ahahha. jesus.

Eddie Cabal Gil is a Filipino businessman and politician.
There is no official record of Eddie's net worth although he claims to be a billionaire, which in conclusion, he probably doesn't possess such wealth, but just claims or miscalculation of his exaggerated fortune.

I can't believe you didn't know that 'ham_let'

I heard that he could be worth up to $5 Billion Dollars if all his assets are calculated.

my dad owned a bakery/raincoat store.

too bad he didn't start 'SoggyBreadCoatMart' ;__;

henry sy - koripot. mamamatay siyang konti lang ang tinulungan. may araw din siya.

lucio tan - tax evader. madaming inanakan.

There's always a 'koripot' tag to all the super rich especially for a country with an average salary of roughly $100 per month.

A bit similar to these so called 'Russian oligarchs' http://en.wikipedia.org/wiki/Business_oligarch

only IF eh? you'd be sitting there now with a hand made gold laptop, sipping on a 1787 Chateau Lafite (world's most expensive bottle of wine)

A hateful statement from an ugly and financially deprived individual who had to leave and depend on the white man to survive. Understandable.



And there are actually many Filipinos who are resentful of the Chinese because they are perceived to be more moneyed. Just see the poster two places above me. ^



I wonder what happened to Tan Yu's wealth? He was worth $7 billion in the mid 90's and was the second biggest land owner in the country after the government. He died in 2002 and he's been living in Taiwan before that. Did his wealth go to the Taiwanese? His families are there, I think.

there are many people who aren't as rich as those three yet have contributed and shared much of their wealth to poor people. that's my point. nakuha mo na?

At natalo na pala ng mga Ayala ang mga instik? Dati rank 3 lang sila with Lucio Tan at the top and Sy second.

Other rich families (that I know of.):

The family of internationally-renowned designer Monique Lhuillier. It's a Filipino-French family based in Cebu that's said to be worth around $2 billion.

there's the family of palengke King senator Mar Roxas that was reported by ABS-CBN back in '04 to be one of the richest in the country.

there's again the Spanish clan the Aboitiz that recently built a world-class car ferry in Cebu.

So you want them to just give all their money away to indolent individuals ala Wowowee? Even Bill Gates will not be able to help all the poor of this country. Besides, the Ayalas have a charity of their own. Lucio Tan even went to Leyte to help the landslide victims last year.

Back to filthy richness, Danding Cojuangco is said to be worth around $6-7 billion (though it is not confirmed). He has huge tracts of land in Australia and owns fine race horses (or was it a horse racing club?) there. And that was before his San Miguel took over the largest dairy and juice producer in Down Under.

wala akong sinabing tulungan nila ang lahat. hindi lahat ng mahirap tamad. at hindi lahat ng mayaman masipag.

rich filipinos eh? 1st of all, theyre not full filipino and 2nd theyre kurakot! money goes to them instead of the 3rd estate! lets take the example from the french during the french revolution! reverse the system! none of those peaceful rallies and crap, savagery to scare away dem kuripots!

jkez.

And look at the French now. the butt of jokes.

What is wrong with France now ???

What is wrong with France now ??? I heard that one of the presidential candidate is actually a socialist . Is it true ??

I totally agree with you!!!!
Wowowee is just a part of media marketing strategies....so that people would ACTUALLY think..."manuod tau nyan, kc pwede ka "manalo" ng pera"....which in fact tends to lead the filipinos to be more tamad"....
Those three "billionaires" have helped so many "needy" people in a right way and without broadcasting it in media to let people now they DO help people....but in a right way and in silence....

Yep. They should embrace socialism because they don't know how to compete with the Germans, the British, the Americans and the Japanese. What a pity.

What is it with u and saying anyone who lives outside of the Philippines is financially deprived...ugghhh...loser

Moderators, if you are reading this, please pay attention:

From what I have observed around here, most of the members of this forum are fairly decent, reasonable people (as most Filipinos are, IMHO). "ShoeMart" and a couple of others (e.g., Pink Cream and KristlehI) are the exception. There is no sense in trying to reason with these racist hate-mongers -- they really aren't interested in civil discourse:



It's really sad that the moderators of this forum don't take their roles seriously. All too often, I have seen the exact same people start a flame war by uttering some form of hateful abuse on another member or members, and the only response from the moderators is to lock the entire discussion thread. Good going guys... Why not attack the problem at the root and ban these hate-filled, racist trolls? There are only a few of them (right now, at least), and most of the scumbags are repeat-offenders (and some even pull the same bullsh** in non-Filipino Chat forums on AF too). I have already witnessed a number of people express their disgust with some of the extreme bad behavior tolerated on this board, and it has got to stop. What do you say?

ummm eltard should be booted via IP. shoemart OK it just from time to time that all. at least shoemart defense filos against ignorance asians.

yeah I am racist Kastila just because I said the truth that these business tycoons are known for being tax evaders and having amnesia of their not-so-luxurious pasts. i'm sorry i can't be as intellectual as you. i'm just an indio you see. i can't afford to live your glamorous life. just an advice, ocassionally muttering about socio-economic/social status and all that crap in the mestizo thread isn't exactly an example of civil discourse. you might want to set an example first.

Oh sure...why don't u blame the indio...eltard is that u behind the screenname kastilla????

We don't need to blame you. We own you. You blame us.

Joke.

If they want to forget about their past. That's their business, not yours. If they don't want to help people, that's their business. Not yours. (YOu can sue them for that in a court on another planet.) Only the people can help themselves. And kastila never muttered anything about socio economic discourse in the mestizo thread. He just posted pictures of his social circle. And his glamorous life is none of our business. As usual, your resentment for those who can afford the finer things in life shows your own deep seated bitterness about yourself.

Go back home and stop taking jobs away from the Americans (or whatever country you're in.)

Like u own me 10,000 miles away...u jack @ss..thanks to u...the Philippines is a third world country...with a bunch of posers as the upper class...nakakahiya....

prof. eldard, magbasa ka ulit. i'm bitter and you have problems with selected memory. nice huh?

yayaman ba si henry sy kung walang pumupunta na mga tao sa malls niya? yang aboitiz ba yayaman kung walang sumasakay sa mga barko niya?

kaya nga may tinatawag na social responsibility dodong. most of them are tax evaders. it's none of my business noh?

forum noun (forums or (rare) fora)
1. a meeting to discuss topics of public concern. 2 a place, programme or publication where opinions can be expressed and openly discussed.

Why don't you accuse me 'Kastila' I've commented on other threads in which i've mentioned the word 'white' and other words in which you would find derogatory, I understand your quite sensitive with words.

I don't support nor tolerate "flame war" as you mentioned, however, I do encourage constructive criticism towards one another, after all this is a filipino forum in which we are all entitled to discuss whatever subjects related to us filipinos.

After being exploited by the Spaniards, raped, robbed us of our freedom, to feed their ever hunger for gold and expansionism, I think were entitled to utter some sense of dissatisfaction towards the conquistadors. Then there's the Americans, well I could go on and on but it would be fruitless. I do believe that they brought advantages as well as disadvantages. I strongly discourage harbouring grudge from the past, instead, energy should be put to better use by debating how we can improve the future of our country.

I strongly suggest we put this verbal sparring to rest, I woudn't want this thread and many others closed.

Youre the ones who have problems with selected memory. for your info mas mataas magpa sweldo ang SM kumpara sa ibang malls. And unless you can prove that they evade taxes yourself, shut up. That's the governments job. And I've said before that many of them contribute to charities. And you said on another thread that you hate pasosyal people. Have they done anything to you or are you just jealous of them?

Oh, para kang bata sa mga sagot mo. at wala ka talagang alam sa ecomics. It's not because of us, it's because of people like who doesn't have half a brain. people like you who can't stop making babies. You like to blame other races for your woes. If all mestizos, chinese and westerners suddenly left the country, do you think anything will happen? Even in Malaysia and Indonesia, the richest folks are not Malay.

no, kastilla is siri's new account

All the European countries are fairly socalist compared to the US.

And it's not exactly your place to put down other countries for "not being able to compete."

Doesn't it seriously bother any of you that the billionaires are not ethnic filipinos?

yes, i'm so racist for stating that white/mestizos are ethnic minorities

Wow! So much hatred on this boards! Anyway, define ethnic Filipinos?

Could it be that's why they are not the superpower that America is today?

Some people say Negrillos, Indios, Moros. But i'm sure someone will comment on that.
Hatred eh? and we Filipinos suppose to embrace diversity?

As long as they are proud Filipinos and their wealth are invested within the country. People fail to realise that these Magnates are the ones who create jobs, build industries and create commerce for the Phillipines.

When Philippines eventually becomes economically sound, and wealth of other entrepreneurs catapult them into the Billion dollar mark, will everyone's attitude be the same as the 3 Billionaires we have now?

London is home to the most billionaires in the world along with New York, the British government are encouraging Billionaires around the world to make London as their haven. This is done by favourable tax system for these super rich, knowingly that their extreme wealth will contribute to the economy as a whole. It's working.

As for me, I like the motto "In China, To Get Rich Is Glorious"

No, actually that has nothing to do with it at all. Let's not forget that these countries have only a fraction of the population of the United States and land.

I'm not sure how old you are, so your simplistic economic analysis will be pardoned.

The definition of an ethnic Filipino: those who have the genetic makeup of the original inhabitants of the Philippines.

If you consider an "ethnic Chinese" or "ethnic Spanish" to be "Filipino" simply because the live in the Philippines, and therefore you call them one of your own.... those are pretty low standards. (Are you yourself ethnic Filipino, or ethnic Chinese/Spanish?)

Or put yourself in this scenario: if you were Chinese and living in China, and hypothetically all Chinese billionaires were white....would you be "proud"? I mean, at least they call themselves "Chinese," right?

Talk about a lack of real, authentic pride in being Filipino. If you were honest with yourself, you would want to assess why those not of the same origins as you are the ones who control the economic movement of your country. Are there cultural differences that determine why no ethnic Filipinos are billionaires?

In other words: Why is it that in a country that's less than 5% Spanish and Chinese, a disproportionate number of Chinese and Spanish control the wealth?

Before I continue, don't oversimplify my statements. Is it wrong that these non-Filipinos control so much wealth? No.

And believe me, I don't hate Filipinos. I consider myself one (even though I'm half). Do not equate my critique to hate.

I hate to break it to you, but those of us who are independent, critical thinkers will do far more for the Philippines than those of you who walk lockstep.

http://www.colonialmentality.netfirms.com/CM.html



I'm not sure what tax system you refer to. In America, I know we use a graduated income tax, for example. Care to describe the tax system in London?

"When" the Philippines becomes economically sound? You're far too comfortable with that notion...

You should really stop regurgitating what you hear about neoliberalism. You should read more into it and how countries like Singapore and China have become economic powerhouses. I'll give you a hint: it hasn't been from following the free market model. The matter as a whole is far more complex, with third world nations (like PI) making themselves vulnerable and less likely to economically progress through free market models.

I'll recommend a good author to start with: Professor Walden Bello, a Filipino professor. His readings are pretty dense, but if you want the truth, you'll force yourself through it.

Do I come off as cocky? My bad. It's just impossible not to come off as cocky when divulging all of this.

the best way for these uber rich old schoolers is to invest here in Philippines not in australia.
they have the money ahd they made the money here, I am not saying that they feed the poor for free, they should infuse blood to the ailing economy. Employ those who have the skills and train those who don't. And when I mean by employing, they should employ them in regular basis not cassual just to avoid higher wages and incentives.

And oh yeah pay their taxes.

"The definition of an ethnic Filipino: those who have the genetic makeup of the original inhabitants of the Philippines."

Filger, let me remind you that Filipino is not a race or ethnicity, it is a nationality. At least that's supposed to be true in the constitution. Basically it is an abstraction. America and Canada also use this "low standard" on their people. There is no ethnic Filipino here in the Philippines, what we have here is ethnic Malay, the term is not used that much but actually its a better descriptive term. When Filipinos are abroad, then these distinctions become blurred so yeah to the world they may simply say ethnic Filipino. Why am I expounding on this?

Because we Malay Filipinos are not that in tune with the fast paced, grab all you can, there's no tomorrow mindset. Go to the barrios and you will see the laidback lifestyle of our animist Malay ancestors that has been here for centuries. However, once you step in the cities, you get the feeling that everything is alien, you adopt and lo and behold you become the bitter complaining money hungry businessman.

The point is, ethnic Malay Filipinos do not give premium to money and wealth. That's the reason why there are no billionaires among us. It's a mindset actually.


"Are there cultural differences that determine why no ethnic Filipinos are billionaires?"

Yes man, its the mindset, I myself see no point in getting filthy rich. Earn some for the future, protect yourself from calamities and have some basic luxuries, that's all we need. There's more to life than money.


"Before I continue, don't oversimplify my statements. Is it wrong that these non-Filipinos control so much wealth? No."

I see bro that you also believe that there's nothing wrong with not having that much money. I beg to disagree with you though with regards to these non Filipino billionaires. They are Filipinos to me. They may be non ethnic Malay Filipinos but they live here, make money here and spend money here most of the time. So what's the point of calling them ethnic Spanish or Chinese? None.

In your world, you can consider yourself a Filipino but here, if we actually see things in pesos and centavos, these "non Filipino billionaires" are actually more Filipino to me than those pure ethnic Malay Filipinos who left the country just because they want to have other kinds of lives different from what we have here. Simply put, its immaterial to me that these Filiipino billionaires are of chinese, spanish or malay descent.

I'm not sure what tax system you refer to. In America, I know we use a graduated income tax, for example. Care to describe the tax system in London?

I mentioned London as this is where the majority of foreign Billionaires reside, but I was talking about the UK as a whole in regards attracting ultra-high net-worth individuals.
It is all to do with the distinction between residence and domicile. Britain has an unusually favourable tax regime for people who come to live here. Britons are taxed on our worldwide income, so if a Briton has property abroad, any rents have to be declared and tax paid. Foreigners, however, are taxed only on the money they bring to Britain and spend here.

It is no surprise 4 of the top 5 are NOT British. The typical billionaire pays the same tax rate as the the average teacher and nurse. There is no country in Europe that pays an upper tax rate less than 48% and consequently you just don't get the polarities we see in the UK.

What do we get out of it? (Like what I said about Filipino Billionaires who are not ethnic CAN benefit the Philippine economy)

Three things. First we get jobs. Wealth demands services at all levels, from housekeeping to investment management. That economic activity spreads outwards through the economy and is one of the reasons why inner London is Europe's wealthiest region. Thanks to the growth of service industries and international finance, the UK is now the second-richest country of the G7 developed nations, second only to the US, as measured by gross national income per head.

Second, we get skills. The mass of talented people should help secure this position as a top-end global service provider for another generation.

Third, we get influence. Because global talent chooses to locate in the United Kingdom for a period, Britain will have people who know it (and hopefully like it) in key positions around the world in the future.

But this is a system in which I woudn't embrace, especially in the Philippines, because its like moving into a feudal society again- where a rich elite own all the houses and the poor struggle to pay the rent and bills.



"When" the Philippines becomes economically sound? You're far too comfortable with that notion...

You should really stop regurgitating what you hear about neoliberalism. You should read more into it and how countries like Singapore and China have become economic powerhouses. I'll give you a hint: it hasn't been from following the free market model. The matter as a whole is far more complex, with third world nations (like PI) making themselves vulnerable and less likely to economically progress through free market models.

Excuse my brief statement "When" the Philippines becomes economically sound. It was simplistic, as the title of this thread is "Filipino Billionaires" and NOT about the "economy of the Philippines!". I say "When" because as a patriotic Filipino I secretly wish that the future is bright for my country. I don't expect the Philippines to become an economic giant with the likes of China, we all know it will take a higher, sustained growth path to make appreciable progress in the alleviation of poverty, given the Philippines high annual population growth rate and unequal distribution of income. Nevertheless, I am optimistic for a modest future, when statistics shows average GDP growth accelerated to about 5% between 2002 and 2006, high level of annual remittances from overseas workers, peso was East Asia's best performing currency in 2005-06. And with investors taking advantage of the country's improving investment climate, I hope foreign direct investments will finally gather pace. So, I am optimisic "When Philippines eventually becomes economically sound" note that I stated "economically sound" and not an economic powerhouse!? like China and Singapore as you stated!

Your recommendation of author Professor Walden Bello is much appreciated, 'take a gold star and go to the top of the class'.
Unfortunately for me, economics (or anything relating to) is not my forte so I would be an inferior trying to debate with you.



Do I come off as cocky? My bad. It's just impossible not to come off as cocky when divulging all of this.

Your not cocky at all, like I said in my previous post, I welcome constructive criticism. The process of offering valid and well-reasoned opinions will only raise and maintain standards on this forum.

If however, to up your ego?! then you have succeeded.....everyone! admire him/her.....

awaiting your reply

As a Filipino born and bred in the Philippines, I completely and wholeheartedly agree with you.

Like I stated in my previous post, I don't mind if these Billionaires are not ethnic Filipinos as long as they consider themselves Filipino, and they invest within and not outwardly.

understand business and economics. understand