Thursday, October 16, 2008
Forbes Asia: Mall mogul is wealthiest Filipino (1:58 p.m.)
MANILA -- Forbes Asia magazine says the Philippines' biggest mall operator and his family are worth US$3.1
billion, making them the wealthiest Filipinos this year.
Forbes reported Thursday the 83-year-old Henry Sy and his family have gained US$1.4 billion from their holding company SM Investments, which has interests in a dozen companies, including the country's second largest bank, Banco de Oro Unibank.
Tobacco tycoon Lucio Tan and his family, who own national carrier Philippine Airlines, come in second with a net worth of US$1.5 billion.
Forbes says the global financial turmoil has pared the collective wealth of the Philippines' 40 richest by 18 percent to US$14 billion from US$17 billion in 2007. (AP) |
