Philippines’ Wealth Titans: Meet the 50 Richest Filipinos of 2025

Despite inflationary jitters, global trade tensions, and a sluggish stock market, the Philippines’ richest have grown even wealthier in 2025 — a testament to their enduring dominance in a fast-evolving economy. The combined net worth of the country’s 50 richest individuals and families rose 6% to $86 billion, according to the latest Forbes Asia ranking, driven by steady consumer demand, a resilient peso, and a record surge in infrastructure development.

At the Top, Still SM

Leading the pack are the Sy siblings, heirs of the late Henry Sy Sr., whose business empire — spanning malls, banking, property, and logistics — remains unrivaled. Their collective fortune hit $11.8 billion, keeping them at No. 1 despite a $1.2 billion dip from last year. The SM Group continues to be a bellwether of the domestic economy, benefiting from a growing middle class and a consumer-driven rebound post-pandemic.

Razon Closes the Gap

Hot on their heels is Enrique Razon Jr., whose logistics juggernaut, International Container Terminal Services Inc. (ICTSI), and blooming casino operations pushed his net worth to $11.5 billion. The slight gap between the two moguls hints at a possible shake-up at the top if Razon’s expansion trajectory continues at its current pace.

Real Estate Royalty and Old Guards

Real estate tycoon Manuel Villar kept his third-place position with $11 billion, riding on the back of rising land values and urban migration. Meanwhile, Ramon Ang of San Miguel Corporation held firm in fourth with $3.75 billion, thanks to his diversified holdings and massive infrastructure investments.

The Consunji siblings, known for their DMCI construction empire, rounded out the top five at $3.7 billion.

Other stalwarts in the top ten include:

• Que Azcona family – $3.6B (fashion & retail)
• Zobel de Ayala family – $3.4B (diversified)
• Lucio Tan – $3.2B (tobacco, banking, and airlines)
• Lucio & Susan Co – $3B (retail)
• Tony Tan Caktiong & family – $2.9B (Jollibee Food Corp.)

New Movers, Familiar Names

Tech and telecom players like Dennis Anthony & Maria Grace Uy of Converge made their mark with $1.6B, while Andrew Tan maintained his presence at $1.65B, reflecting a steady return in diversified holdings.

Notably, Sylvia C. Wenceslao joined the ranks this year with $275 million, representing a growing number of female-led fortunes in real estate.

Macro Trends Behind the Surge

Despite a 7% dip in the local stock index this year, the peso’s strength and a 5.4% GDP growth in Q1 helped shield domestic billionaires from broader global shocks. Analysts say infrastructure projects under both private and public initiatives created spillover wealth for construction, cement, logistics, and even food and beverage sectors.

A Tale of Old Money and New Moves

The list underscores the enduring dominance of conglomerates and families who’ve built dynasties over generations — but also highlights a new class of entrepreneurs expanding into fintech, clean energy, and digital infrastructure.

With the Philippines poised to remain one of Southeast Asia’s fastest-growing economies, expect further reshuffling in the years to come — and perhaps, a closer contest for the top spot.

Philippines’ 50 Richest 2025