“Buy when everyone else is selling and hold until everyone else is buying. That’s not just a catchy slogan. It’s the very essence of successful investing.”
Billionaires made their money from their investments, that’s a fact the most of us aren’t aware of. Investing in more companies and getting bigger returns is the key in being wealthy, if you are smart enough to play the game of course! Recently, Forbes Magazine released its list of the World’s Billionaires, some inspiration to get you pumping, here is the Philippines’ own top ten billionaires for 2014.
#10 Andrew Gotianun, 86
Net Worth: $1 Billion
Main Company: Filinvest Development
Source of Wealth: Real Estate, Banking
From #17 last year, Andrew Gotianun maintained his net worth at $1 billion, which is mainly from Filinvest Development, which is estimated to be at 90%. He serves as the Chairman and President of Pacific Holdings Corporation, founded the Filinvest Group of Companies and serves as a Chairman for Filinvest Alabang and EastWest Banking Corporation.
#9 Robert Coyiuto, Jr., 61
Net Worth: $1.5 Billion
Main Company: Prudential Guarantee & Assurance
Source of Wealth: Power
Another gainer for this year is Robert Coyiuto Jr., who was previously at #12. His assets are mostly from his stocks at the National Grid Corporation, a power transmission company in the Philippines. His father, Robert Coyiuto Sr, was a veteran of the insurance industry who built the Prudential Guarantee & Insurance Company, which is one the Philippines’ largest insurance company today. He owns PGA Cars, a distributor of luxury cars, brands like Porsche, Audi, Lamborghini and Bentley.
#8 Tony Tan Caktiong, 61
Net Worth: $1.7 Billion
Main Company: Jollibee Foods
Source of Wealth: Fast food
Where else in the world can McDonalds, be not the number one fast food chain? In the Philippines, of course! Tony Tan Caktiong started his empire in 1975 with two small ice cream parlors. Currently he has a number of fast food chain around the world totalling of a nearly 2,700 stores. And in the future, the company is exploring the Middle East for expansion.
#7 George Ty, 81
Net Worth: $2.3 Billion
Main Company: Metrobank
Source of Wealth: Banking
Metrobank is the Philippines’ second biggest lender, only after BDO. He also holds shares in GT Capital that has investments diversified in the real estate, power and banking operations. He moved from the 9th place to 7th place, this year. Ty also has investments in Toyota Motor Philippines, Philippine AXA Life Insurance.
#6 David Consunji, 92
Net Worth: $2.7 Billion
Main Company: DMCI
Source of Wealth: Construction
From last year’s #8, the construction magnate David Consunji soared to the #6 spot as the demand for real estate in the Philippines increases. David started his career as a concrete inspector and founded DMCI in 1954 in Manila. DMCI’s notable clients are the Philippine government, were responsible for NAIA Terminal 1 and the Sultan of Brunei’s palace.
#5 John Gokongwei, 86
Net Worth: $3.9 Billion
Main Company: Cebu Pacific
Source of Wealth: Aviation
The founder of JG Summit has investments ranging from airlines, telecoms, property developments, banking, hotels and power generation. The IPO of Robinsons Retail Holdings, raised over $620 million, the largest since 2013.
#4 Enrique Razon, 54
Net Worth: $4.5 Billion
Main Company: International Container Terminal Services
Source of Wealth: Ports and Casinos
When he inherited his father’s company in 1995, International Container Terminal Services became a global player operating in 27 ports across 19 countries. Parts of his wealth are from casinos he built particularly Solaire Resort and Casino in Manila Bay. Expect that in the next 10 years that Razon will be in the Top 10 with the continuing rise of Asia’s economy, gambling in a particular is a rich man’s past time.
#3 Andrew Tan, 61
Net Worth: $4.6 Billion
Main Company: Alliance Global Group
Source of Wealth: Food and Beverage, Real Estate and Gaming
He owns several rights to operate casinos, namely Resorts World and Genting from Hong Kong. Another company he manages is the Emperador Distilleries, which is the biggest producer of brandy in the world which he made public in 2013.
#2 Lucio Tan, 79
Net Worth: $7.5 Billion
Main Company: Asia Brewery
Source of Wealth: Food and Beverage, Real Estate and Consumer Goods
Asia Brewery is the maker’s of the popular Beer na Beer which is owned by Lucio Tan. Apart from beers, he also owns stakes with Philip Morris Fortune Tobacco, which has 80% of the Philippine’s market share in the cigarette category. He also owns stakes with the Philippine National Bank and previously Philippines Airlines until sold to San Miguel Corporation.
#1 Henry Sy, 89
Net Worth: $11.4 Billion
Main Company: SM Prime Holdings
Source of Wealth: Real Estate and Banking
The Philippines’ richest person, Henry Sy is a the Mall King, with over 50 malls in the country and a few overseas. Besides being a Mall King, he is also the owner of Banco de Oro (BDO), the biggest bank in the Philippines in terms of assets. He started his career as a shoe store salesman in Quiapo and build his way up.
2013 was a year of leaps and bounds for the Philippines, the stock market reached its all time high index of 7,403.65 and a Gross Domestic Product (GDP) of 7.2%. Robust growth in the real estate and manufacturing sector contributed to this growth, with these more infrastructure and buildings are constructed, development awaits – especially for our local billionaires who made it to Forbes Magazine’s richest.
For your retirement and other real estate needs, please visit http://www.gregmelep.com.
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