TOP 10 NEW BUSINESS TYCOONS IN THE

1. Sy Siblings- $12.6B 3. Enrique Razon Jr.- $5.9B

The six Sy siblings, Teresita, Elizabeth, Henry Jr., Hans,
Herbert and Harley, inherited their fortune from their late
father Henry Sy Sr. Their combined net worth is comprised
largely of stakes held in the group's publicly traded SM
Investments and SM Prime. Today, SM is one of Southeast
Asia's largest conglomerates, with interests in department
stores, supermarkets, banks, hotels, real estate and mining.
Enrique Razon Jr. chairs International Container Terminal
Services (ICTSI), the country's leading ports operator.
International Container also has subsidiaries in the Asia-
Pacific, Eastern Europe, Africa, and the Americas. The
crown jewel of his hospitality firm Bloomberry Resorts is
the Solaire Resort and Casino in the Philippines. Razon's
Prime Infrastructure Capital, which holds his interests in
water utilities and renewable energy, filed for an IPO in
June 2022 to raise $518 million for solar and other green
energy projects.

2. Manuel Villar- $7.9B

4. Lance Gokongwei & siblings-
$3.1B

Manuel Villar chairs property developer Vista Land &

Lifescapes run by his son Manuel Paulo. The company
listed VistaREIT, a real estate investment trust, in June
2022 with an initial portfolio of 10 shopping malls and two
office towers. Villar's biggest asset is his stake in Golden
MV Holdings (formerly Golden Bria), a developer of mass
housing projects and memorial parks. He also has three
other listed entities including mall operator Vistamalls,
home improvement chain AllHome and supermarket chain
AllDay Marts.
5. Aboitiz family- $2.9B
Lance Gokongwei and his siblings, Robina, Lisa, Faith,
Hope and Marcia, inherited their fortune from their late
father John Gokongwei Jr. Their combined fortune is
derived largely from stakes held in JG Summit, which has
interests in airlines, telecom, banking, food, power and
property. Lance runs JG Summit as its chief executive
while his older sister Robina is chief executive of
Robinson Retail. Their portfolio also includes Universal
Robina, one of the country's largest F&B companies,
started by their father as a cornstarch plant in 1957. In June
2021, Gokongwei acquired a minority stake in local pizza
chain Shakey's Pizza.

Five generations of the Aboitiz family have transformed Aboitiz Equity Ventures (AEV) into one of the leading
conglomerates in the Philippines with interests in power, banking and financial services, food, infrastructure,
land and data. The family's privately-held holding company Aboitiz & Co. was founded by Paulino Aboitiz, son
of a Spanish farmer who migrated to the Philippines in the late 1800s, as an abaca-trading and general-
merchandise business. Today fourth-generation members head the family business: Enrique chairs AEV; Mikel
serves as vice chairman; Sabin is president and CEO.
 TOP 10 NEW BUSINESS TYCOONS IN THE
6. Isidro Consunji
8. Jaime Zobel de Ayala
& Siblings- $2.65B
& Family- $2.55B

Siblings Isidro, Josefa, Jorge, Luz, Maria Cristina and

Jaime chaired his family's Ayala Group until retiring in
Maria Edwina inherited their fortune from their late father
2006 when his son, Jaime II, took over. Now Jaime's 7
David Consunji. Their wealth stems from DMCI Holdings,
children control more than one-third of the $3.9 billion
one of Philippines largest property development companies,
(revenue) conglomerate. His grandfather started with a
founded by the elder Consunji in 1954. The founder's eldest
distillery in Manila, then expanded the business into
son, Isidro Consunji, is chairman and president of the firm,
banking, real estate, hotels, telecommunications and
which also has interests in mining, power generation and
education.
water services. Recovering from Covid impact, DMCI's
revenue in 2021 jumped 60% to $2.1 billion and net profit
more than doubled to $350 million.

7. Tony Tan Caktiong & family-

$2.6B 9. Ramon Ang- $2.6B

Tony Tan Caktiong is the founder and chairman of Jollibee

Food, one of the world's fastest-growing Asian restaurant
chains. Jollibee operates more than 3,200 eateries in the
Philippines and over 2,600 stores overseas. Jollibee sells
Filipino, Chinese, American and European dishes adapted
to a quick-serve and affordable format. After reporting
losses for the first nine months of 2020 due to the
pandemic, Jollibee turned profitable in the fourth quarter.
With partner Edgar Sia II, Caktiong also owns a stake in
developer DoubleDragon Corporation.
Ramon Ang is the president and vice chairman of one of
the nation's oldest conglomerates, San Miguel. Originally a
brewer, San Miguel is now a leader in food and beverages;
but the bulk of its revenue comes from power and
infrastructure businesses. He also owns a substantial stake
in Eagle Cement, which he took public in 2016. San Miguel
is proposing to build a $15 billion airport and city complex
at a 2,500-hectare location along Manila Bay. The company
has invested $1 billion to build 31 battery energy storage
systems across the Philippines with 1,000 megawatts total
capacity, slated to come onstream by 2022-year end.

10. Andrew Tan- $2.5B

Andrew Tan chairs Alliance Global, a holding company with interests in food and beverage, gaming and real
estate. The son of a factory worker, Tan built his fortune developing large apartment complexes around Manila.
Alliance Global runs Emperador, the world's largest brandy company by sales volume. Tan's son Kevin is chief
executive of Alliance Global and chief strategy officer of property developer Megaworld. Alliance Global has
earmarked 60 billion pesos ($1.1 billion) to expand its real estate, distillery and fast-food chain businesses in
2022.
 5 INTERNATIONAL NEW BUSINESS TYCOONS
1. Elon Musk- $254 billion 3. Bernard Arnault- $145 billion

In 2004, Musk became a major funder of Tesla Motors (now
Tesla), which led to his current position as CEO of the
electric vehicle company. In addition to its line of electric
automobiles, Tesla also produces energy storage devices,
automobile accessories, and, through its acquisition of
SolarCity in 2016, solar power systems. Musk is also CEO
and chief engineer of Space Exploration Technologies
(SpaceX), a developer of space launch rockets.
French national Bernard Arnault is the chair and CEO of
LVMH, the world’s largest luxury goods company. LVMH
owns brands including Louis Vuitton, Hennessey, Marc
Jacobs, and Sephora. Most of Arnault's wealth comes from
his massive stake in Christian Dior SE, the holding company
that controls 41.3% of LVMH. His shares in Christian Dior
SE, plus an additional 6.2% in LVMH, are held through his
family-owned holding company, Groupe Familial Arnault.

2. Jeff Bezos- $165 billion 4. Gautam Adani- $123 billion

In 1994, Jeff Bezos founded Amazon.com in a garage in
Seattle, shortly after he resigned from the hedge fund giant
D.E. Shaw. He had originally pitched the idea of an online
bookstore to his former boss David E. Shaw, who wasn’t
interested. Though Amazon.com originally started out
selling books, it has since morphed into a one-stop shop for
everything under the sun and is arguably the world’s largest
retailer. Amazon's pattern of constant diversification is
evident in some of its unexpected expansions, which include
acquiring Whole Foods in 2017 and entering the pharmacy
business the same year.
Gautam Adani, the founder of Adani Group, surpassed
Mukesh Ambani in March 2022 as the richest person in
Asia. Adani, via his ownership of Adani Group, owns major
stakes in six key Indian companies, including a 75% stake in
Adani Enterprises, Adani Power, and Adani Transmissions,
as well as a 65% stake in Adani Ports & Special Economic
Zone, 61% stake in Adani Green Energy, and 37% stake in
Adani Total Gas. The combined market cap of companies
owned by the Adani Group is $218.2 billion (as of August 5,
2022). Adani entered the power generation market in 2009
with Adani Power. Adani created Adani Enterprises in 1988
to import and export commodities. In 1994, his company
was granted approval to develop a harbor facility at Mundra
Port, which is now the largest private port in India.

5. Bill Gates- $118 billion

The largest software company in the world, Microsoft also produces its line of personal computers, publishes
books through Microsoft Press, provides email services through its Exchange server, and sells video game
systems and associated peripheral devices. Originally Microsoft's chief software architect, Gates shifted to the
role of board chair in 2008. He had joined Berkshire Hathaway’s board in 2004. He stepped down from both
boards on March 13, 2020. Bill Gates has much of his net worth in Cascade Investment LLC. Cascade is a