The Sy siblings – heirs to one of the biggest conglomerates in the country, SM Investments Corporation – are still the Philippines’ richest in 2024, according to Forbes Asia.
Full story: https://www.rappler.com/business/sy-siblings-philippines-riches-forbes-asia-2024/
Full story: https://www.rappler.com/business/sy-siblings-philippines-riches-forbes-asia-2024/
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00:00The Cee siblings, heirs to one of the biggest conglomerates in the country, SM Investments
00:05Corporation, are still the Philippines' richest in 2024, according to Forbes Asia.
00:10That despite their combined net worth inching down to $13 billion from $14.4 billion in
00:152023.
00:16Port's billionaire Enrique Razon Jr. ranks second for the first time, thanks to dollar
00:21gains and global trade rebound.
00:23Lance Gokongwe and his siblings, who ranked seventh in 2023, don't make it to the top
00:2710 list in 2024.
00:30But Puregold's Lucio and Susan Koh make it to the list this year.
00:33The country's top 50 richest have a combined wealth of $80.8 billion.
00:38Meantime, the country's gross domestic product grew by 6.3 percent in the second quarter
00:43of 2024.
00:45This figure beats the 5.8 percent GDP in the first quarter and is also much higher than
00:50the 4.3 percent in the same period last year.