Who are the wealthiest people in the Philippines?

The 2014 Forbes Billionaires List disclosed that there are at least 1,645 billionaires around the world today whose aggregate net worth is $6.4 trilion. On top of the list is Bill Gates with $76 billion worth followed by Carlos Slim Helu of Mexico with $72 billion worth. 

SM magnate Henry Sy made it to the list with an estimated $11.4 billion worth according to reports. He also topped the list of the wealthiest persons in the Philippines followed by Lucio Tan with a reported net worth of $6.1 billion. Andrew Tan of Mega World and Alliance Global Group and Enrique Razon, Jr. with estimated net worth of $4.7 billion and $4.2 billion respectively. John Gokongwei Jr made it fifth in the list with a net worth of $3.9 billion (see: <http://business.inquirer.net/165345/businessman-henry-sy-crashes-into-forbes-100-richest-people-in-the-world#ixzz2v8M9G9hf>).

The list of the wealthiest people in the Philippines does not change much for the past few years. Today, it is Henry Sy who comes first. Tomorrow, Lucio Tan may come ahead of him. The year after, it may be Enrique Razon, Jr., or some other rich fellow down the scale. Indeed, it is like a classroom competition among the few gifted students who are all in for the challenge to be on top of the class. No new names join the list in the last few years. These gifted few continue to rake bountiful harvests regardless of what is happening in the world around them.   

Most of these rare individuals did not come from the traditionally known “Hacienda clans” in the Philippines. They are generally regarded as business patriarch who made names in their respective industry. Notably, many of them have Chinese lineage. They were assimilated immigrants who came to the Philippines to make a living.   Now, it seems that more than three-fourth of what could be termed as “gross domestic product” refers to the gross receipts that they turn in every year. They are the richest in the country and the most economically powerful. Their influence in public affairs cannot be quantified even if they have to disclose the digits that they contribute to politicians’ chests during elections. 

The listing was made not for the benefit of the public of course. Aside from those whose names appear and those aspiring to be included therein, only the tax authority may find the list relevant.  To us who become billionaires only in our nightmares, the list is not but trash—it cannot make us rich or make our life better. But what it implies is more than what we know about the present state of our country.  Looking at the names and putting them in the context of widespread deprivation and poverty would reveal the truth that while more than seventy-percent of our people are suffering from lack of food, shelter, medical care and education, a less than one-percent of our population enjoys more than eighty-percent of the wealth and resources of the society.  This is the sad truth that the list of the wealthiest and the most powerful implies.   

Oh, if the wealthiest can have the magnanimity of the most righteous and benevolent of all, then, the world will be better place to live in. With all the resources and power in the hands of those who are considered the wealthiest, they can change the course of history and make the lives of other people better. They can shape the patterns of society to make it more equitable and humane. They can stop the decay of civilization and reboot the engine of social progress. This is the awesome possibility of wealth with conscience--the noblest mission that any person of wealth can have!