Villar triples wealth, replaces Gokongwei as No. 2 richest Filipino; Lucky Me?s Betty Ang biggest loser
Former Senator Manny Villar is the biggest surprise in Forbes? annual listing of the richest Filipinos after he tripled his wealth in the last 12 months.
Villar jumped 10 spots from number 12 last year to bump off bilyonaryo John Gokongwei from the number two spot.
Forbes credited Villar?s burial business, Golden Bria, for boosting the former Tondo fish market vendor?s fabulous wealth more than eight years after he quit politics after losing in the 2016 elections.
Among the major gainers in this year?s ranking are San Miguel bilyonaryos who saw a double digit rise in their net worth: Inigo and Mercedes Zobel, up 56 percent; Danding Cojuangco, up 27 percent; and Ramon S. Ang up 24 percent.
Forbes described the last 12 months as volatile with more than a third on the Forbes 50 losing more than 20 percent of their money. The biggest loser is Betty Ang of Monde Nissin which owns the Lucky Me noodles brands. Ang shed 69 percent of her net worth to $270 million in the last 12 months. Other major losers wereMang Inasal founder Edgar Sia who lost 42 percent to $475 million; and the Megawide partners Michael Cosiquien (down 38 percent to $240 million) and Edgar Saavedra (down 36 percent to $245 million).
The top gainers among the bilyonaryos are: