Marcos urges Filipinos: Be conveyors of truth

At No. 8 is Lance Gokongwei with a net worth of $1.4 billion. Gokongwei, the only son of the late taipan John Gokongwei Jr., is the CEO of JG Summit Holdings, a conglomerate with interests that span food and beverage, real estate, airlines, telecommunications, power and electricity distribution.

Fast food tycoon Tony Tan Caktiong, with a fortune of $1.2 billion, is the country’s 9th richest man.

Caktiong is the founder and chair of Jollibee Foods Corp., a fast-food giant with over 6,400 stores around the world.

At No. 10 is Iñigo Zobel with a fortune of $1 billion.

Zobel’s fortune comes from his stake in San Miguel Corp, where he sits as board director. He also has a stake in the country’s oldest conglomerate, Ayala Corp., which is controlled by his relatives.

According to Forbes, French luxury goods tycoon Bernard Arnault tops the world’s billionaires ranking for the first time, with an estimated net worth of $211 billion. He dislodged American tech billionaire Elon Musk, who dropped to the No. 2 spot with a net worth of $180 billion. The latest Forbes rich list counted 2,640 global billionaires, down from 2,668 last year, with a combined net worth of $12.2 trillion. g