The Philippines’ Successful Women and Their Wealth
It’s not new for men to dominate the rich list, but there’s no doubt that female tycoons have also made a name for themselves in their respective industries, the business community, and the society. As we end the 2021 National Women’s Month, we put women in Forbes’ “2020 Philippines’ 50 Richest” list (released Sept. 16, 2020) in the spotlight.
1. Sy Siblings
Sy sisters Teresita and Elizabeth sit on top of Forbes’ “Philippines' 50 Richest” list together with their brothers. According to the list released last September 2020, the six of them have $13.9 billion worth of combined net worth.
Teresita is the eldest child and first daughter of late retail mogul Henry Sy and one of the country's most influential female business leaders. She sits as the co-chairman of SM Investments Corp. (SMIC) and the chairperson of BDO Unibank while holding board and management positions in other SM Group companies. As of March 28, TCS’s real-time net worth is $2.5 billion.
Meanwhile, Elizabeth, the second child of the business magnate, serves as the chairperson and president of SM Hotels and Conventions. Aside from handling SM’s growth in the tourism, leisure, and hospitality industry, she is an Advisor to the Board of SMIC and a member of BDO Private Bank, Inc.’s Board of Directors. As of March 28, Elizabeth’s real-time net worth is $2.3 billion.
2. Gokongwei Sisters
After inheriting the fortune of their father John Gokongwei Jr., Robina, Lisa, Faith, Hope, and Marcia, together with their brother Lance, reached a total of $4.1 billion net worth based on Forbes’ list.
Photo credit: ph.asiatatler.com
Robina Gokongwei-Pe has long been playing a significant role in the Gokongwei empire and is currently the president and CEO of Robinsons Retail Holdings, Inc. (RRHI). Meanwhile, Lisa, the CEO and president of JGSHI’s publishing arm Summit Media, has been promoted to senior vice president of the group’s digital transformation and corporate services in late 2020. Faith, Hope, and Marcia are also presently involved in the family business, with Faith sitting as a director at RRHI, Hope as a part of Robinsons Appliances Corp., and Marcia holding a position at Universal Robina Corp.
3. Susan Co
With a combined net worth of $1.7 billion, Susan Co was able to break into Forbes’ billionaire list with her husband, Lucio. The couple was behind Puregold Price Club, a powerhouse supermarket chain in the Philippines, and Cosco Capital, Inc., one of the fastest-growing multifaceted companies in the country. Susan is among the top executives of both companies and is holding key positions in the Philippine Bank of Communications and several private companies.
4. Mercedes Gotianun
Another lady boss originally a part of a husband-and-wife tandem, Mercedes Gotianun enters the rich list for the fifth time with a $1.5 billion net worth.
Photo credit: Filinvestlife.com
Mercedes co-founded Filinvest Group and East West Bank with her husband, late Chinese-Filipino tycoon Andrew Gotianun Sr. As of today, the matriarch of the Gotianun family sits as the chairman emeritus of the Filinvest Development Corp., and is proud to have reached this level of success through discipline, frugality, hard work, and perseverance.
5. Ty Sisters
Despite not having their personal wealth disclosed, Metrobank’s Ty sisters, Alessandra and Anjanette, made it to Forbes’ list alongside their brothers with a combined net worth of $1.4 billion.
Previously the assistant treasurer of GT Capital, Alessandra was elected as a director of the company last June 5, 2020. Anjanette, on the other hand, has been GT Capital’s treasurer since May 2015. Both of them currently hold key roles in the company’s subsidiaries and the family’s other businesses.
6. Vivian Que Azcona & Siblings
Alongside her siblings, Vivian Que Azcona enters the richest female executives list in the Philippines again with $1.34 billion combined wealth as of September last year.
Under her leadership, the Philippines’ leading pharmacy retail business, Mercury Drugs, has grown into a network of more than 1,000 stores nationwide with the largest number of pharmacists and the largest number of absorbed pharmacy student interns.
7. Consunji Sisters
Consuji’s DMCI was among the companies that took a hit due to the pandemic, but the Consunji sisters managed to place 14th in Forbes’ list together with their brothers Isidro and Jorge with a combined net worth of $1.3 billion.
Josefa, Luz, Maria, and Cristina all play a significant role in the family’s empire, holding key positions in the DMCI Holdings, Inc. and the Semirara Mining and Power Corporation (SMPC).
8. Jocelyn Campos-Hess
The heir to the United Laboratories, Inc. fortune, Jocelyn Campos-Hess ranked 23rd in the rich list together with her siblings with $600 million combined net worth. Today, she sits as the chairman of the board at Unilab while her son, Clinton, sits beside her as the company’s president, CEO, and vice-chairman of the board.
9. Betty Ang
With a net worth of $185 million, mysterious millionaire Betty Ang makes the cut yet again for the 10th consecutive year. Up to this day, little is known about her aside from being the president and founder of global food and beverages company Monde Nissin.
10. Juliette Romualdez
Photo credit: philstarlife.com
Widely known as the widow of late Filipino politician Benjamin “Kokoy” Romualdez, Juliette has been among the richest since June 2012. The millionaire’s $160 million net worth as of September 2020 consists of her minority stake in Banco de Oro (BDO) in 2012 and a small stake in Benguet Corporation, the Philippines' oldest mining company.
We’ve seen progress in the modern world of business with more women making waves in the workplace and their careers. From self-made billionaires to successors, women proved that their role is no longer limited to handling the household because, just like men, women can lead.
The views and opinions expressed in this article do not necessarily reflect the official policy or position of any mentioned entity.
Sources:
Forbes: Philippines' 50 Richest
https://www.forbes.com
SM Investments Corp.
https://www.sminvestments.com/
SM Prime
https://smprime.com/
JG Summit Holdings, Inc.
https://www.jgsummit.com.ph/
Cosco Capital, Inc.
https://www.coscocapital.com/
Filinvest Development Group
https://www.filinvestgroup.com...
GT Capital Holdings, Inc.
https://www.gtcapital.com.ph/
DMCI Holdings, Inc.
https://www.dmciholdings.com/
Semirara Mining & Power Corp.
http://www.semiraramining.com/
Unilab
https://www.unilab.com.ph/
The Wall Street Journal
https://www.wsj.com/
