Former politician and now a full-time real estate businessman Manny Villar rose to the second spot in the 2018 Forbes Philippines Rich List with a net worth of $5 billion, following the country’s richest man for 11 years, SM Investments Corp. chairman Henry Sy with $18.3 billion net worth.
Tripling his $1.7 billion net worth last year, Villar was hailed as this year’s second richest man, leaving JG Summit founder John Gokongwei Jr. in the third spot with $4.4 billion net worth.
In a report by Forbes, Villar’s Golden Bria shares climbed at 1,300% in the first quarter, “as a profitable business in burial services was joined with a new Villar vehicle for developing housing projects and condos for middle-class families.”
Meanwhile, Ayala Grop’s Jaime Zobel de Ayala earned the 4th spot with $4 billion, and Solaire Resort’s Enrique Razon, Jr. made it to the 5th spot with $3.9 billion net worth.
See the full list here.
(Photo source: Facebook – @mannyvillar / forbes.com)