Most Affluent Figures in the Philippine Fashion and Beauty Sector – Forbes list

The Sy siblings maintain their position on the Forbes Philippines’ richest list, leading with a net worth of $13 billion, slightly down from $14.4 billion in 2023. Their wealth originates from a modest shoe business called Shoemart, which evolved into one of Southeast Asia’s most powerful conglomerates. SM Retail, led by Teresita Sy-Coson, controls various supermarkets and retail brands, including stakes in Forever 21 and Uniqlo.

Jaime Zobel de Ayala and family are ranked eighth this year, with their net worth decreasing to $2.6 billion from $2.8 billion last year. As the owners of Ayala Corporation, the oldest major conglomerate in the Philippines, they hold investments across multiple industries, including fashion retail. They expanded into e-commerce by acquiring a 49 percent stake in Zalora Philippines in 2017.

Lance Gokongwei and siblings are ranked 11th in 2024, with a net worth of $1.9 billion, down from $3 billion in 2023. Their conglomerate, which spans several industries, also controls Robinsons Retail, under the leadership of Director, President, and CEO Robina Y. Gokongwei-Pe. The company’s portfolio includes lifestyle sneaker brand Sole Academy, along with beauty brands like Shiseido, Benefit Cosmetics, and Clé de Peau Beauté.

Here’s the full list of the 16 Filipino billionaires for 2024:

1. Sy siblings – $13 billion (Diversified)
2. Enrique Razon Jr. – $11.1 billion (Logistics)
3. Manuel Villar – $10.9 billion (Real Estate)
4. Ramon Ang – $3.8 billion (Food and Beverages)
5. Isidro Consunji and siblings – $3.4 billion (Construction and Engineering)
6. Tony Tan Caktiong and family – $2.65 billion (Food and Beverages)
7. Lucio Tan – $2.65 billion (Diversified)
8. Jaime Zobel de Ayala and family – $2.6 billion (Diversified)
9. Lucio and Susan Co – $2.3 billion (Retail)
10. Aboitiz family – $2.2 billion (Diversified)
11. Lance Gokongwei and siblings – $1.9 billion (Diversified)
12. Ty siblings – $1.85 billion (Finance and Investments)
13. Andrew Tan – $1.8 billion (Diversified)
14. Vivian Que Azcona and siblings – $1.7 billion (Retail)
15. Po family – $1.65 billion (Food and Beverages)
16. Soledad Oppen-Conjuangco and family – $1 billion (Diversified)