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Wednesday, November 6, 2013

PH'S RICHEST MAN MORE WEALTHY THAN SAMSUNG AND NEWS CORP EXECS!

MANILA - Mall tycoon Henry Sy has cemented his position as the Philippines' richest man after he landed on Bloomberg Markets magazine's ranking of the world's wealthiest men and women -- the only Filipino to make it to the list.

In a statement, Bloomberg Markets magazine said Sy -- whose empire spans the retail business, banking, property and resort development -- landed on the 72nd spot with a net worth of $13.3 billion, ahead of the likes of Australian media mogul Rupert Murdoch, who ranked 86th, and South Korea's Lee Kun Hee of tech giant Samsung, who placed 99th.


Topping the list of the world's billionaires is Microsoft founder Bill Gates, who has a net worth of $72.9 billion, followed by Mexican telecom czar Carlos Slim ($65.5 billion), Amancio Ortega of Spanish retailer Inditex ($61.9 billion) and legendary investor Warren Buffet ($58.2 billion).

Sy also topped Forbes magazine's list of the Philippines' billionaires. He founded SM, the country's largest chain of shopping malls, and the biggest bank, Banco De Oro. Recently, the Sy familly consolidated their property businesses under SM Prime Holdings Inc, the company responsible for building and operating the malls.

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