This is the ultimate proof of unequal distribution of wealth in the Philippines.
Four Pinoy billionaires in annual Forbes list - Business - GMA News Online - Latest Philippine News
Four Filipinos made it to the latest Forbes billionaire list, which has ballooned to a record 1,210 personalities in the wake of the global economic recovery.
Andrew L. Tan of diversified Alliance Global Group, Inc. and Enrique K. Razon, Jr. who heads International Container Terminal Services, Inc. (ICTSI) made their debuts after stock prices of their companies surged in 2010.They joined mainstays Henry Sy and Lucio Tan whose fortunes were both estimated to have risen by over a third to $5.8 billion and $2.3 billion, respectively, as of February 2011.
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The Philippines’ richest man, mall magnate Mr. Sy, moved up the rankings to become the 173rd wealthiest in the world.Lucio Tan -- the taipan behind the country’s largest cigarette maker, second largest beer brewer, and Philippine Airline, among other interests -- similarly rose 70 spots to 512th.Andrew Tan was in 540th with a net worth of $2.2 billion after Alliance Global -- the holding company for his real estate, food and beverage and gaming businesses -- enjoyed a tripling in value on the stock exchange in 2010.
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