On August 7th, Forbes officially announced the 2025 list of the "Top 50 Richest in the Philippines," with the gaming industry giants continuing to dominate the top spots, highlighting the casino sector's leading role in the country's wealth structure. Several entrepreneurs involved in gaming not only saw steady growth in their assets but also held core positions on the leaderboard.
The list was topped by the Sy family, whose total assets reached $11.8 billion (approximately 86 billion RMB), a decrease of $1.2 billion from last year, but still with a significant lead. The family are heirs to the late business tycoon Henry Sy Sr., and their company Belle, in partnership with Melco Resorts, developed the "City of Dreams Manila," a key symbol of the Philippine gaming industry. Currently, Belle has paused the expansion of its online gaming business due to unclear regulatory policies.
Ranked second is Enrique Razon Jr., a titan in both the port and gaming sectors, whose net worth increased to $11.5 billion, up $400 million this year. He leads Bloomberry Resorts, which operates the "Solaire Resort & Casino," and has recently established "Solaire North" in Quezon City, continuously expanding his gaming empire.
The third spot is held by real estate mogul Manuel Villar Jr., with a net worth of $11 billion, up $100 million this year. This year, he announced that he would independently push forward a new casino development project in Manila, officially entering the gaming industry and moving away from reliance on foreign partnerships.
Some tycoons fell off the list due to project setbacks or changes in the regulatory environment. Dennis Uy, who was ranked 41st last year, did not make the list this year as his development of the "Emerald Bay" project in Cebu has been long stalled, and his parent company Udenna is under severe pressure.
Andrew Tan also slipped from 13th to 15th place, with his net worth dropping to $1.65 billion. He is a major shareholder of Resorts World Manila, and despite its prime location, he could not avoid a shrinkage in assets.
Overall, this year's list of the wealthiest in the Philippines highlights the continued stability of gaming, real estate, and family inheritance as cores of wealth, and also reflects how regulatory policies and enforcement efficiency have become significant variables affecting wealth rankings.