August 31, 2009

Are you on this list yet?

The Philippines' 40 richest by Forbes magazine.

The biggest question, of course, is how many of them were able to land/remain on this list through their legitimate businesses and not through illicit activities. I see at least five names fitting the latter category. Ahem.

Also noticeable is that there are some folks who are below the top 10 of the Forbes list but who, in reality, have higher net worths except that, a number of their assets and investments are held abroad, under corporations that cannot easily be connected to them. I've spotted at least three names who fit this bill.

Unsurprisingly, there are also a number of super-wealthy Filipinos who are not on this list bec. most of their businesses remain privately-held and they generally keep a very low profile about their activities. A number of them reside in the provinces and go about their operations under media's radar. On the ground, some of their businesses appear small-time operations, but if you put all these together along with their other various interests, they can easily edge out a few billionaires off the Forbes list.

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