MANILA, Philippines – Forbes magazine’s list of the 40 richest Filipinos has been the de facto reference for the country’s Who’s Who and an indicator of how the local and global economy caused a dip or spike in the individual’s or their family’s wealth.

In 2012, Forbes listed Henry Sy and his family — the group behind the SM empire — as the country’s richest 5 year in a row. The others in the Top 40 have slid down or jumped up, such as Enrique Razon who dislodged John Gokongwei in the 3rd spot.

(Read story…)