RP's Richest

Henry Sy, founder and chairman of the SM group of companies, has been named the Philippines wealthiest man, according to the Forbes Asia 2008 Philippines Rich List. Sy, who ranked second in last year's Forbes list, has an estimated net worth of US$3.1 billion. In second place is business tycoon Lucio Tan and family with a net worth of $1.5 billion, down by $100 million from last year.