The Philippine Online Chronicles

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Economy and finance magazine Forbes released a new list of The Philippines' 40 Richest with mall magnate Henry Sy topping the list. The family-owned SM Investments have interests in banking, retail, property. Sy's personal worth is $3.8 billion , more than double the net worth of Philippine Airlines (PAL) owner Lucio Tan at #2 .

Other names in the list are Jaime Zobel de Ayala of Ayala Corp. (#3 ), Tony Tan Caktiong (#6 ) founder of fast-food company Jollibee, and Eduardo "Danding" Cojuangco Jr. of San Miguel (#7 ).

Senator and possible 2010 presidential candidate Manny Villar came in at no. 9 . He owns the largest share in Vista Land & Lifescapes and Polar Property Holdings.