Here are the Philippines’ 50 richest of 2020—more than half of the listees saw fortunes decline amid the pandemic
, who holds a majority stake in TV network ABS-CBN, saw his net worth nearly halve to $240 million after Philippine lawmakers in July rejected the company’s bid to renew its 25-year broadcast license; the shares have lost close to 65% of their value over the past year.was this year’s biggest gainer in both percentage and dollar terms. He added $300 million, or 75%, to his net worth, which is now $700 million.
Six names dropped off the list, including Edgar Saavedra of Megawide Construction. Megawide’s shares fell by more than 65% after reporting a first-half net loss of 398 million pesos . Megawide’s cofounder
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