Toyota’s Ty, Volkswagen’s Ayala in PH richest list of Forbes

There’s a lot of profit in rolling metal these days.

Businessman George Ty, whose company owns a majority of and operates Toyota Motor Philippines (TMP), ranked seventh on the Forbes list, with a net worth of $3.7 billion dollars. Ty’s GT Capital owns 51 percent of TMP, with Japan’s Toyota Motor Corporation owning 49 percent. TMP has been breaking sales records this year, topping the 10,000 monthly unit sales and is set to well surpass its total of 75,587 unit sales in 2013.

The company recorded P80.02 billion (around $1.829 billion) revenues in 2013, with a gross profit of P10.25 billion ($234 million). Even that is a mere footnote to his Metrobank empire. Described by Forbes as “reserved, reclusive, and buttoned up,” Ty had given the chairmanship of the group to son Arthur in 2006.

Jaime Zobel de Ayala, who recently launched the Volkswagen brand in the Philippines, ranked No. 9 on the list, with $3.4-billion net worth. Before VW, Ayala Corporation has already invested in the automotive sector with its stakes in Honda Cars Philippines and Isuzu Philippines.

PGA Cars’ Robert Coyiuto Jr. ranked 11th with a net worth of $1.8 billion. The 61-year-old tycoon distributes the Porsche, Audi, Lamborghini and Bentley brands in the Philippines. He also owns dealerships for other brands. Prudential Guarantee & Assurance, which he chairs, is one of the Philippines’ largest insurance companies.

Coyiuto also has stakes in National Grid, in which Henry Sy is an investor, and in Oriental Petroleum & Minerals. Coyiuto has partnered with Porsche AG and Don Bosco Technical Institute to train scholars, setting up the Porsche Training and Recruitment Center Asia in Manila.

Ramon Ang, who has a stake in Petron Corporation, ranks No. 32, with $380 million. Alfonso Yuchengo, whose businesses include Honda dealerships, is listed at No. 23 with $685 million.

Topping the list for the seventh year in a row is mall magnate Henry Sy and family, with $12.7-billion net worth.