Toyota’s Ty, PGA Cars’ Coyiuto in Forbes billionaire list
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March 03,2015
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Ground breaking ceremony for Toyota Motor Philippines School of Technology (TMP Tech). GT Capital Group Chairman Dr. George S.K. Ty shakes hands with Mr. Shoichiro Toyoda, Honorary Chairman of Toyota Motor Corporation. Photo from GT Capital.
George Ty, whose company owns a majority of Toyota Motor Philippines (TMP), was ranked No. 369 in the annual Forbes list of the world’s billionaires. His fortune was pegged at $4.4 billion. TMP, the country’s leading automotive firm, is a joint venture of Ty’s GT Capital Holdings, Toyota Motor Corporation and Mitsui & Co. TMP sold more than 100,000 units in 2014, a first in the Philippines. Sales grew by 40 percent compared to 2013.
Prudential and PGA Cars’s Robert Coyiuto Jr. placed 1054th with a net worth of $1.8 billion. PGA Cars distributes the Audi, Bentley, Lamborghini and Porsche brands in the Philippines. They are all luxury brands of Volkswagen AG.
Microsoft founder and philanthropist Bill Gates was listed as the richest man in the world with a net worth of $72 billion. –with report by Aries Joseph Hegina
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