Tuesday, March 17, 2009

Pinoy Billionaires

Mall mogul Henry Sy and Tobacco king Lucio Tan move up in their rankings in Forbes Magazine's 2009 billionaires list.

Last year world's billionaires was 1,125 now down to 793, from their net worth of $4.4 trillion to $2.4 trillion.

Sy leapt from 843rd spot last year to 234th in this years list while Tan from 785th jumped to 522nd.
The Family Sy net worth increased from last year's $1.4 billion to $2.7 billion this year while Tan's net worth decreased from last year's $1.5 billion to $1.4 billion.

Sy and Tan were the only pinoy who made it to the Forbes Magazine 2009 list of billionaires. Sy the founder and chairman of the SM group of companies. The 84 year old mall magnate and his family control SM investments, While the 74 year old Tan and his family have holdings that include the hation's biggest cigarette maker, Fortune Tobacco, Philippine Airlines, Asia brewery, mining operations and Hong Kong properties, both were also ranked in Forbes Billionaires list in 2006, 2007, and 2008.

Bill Gates of Microsoft is the richest man again, overtaking Warren Buffet, as the global financial meltdown wiped out $2 trillion from the net worth of the world's billionaires.

The number of billionaires in the world fell by nearly a third to 793 in the last year , with the large numbers dropping off the list in Russia, India and Turkey. Gate regained his title as the richest man in the world with $40 billion, after slippin to third last year when he was worth $58 billion. Buffet last year richest man fell to second when he $37 billion, down from $62 billion. Mexican Carlos Slim a telecommunications tycoon in the third place with $35 billion, down from $60 billion.

New York City replaced Moscow as home to the most billionaires, with 55. Russia, which saw the number of super rich soar in recent years, suffered among the biggest shocks, with the number of billionaires down to 32 from 87.

The only person in the top 20 who did not lose money was New York Mayor Bloomberg, whose net worth was revised up to $16 billion from $11.5 billion last year because os a revaluation of his media company, Bloomberg LP, He is now the New York richest man, jumping from 65 in the world to 17.

Others who manage to get richer were investors George Soros and Ronald Perelman, as well as short-seller John Paulson, who has profited from the fall in financial stocks, and entertainer Oprah Winfrey who jumped to 234 from 462.

Another discount retailer riding out the storm was Japan's Tadashi Yanai. His firm Fast Retailing, known for its uniqlo stores, helped pushed him from 296th to 76th and raise his wealth to $6 billion from $3.6 billion last year.

Among those conspicuous by their absence from the list was Facebook founder Mark Zuckerberg, one of last year's stars when he became the youngest self-made billionaire to make the list.

Also dropping were big name casualties, former American International Group chief executive Maurice "Hank" Greenberg and former Citigroup chief executive Sanford Weill.

Allen Stanford, the Texan accused of an $8 billion fraud by US regulators, was also booted off the list.

Crime, however did not disqualify one notable new entry to the list - mexican drug lord Joaquin :Shortly" Guzman, who is among the world's most wanted men and now worth $1 billion.

Manny "Pacman" Pacquiao steps up training

Manny always step up more rounds when Freddie Roach is not around to assist His training. At the Wild Cards Gym Manny mitts Buboy Fernandez turned out an almost 10-rounds non-stop session instead of four rounds.

With Roach out, Pacquiao called the shots.
That is the problem with the Pinoy Icon. The supposed to be only four rounds, Manny wanted more rounds, that's Manny's reputation of always asking for more during His training, He just won't stop.

China Dialogue on Spratlys

China is pushing Dialogue on the South China Sea as well as greater cooperation in its disputed areas.

Ambassador Liu Jianchao made a courtesy call on Foreign Affairs Secretary Alberto Romulo, His country filing a protest on against Presedent Arroyo's signing into law of Republic Act 9522 or the Philippine Baseline Act.

RA 9522 excludes Scarborough Shoal and the Kalayaan group of islands from the country's teritory but classified as a "regime of Islands" under the Republic of the Philippines.

Under the UN convention on the Law of the Seas, archipelago nations like the Philippines must have definitive baseline laws by May 13.

Liu said His country is always ready to enhance trade relations with the Philippines, particularly in mining and infastructure. Liu added that China also wants more cultural and educational exchanges.

In 2010, China and Philippines will celebrate 35 years of bilateral relations.

Liu thanked the Philippines for hosting the visit of 100 school children from the earthquake ravage Sichuan province. The children and their families deeply appreciated the warmth display by their Filipino hosts.

In protest of the Baseline Act, Chinese Embassy said the inclusion of the disputed Kalayaan Islands and the Scarboruogh Shoal in the Philppine territory is "illegal" and "invalid."

Under the baseline Act the Philippine territory become smaller than the original Philippine territory.

The Philippine government lawmakers continue to defend the Baseline Bill amid China's protest.