Buoyed by domestic demand and an uptick in infrastructure investments, the #Philippine economy expanded by 5.4% in the first quarter of 2025, but U.S. tariffs proved to be a spoiler. The country’s benchmark stock market index dipped 7% since we last measured fortunes, though that was partially offset by a firmer peso. As a result, the collective #wealth of the country’s 50 richest was up over 6% to $86 billion from $80.8 billion last year. The Sy siblings, heirs to the SM group built by the late retail tycoon Henry Sy Sr., retained the top spot despite their #fortune falling by $1.2 billion—the biggest drop in dollar terms—to $11.8 billion. Read more about the #Philippines’ 50 Richest 2025 at the link in our bio. (Photo: Ore Huiying/Bloomberg)