Henry Sy $1 billion richer in three months

MANILA, Philippines — Henry Sy climbed five places in Forbes Magazine's real-time wealth rankings as of Thursday night, a few months after the business publication released its annual listing of dollar billionaires.

Sy, ranking 92nd, now boasts an estimated net worth of $12.6 billion, making him richer by $1.2 billion in just three months. In March, his fortune was estimated to be $11.4 billion, placing him at 97th of the world's richest.

Forbes said that Sy's wealth dropped $1..8 million following a huge 30-percent drop in his holding firm SM Investments' shares the past year.

Read: Sy still wealthiest Pinoy

The lost in fortune of the mall mogul , however, appears to be recovering from last year's downtrend.

In November last year, Sy's property unit SM Land bagged a hefty $1.2 billion contract for a 300-hectare reclamation project in Pasay City. The project is expected to start next year.

The fortune of the country's second richest, Lucio Tan, meanwhile, tumbled from $6.1 billion to $5.6 billion. The 79-year-old tycoon's rank dropped 37 places from 227th in March to 264th in June.

Alliance Global Group's Andrew Tan, now 295th in the world, is also richer by $400 million since the March rankings. He climbed from being 319th richest in the world.

Tan controls casino Resorts World Manila and brandy maker Emperador Distilleries, which he made public in September through a backdoor listing, Forbes noted.