Forbes Magazine has released its annual list of the Philippines' richest people. SM owner, Chinese Filipino businessman Henry Sy still tops the Top 40 Richest in Philippines 2011 list. Forbes said the country's 40 richest men are now worth a total of $34 billion, up $11 billion plus from last year's $22.8 billion.

Top 40 Richest in Philippines for 2011

Top 40 Richest in Philippines for 2011
- Henry Sy $7.2 billion
- Lucio Tan $2.8 billion
- John Gokongwei Jr. $2.4 billion
- Andrew Tan $2 billion
- David Consunji $1.9 billion
- Jaime Zobel de Ayala $1.7 billion
- Enrique Razon Jr. $1.6 billion
- Eduardo Cojuangco Jr. $1.4 billion
- Roberto Ongpin $1.3 billion
- George Ty $1.1 billion
- Tony Tan Caktiong $1 billion
- Inigo and Mercedes Zobel $980 million
- Emilio Yap $930 million
- Andrew Gotianun $795 million
- Jon Ramon Aboitiz $760 million
- Beatrice Campos $685 million
- Manuel Villar $620 million
- Vivian Que Azcona $555 million
- Robert Coyiuto Jr. $400 million
- Mariano Tan $375 million
- Alfonso Yuchengco $370 million
- Enrique Aboitiz $310 million
- Oscar Lopez $280 million
- Jose Antonio $245 million
- Eric Recto $200 million
- Gilberto Duavit $190 million
- Menardo Jimenez $185 million
- Alfredo Ramos $180 million
- Betty Ang $165 million
- Felipe Gozon $163 million
- Tomas Alcantara $160 million
- Benjamin Romualdez $155 million
- Wilfred Uytengsu Jr. $150 million
- Manuel Zamora Jr. $145 million
- Jacinto Ng Sr. $115 million
- Frederick Dy $110 million
- Luis Virata $100 million
- Bienvenido Tantoco Sr. $95 million
- Eugenio Lopez III $90 million
- Edgar Sia II $85 million