In 2006, Forbes’ Magazine called the Philippines’ 40 Richest the “booby prize” group because when compared to their brethren in Indonesia, Malayasia, Singapore and Thailand, wealthy Filipinos are the poorest. They had the smallest total net worth, $16 billion; fewest number of billionaires (only three); and lowest minimum net worth, a mere $25 million. Well, in moments like these, it’s good to look to Thomas Jefferson’s wise words: “I like the dreams of the future better than the history of the past.”

Last year, 2007, the top 40 raised their net wealth to $17 billion. Chief among those is the Zóbel de Ayala clan whose family originated from northern Spain’s mountainous region of Álava. Here’s a bit of trivia, the clan has been residing in the Philippines for more than 20 generations and yet they have maintained true to their Spanish bloodline! To see the rest of the movers and shakers, whom we are sure you are already well acquainted with, ago to Pinoy Money Talk to see the details on the list!