Andrew Tan on front cover of Forbes Philippines first edition

Andrew Tan, the Filipino tycoon, whose businesses include Resorts World Manila and McDonalds, graced the front cover of the first Forbes Philippines edition.

Tan, who is the fourth richest Filipino and ranked 330th in the world, has an estimated net worth of $4.8 billion. 

His businesses include property, liquor, fast food and the hotel and casino, Resorts World Manila.

Forbes Philippines is being published in the Philippines under a licensing agreement between Forbes Media and Gokongwei-led Summit Media. Its initial circulation will be 10,000 a month.

“The launch of Forbes Philippines is an important milestone for Forbes’ expansion in the Asia Pacific region. It is also timely given the Philippines’ rising economic prospects and its fast-growing community of CEOs, entrepreneurs and investors,” said William Adamopoulos, CEO of Asia of Forbes Media LLC.

Travellers International Hotel Group, the owner and operator of Resorts World Manila, reported a “robust” full year financial results with net income doubling to P5.4 billion ($120.3 million), despite a decline in gross revenue.