Number of 🇵🇭 $ millionaires in 2020

[hope088]

@tdh86 I think the list is based on best effort publicly available data.

In truth the studies are made for ballpark figure to gauge whether it is worth Credit Suisse's time to do business here or not.

At ~81,000 $1 millionaires there is a large-ish market for wealth managers.

 

[etxn1960]

@tdh86 Yeah there are families that own private companies and thousands of hectares of land totalling billions of dollars. Dont show up on any lists.

 

[prezil]

@etxn1960 What about those who own nothing but control everything?

 

[brianmacbadger]

@tdh86 Can't access the Credit Suss report at the moment as I'm on the road but I would think the Investopedia defs won't apply there? Net worth typically isn't only about liquidity. Too much liquidity can be a bad thing -- I mean with interest rates and the stock market performance lately and all.

 

[rskovride]

@tdh86 No one will ever know if it’s a private company because of bank secrecy laws.

At the same time no one can find all land owned if it’s owned by a single family under multiple corporations.

 

[yarndiva]

@hope088

2021 first semester poverty statistics

As reported by the Philippine Statistics Authority (PSA) today, the poverty incidence among the population increased to 23.7 percent during the first half of 2021 from 21.1 percent in the same period of 2018. This translates to 3.9 million more Filipinos living in poverty.

The First Semester 2021 poverty incidence among population, or the proportion of poor Filipinos whose per capita income is not sufficient to meet their basic food and non-food needs, was estimated at 23.7 percent. This translates to 26.14 million Filipinos who lived below the poverty threshold estimated at PhP 12,082, on the average, for a family of five per month in the first semester of 2021.

Wala lang.

 

[hope088]

@yarndiva

https://www.reddit.com/r/Philippines/comments/px4jhx/_/hel94il

If I was part of Forbes Philippines' 50 Richest I'd provide conditional cash transfers (CCT) to the top 1 million public K-12, Uni & Grad students for the purpose of ending the cycle of poverty. As another qualification their parents must individually make less than ₱250k/year.

As I am providing the ayuda these would be my conditions when applicable

• If at the time they accept the CCT they have more than 3 children then the couple must voluntarily stop having children permanently. If you need ayuda for 1-3 kids then you have no business having any more.
• If at the time they accept the CCT they have less children before the scholarship than that then they must delay having the optional 1-2 children after graduating from the scholarship, working & getting married
• After marriage the couple must birth space by ~50 months apart the couple's annual income must have an increment of ₱1 million per child. So if they want 3 kids as a couple they must make a total of ₱3 million or more per year.
• Either couple cannot have more than 3 living biological offspring
• They must take and ace financial education course to learn about investing beyond household budgeting & savings account.
• No children before getting married
• No marriage before graduating from a STEM course
• Must have a smart & professional looking clothing and physical appearance
• Piercings, tattoos and other body mods cannot be paid for with my ayuda. They must be hidden from eyesight with standard clothing and not impact your physical health negatively.
• Ideally work for 2+ years between graduating & marrying to save up & invest
• Keep a GPA at a top 10% percentile or ideally Dean's Lister. Bonus if they graduate top of their graduating class/batch and graduate early
• No vices like shabu, drugs, marijuana, tobacco, alcohol, other controlled substances, gambling, gaming, etc
• Must eat clean, workout, sleep early & long.
• Submit to an annual medical exam. This is for the purpose of preventive medicine that tend to cost near to zero. If you fail due to cheating then conditional cash transfer ends and you owe me money. It is also cheaper to have preventative measures done.
• The ayuda covers a full ride K-12, Uni & Grad scholarships that leads to high paying STEM jobs. This includes tuition, books, fees, room and board, laptop, smartphone and possibly even living costs.
• If your grade gets you into studying abroad like a Ivy League STEM course then I'd fund it.
• Those who benefit from this CCT will be obliged to helping their parents or relatives with a per person ₱250 thousand per year ayuda for the last 18-25 years of these poor relatives lives. This is so I do not end up helping people until I die.
• This CCT is good for the 1st 18-25 years only. This is not perpetual charity. You gotta work but I hopefully gave you skills to have a more than ₱250 thousand per pay day individual income.
• You can be a white collar or blue collar migrate worker but ultimately you need to settle in the Philippines to help with good governance & nation building. This is to avoid brain drain.

For non-STEM students there are alternative scholarships that do not involve me.

I want to expand the individual income tax base that pays their fair share of income tax from the current top ~20% of all Pinoy adults to the top ~80% of all Pinoy adults.

 

[rosemaryduncan]

@hope088 Need ko nalang ng 995k para maging top 0.072%. San po pwede mag loan neto?

 

[ndesandre]

@rosemaryduncan liquid asset minus debt? so wala din?

 

[rskovride]

@hope088 If this is just based on liquid assets then there’s probably more out there.

Remember, they can only count what’s publicly disclosed. Land holdings owned by private companies are not seen.

 

[metaman]

@hope088 included ba dito mga ofw or filipinos living abroad?

 

[anavalanche]

@metaman OFWs rarely saves 1m USD. Feel ko mas malaki pa percentage sa local.

 

[curiouswes]

@metaman Unlikely. The only OFWs who have that much of cash would be the very successful ones working as VPs or GMs of big MNCs. For normal OFWs in Asia, usually the moment they have around $100k, they return home thinking it’s big enough to start a business or retire. For Flips living in the US, many of them work in the US for 20-30 years and only have around $200k in retirement fund.

 

[gsturdivant]

@hope088 I need to be on the list.