Philippine Tycoon Loses $16 Billion as Property Fortune Wilts in Three Days

One of the frothiest stocks in the Philippines has plunged in recent days, erasing more than $16 billion of its founder’s fortune and raising new questions about its remarkable ascent...

By Anders Melin, Neil Jerome Morales · Bloomberg Markets

One of the frothiest stocks in the Philippines has plunged in recent days, erasing more than $16 billion of its founder’s fortune and raising new questions about its remarkable ascent and sudden nosedive.