Lucio Co
Nana Buxani/Bloomberg
This story is part of Forbes’ coverage of Philippines’ Richest 2026. See the full list here.
Lucio and Susan Co, the billionaire cofounders of hypermarket and supermarket chain Puregold Price Club, enter the top five ranks of the country’s richest for the first time at No. 4 with a shared fortune of $3.3 billion, up 10% on year. Amid a spike in inflation, the company, which is run by the couple’s son, Ferdinand, clocked a 24% jump in net profit to 3.3 billion pesos ($54 million) on revenue of 59 billion pesos in the first quarter of 2026. Analysts say Puregold has successfully fended off rivals such as Swiss discount chain Dali with a weekly blitz of promotional offers for price-conscious customers.
From a single store set up in 1998, the Cos have built Puregold into a nationwide chain with nearly 800 outlets, including a string of warehouse clubs and quick-service pizza restaurants. Apart from retailing, the pair have diversified into areas such as finance, real estate and energy. In May, they doubled down on their water utility business by concluding the acquisition of PrimeWater Infrastructure, which supplies 161 cities and towns, from property tycoon Manuel Villar at an undisclosed price. The Cos also
control The Keepers Holdings, an importer of liquors and wines.
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