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This makes him one of the few notable gainers this year in terms of fortune. As of August 23, 2017, Ang's net worth is equivalent to 0.754% of the Philippines' gross domestic product (GDP) of $304.9 billion in 2016, and 12.77% of the $18-billion fortune of Henry Sy Sr, the country's richest man. During Eagle Cement's first day of trading, its stock price rose 2% to close at P15.30 from its IPO price of P15 apiece, after Ang announced market share is expected to hit 25% over the next two to 3 years. (READ: Eagle Cement aims to be market leader by 2020 ) Eagle Cement, which is run by Ramon's son John Paul Ang, saw its net income increase by 13% to P2.2 billion in the 1st half of 2017 even as local cement prices hit a 4-year low. Ramon's daughter Monica Ang also serves as the cement firm's chief finance officer. Its net sales, meanwhile, rose 12% to P7.5 billion in the 1st half of 2017, versus P6.7 billion in the 1st half of 2016, on higher sales volume for both bagged and bulk cement. (READ: Ramon Ang's Eagle Cement in race to rise above multinational giants ) Aside from Eagle Cement, Ang's other businesses, including diversified conglomerate San Miguel Corporation , have been doing well this year in terms of financial performance. San Miguel registered a net income of P26.1 billion in the 1st half of 2017. The conglomerate now has interests in brewery, oil, power, mining, infrastructure, and most recently, car distribution. (READ: San Miguel's latest venture: BMW vehicles ) It was Ang, San Miguel's largest shareholder, who was able to turn it from a food and beverage company into the country's most diversified conglomerate.
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