Philippine Tycoon Loses $18 Billion as Property Fortune Wilts in Four Days

Manuel VillarSource: Golden MV Holdings Inc.

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By Anders Melin and Neil Jerome Morales

November 18, 2025 at 5:52 AM UTC

Updated on

November 19, 2025 at 6:14 AM UTC

One of the frothiest stocks in the Philippines continued its days-long plunge on Wednesday, erasing more than $18 billion of its founder’s fortune and raising new questions about its remarkable ascent and sudden nosedive.

Property developer Golden MV Holdings Inc. began falling on Thursday after regulators lifted a six-month trading suspension on the stock. So far it’s down 83%, its worst streak as a public company.