MANILA, Philippines — Business tycoon Enrique Razon Jr. moves up the Forbes Philippines’ 50 Richest with a net worth of $11.1 billion, only falling behind the Sy siblings.
Razon, a juggernaut in the casino and ports industry, increased his value by $3 billion in 2024.
According to Forbes, Razon’s largest, the International Container Terminal Services, rose by 80% in shares.
His company also reported a 36% increase in profit, amounting to $210 million in the first quarter. The International Container Terminal Services also plans to invest $1.3 billion to expand ports in Africa, Asia and South America.
Here are Forbes’ top 10 of the richest people in the Philippines:
- Sy siblings – $13 billion
- Enrique Razon – $11.1 billion
- Manuel Villar – $10.9 billion
- Ramon Ang – $3.8 billion
- Isidro Consuji and siblings – $3.4 billion
- Tony Tan Caktiong and family – $2.9 billion
- Lucio Tan – $2.65 billion
- Jaime Zobel de Ayala and family – $2.6 billion
- Lucio and Susan Co – $2.3 billion
- Aboitiz family $2.2 billion
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