Enrique K Razon Jr, the Chairman and CEO of Solaire Resort operator Bloomberry Resorts Corp, has moved up to second spot on the 2024 Forbes list of the Philippines’ 50 Richest people – one of many gaming industry figures to appear on this year’s list.
According to Forbes Asia, Razon’s wealth grew by around US$3 billion over the past year to US$11.1 billion, primarily on the back of his shipping business International Container Terminal Services whose shares have jumped by almost 80%. The mogul, who recently opened his second Manila IR, Solaire Resort North, in Quezon City, also has significant interests in real estate, gas and water.
Coming in third on the 2024 rich list with a US$10.9 billion fortune, up by US$1.2 billion, is property tycoon Manuel Villar who recently revealed plans to open two integrated casino resorts in and around Manila over the next few years.
Other notables include Lance Gokongwei and Siblings at US$1.9 billion, whose JG Summit Holdings counts NUSTAR Resort & Casino parent Universal Hotels and Resorts Inc among its subsidiaries, and Andrew Tan – founder of Newport World Resorts parent Alliance Global Group – in 13th spot with US$1.8 billion.
Eusebio Tanco is another mover, having seen his wealth grow 35% to US$815 million on rising shares of his online gaming company DigiPlus Interactive.
Still in top spot on the 2024 Forbes list of the Philippines’ 50 Richest is the Sy family, which heads SM Investments, with a combined US$13 billion fortune, although this was down from US$14.4 billion a year earlier.
Forbes said the combined wealth of tycoons on this year’s list was nearly flat year-on-year at US$80.8 billion.
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