Forbes 50 Richest: Enrique Razon Jr. rises to 2nd in Philippines list

MANILA, Philippines — Business tycoon Enrique Razon Jr. moves up the Forbes list of the 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, the value of shares of Razon’s largest company, the International Container Terminal Services, rose by 80% in the past year along with the boom in trade.

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: