Razon is the richest Filipino on Forbes’ World’s Billionaires List
By Alexandria Grace C. Magno, Reporter
PORTS AND CASINO tycoon Enrique K. Razon, Jr. saw his net worth surge over 50% to $16.5 billion, making him the richest Filipino on Forbes’ 2026 World’s Billionaires List.
According to the Forbes’ list, there were 15 billionaires from the Philippines, led by Mr. Razon.
Mr. Razon climbed 52 spots to 175th out of 3,428 billionaires on the global list, which was topped by tech mogul Elon Musk. He was the only Filipino in the top 200 billionaires in the world.
Based on Forbes’ estimates as of March 10, Mr. Razon’s net worth stood at $16.5 billion, 51.38% higher than $10.9 billion a year earlier.
Mr. Razon is the chairman of International Container Terminal Services, Inc. (ICTSI), the Philippines’ largest ports operator by revenue, with subsidiaries across the Asia-Pacific, Eastern Europe, Africa, and the Americas.
“The substantial rise in Mr. Razon’s net worth reflects the strong stock price performance of ICTSI, which is now the country’s most valuable listed company,” China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.
“Mr. Razon’s rise to the top of the list was largely driven by the surge in ICTSI, whose share price was among the strongest performers on the Philippine Stock Exchange index last year and year-to-date,” DragonFi Securities Equity Research Analyst Jarrod Leighton M. Tin said in an interview.
Mr. Tin noted the rally in ICTSI’s share price has more than offset the sharp drop in the share price of Solaire operator Bloomberry Resorts Corp., where Mr. Razon also has a majority stake.
Mr. Razon has also increased infrastructure investments by acquiring control of Manila Water and has stakes in a gas field and bulk water facilities.
Ramon S. Ang, chairman and chief executive officer of conglomerate San Miguel Corp., ranked 1,189th on the Forbes’ list with an estimated net worth of $3.6 billion. His wealth slipped by 2.7% from $3.7 billion a year ago.
LT Group, Inc. Chairman Lucio C. Tan landed on the 1,223rd spot, with his net worth up by 16.67% to $3.5 billion from $3 billion a year earlier.
Property tycoon and former Senate President Manuel B. Villar, Jr. fell 1,259 spots to 1,376th place from 117th in 2025. He was the highest-ranked Filipino billionaire in the Forbes’ 2025 World’s Billionaires List. His estimated net worth plunged by 81.98% to $3.1 billion from $17.2 billion last year.
“Manny Villar’s net worth declined following the downward revision of Villar Land Holdings Corp.’s previously reported P1.3-trillion revaluation gain, alongside insider-trading allegations that have weighed on the share prices of several other Villar-linked companies,” Mr. Tin said.
The Forbes’ World’s Billionaires List also included the six children of the late Henry Sy, Sr., who founded the SM Group.
Henry T. Sy, Jr. was ranked 1,676th with a net worth of $2.5 billion, followed by Hans T. Sy at 2,274th place with $1.8 billion, Herbert T. Sy at 2,274th as well with $1.8 billion, Harley T. Sy at 2,386th with $1.7 billion, Teresita T. Sy-Coson at 2,481st with $1.6 billion, and Elizabeth T. Sy at 2,600th with $1.5 billion.
Alliance Global Group, Inc. Chairman Andrew L. Tan landed on 2,386th place with a $1.7 billion net worth.
Puregold Price Club founder Lucio L. Co ranked 2,481st with a $1.6-billion net worth, while his wife Puregold Chairman Susan P. Co was at 2,600th place with a $1.5-billion net worth.
Tony Tan Caktiong, chairman of fastfood giant Jollibee Foods Corp., ranked 3,185th with a $1.1-billion net worth.
Gaming, education, and shipping tycoon Eusebio H. Tanco landed on the 3,332nd spot with a $1-billion net worth. He is the chairman of DigiPlus Interactive Corp. and STI Education Systems Holdings, Inc.
This year’s Forbes’ World’s Billionaires List includes a record 3,428 entries, up 400 from last year’s high and the largest since it began in 1987.
The total wealth of the world’s billionaires surged to $20.1 trillion this year from $16.1 trillion in 2025, with 20 people worldwide now holding 12-figure fortunes.
Mr. Musk topped the list for the second year running as the richest billionaire, with a net worth of $839 billion.
The Forbes’ World’s Billionaires List used stock prices and exchange rates from March 1, 2026.
