Enrique Razon Jr. Tops Forbes Philippines Rich List as Elite Wealth Falls 8%

Ports and casino magnate Enrique Razon Jr. reached a net worth of $21.8 billion, placing him at the top of Forbes Philippines' 2026 list of the 50 richest individuals. His fortune grew by $10.3 billion, the largest dollar increase among Filipino billionaires, driven by the global expansion of his listed company International Container Terminal Services Inc. (ICTSI), whose shares more than doubled in the past year.

Razon overtook the Sy siblings, long‑time leaders of the ranking, while the combined wealth of the country’s 50 richest fell 8 % to $79 billion, down from $86 billion. The decline reflects a sluggish domestic economy, weaker peso, high inflation and geopolitical tensions, including an energy shock linked to the Iran conflict. Only 14 of the 50 saw their fortunes rise, with Razon the standout gainer.

Key strategic moves for ICTSI included a 25‑year joint‑venture with South Africa’s state‑owned Transnet at the Port of Durban and a $175 million expansion of a Brazilian terminal, underscoring the role of overseas projects in Razon’s wealth surge.