Philippines' Richest Man Increases Wealth by $10 Billion

The Philippines' richest man is now worth $21.8 billion. His wealth increased from $11.5 billion last year. He is 66 years old.

His company, ICTSI, has seen its shares rise by 112% in a year. This is due to strong trade and higher tariffs. He owns 51% of the company.

The company's revenue rose by 29% to $961 million. This was helped by two new ports in South Africa and Indonesia.

The company had a strong start to 2026. New terminals and stable demand helped growth.

This year, the company will invest in the Philippines and other countries. These include Mexico, Brazil, and Australia.

However, some terminals in Europe and Africa did not perform well.

Enrique Razon is the chairman of ICTSI. He has been in the news recently.

The company's latest earnings have made investors confident. Last year, revenue was a record $3.23 billion.

Analysts say the company's earnings are now stronger. This is due to higher yields and a better mix of business.

They have upgraded their outlook on the company's shares. This is due to stronger earnings and growth.

The company has a positive outlook. It has set aside $740 million for spending this year.

The company is spending money on a new expansion in Mexico. This is an important gateway for trade.

It also plans to fund developments in the Philippines. These include new terminals and ports.

Razon has been the Philippines' richest person since 2024. His wealth is held individually, not shared with others.

His family's business started with a port in Manila. His father rebuilt it after World War II.

Razon has expanded the business globally. He also has a hospitality company with casinos.

He has invested in infrastructure and acquired stakes in other companies. This includes a water company and gas fields.

He also acquired a stake in power plants last year. This was previously controlled by another group.

COPYRIGHT DISCLAIMERS

4English does not own the rights to this content. All rights belong to the owner. 4English only uses this content to help users learn English via the app's features. Contact to request the removal of your content: contact@4englishapp.com.

聽力練習