Tovic Salvador

Article (news)

Arthur Fuentes

ABS-CBN News

<div><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/17732001982232-Composite (1).jpg" style="width:960px" class="fr-fic fr-dib" width="960"/></div>MANILA – Infrastructure and casino tycoon Enrique Razon emerged as the wealthiest man in the Philippines, according to <a href="https://www.forbes.com/billionaires/" rel="noopener noreferrer" target="_blank">Forbes</a>.Meanwhile, controversial tech tycoon Elon Musk has moved closer to becoming the first trillionaire as his fortune breaches the $800 billion dollar mark. Razon, ranking 175, leads the list of Philippine billionaires with a net worth of $16.5 billion, according to Forbes. Razon’s International Container Terminal Services Inc has been on a roll in the past few years, surging in value by over ten times since the start of the pandemic. It operates in six continents, and reported its net income surging 23 percent to $1.05 billion in 2025, amid higher cargo volumes. Aside from ICTSI, Razon also controls leading casino operator Bloomberry Resorts Inc, utility Manila Water, and the Malampaya Project. Following Razon is San Miguel head honcho Ramon Ang, ranking at 1186, with a net worth of $3.6 billion. Next is tobacco and airline magnate Lucio Tan ranking 1123, with a net wort of $3.5.Former wealthiest Filipino Manuel Villar, meanwhile is now the fourth wealthiest in the Philippines, ranking 1376 in the Forbes list, with a net worth of $3.1 billion. The Sy-blings round up the names with the next highest net worths, along with real estate tycoon Andrew Tan, and grocery giant Lucio Co. Musk, meanwhile, is at the top of the worldwide heap with a net worth of $839 billion. Acc ording to Forbes, Musk owns about 12 percent of EV maker Tesla, which currently has a market cap of $1.25 trillion. He also has stakes in X (formerly Twitter) and xAI, along with SpaceX.Musk is followed by Google founders Larry Page and Sergey Brin; Amazon’s Jeff Bezos; Meta’s Mark Zuckerberg; and Oracle’s Larry Ellison. Nvidia’s Jensen Huang is also in the top 10 at number 8. The only non-tech billionaires on Forbes top ten are Bernard Hinault of luxury retailer LVMH, diversified investor Warren Buffet, and Zara’s Amancio Ortega. According to Forbes, the world’s billionaires “are richer than ever, worth a record $20.1 trillion, up $4 trillion from last year.” “The US has the most billionaires, with a record 989, including 15 of the top 20. China, including Hong Kong, is next, with 610, and India (229) ranks a distant third,” the company said. To determine their net worth, Forbes said it used stock prices and exchange rates from March 1, 2026.<div>GROWING INEQUALITY</div>According to the <a href="https://inequality.org/facts/global-inequality/" rel="noopener noreferrer" target="_blank">World Inequality Report 2026</a>, the top 10 percent of the global population earn more than the remaining 90 percent, while the poorest half of the global population captures less than 10 percent of the total global income.“Wealth is even more concentrated: the top 10 percent own three-quarters of global wealth, while the bottom half holds only 2 percent,” the report said.In 2023, Oxfam noted that the <a href="https://www.oxfam.org/en/press-releases/richest-1-bag-nearly-twice-much-wealth-rest-world-put-together-over-past-two-years" rel="noopener noreferrer" target="_blank">richest 1 percent</a> grabbed nearly two-thirds of all new wealth worth $42 trillion created since 2020, almost twice as much money as the bottom 99 percent of the world’s population.Oxfam has advocated for taxing the &quot;super rich&quot; to fund social as well environmental services.

According to Forbes, the world’s billionaires “are richer than ever, worth a record $20.1 trillion, up $4 trillion from last year.”

According to Forbes, the world’s billionaires “are richer than ever, worth a record $20.1 trillion, up $4 trillion from last year.”

Razon is Philippines’ top billionaire; Musk moves closer to trillionaire status

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Razon is Philippines’ top billionaire; Musk moves closer to trillionaire status

Arthur Fuentes,

ABS-CBN News

Published Mar 11, 2026 11:25 AM PHT

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Updated Mar 11, 2026 11:41 AM PHT

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Forbes

richest people

billionaires

world's wealthiest

Musk

Razon

inequality

tech billionaires

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