RAZON NOW PHL'S RICHEST, ACCORDING TO FORBES LIST

PORT and casino mogul Enrique K. Razon Jr. is now the country's richest person, according to Forbes magazine's list of the richest people in the world.

- BY VG CABUAG

Razon, 66, who owns port operator International Container Terminal Services Inc. and integrated resort and casino owner Bloomberry Resorts Corp., had a net worth of $16.5 billion, up from the previous year’s $10.9 billion.

He landed 175th on the Forbes list.

Last year’s Philippines richest, Manuel B. Villar Jr., dropped to fourth place, with his fortunes reaching only $3.1 billion, down from last year's $17.2 billion.

A series of controversies, such as allegations of market manipulation and poor water service, have rocked his family business, mainly on real estate, retail and utilities.

This placed Ramon S. Ang, chairman of conglomerate San Miguel Corp., to a far second on the list, with $3.6 billion in net worth, down from last year’s $3.7 billion.

Ang was at 1,189th position on the Forbes list.