Bloomberry Tycoon Razon Tops Philippines’ Rich List

Villar’s Setback Opens Door for Razon

The shift in rankings occurred after Golden MV Holdings, Villar’s property arm, faced trading suspension on May 16 for failing to submit its 2024 audited financial report. In April, Villar had a peak wealth of $17.2 billion—well above Razon’s $10.9 billion at the time. However, delays in reporting, valuation concerns, and transparency issues negatively impacted Villar’s standing.

Bloomberry and Diversified Assets Fuel Razon’s Rise

Razon’s wealth surge is backed by strong performances across his core businesses:

• ICTSI, the Philippines’ largest port operator, posted a 14% year-on-year increase in Q1 net income, reaching $239.54 million, with its stock up 30% since March.
• Bloomberry Resorts, operator of Manila’s Solaire Casino, saw a 54% year-on-year growth, aided by a ₱40 billion ($700.4 million) refinancing deal that netted a one-time gain of ₱2.9 billion ($50.8 million). Both gaming and non-gaming revenues remained strong.
• Apex Mining, another Razon-owned firm, recorded a 70% increase in Q1 net income, reaching ₱1.4 billion ($24.5 million), with its share price surging nearly 60%, buoyed by favorable gold market conditions.
• In energy, Prime Infra, also under Razon, acquired 60% of First Gen’s gas subsidiary for ₱50 billion ($874.6 million) in May, solidifying its infrastructure portfolio.

Bloomberry’s iGaming Launch Spurs Market Optimism

In June, Bloomberry’s share price climbed 18.4% following the soft launch of its new online gaming platform, megaFUNalo!. Targeted at the Filipino market, the platform offers:

• Free games
• On-demand content
• 24/7 live shows
• Real-money prizes

Inspired by local festivals and social culture, megaFUNalo! combines casual entertainment with responsible gaming, entering the competitive digital arena alongside platforms like BingoPlus. It is expected to complement Bloomberry’s Solaire Online, expanding its national iGaming footprint. Analysts say the stock rally reflects investor confidence in Bloomberry’s digital strategy.

Broader Changes on the Billionaire Leaderboard

Beyond Razon and Villar, other Filipino tycoons continue to hold strong positions:

• Ramon Ang (San Miguel Corp.): $3.7 billion
• Lucio Tan: $3.3 billion
• Sy siblings (Henry Jr., Hans, Herbert, Harley, Teresita Sy-Coson): $1.9B–$2.3B each
• Lucio and Susan Co: Over $1.5 billion each
• Andrew Tan, Tony Tan Caktiong, Eusebio Tanco: Over $1.2 billion
• Maria Grace Uy (Converge ICT): Around $1 billion