Ports and casino magnate Enrique Razon Jr. takes the No. 1 position on the 2026 Forbes Philippines’ 50 Richest list, for the first time since his first appearance on the ranking in 2007. Multiple reports say his fortune nearly doubles to a record $21.8 billion, driven by continued global expansion connected to International Container Terminal Services Inc. (ICTSI). The Inquirer notes that Razon’s rise is linked to ICTSI’s international growth, while Forbes frames the broader context as a mixed year for wealth. Forbes also reports that a slowdown in infrastructure investment and a weaker peso weigh on fortunes even as investor sentiment improves. Inquirer adds that the Sy siblings, previously near the top, slip to No. 2 with a combined fortune of $9.2 billion, citing weaker performance in SM Prime Holdings. Overall, the sources describe Razon’s expansion as the main factor behind his record ranking, alongside wider market and currency effects that alter other major fortunes.