Chavit Singson Earned A Monthly Net Revenue Of About 120 Million, Making Him One Of The Richest Man In The Philippines.

Chavit Singson, Luis Crisologo Singson in real life, is a Filipino politician and a businessman. Through his conglomerate LCS Group of Companies, Chavit Singson pledged to raise $11 million needed to host the Miss Universe 2016 pageant in the country on January 30, 2017. Since 2018., Singson is the president of the Philippine National Shooting Association, a local governing body for Shooting sports in the country.

According to the 77-year-old former politician:

“My net revenues amount to about PHP 120 million a month. There are a lot (of companies). I have many businesses that earn millions. The construction (business) I make billions; the transportation (business), I’m netting around PHP 100 million a month; I’ve earned PHP 1 billion from that in previous years, just for transportation.”

In an interview with Entrepreneur PH, he was asked if how many companies he owns and he replied:

“There are a lot. Maybe around a hundred. Some of them aren’t in my name.”

He also has an 80-hectare interactive wildlife sanctuary in his home town that has become a tourist destination. Singson also mentioned several new ventures: a commercial airline that flies domestic and international routes, his bank in Puerto Rico (Vigan Banco International) now has branches in Los Angeles (California) and Mexico, and GO Sport, one of Europe’s largest sporting goods chains, that will soon open local branches.

It is no longer a secret that Singson’s name was involved in many different controversies especially in his time in plotics. But he defended the allegations explaining that his wealth came from legitimate business activities and not from corruption or illegal activities.

“My father was an engineer. We had a construction (business) when I was born. I worked to make it grow. So (my wealth) came from somewhere.”

When he was young, he also became involved in tobacco trading.

“That’s how I earned my millions when I was younger. I was able to buy the electrical plant of Vigan when I was only 23 or 24 years old.”

He’s certainly a certified crazy rich Filipino and no doubt built a multi-million business empire.

Source: Entrepreneur

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