How Rich is Chavit Singson?
Luis “Chavit” C. Singson has been in the news in recent weeks. As chairman of the LCS Group of Companies, he is mainly responsible for bringing the Miss Universe pageant back to Manila. This is the third time the country is hosting the prestigious beauty pageant, after 1974 and 1994.
After the Philippines’ Pia Wurtzbach won the crown last year, there were campaigns launched to have the country host the pageant again, but President Rodrigo Duterte opposed the plans and said he did not want the government to spend on the project.
Singson entered the picture after the proposal was brought to his attention by his project managers. The former governor of Ilocos Sur initially balked at the steep price tag attached to hosting the pageant. Singson said the Miss Universe Organization initially asked for a non-refundable fee of $1 million upfront.
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