Find out how much Chavit Singson spent to make Miss Universe happen in the Ph

LCS Group Chief Luis “Chavit” Singson spent $25 million to make the Miss Universe 2016 pageant happen here in the Philippines.

A refundable amount of $1 million was paid by the former Ilocos Sur governor as an upfront to the Miss Universe Organization.

He further shared that he spent another $6 million to pay the rights to hold the pageant and another $6 million to pay for the production cost which includes accommodation, transportation, and meals for officials, staff, and candidates.

In addition, the LCS chief  bought a 16 room luxury yacht with Jacuzzi and KTV rooms which transported the candidates to and from Batangas to Manila during the pre-pageant phase for $12 million  of 6,000,000php when converted to peso.

The 75 year old businessman emphasized he was able to shoulder this amount because he has been running business way before he made his debut in politics.

“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,” Singson narrated.

Aside from the construction firm, Singson is also running a tobacco trading which earned million when he was younger. “I was able to buy the electrical plant of VIgan when I was only 23 or 24 years old.”

The net revenues of Singson are amounting to about P120 million a month and that he has a lot of business that earn millions.

This business tycoon plans to open his domestic and international commercial airline, chain of growing banks in Puerto Rico, Los Angeles and Mexico called Vigan Banco International, and a new sports gear line from Europe.

At present, he is also running his 80-hectare wildlife sanctuary named Baluarte which is now a famous tourist spot in Ilocos Sur.

Chavit was awarded his very own Mr. Universe sash during the after party of Miss Unvierse 2016 held at SM Mall of Asia Arena as a token for his generosity.

[Source: Trending News Portal, PEP Ph]