What is Eric Recto's Net Worth?
Eric Recto is a Filipino businessman who has a net worth of $485 million. Eric Recto is the President of the investment firm Top Frontier, Petron Corporation and ISM Communications Corporation. An Industrial Engineer from the University of the Philippines and MBA holder from Cornell University, he started his career in the private sector. Among the most notable positions that he held include Chief Financial Officer and Senior Vice President of Alaska Milk Corporation, Chief Financial Officer and Executive Vice President of APC Group Inc., and Chief Financial Officer and Vice President of Finance of Sinophil Corporation, among others.
He saw an increase in his net worth after he purchased a 24% stake in Philippine Bank of Communications, from his uncle Roberto Ongpin who resigned as co-chairman in December 2013. Also, there was an almost one forth rise in the shares of developer Alphaland, in which he also holds a stake. In February, he abandoned his position as President of oil refiner Petron to become its Vice Chairman.
