After Pia Wurtzbach won the Miss Universe crown back in 2015, people thought it’s time for the Philippines to host one of the most anticipated events in the world.
But President Rodrigo Duterte turned it down, saying it would cost the Philippine government way too much.
It then fell to one man to make it happen – LCS Group Chief Luis “Chavit” Singson.
During the deliberations, his management team advised him that doing so would either make “earn a little money or lose a little money.”
And that’s all Singson needed to say yes.
As a start, Singson said the Miss Universe Organization asked for a non-refundable amount of $1 million to be considered.
He then had to shell out a total of $12 million (Php598 million) – half of it for the rights to hold the pageant, and other half to pay for accommodation, transportation, and meals of the officials, staff, and the candidates.
To make the island hopping as comfortable and enjoyable for the beautiful candidates, Singson also acquired the M/Y Happy Life, a five-floor, 16-room luxury yacht with Jacuzzi and KTV rooms – an additional $12 million or Php600 million to his tab.
When asked how he was able to afford it, the 75-year-old, former Ilocos Sur Governor said he has been in business way before he started 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,” says Singson.
Singson also got into 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.”
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According to him, his company’s net is about Php120 million a month.
“The construction, I make billions; the transportation, I’m netting around Php100 million a month; I’ve earned Php1 billion from that in previous years, just for transportation.”
Among his ventures are an upcoming commercial airline for domestic and international flights, a growing chain of banks in Puerto Rico, Los Angeles and Mexico called Vigan Banco International, and a new sports gear line from Europe.
And then there’s Baluarte, an 80-hectare wildlife sanctuary that has become a famous tourist spot in his home province, Ilocos Sur.
Chavit was awarded his very own Mr. Universe sash at the post-pageant gala at the SM Mall of Asia Arena. The token was given to him for his generosity of hosting the Miss Universe here in the Philippines.
This is the third time the Philippines has hosted the pageant after 1974 and 1994.
Source: Cracker Daily
How Much Did The Miss Universe Cost? Chavit Singson Shows Us the Numbers