Two Wealthy Americans Face Off In Bitter Feud Over Panama Port

A view of the Balboa Port is pictured after Hong Kong's CK Hutchison agreed to sell its interests in a key Panama Canal port operator to a BlackRock Inc-backed consortium, amid pressure from U.S. President Donald Trump to curb China's influence in the region, Panama City, Panama, March 4, 2025. REUTERS/Enea Lebrun

Oct 22, 2026 (Bloomberg) –To hedge-fund billionaire Louis Bacon, the crystalline waters and densely forested riverways of the Gulf of Chiriqui in western Panama are an ecological oasis. To developer John McKeown, the gulf is a conduit to potential markets for the region’s prized produce and a boon for its economy.

Those clashing visions are at the heart of a bitter dispute between the two wealthy Americans, who both say they’re championing Panama’s best interests.

The feud centers on a $260 million port McKeown is seeking to develop on the country’s Pacific coast, just south of the city of David. Ocean Pacific Investments, the company McKeown leads, describes the project, Puerto Baru, as Panama’s first “green” port that will help relieve pressure on trading hubs in Panama City and integrate with trade routes to North America and Asia. Chiriqui, with a population of around 500,000, is Panama’s breadbasket, cultivating foods including coffee, papayas and shrimp.

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