Enrique Razon Jr
Chairman, International Container Terminal Services, Inc (ICTSI)
As the head of a major player in the cargo and shipping business, Ricky Razon, Jr, is known as the Ports King
Enrique “Ricky” Razon, Jr. is the chairman of International Container Terminal Services, Inc. (ICTSI), a company his father and grandfather built before and after the Second World War. ICTSI has thrived under its risk-taking strategy and visionary leadership, expanding its operations to the Middle East, Australia, Africa, and China.
Razon also turned to property development and hospitality, incorporating Bloomberry Resorts Corporation, which launched the US$1-billion project Solaire Resort & Casino in 2013. This put the Philippines on the gaming map and Razon on the industry insider list of Asian Gaming Power 50. He built a team of hospitality veterans who had worked in Las Vegas and Macau, creating a Filipino gaming experience that draws players from competing casino spots around Asia and the rest of the world. Solaire is also the home of a world-class theatre that has seen productions of Miss Saigon, The Phantom of the Opera and The Lion King, as well as a Netflix comedy special.
At the height of the pandemic, Razon focused on building a mega vaccination site and acquiring millions of doses of Moderna vaccines. The private-sector effort impacted the government and the public when COVID-19 cases surged, and vaccination resources were scarce. In 2022, Razon announced that the company had created a proposal to build the world’s most extensive solar and battery facility to reduce the country’s use of coal. The billionaire’s efforts to provide clean power through a partnership with Solar Philippines have created a brighter energy future.
In July 2023 Razon secured a 25-year joint venture with Transnet Port Terminals to operate and develop the Durban Container Terminal Pier 2, a new port in South Africa. Transnet’s biggest container terminal will have 1,760 metres of operational quay length and 120 hectares of container storage and backup area.
As of August 2024, his net worth surged by US$3 billion to an estimated US$11.1 billion, making him the wealthiest man in the Philippines. Under his leadership, ICTSI expanded to 19 countries, with a US$800 million investment in a new container facility in Bauan, Batangas, set to be completed by 2027. Additionally, Bloomberry opened the US$1 billion Solaire Resort North in Quezon City in May 2024, creating around 4,000 jobs. Razon also acquired a significant stake in Manila Water Company for approximately US$251 million, resulting in a 37 per cent increase in net income.
