What is Enrique Razon Jr.’s Net Worth?
Enrique Razon Jr., one of the wealthiest individuals in the Philippines, has an estimated net worth of $10.7 billion. The primary source of Razon’s wealth comes from his ownership and leadership of International Container Terminal Services, Inc. (ICTSI), a global port management company. He holds a 52% stake in ICTSI, which reported revenues of $2.4 billion in 2023.
Beyond ports, Razon has diversified his business interests into gaming and leisure through Bloomberry Resorts Corp., which owns and operates the Solaire Resort and Casino in Manila.
Razon’s portfolio extends to other sectors as well. He owns a 41% stake in Manila Water Co., acquired through a series of purchases in 2020 and 2021. He also holds a 67% stake in Apex Mining, a publicly traded gold producer in the Philippines. In addition, Razon has investments in various mining and infrastructure projects in the Philippines and Iraq, as well as oil and gas interests in the United States.
His real estate holdings are substantial, with an estimated value of $650 million spread across properties in New York, San Francisco, and the Philippines. Razon also owns three airplanes and two helicopters, further adding to his impressive asset portfolio.
Here’s the breakdown of Enrique Razon Jr.’s net worth:
Name: | Enrique Razon Jr. |
Net Worth: | $10.7 Billion |
Date of Birth: | March 3, 1960 |
Profession: | Businessperson |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life
Enrique Razon Jr. was born on March 3, 1960, in Manila, Philippines, into a family with deep roots in the maritime industry. He comes from a third-generation Spanish-Filipino family that has been involved in marine cargo handling since 1916. Razon’s grandfather started the family’s port business during the American colonial period in the 1930s.
As the youngest of five children, Razon grew up surrounded by the family business. He attended De La Salle University in Manila for his early education.
However, against his father’s wishes, Razon made the bold decision to drop out of college at the age of 17 to join the family business.
Career
Razon’s career began at the ground level of his family’s cargo-loading business, where he started with a minimum-wage job and worked his way up through the ranks. This hands-on experience provided him with invaluable insights into the intricacies of port operations and management.
In 1987, Razon, along with the Soriano Group, incorporated International Container Terminal Services, Inc. (ICTSI) to bid for the Manila International Container Terminal (MICT). After winning the MICT contract in 1988, Razon spearheaded the terminal’s development program, laying the foundation for ICTSI’s future growth.
Under Razon’s leadership, ICTSI launched an international and domestic expansion program in 1994. Today, the company operates in 31 countries and handles over 10 million containers annually, cementing its position as a global leader in port management.
Razon’s business acumen extends beyond ports. In 2011, he entered the gaming and hospitality industry by establishing Bloomberry Resorts Corporation. The company’s flagship project, the $1.2 billion Solaire Resort and Casino, opened in 2013, marking the Philippines’ entry into the luxury gaming market.
Throughout his career, Razon has demonstrated a keen ability to navigate economic challenges and seize opportunities for growth. His strategic decisions, including the sale of overseas assets during the Asian financial crisis and subsequent re-expansion into emerging markets, have been crucial in building his substantial net worth.
Today, Razon’s diverse portfolio includes interests in ports, gaming, water utilities, energy, and mining, contributing to his status as one of the wealthiest individuals in the Philippines.
Personal Life
Enrique Razon Jr. is married to Lizzy Santos Razon, who is a board member of the Child Protection Network. The couple has two children: Katrina and Enzo. Katrina has made a name for herself as a venture capitalist, founding KSR Ventures, which focuses on social enterprises. Enzo, on the other hand, has pursued creative endeavors as an artist, filmmaker, and co-founder of Tarzeer Pictures.
Razon is an avid golfer and a licensed pilot who enjoys flying helicopters. His passion for golf is evident in his role as chairman of Pilipinas Golf Tournaments Inc., which runs Southeast Asia’s largest professional golfing circuit.
Razon also owns substantial real estate assets, with Bloomberg estimating his property holdings at around $590 million (P32 billion) across New York, San Francisco, and the Philippines.
In addition, he owns three airplanes and two helicopters, further showcasing his penchant for luxury and mobility.
Philanthropy
Enrique Razon Jr.’s philanthropic efforts are as impressive as his business acumen. He chairs the ICTSI Foundation, Inc., which oversees and implements the ICTSI Group’s corporate social responsibility initiatives worldwide. The foundation focuses on various causes, including education, sports development, and disaster relief.
One of Razon’s most notable philanthropic contributions came in 2003 when he donated P50 million to De La Salle University for sports development. This generous gift was allocated as follows: P25 million for equipment and facilities of the Enrique M. Razon Sports Complex, named after his father; P20 million for athletic scholarships; and P5 million for a sports solidarity fund.
During the COVID-19 pandemic, Razon demonstrated his commitment to public health by spearheading the construction of a mega vaccination site and organizing vaccination drives open to all Filipinos. He also played a crucial role in acquiring and distributing millions of COVID-19 vaccines, showcasing his ability to leverage his business acumen for the greater good.
In 2022, he announced plans to build the world’s largest solar and battery facility to reduce the Philippines’ reliance on coal.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
