Who is he?
Enrique “Ricky” Razon, Jr. is the third richest man in the Philippines, with a net worth of $3.6 billion according to Forbes. He is the CEO and chairman of International Container Terminal Services, Inc. (ICTSI), a Manila-listed port-handling company that is one of the top five largest maritime terminals in the world. He owns ports across the Indo-Pacific, Africa and the Middle East.
The fact that Razon runs the most international of the major Philippine companies has given him relative maneuverability in the Philippine market and domestic politics. He has supported successive presidents making seemingly seamless transitions to the envy of his business peers.
Razon is charisma embodied. He is brash and blunt, but charming. Even a slight tick which punctuates his monologues disarms his interlocutors. He graduated with a bachelor of science in business from De La Salle University, where he currently financially supports some players from the basketball team, the De La Salle University Green Archers. He also backs the Philippines Golf Tour.
Why is he in the news?
Mr. Razon has refocused on his home market in recent years. He owns Solaire Resort & Co., a $1.2 billion casino resort which opened on March 16, 2013 in Manila Bay. It is the first of the four entertainment venues slated to make the Philippines one of Asia’s elite gaming destinations, competing with the popular casinos of Macau and Singapore.
What can we expect?
Mr. Razon saw his wealth rise significantly from $2 billion to $3.6 billion when he took his gaming business, Bloomberry Resorts Corporation public in 2012.
Razon aspires to cultivate a Filipino “brand” that is able to compete internationally in transportation and gaming. ICTSI continues to expand its terminals internationally and will take Bloomberry Resorts Corp. outside of the Philippines. Riding the tide of economic confidence imbued by President Aquino, Razon hopes to raise the profile of Philippine companies in a global scale.