Enrique Klar Razon Jr. dropped out of school at 17 to work as a minimum wage employee in his father’s cargo-handling business at the waterfront. Despite his privileged background as the COO (child of the owner), he climbed the corporate ladder through hard work.
EKR, now 64 (born March 3, 1960), is the third richest Filipino with a personal wealth of $10.8 billion, according to Forbes magazine.
A business titan in his own right, Razon sits as chairman and chief executive of multiple companies, notably the listed port-handling giant International Container Terminal Services Inc., Bloomberry Resorts Corp. which gave rise to the Solaire Resort and Casino and the recently acquired Manila Water Companty Inc., franchise holder for the east zone.
Solaire has since gained the distinction of “game-changer” in the domestic leisure, hospitality and entertainment sector. It now has two properties, including the first luxury hotel in Quezon City.
A quick glance at his biography shows that Razon comes from a third generation Spanish-Filipino descent involved in marine cargo handling. He studied at De La Salle University in Manila.
He is married to Felicia “Lizzy” Santos, a board member of the Child Protection Network. The couple has two children—Enzo, an artist and Tarzeer Pictures co-founder and Katrina, a disc jockey, music mixer, composer and KSR Ventures owner.
Lizzy is a daughter of entrepreneur Dante Santos who was a member of the renowned Agrava Board that handled the comprehensive investigation on the murder of Senator Benigno Aquino Jr. on Aug. 21, 1983.
In 1987, the Razon Group and the Soriano Group created ICTSI, initially to vie for the Manila International Container Terminal (MICT) franchise. After winning the MICT contract in 1988, Razon ramped up his expansion plan, but had to run into the Asian financial crisis of 1997.
The crunch led to ICTSI’s doubling of debts that compelled him to sell the group’s assets to Hong Kong billionaire Li Ka-shing’s investment holding company Hutchison Whampoa.
However, ICTSI eventually bounced back and continued its expansion across India, Mexico, among others. By 2006, he took over the Sorianos’ 23-percent stake in ICTSI, making him majority owner with 52 percent of the company,
ICTSI operates terminals in the home front as well as overseas. Razon’s other investments include power, mining and oil and gas exploration.
He also owns MORE Power, an acronym for More Electric and Power Corp. or Monte Oro Resources in Iloilo that supplanted the Panay Electric Co. (PECO), the sole power distributor in 2019.
Razon heads the ICTSI Foundation Inc., which implements the group’s corporate social responsibility program. He has been a patron of Philippine golf in collaboration with Pilipinas Golf Tournaments Inc.
In 2003, Razon donated P50 million for DLSU’s sports development. It included P25 million for equipment and facilities of the Enrique F. Razon Sports Complex named after his father; P20 million for athletic scholarships; and P5 million for a sports solidarity fund.
Razon opened Solaire in 2013, the country’s first casino resort “that soon became a game-changer for the Philippines’ luxury and hospitality industries.” He tapped former executives of Las Vegas Sands to steer Solaire’s growth as a regional gaming and leisure hub.
Razon is a majority stakeholder in Manila Water after securing a controlling interest from the Ayala Group in 2020 and Apex Mining, a publicly traded gold producer in the Philippines. As chairman, Razon leads the boards of ICTSI, Bloomberry, Manila Water and Prime Infrastructure.
The Razon business conglomerate has thousands of Filipino workers under its wings.
ICTSI was cited for helping facilitate trade and commerce, “ensuring the growth of Philippine businesses, while Bloomberry has cemented the Philippines as a gaming and leisure destination for luxury travelers.”
Manila Water and Prime Infrastructure were also credited as service-oriented companies that have committed to providing vital services to communities.
Known for his philanthropy, Razon has donated millions to charitable causes through his foundations. His most notable philanthropic effort was acquiring and distributing millions of COVID-19 vaccines, including constructing a mega vaccination site open to all Filipinos.
