Razon is the chairman of International Container Terminal Services, a Manila-based cargo facilities operator that reported revenue of $2.7 billion in 2024. He also owns most of Bloomberry Resorts, which owns the Manila gambling complex Solaire Resort & Casino, as well as gold mining and oil exploration assets.
The majority of Razon's wealth is derived from his stake in International Container Terminal Services, a publicly traded ports operator. He owns 51% of the company directly and through three holding companies, Bravo International Port Holdings, Razon Group Shareholdings and Achillion Holdings, according to a January 2025 filing with the Philippine Stock Exchange and the company website.
The billionaire controls 65% of Bloomberry Resorts, which runs two resorts in the Philippines and one in South Korea and reported about $1 billion in revenue for 2023, according to a statement. He owns 52% of Manila Water Co., which provides water and sanitation services to more than 7 million people in the capital, and 67% of gold producer Apex Mining.
He has non-public assets and investments valued at $2.8 billion, according to figures provided by ICTS spokeswoman Estella Occena. They include investments in various mining and infrastructure projects in the Philippines and Iraq, and about $300 million invested in oil and gas in the US. Razon has real estate valued at $628 million in New York, San Francisco, South Africa and the Philippines, and owns three airplanes and two helicopters.
The value of his cash investments is recorded as a liability and reflects the cost of his real estate purchases, as well as insider transactions, market performance and taxes.
Enrique Razon is the youngest of five siblings and the only one involved in the family's ports business. His grandfather started Manila's main port operation under U.S. rule in the 1930s, passing the business on to his son, who ran the business before and after the Philippines nationalized, then privatized, the ports in 1988. That's when the Razons, along with partners the Soriano Group and Sea-Land, won a bid to run the capital city's port.
The youngest Razon dropped out college at the age of 17 to join the family firm. Known as "Ricky," he expanded the operation from Manila to a global player with cargo facilities in 19 countries. He first expanded outside the Philippines to Argentina in 1994. The next year, his father died and Razon was named chairman.
His overseas expansion plans were stymied by the Asian financial crisis in 1997, when the Philippines devalued its currency, which doubled the debt of his ports business. The billionaire sold most of the group's assets outside the Philippines to Li Ka-Shing's Hutchison Whampoa. ICTSI rebounded, expanding in India, Croatia and Mexico, focusing on taking control of port operations. The company plans to add 10 projects over the next decade in emerging markets such as Congo and the Ivory Coast, to avoid the effect of the European debt crisis, Razon said in an October 2012 interview with Bloomberg News.
Razon is also betting on gambling. In March 2013, his Bloomberry Resorts opened Solaire Casino in Manila, the country's first casino resort.