Life story of enrique razon jr
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This means that, at no additional cost to you, we may earn a commission if you click through and make a purchase. He owns one of the basketball teams in the Philippine Basketball League, with many players from the De La Salle University national team.
Razon also has a passion for golf and has made significant investments in local golf organizations.
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. He is currently ranked 3rd on the list of the wealthiest individuals in the Philippines. In 2003, he donated 50 million pesos for sports needs, with 25 million going towards the purchase of equipment for a sports complex named after him.
Enrique Klar Razon, Jr.
was born on March 3, 1960, into a third-generation Spanish-Filipino family deeply entrenched in the marine cargo handling business.
He pursued his college education at De La Salle University in Manila before embarking on his business career.
In 1987, Razon co-founded International Container Terminal Services, Inc. (ICTSI) with the Soriano Group, primarily to bid for the Manila International Container Terminal (MICT) contract.
After securing the MICT contract in 1988, Razon led the development program for MICT, which marked the beginning of ICTSI's ascension.
Under Razon's leadership, ICTSI expanded its operations internationally and domestically, launching an ambitious expansion program in 1994.
Apart from his endeavors in port operations, Razon has diversified his investments into power, mining, oil and gas exploration, and leisure facilities.
Enrique Razon acquired MORE Power (MORE Electric and Power Corporation or Monte Oro Resources), replacing Panay Electric Company (PECO) as Iloilo City's sole power distributor in 2019, facilitated through a legislative franchise.
Razon is the chairman and CEO of ICTSI, a Manila-listed company that stands as a Philippine port-handling giant.
He also serves as the chairman of Bloomberry Resorts Corp., overseeing the development of Solaire Resort and Casino, a $1.2 billion integrated resort complex in the Philippines' Entertainment City.
In addition, Razon chairs Manila Water, the private concessionaire of Metropolitan Waterworks and Sewerage System, serving a population exceeding 7 million in the East Zone of Metro Manila and Rizal Province.
Razon established the ICTSI Foundation, Inc., to oversee and implement corporate social responsibility initiatives within the ICTSI Group.
He is a prominent supporter of Philippine golf, backing the Philippine Golf Tour and extending assistance to amateur golf development through programs like ICTSI-The Country Club.
In 2003, Razon donated ₱50 million to De La Salle University for sports development, allocating funds for the Enrique M.
Razon Sports Complex, athletic scholarships, and a sports solidarity fund.
Source: Grizzly Bulls reporting
Methodology:Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. He studied at De La Salle University in Manila.
He is married to Felicia “Lizzy” Santos, a board member of the Child Protection Network.
Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. 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.
This company was a joint project between Razon and Walter Brown's A. Brown Company and held a 30% stake in the National Grid Corporation of the Philippines.
Razon also invested around $200 million in Bloomberry Investments Holdings, Inc., one of the four gaming companies licensed by the Philippine Amusement and Gaming Corporation to establish a casino in the developing casino city in the Philippines.
Additionally, Razon was involved in the newspaper industry, owning Manila Standard, which he later sold to Martin Romualdez, the owner of the Journal Group of Publications, after purchasing shares in Yuchengco and Soriano.
Philanthropy and Other Interests
Enrique Razon Jr.
is known for his philanthropic efforts, dedicating a portion of his income to charitable causes. 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. ICTSI's port terminals operated in Manila, Subic, Batangas, General Santos City, Poland, and Brazil.
Business Ventures and Investments
In 2010, Henry Sy Jr.'s company, OneTaipan, acquired 100% of Monte Oro Resources Grid for $350 million.
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Edited by:Lee Bailey
.
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.
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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.
Grizzly Bulls strives to provide the most accurate net worth calculations available. 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.
Enrique Razon Jr.: The port and gaming titan
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. Interestingly, just a year ago, Razon held the 4th position in the rankings, but thanks to his stake in Bloomberry Resorts and Hotels, he experienced a significant jump.
Early Career and ICTSI
In 1987, Enrique Razon Jr.
inherited the company International Container Terminal Services, Inc. Under his astute leadership, the company transformed into one of the largest organizations in its field. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.
The index is dynamic and updates daily at the close of U.S.
stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.
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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.