Ports Billionaire Enrique Razon Jr. Drives Global Expansion To Become The Philippines’ Richest Tycoon

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This communicative is portion of Forbes’ sum of Philippines’ Richest 2026. See the afloat database here.

Ports billionaire Enrique Razon Jr. charged up to go the Philippines’ richest personification this twelvemonth for the first clip since his debut connected the database successful 2007. Shares of his International Container Services (ICTSI), wherever he is president and president, much than doubled successful the past year, making it the country’s astir valuable publically traded institution and helping Razon’s nett worthy to balloon astatine astir the aforesaid complaint to $21.8 billion. The larboard usability reported grounds net for 2025, pinch nett profit climbing 23% to $1.1 cardinal connected an 18% emergence successful gross to $3.2 billion. The maturation was driven by Razon’s description ist moves crossed the state and beyond.

In December, the institution signed a 25-year associated task statement pinch South Africa’s state-owned Transnet to run a instrumentality terminal astatine the Port of Durban, which handles astir half the country’s larboard traffic. ICTSI says it will walk adjacent to $650 cardinal connected upgrades. The aforesaid month, the institution announced a $175 cardinal description of its Brazilian terminal astatine Rio de Janeiro. On its location base, ICTSI has a $1 cardinal spending scheme that includes upgrading its flagship larboard successful Manila and building a caller instrumentality terminal successful Batangas province, southbound of the capital. A June investigation study from Malaysia’s Maybank notes that specified investments will “support sustained compounding of net complete the agelong term.”

Razon is besides pumping money into his different businesses, which see casinos, power and mining. In March, his privately held Prime Infrastructure Capital agreed to bargain SierraCol Energy, a Colombian lipid and state producer, from backstage equity patient Carlyle.