The Making of a Mogul: Lessons from Enrique Razon, Jr.

Enrique Razon Jr., chairman and CEO of International Container Terminal Services (ICTSI), the premiere port operator in the Philippines, and the brainchild of a number of business ventures, has appeared multiple times on Forbes' World’s Billionaires List. This 2024, he ranked on the 224th spot, with a net worth of $10 billion.

In a revealing interview with Anthony Taberna, Razon offers a glimpse into his life, sharing insights from his extensive travels, unconventional educational journey, to his grounded approach to success and management.

Here are 10 intriguing facts we learned about him:

1 | In the past, he made about 200 work-related trips each year.

Before the pandemic struck, his personal airplane facilitated these extensive travels. However, shifts in the business landscape and the advent of online technology have scaled his trips down to two to three times a month. "My journeys take me far. I go to places like Brazil, Mexico, Africa, and even as far as Congo [in Central Africa]," he shares with Taberna. Though he concedes it's exhausting, he has grown accustomed to it, having done it over the last three decades.

2 He dropped out from school at age 17.

Razon attended Bowdoin College in Maine, USA, but did not complete his degree, much to his father's dismay. He said his eagerness to start working at the pier was the main reason for quitting school. "Tingin ko noon hindi ko naman matututunan sa school yung trabaho sa pier," he says.

His father got so upset that he made Razon work as a stevedore for months at minimum wage. Proving his capabilities in no time, he transitioned to the corporate sector, eventually rising to become his father's second in command. He assumed leadership of the business following his father's passing in 1994.

Despite not completing his education, Razon still values the importance of earning a degree. "Times are tougher now [than in my day]. It's more competitive and there are too many people. Back in my day, you could get by with a bit of skill. But now it's difficult. You won't get a job without a degree," he observed.

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3 | He and his father have contrasting qualities.

While he looks up to his father, Enrique Razon Sr., who founded ICTSI, Razon says they are distinct in their business philosophies. "Ang feeling nya noon mas agresibo ako. Ang gusto ko gawin mag-expand sa labas ng bansa. [Ang father ko] medyo mas conservative, old school. Minsan nagtatalo kami pero nagkakasundo naman kami sa bandang huli," he shared. The younger Razon's approach has led ICTSI to operate extensively across Asia, the Americas, Europe, the Middle East, and Africa.

4 | He usually gets six hours of sleep.

Razon is an early riser, usually waking up between 4:30 a.m. and 5 a.m., and he tends to go to bed between 9:30 p.m. and 10 p.m., though this can change based on his workload. Falling asleep comes easily to him, even when he's on a plane. His workdays are predominantly filled with phone calls and Zoom meetings.

5 | To him, accolades do not define success.

He received the title of the sixth Most Influential Person in the 2023 edition of the Asian Gaming Power 50. When asked about how he feels about the recognition, he responds with a lightheared laugh, "Hindi ko pinapansin ang mga ganyan. Baka lumaki lang ang ulo ko e. Distraction lang yun. Baka maniwala pa ako..."

He holds the title as the third richest person in the Philippines, according to Forbes. "Isa pa yun, listahan lang yun," he says. For him, the true measure of success is in how effectively he manages his businesses. "If you manage your business well, those recognitions will follow. But that's not the goal. The goal is to grow the enterprise."

6 | He's a fast reader.

He allocates one to two hours each day for reading, valuing it as an essential method of learning. On flights, he could devour up to three books. "It's hard to put down a good book," he says. The convenience of technology means he no longer needs to transport physical books. "Now, thanks to the Kindle, there's no need to carry around a bag full of books," he says.

To unwind, he exercises at his gym. When in the country, his weekends are for golfing or kiteboarding, activities that offer not just physical engagement but also a break from the rigors of daily life.

7 | He doesn't gamble.

Razon Jr. is involved in the casino and gaming industry through Bloomberry Resorts Corporation, where he serves as chairman and CEO. Bloomberry Resorts Corporation owns and operates Solaire Resort & Casino.

Despite being in the gaming industry, Razon personally steers clear of gambling. He knows the math behind it, but he doesn't play it. "Hindi ako marunong magsugal. Hindi ko nga alam ang rules e," he claims. "Nasubukan namin sa Las Vegas, wala pang 30 seconds ubos na yung $200. Mula noon ayoko na."

He acknowledges the potential detrimental impact of gambling on lives, so he supports responsible gaming practices. "Kaya yung nakikita ng mga tao ko na medyo sobra na, bina-ban na namin pumasok ng casino. Kunwari, isasanla na ang bahay, ang kotse, ititigil na namin," he says.

8 | He's a hands-on boss.

He describes himself as a meticulous leader, particularly when it comes to managing the port business. Despite managing a diverse range of businesses in the field of gaming and hospitality, utilities, and infrastructure dvelopment, he considers himself most adept in port operations and logistics, a proficiency that stems from his own grassroots beginnings, allowing him a deep understanding of every facet of the work.

9 | His entrepreneurial spirit didn't wane even amidst the pandemic.

"What are you supposed to do during a pandemic? Just sit at home? Of course, you keep working," he told Taberna. He seized investment opportunities as they came. The advent of Zoom enabled this relentless pursuit. "We even managed to complete a [port] project in Nigeria through Zoom meetings alone," he says.

10 | He believes in the value of resilience and foresight.

He emphasizes the importance of being prepared for a crisis, drawing from his experience with the Asian financial crisis. "Doon ko natutunan na kailangan lagi lang ready. Hindi ka naman kailangan mag-prepare para sa boom e. Kailangan ka mag-prepare para sa crisis," he says.

Rather than focusing on how much should be saved, he advises on ensuring a solid balance sheet. "While the environment is favorable and you're growing and earning, strengthen your balance sheet. Wag kang utang nang utang."

To the general public, he offers this advice: set aside savings for times of crisis. The unpredictability and nature of crises, as underscored by the unforeseen pandemic, highlight the essential need to have reserves. "Kasi hindi mo alam ang mangyayari. Hindi mo alam anong klaseng crisis. Sino ba ang nakapag-predict ng pandemic? Kailangan pag may crisis, may bala ka para mag-survive," he stresses.