Content Writer: Janice Chew • Monday, 26/08/2026 - 00:10:42 - AM
Enrique Razon Jr., owner of Solaire Resort Entertainment City and Solaire Resort North, has become the Philippines’ richest person for the first time.
According to the Forbes Philippines’ 50 Richest 2026 list, Razon’s estimated net worth reached a record US$21.8 billion—almost double the US$11.5 billion recorded in 2025. He now sits well ahead of the Sy siblings, who ranked second with a combined fortune of US$9.2 billion.
Ports Power the Rise
Although Razon is widely recognised in the gaming industry through Bloomberry Resorts and its Solaire properties, the biggest driver of his growing fortune was International Container Terminal Services Inc. (ICTSI).
ICTSI’s revenue increased by 27% to US$1.92 billion during the first half of 2026, while recurring net income rose by 25% to US$604.7 million. The company benefited from higher cargo volumes, new terminals and the resilience of its international portfolio.
A More Diversified Business Empire
Razon’s business interests now stretch across ports, gaming, infrastructure, water and energy. This diversification has allowed stronger parts of his portfolio to support the group when other sectors face more challenging conditions.
Bloomberry, for example, reported softness in its VIP and premium-mass gaming segments during the first quarter of 2026. However, Solaire North generated EBITDA of PHP1.2 billion, while the group’s non-gaming revenue continued to grow.
What It Means for the Gaming Industry
Razon’s rise highlights the value of combining casino resorts with businesses that generate revenue across different markets and economic cycles.
For Bloomberry, access to a broader and financially stronger business network could provide additional support as Solaire North matures and the company adjusts its strategy around domestic mass-market and non-gaming customers.
Razon may be known to casino audiences as the man behind Solaire, but his position at the top of the Philippines’ rich list is ultimately a story of global diversification—with ports providing the strongest engine of growth.