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Henry Sy Net Worth is$9.1 Billion
Date of Birth: Oct 25, 1924
Ethnicity: Chinese Filipino, Han Chinese
Country: Philippines
Net Worth: View Henry Sy Net Worth
Ethnicity: Chinese Filipino, Han Chinese
Country: Philippines
Net Worth: View Henry Sy Net Worth
What is Henry Sy's net worth? Henry Sy's net worth is $9.1 billion dollars which makes him the richest person in the Philippines. Born in Xiamen, China, Henry Sy moved to the Philippines, and graduated from Far Eastern University in Manila with a degree in Commercial Studies. He launched his first shoe store in Manila in the late 1950s, along with his own company, called SM Prime Holdings. Less than fifteen years later, his small shoe store had grown into SM Quiapo, the first standalone department store for SM. This department store grew into SM Supermall. SM Prime Holdings eventually became Manila's largest and most successful mall development firm. Henry Sy currently owns 42 malls, and is the country's largest retailer. He also owns 28% of Atlas Consolidated Mining, and is the Chairman of Banco de Oro, and the owner of Chinabank. He also bought up Equitable PCI Bank, and merged it with Banco de Oro in 2007, thereby creating the second largest financial conglomerate in the Philippines.
Henry Sy, Sr. (Chinese: ???; pinyin: Shi Zhicheng; born December 25, 1924) is a Chinese Filipino businessman and the founder of SM Group and chairman of SM Prime Holdings, the largest retailer and shopping mall operator in the Philippines. He is acknowledged as the country's Retail King.
Henry Sy was born to a poor family in Xiamen, China on December 25, 1923. He is the son of Henry H. Sy. He immigrated to the Philippines and got his start by selling rejected and over-run shoes from Marikina.
He completed his secondary education in a school now known as Chiang Kai Shek College and earned his Associate of Arts degree in Commercial Studies at Far Eastern University in 1950.
In 1958, Sy established a small shoe store in Quiapo, Manila that marked the establishment of SM Prime Holdings. In November 1972, the small shoe store became SM Quiapo, SM's first standalone department store.
On November 25, 1985, he established his first SM Supermall, SM City North EDSA.
He is the Philippines' richest man, gaining $5 billion in 2010, amid the global financial crisis. The huge gain was due to his holding company, SM Investments Corporation, which has interests in Banco de Oro, inter alia. Forbes magazine's 2008 list of 40 wealthiest Filipinos, revealed the Sy family's net worth was $6.2 billion. Earlier, he was the second wealthiest individual in the Philippines, next to Lucio Tan, and (as of 2010) 201st in the world.
Sy is considered a tai-pan. The Sy group is the operator of Banco de Oro and owner of Chinabank. In 2006, he bought the remaining 66% of Equitable PCI Bank, the Philippines third largest lender, in which he already had a 34% stake, and merged it with Banco de Oro in 2007. The merger created the Philippines' second largest financial institution with resources of close to $17 billion. Rumors say that the Sy family has a personal stake of $4 billion in these three banks, although there is no sufficient evidence to strongly substantiate that.
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Henry Sy was born to a poor family in Xiamen, China on December 25, 1923. He is the son of Henry H. Sy. He immigrated to the Philippines and got his start by selling rejected and over-run shoes from Marikina.
He completed his secondary education in a school now known as Chiang Kai Shek College and earned his Associate of Arts degree in Commercial Studies at Far Eastern University in 1950.
In 1958, Sy established a small shoe store in Quiapo, Manila that marked the establishment of SM Prime Holdings. In November 1972, the small shoe store became SM Quiapo, SM's first standalone department store.
On November 25, 1985, he established his first SM Supermall, SM City North EDSA.
He is the Philippines' richest man, gaining $5 billion in 2010, amid the global financial crisis. The huge gain was due to his holding company, SM Investments Corporation, which has interests in Banco de Oro, inter alia. Forbes magazine's 2008 list of 40 wealthiest Filipinos, revealed the Sy family's net worth was $6.2 billion. Earlier, he was the second wealthiest individual in the Philippines, next to Lucio Tan, and (as of 2010) 201st in the world.
Sy is considered a tai-pan. The Sy group is the operator of Banco de Oro and owner of Chinabank. In 2006, he bought the remaining 66% of Equitable PCI Bank, the Philippines third largest lender, in which he already had a 34% stake, and merged it with Banco de Oro in 2007. The merger created the Philippines' second largest financial institution with resources of close to $17 billion. Rumors say that the Sy family has a personal stake of $4 billion in these three banks, although there is no sufficient evidence to strongly substantiate that.
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Henry Sy Latest News
SM Investments Says Tourism Push to Lift Returns: Southeast Asia
SM Investments Corp. (SM), Philippine billionaire Henry Sy’s holding company, forecasts return on equity will rise to 15 percent in three to five years as its tourism investments, including a Manila casino, gain traction. SM Investments ...
Posted: May 13, 2013, 9:05 am
Billionaire Sy to Merge Real Estate Assets in SM Prime (1)
Philippine billionaire Henry Sy will merge property units and assets under SM Prime Holdings Inc. (SMPH) this year that will create the country’s biggest developer with at least $14 billion in market capitalization. SM Land Inc., a closely ...
Posted: May 30, 2013, 5:00 pm
SM property companies in mega-merger
MANILA, Philippines - The Henry Sy-led SM Investments Corp. on Friday announced a consolidation of its property businesses, to be folded under SM Prime Holdings, creating the country's largest property company by market capitalization and one of the ...
Posted: May 31, 2013, 12:00 am
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