Henry Sy Net Worth is$9.1 Billion
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Date of Birth: Oct 25, 1924
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 Latest News

SM Group scores big in China

While other investors have shied away from China, the Sy family – whose patriarch Henry Sy Sr. traces his roots in Jinjiang – has continued to be bullish about the Chinese market. Hans disclosed that they are venturing into the residential market in ...
Posted: October 19, 2016, 9:56 am

BDO to issue dollar notes for funding needs

Standard Chartered Bank and UBS will act as joint lead managers for the issue, according to the bank, which is a subsidiary of taipan Henry Sy’s SM Investments Corp. “These will represent the direct, unsecured obligations of BDO. The senior notes are ...
Posted: October 17, 2016, 10:07 am

Filipinnavation in Tourism: Creating the New Generation of Leaders

As Miriam College celebrates its 90th year, to promote innovation and creativity with the launching of Henry Sy Sr. innovation Center, the 4th Year Leisure and Tourism Management students will be hosting a one-day conference entitled “Filipinnavation in ...
Posted: October 20, 2016, 1:20 pm
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