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Henry Sy
From Wikipedia, the free encyclopedia
This is a Chinese name; the family name is Sy.
Henry Sy
Henry [Link]
Henry Sy in 2009
Native name ???
Born October 25, 1924 (age 93)
Fujian, Republic of China
Residence Manila, Philippines
Nationality Filipino
Education Far Eastern University
Occupation Businessman
Known for Founder of SM Group
Net worth US$19.8 billion (February 2018)[1]
Spouse(s) Felicidad Tan-Sy
Children 6 (inc. Teresita)[2]
Parent(s) Henry H. Sy
Tan O Sia
Henry T. Sy Sr. (Chinese: ???; pinyin: Shi Zh�ch�ng; Pe?h-oe-ji: Si Ch�-s�ng; born
on October 25, 1924) is a Chinese-Filipino business magnate, investor, and
philanthropist. He is involved in the industries of real estate, hospitality,
banking, mining, education, and health care. He is responsible for the
establishment of SM Malls, anchored by Shoemart Department Store and Supermarket.
He is the founder of SM Prime Holdings, the holding corporation for all his
business interests in his vast business empire. In 2015, Forbes magazine listed him
as the richest man in the Philippines, ahead of 11 other billionaires including
John Gokongwei and Lucio Tan.[3]
Early life
Henry Sy was born to a poor family in Ankhue Village, Jinjiang City Fujian,
Province of China on October 25, 1924. He is the son of Henry H. Sy and Domini
Magdaraog.[4]
He completed his secondary education in a school now known as Chiang Kai Shek
College[5] and earned his Associate of Arts degree in Commercial Studies at Far
Eastern University in 1950.[6]
Career
In 1956, Sy established a small shoe store in Quiapo, Manila that marked the
establishment of SM Prime Holdings.[7] In November 1972, the small shoe store
became SM Quiapo, SM's first stand alone department store.
On November 8, 1985, he established his first SM Supermall, SM City North EDSA.[8]
Sy was named "Richest Man of the Year" by the Makati Business Club in 1999 and was
conferred an Honorary Doctorate in Business Management by De La Salle University in
January of that year. He organized the SM Foundation Inc., which helps
underprivileged and promising young Filipinos.
In August 2005, Sy's stake in the San Miguel Corporation, Southeast Asia's largest
food and beverage conglomerate, reached 11%.[9] He sold that stake in October
2007[10] for $680 million.
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 which is
merged with BDO today, 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.
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-wealthiest in the world.
In 2017, Sy stepped down as chairman of SM Investments Corporation.[11]
References
"Henry Sy & family". Forbes online. Retrieved 4 August 2017.
Top 10 richest Chinese in the world
Leyco, Chino (March 2, 2016). "Henry Sy remains PH's richest person � Forbes".
Manila Bulletin. Retrieved March 2, 2016.
"Henry Sy: Father of Philippine Retail". [Link]. Retrieved 2 October
2017.
Stepping Up to the Big Time � Sunday Inquirer Magazine Archived 2013-03-30 at the
Wayback Machine.. [Link]. January 11, 2009. Retrieved on 2012-01-11.
Bignotia, Carmela (2007-03-10). "Henry Sy Sr.: The Man Truly Has It All".
Retrieved 2007-10-16.
Philippines mall mogul rakes it in as crisis hits rich: Forbes Archived 2011-05-20
at the Wayback Machine.. AFP October 15, 2008
The mall that started it all: Celebrating 25 years of SM City North EDSA by Wilson
Lee Flores � The Philippine Star � Lifestyle Features � Sunday Life. [Link].
August 15, 2010. Retrieved on 2012-01-11.
"SM's Henry Sy hikes stake in SMC to 11%". Philstar Global. August 13, 2005.
"(UPDATE 2) Henry Sy son in P45-B Meralco stake bid". ABS CBN News. October 30,
2009.
Henry Sy steps down as chairman of SMIC
Categories: 1924 birthsLiving peopleBusinesspeople from FujianChinese emigrants to
the PhilippinesFilipino billionairesFilipino people of Chinese descentFilipino
businesspeopleNaturalized citizens of the PhilippinesPeople from XiamenFar Eastern
University alumniFilipino company founders
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This page was last edited on 27 February 2018, at 05:52.
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