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

BDO raises record P11.8 B from oversubscribed LTNCD

The bank owned by retail and banking magnate Henry Sy said strong demand from both retail and institutional investors resulted in an oversubscription of almost two and a half times the issue size. This prompted the country’s largest lender to cut short ...
Posted: August 11, 2017, 2:09 pm

SMIC upbeat on prospects despite peso depreciation

The holding firm of the country’s richest man Henry Sy, Sr. has property, banking, and retail as its core businesses. “I’m not worried. I think the BSP (Bangko Sentral ng Pilipinas) knows what’s going on and how to handle it. I guess it’s part of ...
Posted: August 18, 2017, 9:36 am

Fighting obsolescence with innovation

For Tan, the depressing scenes of malls practically becoming haunted spaces will not replay in the Philippines because malls in the country, particularly those with the ubiquitous initials for what was once Shoemart founded by Henry Sy Sr. in 1958 ...
Posted: July 30, 2017, 1:00 am

NEDA reviews San Miguel's proposed airport in Bulacan

SMC's proposal could go head-to-head with the $50-billion proposal of All-Asia Resources & Reclamation Corporation (ARRC) – backed by Henry Sy-led Belle Corporation and Solar Group – to develop an airport and economic zone at Sangley Point.
Posted: August 10, 2017, 12:00 pm

SM Group posts P16.6-b net profit

Conglomerate SM Investments Corp., the holding company of tycoon Henry Sy, said Wednesday net income in the first half climbed 9 percent to P16.6 billion from a year ago, boosted by strong contribution from core property, bank and retail businesses.
Posted: August 9, 2017, 7:10 am
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