Henry Sy Net Worth
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3 min read
Henry Sy Net Worth and Biography
| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| $19 billion | N/A | N/A | Xiamen, China | Male | N/A | Businessman | Philippine |
Highlights
Henry Sy, the late Filipino businessman, had a net worth of $19 billion at the time of his death in 2019. He was considered the richest person in the Philippines during his lifetime. Sy was the founder and chairman of SM Investments, a conglomerate involved in property development, banking, and retail. He also owned significant stakes in other companies such as SM Prime Holdings, Belle Corp, China Banking, and BDO Unibank.
Early Life
Henry Sy was born in Xiamen, China, to a poor family. He later migrated to the Philippines and graduated from Far Eastern University in Manila with a degree in Commercial Studies. It was in the late 1950s that he opened his first shoe store in Manila, marking the start of his entrepreneurial journey.
Career
Sy’s shoe store in Manila eventually evolved into SM Quiapo, the first standalone department store for his company, SM Prime Holdings. Over time, SM Quiapo grew into SM Supermall, which became the flagship establishment of SM Prime Holdings, the largest and most successful mall development firm in Manila. Henry Sy’s empire expanded to include 42 malls, making him the country’s largest retailer. Besides his retail ventures, he also owned a significant stake in Atlas Consolidated Mining and served as the chairman of Banco de Oro.
In 2007, Sy acquired Equitable PCI Bank and merged it with Banco de Oro, creating the second largest financial conglomerate in the Philippines. This move further propelled his success and influence in the financial sector.
Personal Life
Henry Sy passed away on January 19, 2019, at the age of 94. He left behind a legacy as one of the most prominent businessmen in the Philippines. He was known for his humble beginnings, hard work, and dedication to his businesses. Sy was also recognized for his philanthropy, contributing to various charitable causes throughout his life.
Net Worth Over Time
As mentioned earlier, Henry Sy’s net worth at the time of his death was estimated at $19 billion. His wealth primarily stemmed from his ownership of SM Investments, where he held a 56 percent stake. The Sy family also owns 20 percent of SM Prime Holdings and had significant investments in Belle Corp, China Banking, and BDO Unibank.
Components of Net Worth
Henry Sy’s net worth comprised his ownership stakes in various companies, including SM Investments, SM Prime Holdings, Belle Corp, China Banking, and BDO Unibank. It is important to note that these figures are approximate and subject to change over time due to market fluctuations and other factors.
In conclusion, Henry Sy, the legendary Filipino businessman, had a remarkable journey from humble beginnings to becoming the richest person in the Philippines. His vision and entrepreneurial spirit transformed the retail and property development landscape in his country. With his passing, his net worth serves as a testament to the incredible success he achieved throughout his lifetime.
