December 25, 1924 |
Amoy, Republic of China
|Education||Far Eastern University
De La Salle University
|Occupation||Chairman and CEO of SM Investments Corporation
SM Prime Holdings
SM Development Corporation and Highlands Prime Holdings
Banco de Oro Chairman Emeritus
China Banking Corporation Honorary Chairman
|Known for||Founder of SM Group|
|Net worth||US$13 billion (September 2014)|
|Title||Henry Sy & family|
|Parents||Henry H. Sy
Tan O Sia
Henry Sy, Sr. (Chinese: 施至成; pinyin: Shī Zhìchéng; Pe̍h-ōe-jī: Si Chì-sêng; born December 25, 1924) is a Chinese Filipino businessman with interests in retailing, real estate, hospitality, banking, mining, education including healthcare services. He pioneered the establishment of SM Malls, anchored by Shoemart Department Store and Supermarket earning him the title, the Philippines' Retail King. He is the chairman of SM Prime Holdings, Inc., the holding corporation for all his business interests in his vast business empire. In 2011, Forbes Magazine listed him as the richest man in the Philippines.
He has six children.
Henry Sy was born to a poor family in Xiamen, China on December 25, 1924. He is the son of Henry H. Sy and Tan O Sia. He immigrated to the Philippines and got his start by selling rejected and overrun shoes from Tondo.
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.
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.
Henry Sy, Sr., was named "Management 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. Several of his children hold senior management positions in his companies, although he has groomed daughter Teresita Sy-Coson and his grandchildren Hailey Sy-Coson, Darcie Sy, Lance Harold Sy, Cheska Sy, Honey Sy-B., Janella Sy, Sarita Sy, Samantha Ong-Sy and Josiah Sy as his successors. Sy's holding company, SM Investments Corporation, has consistently been cited as one of the Philippines best-managed companies. On May 20, 2006, the SM Mall of Asia, built in the reclamation area of Pasay City, was opened to the public. It is the third-largest mall in the world as of 2012.
- Holding company
- Real estate
- Belle Corporation - is a leading Philippine developer of high-end residential and leisure properties.
- Highlands Prime, Inc. - engages in developing leisure properties in the Philippines.
- Management Man of the Year" by the Makati Business Club – 1999
- Honorary Doctorate in Business Management by De La Salle University in January 1999
- 40 Richest Filipinos of 2008
- Forbes magazine Heroes of Philanthropy 2009
- 1st Chinese-Filipino recipient of the PCE Big Brother of Filipino Entrepreneurs award (2006)
- 1st Chinese-Filipino recipient of the PRA President's Award (2005)
- Top 10 richest Chinese in the world
- Philippine Businessman | Henry Sy, Sr.. People (2009-08-10). Retrieved on 2012-01-02.
- Stepping Up to the Big Time – Sunday Inquirer Magazine. Inquirer.net. 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. 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. Philstar.com. August 15, 2010. Retrieved on 2012-01-11.
- "SM's Henry Sy hikes stake in SMC to 11%". http://www.philstar.com. August 13, 2005.
- "(UPDATE 2) Henry Sy son in P45-B Meralco stake bid". abs-cbnnews.com. October 30, 2009.