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Philippines’ wealthiest man, Henry Sy, Sr. passed away

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Philippines’ wealthiest man, Henry Sy, Sr. passed away
Photo courtesy of Forbes Magazine

Business and Retail mogul Henry Sy Sr., the country’s  richest wealthiest man and gracious philanthropists has passed away on Saturday, according to The Philippine Business and News source who is closed to the Sy family.

|In the Viber message sent to THEPHILBIZNEWS,  Sy Sr.passed away peacefully while sleeping early Saturday morning at the age of 94 years old.Other details on the business tycoon wake and interment were still being arranged by the bereaved family.

Sy holds the record of  the richest man in the Philippines for 11 years in a row as published by Forbes magazine, with estimated net worth at $19 billion.

He was the brain and catalyst of the SM Group and was the chairman emeritus of SM Prime Holdings Inc., SM Development Corporation, and Highlands Prime Inc., BDO Unibank Inc., and honorary chair of China Banking Corporation

His humble beginnings has inspired a lot of people when Sy opened the first ShoeMart store in 1958 and has since evolved into a conglomerate with three main lines of businesses – retail, banking, and property.
Dubbed as the most gracious and generous donor to a lot of charitable causes, allotting millions of pesos each year to finance the college scholarships of thousands of deserving but underprivileged Filipino youth, sports activities and many more.

Details on the wake will be announces later.

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