Henry Sy

$20.00 B

Ranked #52 in World

About Henry Sy

Henry Sy Sr., a self-made tycoon born in Fujian, China, in 1924, who moved to the Philippines at 12, significantly influenced the country's retail and banking sectors. Completing his education in Manila, he spearheaded his entrepreneurial journey by opening a shoe store in Quiapo in 1948, which later evolved into SM Prime, a cornerstone of Philippines' retail industry, with the establishment of ShoeMart in 1958 and SM City North EDSA in 1985. Sy's business acumen extended to banking, acquiring Acme Savings Bank in 1967, which eventually became BDO, solidifying its stance as a leading financial institution. Sy, who passed away in 2019 at the age of 94, was celebrated for his substantial contributions to the economy and philanthropy through the SM Foundation Inc., aimed at assisting the less fortunate.

Born

October 25, 1924 in Jinjiang, Fujian, Republic of China

Died

January 19, 2019 (aged 94)

Source Of Wealth

Diversified

Industries

Diversified

Citizenship

Philippines

Education

Bachelor of Arts/Science, Far Eastern University

Spouse

Felicidad Tan Sy

Children

6, including Teresita Sy Coson

Henry Sy Sr. was born on October 25, 1924, in Jinjiang, Fujian, China. At the age of 12, he moved to the Philippines with his family. He completed his secondary education in Manila and went on to earn an Associate of Arts degree from Far Eastern University.

Henry Sy: Family

Henry Sy Sr. was married to Felicidad Tan, and together they had six children. His children, Teresita and Henry Jr., currently serve as vice chairpersons of SM Investments.

Henry Sy: Career Highlights

Henry Sy Sr.'s career in the business world began when he worked as a store manager in the local shoe industry. In 1948, he opened his first shoe store in Quiapo, Manila. This marked the beginning of his retail empire.

In 1958, he established ShoeMart, which later became the foundation of SM Prime, one of the largest shopping mall operators in the Philippines. In 1967, he acquired Acme Savings Bank, which was later renamed Banco de Oro (BDO).

In 1972, SM Quiapo, SM's first stand-alone department store, was opened. This was followed by the establishment of SM City North EDSA, his first SM Supermall, in 1985. Under his leadership, the SM Group expanded rapidly, with more shopping malls being built in the Philippines and China.

Henry Sy Sr. also ventured into other industries, including banking and real estate. His holding company, SM Investments, became one of the best-managed companies in the Philippines. In 2007, he acquired Equitable PCI Bank and merged it into BDO, making it the second-largest financial company in the country.

Henry Sy: Companies

Henry Sy Sr. was the founder and chairman of several companies, including:

SM Prime Holdings, Inc.
Banco de Oro (BDO) Unibank, Inc.
China Banking Corporation
SM Investments Corporation
Belle Corporation
National Bookstore
Watsons Philippines
The SM Store
Savemore
Walter Mart

Henry Sy: Major Achievements

Henry Sy Sr.

achieved remarkable success in business and was widely recognized for his contributions. Some of his major achievements include:

Building SM Prime into one of the largest shopping mall operators in the Philippines and China.
Transforming Banco de Oro (BDO) into the second-largest financial company in the Philippines.
Establishing SM Foundation Inc. to support various philanthropic initiatives.
Receiving numerous awards and recognitions, including the "Richest Man of the Year" award from the Makati Business Club in 1999.
Being conferred an Honorary Doctorate in Business Management by De La Salle University.

Henry Sy: Awards & Achievements

Henry Sy Sr. received numerous awards and recognitions throughout his career, including:

"Richest Man of the Year" by the Makati Business Club (1999)
Honorary Doctorate in Business Management from De La Salle University
Lifetime Achievement Award from the Philippine Retailers Association
Outstanding Filipino Retailer Award from the Philippine Retailers Association
Businessman of the Year from the Philippine Chamber of Commerce and Industry
Entrepreneur of the Year from Ernst & Young Philippines

Henry Sy: Personal Life & Legacy

Henry Sy Sr. was known for his hard work, dedication, and vision. He was a respected figure in the business community and was often referred to as the "Father of Philippine Retail." He passed away on January 19, 2019, at the age of 94, leaving behind a legacy of entrepreneurial success and philanthropy.

Henry Sy: Trivia

Henry Sy Sr. started his business with a capital of only 300 pesos (approximately $6 USD).
He was known for his frugal lifestyle and was often seen wearing simple clothes.
Sy was a big fan of basketball and owned the basketball team, the SM Men.
He was also a philanthropist and donated millions of pesos to various charitable organizations.

Wealth History

Timeline

1924

Henry Sy Sr. was born in Fujian, China.

1936

Henry Sy Sr. moved to the Philippines at the age of 12.

1948

Henry Sy Sr. opened his first shoe store in Quiapo, Manila.

1958

Henry Sy Sr. established ShoeMart, the beginning of SM Prime.

1967

Henry Sy Sr. acquired Acme Savings Bank (later Banco de Oro or BDO).

1972

Henry Sy Sr. opened SM Quiapo, SM's first stand-alone department store.

1985

Henry Sy Sr. established SM City North EDSA, his first SM Supermall.

1999

Henry Sy Sr. was named "Richest Man of the Year" by the Makati Business Club.

2019

Henry Sy Sr. passed away on January 19, at the age of 94.

Henry Sy : FAQs

What is Henry Sy's net worth?

As of 2018, Henry Sy's net worth was $20.00 billion.

What are Henry Sy's main sources of wealth?

Henry Sy's main source of income comes from Diversified.

In which industry does Henry Sy primarily operate?

Henry Sy is primarily involved in the Diversified industry.

What is Henry Sy educational background?

Henry Sy holds a Bachelor of Arts/Science from Far Eastern University.

Is Henry Sy dead?

Yes, Henry Sy died on January 19, 2019 (aged 94).

How many children does Henry Sy have?

Henry Sy has 6 children.

Who was Henry Sy Sr. and how did he start his career?

Henry Sy Sr. was a prominent Chinese-Filipino entrepreneur who began his career as a store manager in the local shoe industry before opening his first shoe store in Quiapo, Manila in 1948.

What are the key milestones in the expansion of Henry Sy Sr.'s business empire?

Key milestones include establishing ShoeMart in 1958, acquiring Acme Savings Bank (later BDO) in 1967, opening SM's first department store in 1972, and launching his first SM Supermall in 1985, culminating in the expansion of SM Group into a major conglomerate.

How did Henry Sy Sr. contribute to the Philippine economy and society?

Through his business ventures, Henry Sy Sr. significantly contributed to the economy by creating numerous jobs and through philanthropy, primarily through the SM Foundation Inc., which supports underprivileged youths, the disabled, and the elderly.

What recognitions did Henry Sy Sr. receive for his contributions?

Henry Sy Sr. 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 for his significant contributions to the Philippine economy and society.

Can you tell us about Henry Sy Sr.'s family and his legacy?

Henry Sy Sr. was married to Felicidad Tan and had six children, with Teresita and Henry Jr. serving as vice chairpersons of SM Investments, ensuring the continuity of his legacy as a pioneering entrepreneur in the Philippines.