Interesting Facts About the Richest Filipino in the World
Bill Gates, Warren Buffet and many more are among the most famous billionaires in the world. Of course don’t forget the youngest to become a millionaire through his own will, not by inheritance, the FaceBook founder and CEO – Mark Zuckerberg.
…”I wanna be a billionaire so freakin’ bad…” says one of the most popular songs of the present generation. So, would you really like to be a billionaire? Read the story of the man below and learn how to become a billionaire.
The richest man in the Philippines is Henry Sy Sr. He is also one of the richest men in the world. Here are some of the most interesting facts about this very rich man.
1.) Henry Sy, Sr. was born on Christmas Day – December 25, 1924. He will be turning 88 this coming December.
2.) He is Chinese by blood but Filipino by nationality. Henry was born in Xiamen, China and migrated in the Philippines when he was still young. He is now a resident of Manila, Philippines.
3.) Henry Sy’s original birth name is Shi Zhì Cheng but changed his legal name into Henry Sy after being granted a Filipino citizenship.
4.) He enrolled as a grade one student at the age of 12 in an Anglo-Chinese School in Quiapo. He studied in Chiang Kai Shek College and earned his Associate of Arts degree in Commercial Studies at Far Eastern University in 1950.
5.) Henry Sy Sr. is the Chairman and CEO of SM Investments Corporation, SM Prime Holdings and SM Development Corporation and Highland Prime Holdings.
6.) He is also the chairman emeritus of Banco De Oro, honorary chairman of China Banking Corporation and is known as the founder of SM Group.
7.) This Chinese-Filipino business tycoon has net worth of US$ 5.4 Billion as of 2011.
8.) His SM Prime Holdings is the largest retailer and shopping mall operator in the Philippines and is recognized as the country’s "Retail King".
9.) At the age of 22 while still studying, he set up his shoe store with a few pair of shoes in Quiapo, Manila in 1946.
10.) Henry Sy Sr. opened the very first Shoemart store along Carriedo St. in Avenida Rizal in downtown Manila.
11.) This shoe store which was later called SM became Asia's biggest shopping mall operator with more than 30 malls throughout the archipelago. SM simply means “Shoe Mart”.
12.) Three SM Malls are among the top 10 largest malls in the world – SM City North EDSA, SM Mega Mall in Mandaluyong and SM Mall of Asia in Pasay City
13.) The SM Group has also established 3 supermalls in China, namely SM North Xiamen, SM South Xiamen and SM Chuan while an SM supermall was also opened in Guam.
14.) In 1976, he acquired Banco De Oro Unibank Inc. (BDO) which is originally known as Acme Savings Bank.
15.) Henry Sy, Sr., was named “Management Man of the Year” by the Makati Business Club and was conferred an Honorary Doctorate in Business Management by De La Salle University-Manila in January 1999.
16.) His SM Investments Corporation has been consistently cited as one of the Philippines best-managed companies.
17.) His wife, Felicidad, is also a Chinese immigrant and they had 6 children – Teresita, Hans, Henry Jr., Elizabeth, Herbert and Harley.
18.) Teresita manages BDO, the department stores and retail stores while Hans is in charge of the shopping centers and president of SM Prime Holdings and vice chairman of China Bank.
19.) Henry Jr. takes care of the real estate ventures of the company while Elizabeth is involved with tourism ventures like the Taal Vista Hotel in Tagaytay City.
20.) Herbert manages the SM Supermarkets and Harley is the president of SM Investments Corporation, the flagship holding company.
21.) Henry SY Sr. sincerely followed Confucian values and he brought up his children knowing the value of hard work and perseverance.
22.) Her daughter Teresita Sy-Coson and his grandchildren Hailey Sy-Coson, Darcie Sy and Josiah Sy are being groomed as his successors.
23.) The four characteristics this admirable man possesses for others to emulate – hard work, determination, perseverance and will power.