For 9 years straight, the Chinese-Filipino business magnate remains to be the Philippines’ richest man. Sy owns various business properties all throughout the country, including the Sy family owned SM Supermalls. SM is considered the largest retailer in the Philippines to date, holding stakes in retail, property, and banking.
According to Forbes magazine, their list of Philippines 50 richest is based upon the shareholding and financial data that they have gathered from a number of sources including stock exchanges, business analysts, and families and individuals.
The net worth of the men on their list is calculated based on the exchange rates and stock prices. In contrast to their billionaire rankings, Forbes’ list includes shared family fortunes of their extended relatives.
Last February 2016, SM announced that they are merging all of their retail-related ventures under SM Retail. On March of the same year, the company announced its partnership with Lazada.
Last month, Henry’s son, Hans Sy, announced that his father will semi-retire from their property firm and will take a director’s role later this year.
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*photo from http://primer.com.ph/
