How rich is Henry Sy?
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Henry Sy, Sr. (Chinese: ; pinyin: “Sh Zhchng”; Pehej: “Si Station-sng”; created October 15, 1924) is a Chinese Filipino businessman with interests in retailing, real estate, hospitality, banking, mining, instruction including health care services. In 2011, Forbes Magazine listed him as the wealthiest guy in the Philippines. Sy is considered a taipan. The Sy group is the operator of Banco de Oro and owner of Chinabank. In 2006, he purchased the remaining 66% of Equitable PCI Bank, the Philippines third biggest lender, in which he already had a 34% stake, and united it with Banco de Oro in 2007. The merger created the Philippines’ second largest financial institution with resources of close to $17 billion. Gossips state the Sy family has a personal position of $4 billion in these three banks, although there isn’t any satisfactory evidence to firmly substantiate that. In August of 2005, Sy’s position in the San Miguel Corporation, Southeast Asia’s biggest food and drink conglomerate, reached 11%. He sold that position in October of 2007 for $680 million. He coordinated the SM Foundation Inc., which helps underprivileged and promising young Filipinos. Sy’s holding company, SM Investments Corporation, has consistently been mentioned as among the Philippines best-managed firms. On May 20, 2006, the SM Mall of Asia, constructed in the reclamation area of Pasay City, was opened to the general public. It’s the third-biggest mall on the planet by 2012.