Richest citizen of Philippines passed away
Almaty. January 21. KazTAG - Retail magnate Henry Sy, Sr. passed away in his sleep Saturday morning, his family confirmed. He was 94, reports CNN Philippines.
Sy’s death was officially announced in a statement by the SM Group, but provided no further details.
“We are truly grateful for the outpouring of sympathy on the passing of our father, Henry Sy, Sr. May we respectfully ask for privacy today to give the family time to reflect and to finalize arrangements,” the family said in a separate statement.
Sy was Chairman Emeritus of SM Investments Corporation (SMIC), holding company of the country's largest retailer. The Sy business empire also has stakes in the banking, and property sectors.
The Filipino-Chinese taipan topped Forbes Magazine’s 2018 list of the wealthiest people in the Philippines with a net worth of $18.3 billion or roughly ?986 billion. He also dominated the 2017 list with a net worth of $18 billion.
In another statement, SMIC Chairman of the Board Jose Sio expressed his condolences.
"He was a happy man knowing that he left our world a better place to live. He was an icon in Philippine retail, banking and real estate. Above all, he was a caring father and a god loving man. I will miss him," he said.
Sy founded the SM Group and was Chairman Emeritus of SM Prime Holdings, Inc., SM Development Corporation, Highlands Prime, Inc., BDO Unibank, Inc., and Honorary Chairman of China Banking Corporation.
Photo source: picture from an open source