Henry Sy Sr. passed away today, Saturday.
According to an ABS-CBN report, Steven Tan, SM Supermalls COO released a statement saying-
“With deep sadness, I would like to inform the group that our beloved Chairman Tatang, Mr. Henry Sy Sr, passed away peacefully in his sleep early Saturday morning. Please pray for the eternal repose of his soul,”
“He passed away peacefully in his sleep early Saturday morning”
Details of his wake and internment has yet to be announced.
For 11 years, Forbes listed Henry Sy Sr. (Henry T. Chi Sieng Sy Sr.) as Philippine’s richest man with an estimated net worth of $19- billion.
From his humble beginnings with the Shoemart footwear shop in Manila, Sy has gone a very long way. His business has expanded to SM Prime Holdings, that also had stores in mainland China , BDO Unibank, SM Development Corp. and Belle Corp.
He was married to Felicidad Tan has six children namely Teresita Sy-Coson, Harley T. Sy, Herbert T. Sy, Hans T Sy, Elizabeth T. Sy, and Henry T. Sy Jr.
Before his passing, he has chosen a long-time associate, Jose Sio, to be his successor as chairman of SM Investments. His eldest daughter Teresita Sy-Coson and son Henry Sy Jr remain as co-vice chairpersons at SM Investments, where Harley Sy is also an executive director.