Henry-Sy-Died-at-Age-94-founder-of-SM

Henry Sy died at age 94. He was a business tycoon and founder of SM Group. According to announcements, Henry Sy died in his sleep this morning. Announcement came from Sy’s daughter Teresita Sy-Coson and Jose Sio, the SM Investments Corp chairman.

Henry-Sy-Died-at-Age-94-founder-of-SM

Related: Effect of CEO Death on Stock Price

Sy family net worth is $6.2 billion last 2018. In terms of ranking in wealth, Sy was the second-wealthiest individual in the Philippines in 2018. Henry Sy started as a shoe seller, and was able to become the Philippines’ biggest retailer. Henry Sy was born poor from a Ankhue Village, in Jinjiang City Fujian, Province of China on October 25, 1924.

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