Henry Sy, Sr., the founder of the SM Group and the richest Filipino according to Forbes, has an eldest son named Henry Sy, Jr. He is the owner's eldest son, and his three sisters and two brothers are also active in the company. Affectionately known as "Big boy" by his loved ones, he and his older sister, Tessie, carry on their parent's legacy.
Sy serves as both the Vice Chairman and CEO of SM Development Corporation. Henry Jr. had already begun to take over key operations at SM Group, one of the largest conglomerates in the country, before the death of his father. In the wake of his takeover, he was voted in as President and CEO of the National Power Grid Corporation of the Philippines.
(Photo from the wires)
Sy received his bachelor's degree in business management from De La Salle University in 1974. In recent times, he has acquired Enrique Razon's stake in NPGC.
He was appointed to the board of directors at SM Prime Holdings in 1994 and eventually rose to the position of chairman of the board in 2014. The company's real estate division builds shopping centers, apartments, offices, hotels, and convention centers, among other types of buildings.
As well as San Miguel Corporation and China Banking Corporation, he sits on the boards of SM Synergy Properties Holdings Corp., Shoemart Inc., Sysmart Corp., Leisure and Resorts World Corp., and AB Leisure Exponent, Inc.
Sy is in charge of all real estate acquisitions and development activities for SM Group, from searching for and vetting potential sites to negotiating with developers and providing input on architectural plans. For over five years, Sy has served as a director or officer for businesses in the banking and real estate development industries.
The former Duterte administration's push forward with nationwide infrastructure projects was extremely advantageous to the company's timing when he founded Big Boss Cement in 2017. Big Boss Cement's plant in Porac, Pampanga is well-known for its use of volcanic debris in the production of cement.
The SM Group has been recognized regularly for its many positive social and environmental initiatives, as well as its commitment to gender equality and diversity in the workplace. Forbes also recognizes it as one of the most reliable and successful businesses worldwide.
Read similar stories of the other billionaires in the Philippines: