Henry Sy still Philippines’s richest man
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Business tycoon Henry Sy topped Forbes’ list of richest Filipinos, with a 2017 net worth of $12.7 billion. This is his 10th consecutive time to top the list.
However, this is lower than his 2016 net worth of $13.7 billion.
Sy is the 94th richest billionaire in the world. The global billionaires’ list released by Forbes magazine on Monday was topped by philantrophist Bill Gates with a net worth of $86.8 billion.
The 92-year-old billionaire founded Shoe Mart in 1958 and has expanded his business to retail, banking, and property. Forbes said that SM Investments is now the largest retailer in the Philippines. Sy’s children are now running his businesses.
John Gokongwei Jr. of conglomerate JG Summit also retained his spot at second place, with $5.8 billion net worth. The 90-year-old has interests in an airline, banking, food, hotels, power, chemicals, real estate, and telecommunications.
Lucio Tan moved from last year’s fifth spot to the third spot with $3.7 billion net worth, down from $4.9 billion a year ago. The LT Group has interests in tobacco, spirits, banking, and property development.
The youngest Filipino billionaire on the list is the man behind fastfood chain Mang Inasal, Edgar Sia. The 40-year-old businessman’s net worth this year is at $1 billion. He also owns a stake in DoubleDragon Properties.
Questions & Answers
Q.Did Henry Sy's net worth increase or decrease in 2017 compared to the previous year?
Did Henry Sy's net worth increase or decrease in 2017 compared to the previous year?
Henry Sy's net worth decreased in 2017. It was $12.7 billion, which is lower than his 2016 net worth of $13.7 billion. This represents a $1 billion reduction.
Q.What business areas did Henry Sy expand into after founding Shoe Mart?
What business areas did Henry Sy expand into after founding Shoe Mart?
After establishing Shoe Mart in 1958, Henry Sy expanded his business interests significantly. His empire now includes major holdings in retail, banking, and property sectors across the Philippines.
Q.How old is Henry Sy and which global figure topped Forbes' billionaires list?
How old is Henry Sy and which global figure topped Forbes' billionaires list?
Henry Sy is 92 years old. The global billionaires' list released by Forbes magazine was topped by philanthropist Bill Gates, who has a net worth of $86.8 billion.
Q.Who is the youngest Filipino billionaire mentioned on the list and what are his business interests?
Who is the youngest Filipino billionaire mentioned on the list and what are his business interests?
The youngest Filipino billionaire on the list is Edgar Sia, who is 40 years old. He is known as the man behind the fast-food chain Mang Inasal and also holds a stake in DoubleDragon Properties.
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