Philippines mall magnate tops rich list
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Henry Sy, the founder of the Philippines mall giant SM has maintained his place at the top of the nation’s rich list for the eighth consecutive year.
Sy’s various business interests include property, retail and banking and his net worth is estimated byForbes Philippines as US$14.4 billion – up $1.7 billion on the 2014 figure.
Forbes calculated Sy’s SM Investments rose 17 per cent in value during the last year and SM Prime Holdings by 20 per cent.
Besides his retail interests, the 90 year old Sy who was born in Xiamen, China, has shares in power supplier National Grid Corp.
Second on the list is another retailer: John Gokongwei Jr, one of the family which owns the parent company of Robinsons malls in the Philippines, amongst other assets including energy, airlines, telecommunications and food. His net worth is estimated at $5.5 billion.
Questions & Answers
Q.What is the primary reason for Henry Sy's increased net worth this year?
What is the primary reason for Henry Sy's increased net worth this year?
Henry Sy's net worth increased due to significant growth in his SM Investments, which rose by 17 per cent, and his SM Prime Holdings, which saw a 20 per cent increase in value over the last year.
Q.Besides retail, what other business sectors does Henry Sy have interests in?
Besides retail, what other business sectors does Henry Sy have interests in?
Beyond his extensive retail operations, Henry Sy's diverse business interests also include property, banking, and a stake in the power supplier National Grid Corp.
Q.Who is the second wealthiest person on the Philippines rich list, and what are their primary business interests?
Who is the second wealthiest person on the Philippines rich list, and what are their primary business interests?
John Gokongwei Jr. Is second on the list, with business interests spanning retail through Robinsons malls, as well as energy, airlines, telecommunications, and food.
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