SM City Owner Dies

Philippines - Henry Sy Sr. - the SM City malls owner and founder died last Saturday January 19,2019 at the age of 94 on his sleep or "....died 'peacefully in his sleep'..." (PDI)



" "Henry Sy.... passed away peacefully in his sleep early Saturday morning......" his SM group said in a statement to AFP " (Yahoo)

"“It is with deep sadness that we inform you of the peaceful passing of our beloved Chairman Emeritus, founder and Tatang, Mr. Henry Sy, Sr. this morning,” SM Investments Corp. (SMIC) said in a statement." (Business World)

He is a Chinese immigrant that become successful businessman in the Philippines.

"By the time he died on Saturday,Sy had changed the country's landscape with his property developments,built SM Supermalls into a household brand,turned malling into a national recreation and redefined the limits of banking.Widely considered as "the father of Philippine retail",he ranked as the country's richest man for 11 successive years,according to Forbes magazine,which estimates his net worth at $19 billion (about P1.05 trillion).According to Forbes,he was 52nd richest person in the world last year,beating out bold-name tycoons like Elon Musk,Rupert Murdoch and George Soros..... Starting with his flagship Shoemart store,Sy founded the SM group,which has evolved into a conglomerate spanning retail,banking,hotels,and property developments.His holding also included huge shopping centers in China." (PDI)

Henry Sy Sr. (image from Business World website)

One of the SM city branches which Sy founded and popular mall in the Philippines

(image from Wikipedia website)