Chinese Filipino businessman, Henry Sy, is the richest person in Philippines as of March 2012 with net worth of $8 billion, according to Forbes rich list. The richest man in Philippines came from China as a child to work in father’s convenience store. He is founder of SM Group and chairman of SM Prime Holdings, the largest retailer and shopping mall operator in the Philippines.
He started with small shoe store in Manila, which he built into one of the country’s largest retail groups. SM Prime, the Philippines’ largest shopping mall developer, run by son Hans, plans to list its China operations.Shares in SM Investments, family’s largest asset, up nearly 40%.Also Banco de Oro Unibank,Philippines largest bank, run by his daughter Teresita Sy-Coson. Listed property developer Belle Corp., expected to open its first casino in Manila in 2012. Henry Sy was born on December 25, 1924 in Xiamen, China.