When Sy family patriarch Henry Sy Sr. passed away in 2019, he left behind the country’s biggest conglomerate for his six children to run--as well as a hefty inheritance worth more than $19 billion (P914 billion).
The six children of the late taipan now head SM Group as a unit, carrying on the legacy their father left behind.
The SM Group is now one of Southeast Asia’s biggest conglomerates with diversified interests in malls, real estate, supermarkets, and banks. The Sy-led BDO Unibank also happens to be the Philippines’ biggest bank.
The six Sy siblings, by order of age, are:
- Teresita Sy-Coson, chair of BDO Unibank and co-vice chair of SM Investments.
- Elizabeth Sy, head of SM Hotels and Conventions.
- Henry Sy, Jr., chairman of SM Prime and co-vice chairman of SM Investments.
- Hans Sy, chair of SM Prime’s executive committee and China Banking Corp.
- Herbert Sy, director of SM Prime.
- Harley Sy, exective director of SM Investments, director of China Banking, and adviser to BDO Unibank.
The richest family in the Philippines, the Sys are also the 10th richest in all of Asia, according to Bloomberg and Statista.
The Ambanis topped the list with a whopping collective net worth of $76 billion sourced from the family business Reliance Industries, a Fortune 500 company and India’s most valuable business. After the Ambanis come the Kwoks from Hong Kong who head Sun Hung Kai Properties, the Chearavanonts of Charoen Pokphand Group, the Hartonos of Djarum Bank Central Asia, the Lees of Samsung, the Yoovidhyas of TCP Group (Red Bull), the Chengs of Chow Tai Fook, the Mistrys of Shapoorji Pallonji Group, and the Pao/Woos of BW Group and Wheelock.
The Sys wrap up the top 10 with SM Investments.
