SM Founder Henry Sy Sr. Passes Away at 94

Henry Sy Sr., who established SM Malls and who was considered by Forbes to be the wealthiest man in the Philippines, passed away at 94 years old early this morning.

According to a statement by Steven Tan, COO of SM Supermalls, Mr. Henry Sy Sr. passed away peacefully in his sleep.

Henry Sy Sr

Henry Sy Sr.’s estimated net worth is $19 billion. Jose Sio will be taking over his role as chairman of SM Investments with his daughter Teresita Sy-Coson as co-vice chairwoman and his son Henry Sy, Jr.

as co-vice chairman.