Business tycoon and Philippines’ richest man Henry Sy Sr. passed away on Saturday, January 19.
In a statement, the SM Supermalls management confirmed that the 94-year-old businessman has “peacefully died in his sleep”.
“With deep sadness, I would like to inform the group that our beloved Chairman Tatang, Mr. Henry Sy Sr, passed away peacefully in his sleep early Saturday morning. Please pray for the eternal repose of his soul,” Steven Tan, SM Supermalls COO, said.
The management added that details on the businessman’s wake and interment are still being finalized.
Sy started in the business industry as the owner of the Shoemart footwear shop in Manila. The business grew and has become one of the biggest commercial hubs in the country.
In 2018, Forbes Asia Magazine also hailed Sy as the richest person in the Philippines for the 11th year in a row with an estimated net worth of $18.3 billion.
