Achievements Why Henry Sy is Extraordinary Success is not based on your history—it is based on your perception. No matter where or which family you came from, it should not stop you from achieving your goals in life. Aside from the mall industry, Henry also owns numerous companies in the areas of real estate, banking, education, mining, retailing, and hospitality, resulting in him being recognized as the wealthiest person in the Philippines, with an estimated personal wealth of 13 billion dollars.
This is another inspiring The henry sy story as we witness his rags to riches story on how he built all SM Malls and became one of the biggest bankers enabling him to become the richest man in our country surpassing both Lucio Tan and the Ayalas.
Believe it or not, Henry Sy’s story was a ‘rags to riches’ kind of tale. Born in Xiamen, China in November , Henry Sy was not born with a silver spoon in his mouth. Wanting to escape poverty, Henry followed his father to the Philippines only to experience a miserable youth in a foreign country. Henry Sy was born into a poor family in Xiamen, China in From these humble beginnings, Sy went on to become the richest man the Philippines, according to a Forbes magazine article. Sy is the chairman of SM Prime Holdings, Inc., and he served as Advisor to the Board of China Banking. Barack Obama did not tell the whole story this autumn when he tried to make the case that Bashar al-Assad was responsible for the chemical weapons attack near Damascus on 21 August.
It is a rags to riches story that even myself did not realize until I went to trace his roots in China. His journey from the thatched hut I saw there to the shopping centers he has today is something that amazes even myself.
His determination, his discipline and his thriftiness have produced an astute and street smart businessman who has influenced a lot of people. Including us, his children. True, he was disappointed with the economy many times, but he never saw the reason to quit and instead pursued his goals relentlessly.
He had many obstacles — both external and internal — in his business, and there were times he could not understand why things had to be so complicated for him to pursue his business objectives.
It has been written — and I can attest that it is true — that Henry Sy started from the bottom. It was located on Echague St. There, he devised ways The henry sy story increase his income by developing small portions of products — much like the sachets we see today in the supermarkets.
He was able to make multiple sales in order to make extra income, spending so much time in the store that he had no time to go out and play with friends in the neighborhood.
It did not take a long time for him to realize, however, that he can only do so much in a sari-sari store environment. WWII came and the sari-sari store was looted and burned. He did a lot of buying and selling of odd things during the war to enable the family to survive.
This must have provided him the hands-on training for his stamina in business. At one time, he was hit by shrapnel while selling, and quite fortunately was brought to the hospital by his good friend in a kariton. Without that friend, he could have bled to death. He treasured that friendship and later expressed his gratitude after the war by making that friend his partner in a shoe store.
The partnership lasted for more than 40 years until the shoe store had to give away to the building renovations of the lessor.
After the war ended inhe ventured into selling American shoes imported by enterprising Gis. He later saw the opportunities of opening a shoe store, and not long after he was managing three shoe store in partnership with friends.
With the pleasure of a growing family while at the same time pursuing studies at FEU in the early 50s, he sought more ways to augment his income. He studied the market and decided to be different.
While other young men went to the US to pursue a higher education, he went on a long business trip to the East Coast, and came home with a lot of merchandising ideas. For a time, he was selling a lot of shoes, accessories, and leather goods, hoping to change the way shoe manufacturers look at the industry.
With the success of that store, he went on to open more shoe stores, but he could not get enough suppliers. Many shoe manufacturers at that time could not understand why they had to listen to this shoe retailer who had very definite ideas on what he wanted to sell.
They did not cooperate by providing him with the volume he needed, and because of that limitation, he gradually shifted to apparel — and thereafter other merchandise — with the help of my mother.
He was continuously learning from his customers, suppliers, and employees. This on-the-job research gave him enough confidence to expand to a department store chain. Many things in life grow out of needs, and to meet the needs, you become determined.
With determination you will take extra challenges and do things differently — which will most likely bring success. We opened our first department store intwo months after Martial Law was declared. The business had a slow start, but progressed steadily.
During the Martial Law years, he continued to open more department stores, reaching a point wherein he could not get space he needed in the existing shopping centers during that time.
He then decided think long term, and invest in properties for malls, which were patterned after suburban shopping centers, which he had been studying for some time. When we started the construction of our first mall inthe Philippines was in the midst of a debt moratorium and experienced hyper inflation.
The economy decline was further aggravated by the assassination of Ninoy Aquino. Many bankers predicted our demise because my dad came from nowhere — he may had a few department stores and shoe stores at that time, but he was not one of the financial heavy-weights at that time.Henry T.
Sy was born on October 15, , to a poor family in Jinjiang, Quanzhou, China. His parents were Henry H. Sy and Tan O. Sia. He was twelve when he first arrived in the Philippines, working at his father’s small sari-sari store for more than twelve hours a day, every day.
Barack Obama did not tell the whole story this autumn when he tried to make the case that Bashar al-Assad was responsible for the chemical weapons attack near Damascus on 21 August.
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Today, I’m now going to feature the life story of the richest man in the Philippines. He is no other than Henry Sy, the retail magnate who owns all established 33 SM Malls and also a banking magnate who owns Banco De Oro-EPCI Bank and majority share in China Bank.
This is another inspiring story.