December 27, 2015

Success Story: Henry Sy Sr., Philippines’ Richest Man

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    We all know Henry Sy as one of the richest tycoons in the Philippines. However, not all people know what happened before all these achievements came into his life. Read up and see what made him become one of the country’s successful entrepreneurs.

    HENRY SY. Philippines’ richest businessman

    Believe it or not, Henry Sy’s story was a ‘rags to riches’ kind of tale. Born in Xiamen, China in November 1924, 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. Sy struggled hard living in a foreign country as an immigrant and had to learn the local language. Determined to become successful, he worked hard day and night to provide for his needs.

    Sy started out with a small sari-sari store business that helped them in their day-to-day life. Sy and his father lived in a small space until the fruits of their labor made them successful in the following years. However, when the Philippine economy collapsed in World War II, their store burned down that forced his father to go back to China. Henry Sy stayed in the Philippines and built his own shoe business in Marikina.

    Also read: 8 Most Influential Tycoons in the Philippines

    Sy did not have an overnight success. He enrolled himself to school and was able to graduate college with a degree in commerce from Far Eastern University. Sy also changed legal names, sold rejected and overrun shoes, plus many other setbacks that he had to face early in life. He did not give up and pushed through maybe because he knew that something big, which is what he has now, is about to come.

    After a series of failures in his business, Henry Sy stood back up and persevered to attain his goal. He established a small shoe store in Quiapo, Manila in 1958 named “Shoe Mart” that eventually marked the establishment of SM Prime Holdings. Now with three of the most valuable companies in the Philippines: SM Investments Corp. and SM Prime Holdings Inc., valued at over Php 1 trillion each, and BDO Unibank, valued at around Php 635 million, he has become the richest man in the country for 11 consecutive years since 2005 and ranked 52nd in Forbes World Billionaires List of 2018.

    Also read: Henry Sy ranks 52nd on The World’s Billionaires 2018

    With his inspiring story, one can learn about the ideals of success. Henry Sy tells us not to give up on our dreams, no matter how far-fetched it seems.

    Who knows, maybe yours is the next success story to tell! 


    Sources: Inquirer, Market Screener
    Image grabbed from SM Prime Holdings Inc. and Wikimedia Commons

                 
               
               
    Recent Comments

    Who wrote this? I badly need it

    Anonymous
    3 weeks ago

    Henry Sy story is so inspiring, while reading it I also thinking to be like him. I also want ro be a successful entrepreneur someday. Thank you for your inspiring story sir henry it motivates me more.

    ★★★★
    2 months ago

    Success means to not be afraid of taking risk!

    Anonymous
    3 months ago

    He has done something that other entrepreneur was not able to conceptualize. Employing people in retails like SM Malls is a very difficult to manage specially once there is a labor union. I have never seen a company in the Philippines that succeed with so many employees like SM where salary mean low.

    Anonymous
    3 months ago

    Inspiring indeed from rags to riches,amazing one.
    Strive hard,work hard and let God be the center of it all.Godbless us all..

    ★★★
    3 months ago

    A very inspiring story of the most richest man of world Mr Henry SY.rest in peace.
    Hope same like you never afraid or never give up of what i wanny try in bussines.im afraid to do something more on bussines. Because im thinkinh how about my capital.i spend it.and someday i lost it.because i spend so much capital for my bussines but not wort it.thats why im afraid.
    Hope someday same with you have dedication to work.god bless you po.

    Anonymous
    3 months ago

    I never dream to be one of those richest man in the world, but I dream to help many people who are struggling in life just to survive and sustain their needs, that make me feel that I’m the richest man in the world.

    ★★★★
    3 months ago

    My dream will be to beat the richest man in asia or even the world build the biggest company and have the biggest malls in the world to beat him i need to be diffirent do something that anybody won’t do

    Anonymous
    3 months ago

    my dream is to have a biggest trucking company in the philippines
    and i wont give up anymore.

    Anonymous
    3 months ago

    So Inspiring

    ★★★★★
    7 months ago

    Sir Henry. You are a blessing.

    Anonymous
    8 months ago

    TO BE PART OF THE 1%
    YOU NEED TO DO
    WHAT THE 99% WONT

    ★★★★★
    9 months ago

    Great but you need to have more accurate information like the birthdate and other stuffs.

    ★★★
    9 months ago

    its so very n iceeeeeeeeeeeee

    ★★★★★
    9 months ago

    so inspiring,and so very nice

    ★★★★★
    9 months ago

    who is the author of this pls answer now i need it

    ★★★★★
    10 months ago

    Thank you for that information it help to my assignment 👍👍👍👍👍👍👍👍👍👍👍

    ★★★★★
    10 months ago

    Thx!!!it helps in my Son’s Assignmet

    Anonymous
    10 months ago

    4 stars because good in my assignment

    ★★★★
    10 months ago

    idol kita

    Anonymous
    10 months ago

    i was inspired by the story of Mr. Henry Sy i hope and pray also with a hard work and dedication i will become successful someday

    ★★★★★
    11 months ago

    okie

    Anonymous
    12 months ago

    That’s a wonderfull stories.,i hope someday i will be like him

    Anonymous
    one year ago

    So inspiringg..

    ★★★★★
    one year ago

    Mr. Sy and i. Is same story, but I always pursue but never been achieve. Dreaming always but never been success. It is not bad to dream to get goal but most of all. It is not once twice trice but several-SO GODBLESS ME AND HELP ME FOR ALL. GODBLESS YOU MR. SY KONGHEWATCHAI KONGHE FATCHOI.

    Anonymous
    one year ago

    Wow Its a Miraclre<3

    ★★★★
    one year ago

    More details please

    Anonymous
    2 years ago

    so inspiring

    Anonymous
    2 years ago

    Wow

    ★★★
    2 years ago

    Give more details of the falls he encountered and the strategies he use to overcome and surpass them.

    Anonymous
    2 years ago

    cool.

    ★★★
    2 years ago

    seems too summarized

    2 years ago

    Needs more details!!!!

    2 years ago

    Yep, Lack of details. Anyways, its somewhat just like an overview of Henry’s story.

    ★★
    2 years ago

    Thanks but I need more details

    Anonymous
    2 years ago

    wow! thnx for everything. it helps me in my assignments.

    ★★★★★
    2 years ago

    Lacking more other details like how henry started shoe business. Who supported him? What happened to his father?

    2 years ago

    Like

    ★★★★★
    3 years ago

    4 stars

    ★★★★
    3 years ago
    What do you think about this article?
    ★★ ★★★ ★★★★ ★★★★★

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