1 month ago
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A prominent Filipino business family has broken into the top tier of Asian wealth, securing a place among the 20 richest clans in the region, according to Bloomberg.
The Sy family, the force behind the SM Group, is the sole Philippine representative on Bloomberg's 2025 list of Asia's 20 richest families, ranking 19th with a combined wealth of $15.1 billion.
The Sy family’s journey began in 1958 with the vision of the late Henry Sy Sr., who opened a humble shoe store in Manila. From this modest beginning, he built a retail empire that has become synonymous with shopping and modern living in the Philippines.
The SM Group now operates in diverse sectors, including retail, banking, property development, hospitality, and logistics. This diversification has contributed to their continued growth.
Henry Sy Sr.'s six children—Henry Jr., Teresita, Hans, Harley, Elizabeth, and Herbert—lead the conglomerate's various businesses. This second generation has expanded and modernized SM Group's operations.
A third generation of Sys is now involved and taking on leadership roles.
