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Richmond Mercurio - The Philippine Star
February 15, 2025 | 12:00am
MANILA, Philippines — The Sy family, the power behind the conglomerate SM Investments Corp., has been named as among the 20 wealthiest families in Asia for 2025.
Bloomberg ranked the family of the late taipan Henry Sy Sr. as the 19th richest family in the region, with a wealth of $15.1 billion.
Starting from a small shop in downtown Manila, the SM Group has grown into a diversified conglomerate with investments in market-leading businesses in retail, banking and property.
The group also invests in ventures that capture high growth opportunities in the emerging Philippine economy.
Henry’s six children are Teresita Sy-Coson, Elizabeth Sy, Henry Sy Jr., Hans Sy, Herbert Sy and Harley Sy.
Third generation Sys who are currently holding key positions in the group include Jessica Bianca “Jica” Sy, head of design, innovation and strategy at SM Prime Holdings and SM Development Corp., and Hans “Chico” Sy Jr., president of SM Engineering Design and Development Corp.
Bloomberg said the Sy family’s philanthropic arm, SM Foundation, has helped over 4,000 college graduates through its scholarship program since its inception in 1993.
Topping Bloomberg’s list of Asia’s 20 Richest Families for 2025 is the Ambani family of India, with a wealth of $90.5 billion.
According to Bloomberg, Ambani is leading the charge on artificial intelligence, robotics and deep tech in India by investing in data centers, enterprise software and AI-enabled apps.
Coming in at second spot is Thailand’s Chearavanont family with a wealth of $42.6 billion, followed by Indonesia’s Hartono clan with assets amounting to $42.2 billion.
Rounding up the top five are the Mistry family of India with a wealth of $37.5 billion and the Kwok family of Hong Kong with $35.6 billion.
