Henry Sy is the Richest Man in the Philippines

Henry Sy is still the richest man in the philippines according to the 2010 list of Forbes’ Magazine. He currently own shares in all established SM Malls throughout the country as well as banks like Banco De Oro and China Bank.

He is one of those people who came from rags then achieved the riches. He came from China and went here in the Philippines at the age of 12. He worked for his father in their small sari-sari store business in Quiapo, Manila. Unfortunately, the store was burned during World War II but his persistency and business mind helped alot. He did alot of buying and selling just to help the family survive.

After the war, he started the shoe business with his most treasured friend for 40 years. His business continued to flourish through partnership with his friends and by selling imported shoe products.

He continued his studies at the Far Eastern University in Morayta. Then he went to the East Coast to find new merchandising ideas and one of it was a fully-airconditioned shoe store known as “Shoe Mart” or SM. Due to the changing needs of the people, he shifted to different types of businesses like Merchandising, and Department Store.

But he had faced uncertainties and difficult time, Shoemart Makati faced so many rallies and ugly strikes. He almost gave up but encouragement from people that sorround him gave him hope and fired up again his persistency.

In the years that followed, he built more shopping stores and enjoyed some fortune in the financial industry.

And now because of that, he has become the Richest Man in the Philippines for 2010.

For the original article, visit MillionaireActs.com.