Sy had topped the Philippine Rich List for eleven years in a row. His net worth was estimated at $19 billion at the time of his passing, making him the 53rd wealthiest person in the world. The 94-year-old former immigrant from China had built a vast business empire that spans retail, real estate and banking. Sy’s family-owned SM Investments is the holding company for SM Retail, the country’s largest chain of department stores and supermarkets, SM Prime, the country’s largest shopping mall operator, as well as BDO Unibank.
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