Henry Sy, the founder of the Philippines mall giant SM has maintained his place at the top of the nation’s rich list for the eighth consecutive year.
Sy’s various business interests include property, retail and banking and his net worth is estimated byForbes Philippines as US$14.4 billion – up $1.7 billion on the 2014 figure.
Forbes calculated Sy’s SM Investments rose 17 per cent in value during the last year and SM Prime Holdings by 20 per cent.
Besides his retail interests, the 90 year old Sy who was born in Xiamen, China, has shares in power supplier National Grid Corp.
Second on the list is another retailer: John Gokongwei Jr, one of the family which owns the parent company of Robinsons malls in the Philippines, amongst other assets including energy, airlines, telecommunications and food. His net worth is estimated at $5.5 billion.