The Philippines’ wealthiest man Henry Sy dies

The Philippines’ wealthiest man Henry Sy, who rose from being a penniless Chinese immigrant to leading a multi-billion dollar business empire, has died.

The 94-year-old, from the Chinese city of Xiamen, made his fortune with a Philippine shopping centre conglomerate that has put up some of the largest malls in the world.

However his holdings also included banks, hotels and real estate in the Philippines, as well as shopping centres in China.

According to Forbes, he had a net worth of $19 billion as of yesterday.

Forbes said he was the 52nd richest person in the world last year, beating out bold name tycoons like Elon Musk, Rupert Murdoch and George Soros.

Courtesy : news radio