The richest Filipino: Henry Sy and family
Net worth: US$11.4-billion
Forbes rank: 97Henry Sy is also referred to as the Sam Walton of the Philippines. It is largely due to his fortune which is based on ShoeMart. Henry launched ShoeMart in 1958 but he really got started after World War II by collecting and selling shoes that were left behind by American soldiers. By 1972, Henry opened his first department store in 1972. At present, he owns the largest retail and shopping mall business in the Philippines. In November his property unit SM Land snatched a $1.2 billion contract to reclaim land in Manila, next to his Mall of Asia complex.
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