Henry Sy, who became a billionaire by parlaying a shoe store into the biggest retailer in the Philippines, has died. He was 94.
He died in his sleep this morning, his daughter Teresita Sy-Coson and Jose Sio, chairman of SM Investments Corp. said. Sy had a net worth of $7.2 billion, according to the Bloomberg Billionaires Index, making him the richest person in the Philippines.