There are six Sy siblings, namely Teresita, Elizabeth, Henry Jr., Hans, Herbert and Harley. They are the children of Henry Sy Sr. Henry Sr started Shoemart in 1958, opening his first store in Manilla where he sold overrun shoes. From that humble beginning SM grew to become not just one of Philippines’, but one of Southeast Asia’s largest conglomerates. It still has concerns in retail, with department stores and supermarkets but also in banking, real estate, hotels and mining. Henry Sy was the richest person in the Philippines for more than a decade.

The six Sy siblings inherited their father’s fortune and though the business is run by non-family members, all six sit on the board.