Net Worth: $7.2 billion – As of JUne 2011
Chinese Filipino businessman, Henry Sy, is the richerst person in the Phillippines as of March 2011 with net worth $7.2 Billion, according to Forbes rich list. The richest man in the Philippines came from China as a child to work in father’s convenience store. He is founder of SM Group and chairman of SM Prime Holdings, the largest retailer and shopping mall operator in the Philippines
“He is also the most celebrated KILLER OF TREES and KING OF MASSIVE DEMOLITIONS in Urban Poor areas.”
A Philippine court has halted extension work on a mall amid a public outcry over plans to cut down nearly 200 trees in a popular urban forest.
The court in northern Baguio on Tuesday issued a temporary environmental protection order stopping SM malls, one of the country’s biggest chains, from uprooting the trees in downtown Baguio, known as the city of pines and the Philippines’ summer capital.
SM Prime Holdings Inc. had previously secured permission to expand the existing mall and promised to replant the towering Alnus trees in another location to make room for a new multilevel development.
Environmentalists objected and took to the site at midnight when workers began clearing the land. They have also started online petitions against the tree cutting.