Never getting old: Henry Sy Jr. is Big Boy for life

Notes on the beat

MANILA, Philippines — While other business titans have cool nicknames using their initials like MVP (Manuel V. Pangilinan), RSA (Ramon S. Ang) and JAZA (Jaime Augusto Zobel de Ayala), tycoon Henry T. Sy Jr. was stuck with “Big Boy.”

“Maybe you can call me BB, the initials for Big Boy instead, kasi hindi na ako boy, I’m an old man na,” Sy Jr. told The STAR in jest.

Sy Jr. said the nickname came from his father, the late taipan Henry Sy Sr., who saw it at a restaurant in Escolta, Manila.

But Sy Jr., who ranked  No. 1,676 in the Forbes 2026 World’s Billionaires list with a net worth of $2.5 billion, said he didn’t really mind being called Big Boy, which aside from being a family nickname, has become his moniker in business circles.

Tycoon Hans Sy said he can no longer think of a better nickname for his older brother.

“None. It’s really Big Boy, even if people were saying how come I’m bigger than him,” Hans quipped.

Nicknames, however, are the least of Sy Jr.’s concerns, especially given the headwinds brought about by the ongoing Middle East crisis, which could potentially impact businesses of the Sy family empire.

Sy Jr., chairman of integrated property developer SM Prime Holdings, expects 2026 to be an even tougher year as governance issues and geopolitical risks continue to affect investor and consumer confidence.

The tycoon also sees climate-related risks adding further pressures to business conditions.

But Big Boy, the eldest son of “Tatang,” is not someone who easily backs down from a challenge.

In fact, his daughter, Jessica Bianca “Jica” Sy, described him as someone who is “very optimistic.”

“He is also very fair with people. In terms of business, he believes everyone has an opinion that’s very valid and can really help create something better,” Jica, vice president and head of design, innovation and strategy at SM Prime and SMDC, said.

Proving her daughter right, Sy Jr. confidently said that “as long as there is difficulty, there is opportunity.”

“Prices of land will go down so there is a good opportunity to purchase now,” he noted.

Sy Jr. said SM Prime is always on the lookout for good properties to acquire, with robust cashflow supported by the company’s strong recurring income.

“We cannot predict what the year ahead will bring. What gives us confidence is not our scale or leadership position, but a clear understanding of who we are and how we work,” he said.

As chairman of Synergy Grid and Development Philippines Inc., the listed company behind the National Grid Corp. of the Philippines, meanwhile, Sy Jr. is also hopeful that a major deal between the company and Maharlika Investment Corp. will be completed soon.

He said that NGCP and Maharlika are still negotiating on the latter’s planned P19.7-billion entry into the country’s grid operator. He cited the numerous details of the deal as the reason why it is taking so long to be completed.

On his cement venture, Big Boss, Sy Jr. described the business as “very flat” given current conditions.

“There is not much government spending, so we just have to wait,” he said.

Taking inspiration from his father, Big Boy shared that the late taipan approached periods of crisis with clear judgment and a willingness to act against prevailing sentiment.

“Where others saw risk and imminent failure, he saw an opportunity to build something bold, permanently altering our growth trajectory,” he said.

Sy Jr. said he and his siblings were also taught by their father that humility drives performance, thus encouraging collaboration, creativity and innovation because ego is kept out of decision-making.

“In admitting that we do not have all the answers, we create the conditions for better judgement and faster execution,” he said.