Shi Zhicheng, the richest man in the Philippines, died
On the 19th local time, SM Group announced in a statement that Shi Zhicheng, the richest man in the Philippines, whose ancestral home was Jinjiang, had passed away at the age of 94.
Starting from a small shoe store, Shi Zhicheng has developed SM Group into one of the world's largest large-scale shopping mall development and operation companies. At the same time, it has also been involved in banking, real estate, manufacturing and other fields.
Let us understand his life together.
Shi Zhicheng, who spent his childhood in Jinjiang, Fujian, came to the Philippines at the age of 7. He was penniless and did not know English or Filipino.
The family put their savings into a small grocery store that also sells vegetables, dry goods and daily necessities, located on the corner of the street. He helped his parents look after. Unfortunately, this family’s only property was devastated during World War II.
After World War II, Shi Zhicheng, who was an apprentice in a shoe store, found that many people on the street had no shoes to wear. He saw a business opportunity and began to sell the surplus cheap shoes of American soldiers, earning the first pot of gold in his life.
Shi Zhicheng opened a shoe store and expanded to 3 stores in a short time. In 1958, he founded Shoe Mart (SM), a large shoe market mall, which sold hundreds of millions of pairs of shoes and became a well-known "shoe industry king". .
In 1985, Shi Zhicheng invested heavily and opened the first SM mall in Quezon, a northern suburb of Manila, which no one was optimistic about, and it was a big success.
SM shopping mall even changed the way of life of Filipinos to some extent. In the past, Filipinos would go to church every weekend and then go to the park or the beach; with SM shopping mall, they can go to the centrally air-conditioned shopping mall to escape the heat and enjoy all-round shopping at the same time.
The success of SM Mall is inseparable from Shi Zhicheng's dedication. Whenever he goes to a place, he must go to a large shopping mall. He will pay attention to whether the seafood is fresh, which can reflect the business situation and the size of the passenger flow. Will go to see the cleanliness of the bathroom, which can reflect whether the management is in place.
So far, Shi Zhicheng has opened more than 60 shopping malls, controlled more than 60% of the retail market in the Philippines, and became the leader of the retail industry.
Shi Zhicheng also built SM Group into a cross-industry business empire covering finance and real estate. It owns BDO, one of the largest banks in the Philippines, and SMDC, one of the largest real estate development companies in the Philippines.
On September 7, 2018, Shi Zhicheng became the richest man in the Philippines for 11 consecutive years with a fortune of $18.3 billion.
Shi Zhicheng's achievements and contributions have also been unanimously affirmed. Not only did he receive the Lifetime Achievement Award from the Philippine Government, he was also included in the Fuxi Rizal Chinese Entrepreneurs Hall of Fame.
Although Shi Zhicheng has been the richest man in the Philippines for many consecutive years, his life is very simple. Once Shi Zhicheng finished his meal in the restaurant, he saw that there were only two balls left on the table, so he asked the waiter to pack them and take them home.
In 1992, Shi Zhicheng invested a lot of money to build a shopping plaza in Fupu, Luoshan, Jinjiang, when the surrounding area was deserted. Some people questioned, but he insisted that this is a win-win situation for the local government and the group.
In 2005, Jinjiang SM Plaza, which carries Shi Zhicheng's hometown complex, opened. Before the official opening, from 1999 to 2008, Jinjiang SM Plaza hosted the tenth China International Footwear Expo.
Nowadays, Quanzhou Jinjiang SM Plaza has become one of Jinjiang's most lively and popular business districts, driving the surrounding commercial atmosphere, promoting the formation of urban commerce clusters, and changing the lives of many Jinjiang people.
Not only that, Shi Zhicheng donated thermal power and hydropower equipment in his hometown, repaired cement roads, pavilions, and Chaoxi Bridge, and donated money for the construction of Jinjiang Airport. He also pays more attention to and supports the development of education in his hometown.
After leaving his hometown for decades, Shi Zhicheng still didn't change his native accent. When he returned to his hometown, he spoke fluent Hokkien dialect to communicate with everyone. He also included learning hometown dialect in his family motto. All his descendants can speak fluent Hokkien.
Mourn
Chen Jinshang, Vice Minister of the United Front Work Department of Jinjiang Municipal Party Committee and Director of the Overseas Chinese Affairs Office of the Municipal Government:
Although Shi Zhicheng Xiangxian lives outside, he cares about Sangzi and is enthusiastic about public welfare. As early as more than 20 years ago, he enthusiastically donated money to support the education and infrastructure construction of his hometown. He also returned to his hometown of Jinjiang to build his first shopping mall in mainland China, which helped promote the urbanization process of his hometown, and everyone has a reputation.
It is reported that Shi Zhicheng has donated more than 10 million yuan in his hometown of Jinjiang over the years. Bridge construction, road paving and school construction in Hongxi Village, Longhu Town, and Jinjiang Airport in Quanzhou have all donated funds. His outstanding contribution was awarded by the Fujian Provincial People's Government with a monumental commendation and awarded the "Fujian Province Donation and Public Welfare Outstanding Contribution Award".
Shi Wendan, President of World Jinjiang Association:
It is shocked to hear that the leader of the Chinese businessmen in the Philippines, the founder and chairman of the famous SM Group, Mr. Shi Zhicheng, has passed away. All my colleagues in General Shijin express their deep sadness!
Mr. Shi has worked hard throughout his life, long-sleeved dance, and the business kingdom involves dozens of industries. The most memorable thing is Mr. Shi’s enthusiasm for charity and public welfare education. His patriotic and loving heart is widely respected and respected by all walks of life at home and abroad, as well as the overseas Chinese in the Philippines. Praise, be famous all over the world, and stay in history forever! The light of the Shi family, the light of Jinjiang, the light of overseas Chinese!
May Mr. Shi go well all the way, and extend my deep condolences to the family of Mr. Shi Zhicheng, and take care of the festival.
Shi's famous quote
Success does not depend on good luck. It is a compound of hard work, good credit, opportunity, always preparedness, and right timing.
Do things have to stop three times, do not ask for fast, ask for stability.
The gifts God gives us are fair. He gave us so many opportunities, and he gave us as much time every day. We should make good use of it.
Not many people can do it. You may be interested, but there are no resources. Maybe you have all the interests and resources, but you don't have the guts. You must have the courage to do it. You have to have a long-term vision. Moreover, you must maintain an optimistic attitude.
Looking back on Mr. Shi Zhicheng's life, we can see that he has always inherited the spirit of Chinese hard work, from being born poor to tens of billions of wealth, he used his life's hard work to prove to the world that "work hard will win"!