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Tycoons' deaths signal history's 'greatest wealth transfer,' says analyst

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<figure class="op-interactive"><div id="IVS_ABS_Body_Video_1_Container"> <ivs-player id="IVS_ABS_Body_Video_1" data-ivs-spid="3001339" data-ivs-key="e8c22c015ca9eafa76f1e3edfa03c603" data-ivs-vid="1393616" data-ivs-floating="1"></ivs-player> <script src="https://player.ivideosmart.com/ivsplayer/v4/dist/js/iframe-parent.js"></script> <script src="https://player.ivideosmart.com/ivsplayer/v4/dist/js/loader.js"></script> </div></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div><p>MANILA -- The death of tycoons who built their empires from scratch such as Henry Sy and George Ty signal a changing of the guard while highlighting the need for succession planning, an analyst said Wednesday.</p><p>Transitions are &quot;very sensitive and very volatile sometimes&quot; and success lies in preparation, said executive coach Eric Soriano.</p><p>&quot;We are witnessing the greatest wealth transfer in the history of mankind, from the baby boomers, from nothing, it&#x27;s time to turn the new leaf, changing of the guard from the founder to the siblings,&quot; Soriano told ANC&#x27;s Early Edition.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/01/19/19/retail-tycoon-henry-sy-sr-passes-away">Retail tycoon Henry Sy Sr passes away</a></li></ul><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/23/18/tycoon-george-ty-of-metrobank-toyota-ph-passes-away">Tycoon George Ty of Metrobank, Toyota PH passes away</a></li></ul><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/30/18/aboitiz-equity-ventures-chairman-jon-aboitiz-passes-away">Aboitiz Equity Ventures chairman Jon Aboitiz passes away</a></li></ul><p>The &quot;next cycle&quot; of big businessmen is being led overseas by Facebook founder Mark Zuckerberg and locally, by DoubleDragon&#x27;s Edgar &quot;Injap&quot; Sia and Udenna Corp&#x27;s Dennis Uy, he said.</p><p>Risks to succession include transitioning to a huge conglomerate from a &quot;mom and pop&quot; operation, ownership, wealth management, professionalizing the organization and wealth management, he said.</p>

<p>The deaths of tycoons who built their empires from scratch such as Henry Sy and George Ty signal a changing of the guard while highlighting the need for succession planning, an analyst said Wednesday.</p>

The deaths of tycoons who built their empires from scratch such as Henry Sy and George Ty signal a changing of the guard while highlighting the need for succession planning, an analyst said Wednesday.