Gokongwei married Elizabeth Yu in 1958 and had six children (one son and five daughters) Lisa, Robina, Lance, Faith, Hope and Marcia. He also acquired New Zealand-based cookie maker Griffin's Foods for 700 million New Zealand dollars ($609 million at the time), giving Universal Robina a presence in the South Pacific. By 1957, John realized that trading would not earn him much profits. The company was later renamed Universal Robina Corporation. He also made generous donations to institutes such as the University of San Carlos, the De La Salle University, the Sacred Heart School, the Xavier School, and the Immaculate Conception Academy. Credit: Munshi Ahmed for Forbes. His inspiring story from riches to rags to riches is something that we can learn from. These cookies will be stored in your browser only with your consent. She had also been a founding member of the Robinsons Department Store and had served on the board of trustees of the Gokongwei Brothers Foundation (GBF). By clicking Accept, you consent to the use of ALL the cookies. This website uses cookies to improve your experience while you navigate through the website. Success Story of John Gokongwei. Love your country. Subscribe to Forbes Asia. See the events in life of John Gokongwei in Chronological Order, (Filipino Businessman, Investor, Founder and Chairman of JG Summit Holdings, Inc), https://www.thefamouspeople.com/profiles/john-gokongwei-21045.php. It was at this moment that I realized that we had lost more than an uncle and a boss; sometimes we are just too close to the situation that we dont see the forest for the trees. We decided to put the same pillow with him now because we know it will provide comfort for him if he knew that that one of his bestselling snacks would go with him to the beyond. This cookie is set by GDPR Cookie Consent plugin. At the age of 17, Big John rediscovered his familys love for trading and expanded his business. So at age 15, having dropped out of school to work, he started selling goods like soaps and tires at the local market. I said, If they can make a lot of money, so can I. He hired operators, the beginnings of Universal Robina. I often visited my Angkong to play mahjong, along with my grandmother and cousin Therese. Though he belonged to an affluent trading family, he lost all his wealth after his fathers death. The family would shuttle back and forth between China and the Philippines, but the fortune was lost when Gotiaoco's grandson, John Gokongwei Sr. passed away prematurely. Among Gokongweis proudest achievements is JG Summits entry into the airline business, whose success he credits to his son. Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. On behalf of the third generation, and as your employee, we promise to keep your legacy shining brightly. His great-grandfather, Pedro Gotiaoco, was one of the richest men in Cebu in the 19th century. As for himself, he says its time for him to enjoy life and focus on philanthropy. Last November 9, 2020, marks the first death anniversary of John Gokongwei Jr., a Filipino business tycoon and philanthropist who founded JG Summit, one of the largest conglomerates in the country. Their love gifted them with six children: Robina, Lance, Lisa, twins Faith and Hope, and Marcia. His presence is very much felt., Where John usually is, instead, is at home with the woman he married 58 years ago, as he was plying the import trade in his native Cebu, pre-JG Summit. Anyway, like my mom, I decided that sticking to something despite so many defeats is no longer being smart. What did they talk about in that last conversation? This year, two of the Philippines' greatest taipans passed away, both peacefully. She now writes for a number of websites and other online media publications. Cebu Pacific is currently headed by Presidentand CEO Lance Gokongwei, presumptive heir of John Gokongwei, the chairmanemeritus of JG Summit.With a company slogan, "It's time . His foundations bent is education. He also brought down mobile phone costs by pioneering unli-texts and unli-calls with Sun Cellular. In 1961, John Gokongwei launched another company, Consolidated Food Corporation (later renamed CFC Corporation). John Robinson Lim Gokongwei Jr. was born on August 11, 1926, in Xiamen, Gulangyu Subdistrict, Republic of China, to John Gokongwei, Sr. (Go Kong Wei) and Juanita Mrquez Lim. Yet after seven years of operating at a loss, Digitel was sold in a share swap in 2011 to Philippine Long Distance Telephone (PLDT), one of the countrys two telecom giants (JG Summit now owns an 8% stake). Gemma Cruz Araneta, the first Filipina Miss International in 1964, is a Rizal descendant, the first major beauty contest winner Its the time of year when first cousins who once moved to the other side of the world come for a visit. John was about 23 or 24 and Elizabeth was 17 when they fell in love. His funeral was held on November 15. In this collection of the most popular pieces from . With a loan of 500 thousand pesos from Albino Sycip, then chairman of China Bank, and Dee K. Chiong, he started a corn milling plant producing glucose and corn starch. Years of hard work, discipline and brilliant strategic thinking made the entrepreneur into the countrys undisputed Snack Foods King with his Jack n Jill brands, a visionary industrialist and founder of many other progressive enterprises under JG Summit Holdings, Inc. Gokongwei pioneered the budget airline concept, which made Philippine airline travel affordable, with Cebu Pacific Air. All Rights Reserved. The conversations are private and, of course, summaryJohn Gokongwei retired from the company 15 years ago, becoming chairman emeritus as his brother, James L. Go, took over formal leadership. Johns father belonged to an affluent family from Cebu (in the Philippines), and his ancestors lived in China's Southern Fujian province. The family fortune was lost after the death of his father in 1939 when Gokongwei was 13 years old and World War II (19391945) was just starting. Go told Usapang Bilyonaryo how his beloved Uncle John made sure he had options in a media career after seeing how he loved writing in college. The Philippines late Snack Food King, petrochemicals and budget airline pioneer John L. Gokongwei, Jr. was one of Southeast Asias most respected self-made business leaders and philanthropists when he died at age 93 on Nov. 9. Tycoon John Gokongwei Jr. (Photo courtesy of JG Summit Holding Inc.) MANILA-- Malacaang expressed its deep condolences to the family of tycoon John Gokongwei Jr. who passed away on Saturday night, remembering him for his "substantial contributions to the country's growth and development.". In 1977, Gokongwei earned his Master of Business Administration from De La Salle University. Business News Philippines 2023. We cant depend on what we have now., Philippines 50 RichestCoverage Continues Here. At the age of 14, he started selling peanuts in the streets to send money to his family in China. With a net worth of US $5.3 billion, making him the third richest man in the Philippines in 2019, John Gokongwei Jr. has really come a long way from the young boy who sold soap, thread and other basic needs in post-war Cebu. Using a small boat, he would trade goods from Cebu to Manila and vice versa. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. John Gokongwei Story started in 1927 in the Chinese province of Fujian where he was born. Careers In 1992, John together with his brothers, Johnson, Henry, and James, donated a significant portion of their shares from JG Summit to their very own foundation, Gokongwei Brothers Foundation (GBF) which aims to create lasting impact on education in the Philippines. His patrilineal great-grandfather was Don Pedro Lee Gotiaoco, a wealthy Chinese immigrant tycoon who was once the largest taxpayer in Cebu. A decade later Lisa would launch Summit Media, this time acquiring no newspapers, just nonpolitical magazines and websites. Our new product developments have contributed a lot, and so have Great Taste Premium and Great Taste Choco. I swear to God that he had the biggest smile I ever saw in his face. Taipan John Gokongwei continues to shower his family with his generosity three years after passing away at the age of 93. He came from Fujian province in China and owned a huge trading company, Gotiaoco Hermanos. Once at a dinner in his home, I commented to Gokongwei that he had remarkably replicated the 19th-century rags-to-riches saga of his immigrant great-grandfather Pedro Gotiaoco. John Gokongwei Jr. came from a wealthy clan in Cebu but they lost everything because of world war 2. The cookie is used to store the user consent for the cookies in the category "Performance". He checks his Bloomberg Terminal at home each weekday and has been weighing what JG Summit should do next. He is also second cousins with the Gaisano family, with Doa Modesta Singson-Gaisano being his grandaunt (his grandfather's sister) which he used to call in Hokkien Chinese: ; Peh-e-j: Lu -ko; lit. The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies track visitors across websites and collect information to provide customized ads. But hed always remind me that one should not worry about defeat. I try to put myself in his shoes, and I would do the same, says James. Portrait of John Gokongwei Jr. Photo: Handout from JG Summit Holdings Inc. Website. When John was 13 years old, his father died suddenly due to typhoid fever. Elizabeth tolerates that in order to keep him away from the lechon (roasted pork) and ice cream that he wants most. You may have passed away, but your legacy will live on. Her name was taken from her father's second name, Robinson. To this day, my cousins and I still play mahjong every Sunday lunch, but I guarantee that none of us could match the sharpness that both my Amah and Angkong had when it comes to mahjong. But as for the second question, Ill get to that much later. His father was a scion of a wealthy Cebu-based family with ancestral ties to China's Southern Fujian province. Indeed, for the don of JG Summit, retirement remains an unnatural act. The company merged with Universal Robina Corporation. He is survived by his wife of 61 years, Elizabeth Yu, and his children Robina, Lance, Lisa, Faith and Hope, and Marcia, his in-laws and grandchildren, brothers Eddie and James, the current chairman of the company, his sister Lily, and his nieces and nephews. It was a sad moment and there was a flood of messages coming in, condoling with us. Together, the siblings worked in their fathers family business, American-Asia Trading. John Gokongwei Jr., whose rags-to-riches story has inspired many Filipino entrepreneurs, died on November 9 at . Justin recalled: Angkong told me that he was only 13 years old when he had to start working for the sake of the family., Justin also shared that in April or May this year, Gokongwei told him: I want to see you in the family business before I die. In 1958, John and Elizabeth got married and had six beautiful children: Robina, Lance, Lisa, twins Faith, Hope, and Marcia. He was 93. Around then Gokongwei advised brother James, 13 years younger and a gifted student, to go study in America, and hed foot the bill. Lance Y. Gokongwei is the President and Chief Operating Officer of JGSHI. He is survived by his wife of 61years Elizabeth, and children Robina, Lance, Lisa, Faith, Hope and Marcia; his in-laws and grandchildren; brothers Eddie and James Go, sister . In the early 1950s, John started importing cigarettes and whiskey, too. John and Elizabeth got married in 1958. His conglomerate company JG Summit Holdings, Inc., had an extensive panoply of business and investment holdings across the Filipino economy, including shipping, telecommunications, retail, financial services, petrochemicals, utilities, aviation, food, beverages, and livestock farming. [4], Gokongwei was born in Manila, as the second of six children. John Robinson Lim Gokongwei, Jr. (traditional Chinese: ; simplified Chinese: ; pinyin: W Yhu; Peh-e-j: G Ek-hui; born Go Ek-hui) is a Filipino business magnate, investor, and philanthropist. If theres one thing that I wish could happen, its that he still would have been here to see his grandchildren graduate from college and have good careers. [5] He went to Xavier School for his first two years of high school. Banks seized their properties, and they fell into poverty. My thay-kong (Hokkien for great-grandpa) wasnt able to prepare well for his succession in the case of my grandfather, who was his eldest son. Directors and San Miguel Corporation. The following year, JG Summit launched the green tea brand C2, thus revolutionizing the beverages market of the country, which was controlled by cola companies back then. He launched his first company, Amasia Trading, in 1946. John then launched a corn milling plant, named Universal Corn Products, and started producing corn starch and glucose. He is survived by his wife, six children and at least 12 grandchildren. He had retired in 2016, leaving behind the day-to-day running of the family's businesses to his only son Lance Gokongwei. Thanks for your feedback to [emailprotected]. The cornstarch plant he started in 1957 has grown into Universal Robina Corporation, one of the country's largest food and beverage. I initially thought that Id have a hard time in the family business due to the alleged long hours and a salary lower than I got in Shell but oh how I was truly mistaken. On this Wikipedia the language links are at the top of the page across from the article title. Gokongwei was one of two remarkable rags-to-riches business tycoons, the other one being Henry Sy Sr., whom Ive known for over three decades and considered a friend since I was a college student. the passing of Mr. John Gokongwei, Jr. Necessary cookies are absolutely essential for the website to function properly. Ive come to love and enjoy drinking coffee ever since.. I eventually entered the family business in July. John died in 2019. [17] As a result, its income and revenues fell. This page was last edited on 28 January 2023, at 21:04. I left for Manila when I was 22. John Gokongwei and his family now owns a lot of big companies: chemicals, food, airline, mall chain, mobile service provider and even an entertainment showbiz magazine. After World War II, he started his own company called Amasia Trading, which imported flour, onions, fruits, used clothing, old newspapers, and magazines from the United States. [15] Exactly one week after his death, his widow Elizabeth Yu Gokongwei died at the age of 85.[16][17]. The Gokongwei family controls over $20 billion of combined market capitalization for all the companies they own. Initially, he dealt in second-hand goods imported from the U.S., but after his family joined in, he started dealing in beverages and cigarettes, too. I admired and liked him very much. Whenever he gave opinions, he was never condescending but always humble., Years ago, when Justin was 11 years old, he was made to work in the familys Toys R Us store during summer. John Robinson Lim Gokongwei Jr. (traditional Chinese: ; simplified Chinese: ; pinyin: W Yhu; Peh-e-j: G Ek-hui; 11 August 1926 9 November 2019)[2] was a Filipino businessman, investor, and philanthropist. I have been part of this company for almost a decade now (2yrs to go), and I am proud to still be here to celebrate one of its biggest milestones, its 20th [5] He went to Xavier School for his first two years of high school. It does not store any personal data. All the Gokongwei children work actively for their family business group. Gokongwei was born in Fujian province, southern China, as a fourth-generation scion of a rich family whose great-grandfather was the immigrant tycoon and Cebu Chinese community leader Pedro Gotiaoco. He became the. Born in Fujian, China, and raised in . Success Story of John Gokongwei Success Story of John Gokongwei "We need blood and sweat and hard work to make the Philippine economy compete globally, for our family businesses to be world class in this era of globalization. A report by Esquire magazine, one of the publications of Gokongwei-owned Summit Publishing Company Inc., said it received the following text message from the tycoon's only son Lance. Justin, who said he just joined the family business four months ago, also thanked Mr. John for teaching him humility, how to ride a bike, and to play around. For what he exactly meant, below is Justins full eulogy courtesy of the Gokongwei family. [18], Gokongwei is the chairman of the Gokongwei Brothers Foundation, the largest private sector provider of STEM scholarships in the Philippines. Thus, in his teens, he began trading on the streets of Cebu. She used to be in the corporate world for a decade but followed her heart and became a writer. I was one year old when I came here to Cebu from Fujian, south China. He also gave donations to University of San Carlos, Xavier School, De La Salle University, Sacred Heart School Ateneo de Cebu and Immaculate Conception Academy (ICA).[9]. President and CEO of JG Summit Holdings Inc. Chairman of the Gokongwei Brothers Foundation, Inc. Top row: John, Elizabeth, and daughter Robina. Tweet John Gokongwei Jr. Love your family. The company imported flour, fruits, onions, used clothes, old newspapers, and magazines from the U.S. It has also provided the content and technology teachers and other stakeholders need to develop their skills as educators." "John Gokongwei Jr., Industry Game Changer; 93", "Watch: John Gokongwei, Jr. Talks About School, Business, and the New Digital Age", "Gokongwei's Nine Rules of Business Success", "A Way out of Poverty, According to 'Mr. In a statement to the media, his son Lance Gokongwei said: "Our beloved husband, father and grandfather John Gokongwei passed away peacefully 11:41 p.m., November 9th, at the Manila Doctor's Hospital surrounded . A A. In the early 1950s, along with his brothers and sisters who returned from China, he started to import cigarettes and whiskey too. A total of 384,874 shares in JG Summit were distributed to Gokongwei's brother, children and nephews "as a result of estate settlement.". Also Known As: John Robinson Lim Gokongwei Jr. father: John Gokongwei, Sr. (Go Kong Wei), siblings: Henry Go, James L. Go, Johnson Go, Lily Ngochua, children: Faith Gokongwei, Hope Gokongwei, Lance Gokongwei, Lisa Gokongwei, Marcia Gokongwei, Robina Gokongwei, Founder/Co-Founder: JG Summit Holdings, Cebu Pacific, Universal Robina, Robinsons Malls, education: De La Salle University, Ateneo De Manila University. The company is the second-largest multi-format retailer in the Philippines. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. He is also President and Chief Operating Officer of URC, and JGSPC. John initially studied at the University of San Carlos in Cebu for primary school and high school. He enjoys reading and exercising [37], and was a finisher in the 2009 New York Marathon [38]. James got accepted to Massachusetts Institute of Technology and earned a degree in chemical engineering. Still, its hard to shed old habits. He eventually unloaded his stake. The last time I had visited him at his home a few months ago, he seemed to have lost some weight but was nevertheless in good health and still intellectually sharp. JG Summits Digital Telecommunications Philippines (Digitel) had been the first there to launch unlimited mobile texting. His nephew Patrick Henry Go, president and CEO of JG Summit Petrochemicals Group, shared a memory of witnessing an animated late afternoon meeting between his late dad Henry Go and Gokongwei on whether to further expand their diverse businesses. Powered by. In 2013, Johns company purchased San Miguel Corporations stakes in MERALCO, the Philippiness biggest power distributor, for almost $1.8 billion. We must compete not just with rhetoric and words. In July the following year, Griffin's Foods was acquired by Universal Robina for $609 million, from Pacific Equity Partners, a New Zealand-based food enterprise. [14], Gokongwei died in Manila on 9 November 2019, at the age of 93. Other key JG Summit businesses, including land development, banking and petrochemicals (closely held with revenues of $415 million in 2015), are run by extended family members and professionals who arent at the Gokongwei Sunday lunches but convene with James, Lance, Lisa and Robina every Friday afternoon to thrash out corporate matters. Mass will be held on Friday. "He is survived by his wife of 61 years, Elizabeth, and his children Robina, Lance, Lisa, Faith, Hope, and Marcia; his in-laws and grandchildren; brothers Eddie and James Go, sister Lily; and his nieces and nephews," the statement added. In 2010, the airline underwent major refleeting with a $3 billion order with Airbus. The white rabbit the luckiest animal in the Chinese zodiac hops into Ferragamos 2023 collection. John was only 20 back then. He received his Masters degree in Business Administration from De La Salle University in 1977 and has, since then, been an ardent supporter of education. He then finished his last two years in Singapore. John initially served the basic-needs market, with his branded snacks, sugar, noodles, beverages, poultry, hotels, condos, and clothing. The airline is a subsidiary of JG Summit Holdings, controlled by the Gokongwei family - one of the richest Filipino- Chinesefamilies based in the Philippines. Among the timeless business lessons we can learn from Big John is to realize the true meaning of being an entrepreneur. But just as when he first retired ten years before, at age 65, John could notdid notreally leave the drivers seat. He said, Choose to be an entrepreneur because then you desire a life of adventure, endless challenge, and the opportunity to be your best self.. Following World War II, in 1946, John Gokongwei launched his first company, Amasia Trading. At the time of his death, John was the third-richest man in the Philippines, according to Forbes. The movie theaters, cars and the big house were all seized by the banks. The cookies is used to store the user consent for the cookies in the category "Necessary". This story appears in the Septemper 12, 2016 issue of Forbes Asia. Through his efficient and competitive businesses, the visionary Gokongwei brought down prices for consumers with his budget airline, affordable foods, and unli-texts and unli-calls for cellphones. That was one week before he passed. We must compete not just with rhetoric and words. His in-laws and grandchildren; brothers Eddie and James Go (chairman of JF Summit), sister Lily; and his nieces and nephews count among his descendants. During those very tough days in the hospital when we never knew whether he would give up or still fight, I happened to catch him in his best moment. He supported mainly educational charities through the familys Gokongwei Brothers Foundation. The Filipino-Chinese entrepreneur and philanthropist died Saturday night, Nov. 9, 2019 at the age of 93 surrounded by family at the Manila Doctors Hospital in Manila.. His status as the country's third richest businessman, with a wealth of $5.3 billion according to Forbes magazine was . By 1944 hed entered what he calls the batel age, when he broadened his inventory and used the wooden boats to trade goods in Manila, reclaiming more of his great-grandfathers legacy. John Gokongweis biography, John L. Gokongwei Jr.: The Path of Entrepreneurship, written by Dr. Marites A. Khanser, was released on August 29, 2007, at the Ateneo de Manila University. Terms Fellow billionaire and former Trade Minister Roberto Bobby Ongpin told me: Gokongwei was probably the most educated tycoon in the Philippines, the only one whod talk to me about derivatives., The youngest brother of Gokongwei, in his own right a topnotch business leader, JG Summit Holdings chairman James L. Go, said: My eldest brother was very complex. Front row: Daughters Faith and Marcia Photo by FROM T&C PH. Khanser's book also enumerated the Nine Rules of business success[8] that Gokongwei followed since he was still a young businessman. His strong resolve towards life made him successful and become one of the richest men in the. John died on November 9, 2019, at the Manila Doctors Hospital, Manila, Philippines. allen wrestling coaches, And JGSPC Doctors Hospital john gokongwei grandchildren Manila, Philippines 50 RichestCoverage Continues Here time of his,... True meaning of being an entrepreneur Corporation ( later renamed CFC Corporation ) [ 14 ], Gokongwei his. [ 17 ] as a result, its income and revenues fell Fujian. And i would do the same, says James the movie theaters, cars and the Big house all. Collect information to provide customized ads from De La Salle University airline business, whose success he to! 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