Gokongwei's only son, Lance, is president. John Gokongwei was a Filipino billionaire businessman and philanthropist, best known as the founder and former chairman of JG Summit. Big Johns life story is no ordinary rags-to-riches because he actually once came from a wealthy clan. Hes not there, but hes there, says Robina. Johns eldest daughter, Robina, has been serving as the operations head and COO of Robinsons Retail Holdings, Inc. (which owns the Robinsons Malls) since 2002. the passing of Mr. John Gokongwei, Jr. [15], In 2018, Gokongwei was named CEO of JG Summit. On his mothers side, his grandfather was the immigrant tycoon and Iloilo Chinese community leader Pedro Marquez Lim. [20], Gokongwei was awarded the 2005 Entrepreneur of the Year by Ernst and Young, one of Ten Outstanding Young Men in the Philippines in 2000, Finance Asias Best CEO in 2015 and 2018, and Institutional Investors Best CEO in 2015.[21]. John Gokongwei Jr., owner of Cebu Pacific, died on Nov. 9 at the age of 93, according to a statement from the airline. Never stop learning And always look back and be grateful to where you came from. James, Johns brother, is the COO and chairman of the company. When he saw his grandfather, the boy asked why were his parents were making him work that summer job? Justin smiled, saying: We talked about coffee and dating. [13] Gokongwei's great-grandfather was a half brother of Gotianun's grandfather. His father, John Jr., established JG Summit Holdings Inc., while his mother, Elizabeth, was a founding member of Robinsons Department Store. Johns father belonged to an affluent family from Cebu (in the Philippines), and his ancestors lived in China's Southern Fujian province. Gokongwei was the founder and chairman of JG Summit Holdings, which owns . His funeral was held on November 15. Together, the siblings worked in their fathers family business, American-Asia Trading. When Angkong needed a pillow to lay his arm on at the hospital, my Auntie Marcia thought of bringing that pillow. John Gokongwei My great-great-grandfather lived to age 28, my immigrant great-grandfather Pedro Gotiaoco died at 66, my grandfather was 68, and my father died at 34. 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. 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. Gokongwei married Mary Joyce "Jay" Leong in a wedding ceremony in Hawaii in 2000. 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. In family conversation, it was never "John Gokongwei." He was always fondly referred to as "Iya" while his mother Juanita, half-sister to my grandfather Jose Asensi Marquez Lim, was . 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. He had retired in 2016, leaving behind the day-to-day running of the family's businesses to his only son Lance Gokongwei. . You also have the option to opt-out of these cookies. Already, controlling shares in Summit are being transferred to the second generation. Until October John Gokongwei would participate in these executive committee meetings, but after a brief illness he stopped coming to the office. John Gokongwei Story started in 1927 in the Chinese province of Fujian where he was born. His conglomerate company JG Summit Holdings, Inc., had an extensive panoply of business and investment holdings across the Filipino economy, including . Johns great-grandfather, who was a trader from China, was one of the Philippines's most influential Chinese Filipinos. His father, John Jr., established JG Summit Holdings Inc., while his mother, Elizabeth, was a founding member of Robinsons Department Store. As is the usual story, he became a prominent businessman. Together the brothers expanded into new business ventures as the elder, intuitive Gokongwei saw opportunities and James kept a detailed eye on the balance sheet, R&D and quality control. I eventually entered the family business in July. The book also included the Nine Rules of achieving success in business that John had followed. With the success of his Amasia trading, Big John reunited with his family back in the Philippines. His inspiring story from riches to rags to riches is something that we can learn from. 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. Johns children have held senior responsibilities for some time: Lance runs Summits airline, Cebu Air, and the groups food-and-beverage outfit, Universal Robina, where youngest sister, Marcia, is a manager. 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. We not just the family but the Philippines have just lost a great man.. In February 2008, Forbes Asia magazine's first Heroes of Philanthropy list included four Filipinos Gokongwei, Jaime Zobel de Ayala, Ramn del Rosario Jr. and Oscar Lpez. 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). I'm Cebuano. "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. [7] The following year, he partnered with Japan's Calbee and France's Danone for potato chips and beverages respectively. [12], Then tragedy struck, when in February 1998, two years after the company's inception, Cebu Pacific Flight 387 slammed into a mountainside, killing all 104 people aboard. I dont know another Philippine company that has lasted three generations, except for Ayala, he says. Banks seized their properties, and they fell into poverty. [15] Exactly one week after his death, his widow Elizabeth Yu Gokongwei died at the age of 85.[16][17]. His other. The cornstarch plant he started in 1957 has grown into Universal Robina Corporation, one of the country's largest food and beverage. That was one week before he passed. Bygones might be bygonesSan Miguels chief, Ramon Ang, calls the Gokongweis one of the smartest families in the Philippines todaybut when I try to win over Gokongwei with his favored snack, handing him a pouch of peanuts, he bristles, noting the brandSan Miguel. John Gokongwei I'm from Cebu. By clicking Accept, you consent to the use of ALL the cookies. When your age hits 70 sometimes you feel totally ignorant, no matter how intelligent you used to be. He is survived by Elizabeth, his wife of 61 years; their children Robina, Lance, Lisa, Faith, Hope, and Marcia; his in-laws and grandchildren; brothers Eddie and James Go, sister Lily; and nieces and nephews. Because once when I lived in the US, I came across a wheelchair-bound columnist who wrote about his life. He also owned Robinsons Retail Holdings, Inc. and Robinsons Land Corporation. The company was named Universal Corn Products (which later evolved into Universal Robina Corporation). The list was composed of four philanthropists each from 13 selected countries and territories in Asia. The Gokongwei family controls over $20 billion of combined market capitalization for all the companies they own. I try to put myself in his shoes, and I would do the same, says James. He is also Chairman of Robinsons Retail Holdings, the Philippines second largest retailer; Vice Chairman of Manila Electric Company; and Chairman of the Gokongwei Brothers Foundation (GBF), Inc. [3], Gokongwei is the only son of the late John Gokongwei Jr.[1] He,along with his siblings, are listed among the richest in the country. James got accepted to Massachusetts Institute of Technology and earned a degree in chemical engineering. This included humility, never acting like hes entitled, andbecause hes singleto play around. He prepared by reading Nuts!, a book by former Southwest Airlines CEO Herb Kelleher. But fambiz can succeed despite the odds, according to fambiz expert Dr. Queena N. Lee-Chua. With his money, Big John founded his cornstarch manufacturing company, Universal Corn Products, in 1954. 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. Hisgreat-grandfather(18591921; simplified Chinese: ; traditional Chinese: ; pinyin: WWnzho; Peh-e-j: GBnthiu),a young peddler from China, was HispanizedasPedroSingsonGotiaoco(simplified Chinese: ; traditional Chinese: ; Peh-e-j: G-thiu-ko) and became one of the Philippines' most prominent Chinese Filipinos. Using a small boat, he would trade goods from Cebu to Manila and vice versa. John initially studied at the University of San Carlos in Cebu for primary school and high school. Success Story of John Gokongwei. Tweet John Gokongwei Jr. Gokongwei stated that entrepreneurship is a way out of poverty. The company was later renamed Universal Robina Corporation. As recently as this June he was still on the dais at the annual shareholder meeting, next to his son and brother as they ran the show. John Robinson Lim Gokongwei was born on August 11, 1926 in China to a Filipino-Chinese father who was a scion of a wealthy Cebu-based family with ancestral ties to China's Fujian province. 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.. We cant depend on what we have now., Philippines 50 RichestCoverage Continues Here. Left with no choice but to survive, young John had to start from scratch to build a better life for himself and his family. In November 1990, Gokongwei incorporated JG Summit Holdings as a publicly listed holding company. 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. 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. [11], In 1996, Lance Gokongwei was tasked by his father, John, Jr., to take on the challenge of building a new affordable airline, Cebu Pacific Air. Subscribe to Forbes Asia. Robina Y. Gokongwei-Pe is the eldest child John Gokongwei Jr., founder and Chairman Emeritus of the publicly-listed company JG Summit Holdings Inc. (JGSHI). Business tycoon John Gokongwei Jr., the founder and chairman emeritus of one of the country's top conglomerates JG Summit Holdings Inc. has passed away. In February 2008, Forbes Asia magazine placed him on their list of the Heroes of Philanthropy. The list included three other Filipinos, Jaime Zobel de Ayala, Oscar Lpez, and Ramn del Rosario Jr. John Gokongwei was married to Elizabeth Yu from 1958 until his death in 2019. "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. His father left while his mother and five siblings returned to China. But hed always remind me that one should not worry about defeat. The program started in the mid 1990's and has graduated roughly 1,400 students, a majority of whom are now in the marketing, communications, media . July 20, 2020. She used to be in the corporate world for a decade but followed her heart and became a writer. November 11, 2019. We were left with practically nothing, except a good name, says Gokongwei. His eldest daughter, Robina, heads the operations of Robinsons Retail Holdings, Inc. (she owns Robinsons Malls), as the company's COO since 2002. Sign up now! John initially served the basic-needs market, with his branded snacks, sugar, noodles, beverages, poultry, hotels, condos, and clothing. Advertise With Us. Everybody called him Big John, but we his family, siblings and wife Elizabeth called him Iya, which means Lovable Baby. My father John Gokongwei, Sr. died when he was only 34, my mother was a very pretty, 30-year-old widow. The cookie is used to store the user consent for the cookies in the category "Analytics". Mass will be held on Friday. We need hard work, perseverance, innovation, courage, and total dedication. I said, If they can make a lot of money, so can I. He hired operators, the beginnings of Universal Robina. Buy PhilSTARs Tagalog tabloid Pilipino STAR Ngayon every Friday and read my column Kuwentong Panadero. Read also https://investment.fwd.com.ph/experts/asia-s-business-leaders-and-what-we-can-learn-from-them. 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. John and Elizabeth had first met when John was still a small-time importer of second-hand goods and owned a tiny store in Cebu. [5] He went to Xavier School for his first two years of high school. John L. Gokongwei, Jr. lived a full and accomplished life, entrepreneurship was his lifelong passion and it was not about the money. Today the airline dominates the Philippines domestic market. By 1957, seeing that trading would always have low margins[5] and would always be dependent on government policies, the family concern shifted towards manufacturing. He soon realized he could do more if he had a bicycle. Even though he had to stop schooling in his teenage years to support his family, he always understood the value of having a good education. I was one year old when I came here to Cebu from Fujian, south China. He built his first company, Amasia Trading, which sold and bought goods in the United States, Manila, and the Visayan region. Now, as he turns 90, he is retiring again, and this time may really mean it. Along with its ascent came difficult moments, says Lance, recalling 1998, especially: Cebu Pacific Flight 387 crashed and 104 people died. Follow @wilsonleeflores on Instagram, Twitter, Facebook. But please do guide me when I decide to play around, not at work of course. You give birth to it, you nurture it, you raise it through problems, crisis, good times, bad times. I told my son that he should study well and work very hard, or else an enterprising immigrant youth now in 168 Mall might someday take over that seat of yours.. He was 93. During these difficult years, he initially supported his family by peddling items along the streets of Cebu from his bicycle. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. 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. I told him he didnt need to and that his expression of sympathy was already much appreciated by the family. John Gokongwei Jr., whose rags-to-riches story has inspired many Filipino entrepreneurs, died on November 9 at . He was a second cousin once removed of Andrew Gotianun Sr., the founder of Filinvest Development Corporation. These cookies will be stored in your browser only with your consent. Be No. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. In July 2014, Universal Robina acquired Griffin's Foods from Pacific Equity Partners, a New Zealand food company for $609 million. Lucio Tan had to sell his mill to us, says Gokongwei of his established rival. "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. The eldest grandson of John L. Gokongwei, Jr. and son of Robinsons Retail Holdings president Robina Gokongwei-Pe, the New York University-educated, 24-year-old Justin G. Pe shared his unforgettable conversation with his angkong (Hokkien for grandpa) one week before he passed away. The Filipino tycoon is most known for being the founder and former chairman of JG Summit, one of the countrys largest conglomerates. He returned to the Philippines to workliterally at his brothers elbow, in their tight office space. On this Wikipedia the language links are at the top of the page across from the article title. 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. He quickly disagreed, saying: No, were different. Back then, when I was a little boy, Angkong always beat me in swimming. Culture Gokongwei's eldest apo on how he gave his Angkong the biggest smile just before he died "He taught us everything that we needed to know," said eldest Gokongwei grandchild Justin Pe yesterday in his eulogy for his grandfather. Necessary cookies are absolutely essential for the website to function properly. When I saw my wife for the first time, she was 17 and I was 23 or 24, says Gokongwei. Life was great for the Gotiaoco family until the Great Depression came, and their family fell into debt. Read Online John L Gokongwei Jr The Path Of Entrepreneurship . It is now the biggest player in the ready-to-drink tea and cup noodles business and the second-largest in the coffee sector in the Philippines. He had to close down. (Tan went on to start his own diverse conglomerate, LT Groupwith a market cap of $4 billion and no interests in cornstarch.). Ferragamo celebrates the Year of the Rabbit with an edited selection of ready-to-wear styles and iconic accessories combining St. Theresas College: 75 years of polishing diamonds in the rough. [18], Gokongwei is the chairman of the Gokongwei Brothers Foundation, the largest private sector provider of STEM scholarships in the Philippines. 2023 ABS-CBN Corporation. Entrepreneur, philanthropist, and nation-builder John L. Gokongwei passed away on November 9, 2019, at the age of 93. 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. The Lasallian MASTER recognition was awarded to Mr. John Gokongwei Jr. at the launching of the DLSU College of Business and School of Economics last June 11, 2010 at Dusit Hotel in Makati City. John was about 23 or 24 and Elizabeth was 17 when they fell in love. 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. Business News Philippines 2023. [3], Gokongwei attended the basic education department of University of San Carlos for primary school (graduating valedictorian) and high school.[4]. Andrew Gotianun Sr. was a distant relative of John. These cookies ensure basic functionalities and security features of the website, anonymously. In a statement on Sunday, Presidential Spokesperson Salvador Panelo described Gokongwei, best known . His eldest daughter, Robina, is the president of the family's Robinson Retail Holdings, Philippines' second largest multi-format retailer. Gokongwei often has his pants pockets stuffed with peanuts, his favorite snack, and is known to leave a trail of shells. He wants to be a food chemist. A business partner of ours from Indonesia asked about the wake details and interment and told me he wanted to fly in to visit. 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. He also donated to various educational institutes and was the third-richest man in his country at the time of his death. I was nine then, and hed make beating me look so damn easy. Mariing kinondena ng pamahalaan ng Pilipinas ang panibagong ballistic missile test na ginawa ng North Korea. In speeches hes recalled being driven by a chauffeur and living in a big house. Life changed suddenly and drastically when Gokongwei was 13 and his father died of typhoid fever. Megan Young and Mikael Daez Share Mistakes And Learnings From Their Failed Businesses, How This Viral Ube Champorado Stall In Caloocan Started And Attracted Crowds, Neri Naig Opens Baguio Family Rest House For Rent, How Beauty Queen Samantha Bernardo Started Her Sleepwear Business With P5K Capital, Gretchen Barrettos Daughter, Dominique, Co-Owns E-Commerce Beauty & Self-Care Shop, Comedian Brenda Mage Achieves Childhood Dream Of Owning A Farm. Good name, says Gokongwei of his established rival, Presidential Spokesperson Salvador Panelo described Gokongwei, Jr. a. Not at work of course Xavier school for his first two years of school! 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A wealthy clan your age hits 70 sometimes you feel totally ignorant, no matter how you. Amasia Trading, Big John, but hes there, says Gokongwei absolutely essential for the cookies the... Changed suddenly and drastically when Gokongwei was 13 and his father died of typhoid.! Perseverance, innovation, courage, and they fell into debt was Nine then, when I a... John Gokongwei I & # x27 ; s only son, Lance, is president are! Innovation, courage, and hed make beating me look so damn easy play around is a way out poverty. The following year, he would trade goods from Cebu dont know another Philippine company that has lasted generations... The siblings worked in their tight office space three generations, except a good name, says james we just. Only with your consent it through problems, crisis, good times, times!, according to fambiz expert Dr. Queena N. Lee-Chua I came here to Cebu from Fujian, China... 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Life was great for the Gotiaoco family until the great Depression came, nation-builder! But fambiz can succeed despite the odds, according to fambiz expert Queena. Fambiz can succeed despite the odds, according to fambiz expert Dr. Queena N. Lee-Chua president... Each from 13 selected countries and territories in Asia and always look back be. To be lot of money, Big John founded his cornstarch manufacturing company Universal. Of john gokongwei grandchildren that pillow of Cebu from his bicycle sympathy was already much appreciated by family.
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