JG Summit's legend is well known among the firm's 35,000 employees: Gokongwei, the eldest of six children, grew up well-off in an ethnic Chinese family in Cebu, where his father owned a chain. Lance demurred in favor of his family destiny, now firmly set in motion by his uncles timetable. 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. In my case, I have trained and carefully prepared my son Lance to be a good successor. Yet despite his success as one of the Philippines' most successful businessmen, he stayed humble throughout. You may have passed away, but your legacy will live on. Gokongwei used his bicycle to trade goods through checkpoints across towns. Copyright 2023. Necessary cookies are absolutely essential for the website to function properly. [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. With the success of his Amasia trading, Big John reunited with his family back in the Philippines. Life was great for the Gotiaoco family until the Great Depression came, and their family fell into debt. 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. However, his companies later dominated other sectors, such as travel, petrochemicals, energy, and banking, too. He and his family thus focused on manufacturing. John initially studied at the University of San Carlos in Cebu for primary school and high school. The cookies is used to store the user consent for the cookies in the category "Necessary". The airline is a subsidiary of JG Summit Holdings, controlled by the Gokongwei family - one of the richest Filipino- Chinesefamilies based in the Philippines. This cookie is set by GDPR Cookie Consent plugin. [22] They have a daughter and a son. John died on November 9, 2019, at the Manila Doctors Hospital, Manila, Philippines. From journalists Emmie Abadilla He pointed at me and called me, and in his grungy voice, asked me directly without blinking: How are our coffee sales? I responded: Were doing much better this month Angkong! Big John found an interest in the cornstarch business but didnt have enough funds. Already, controlling shares in Summit are being transferred to the second generation. . [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]. 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. He liked to take care of the family, the company and people.. Gokongwei's youngest brother, JG chairman, James Go received 174,942 shares. But his great-grandfather Pedro Gotiaoco had built an agricultural trading company called Gotiaoco Hermanos, a prominent business in Cebu. 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. ADVERTISEMENT - CONTINUE READING BELOW Celebrity Updates With his money, Big John founded his cornstarch manufacturing company, Universal Corn Products, in 1954. We must compete not just with rhetoric and words. Among Gokongweis proudest achievements is JG Summits entry into the airline business, whose success he credits to his son. [5] He went to Xavier School for his first two years of high school. Portrait of John Gokongwei Jr. Photo: Handout from JG Summit Holdings Inc. Website. John Robinson Lim Gokongwei Jr. (traditional Chinese: ; simplified Chinese: ; pinyin: W Yhu; Peh-e-j: G Ek-hui; 11 August 1926 - 9 November 2019) was a Filipino businessman, investor, and philanthropist. The partnership with Calbee, however, ended five years later as Calbee suffered losses in the Philippine market. His eldest daughter, Robina, heads the operations of Robinsons Retail Holdings, Inc. (she owns Robinsons Malls), as the company's COO since 2002. I was only six months old when our father died. This cookie is set by GDPR Cookie Consent plugin. Patrick recalled, I distinctly remember this discussion because my father was loudly trying to convince Mr. John not to do it anymore. Save my name, email, and website in this browser for the next time I comment. Family businesses (Fambiz) constitute anywhere from 80 to 90 percent of businesses in the Philippines, yet many are plagued with problems. John then pursued her for marriage for 4 years. John was about 23 or 24 and Elizabeth was 17 when they fell in love. Elizabeth Yus father owned a hardware store there. Be No. He taught us everything that we needed to know, said eldest Gokongwei grandchild Justin Pe yesterday in his eulogy for his grandfather. In the 1970s he lost a lawsuit to try to get on the board of competing food company San Miguel Corp., despite having bought enough shares to join the board. Gokongwei was born in China to John Gokongwei Sr. and Juanita Mrquez Lim. It has also provided the content and technology teachers and other stakeholders need to develop their skills as educators." 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. He learned that war is a great equalizer, but he bounced despite the difficult road, with his business conglomerate as one of the fixtures of the Philippine business environment. Analytical cookies are used to understand how visitors interact with the website. He then finished his last two years in Singapore. Top row: John, Elizabeth, and daughter Robina. [14], In December 2022, Gokongwei announced his resignation as President and CEO of Cebu Pacific. He had retired in 2016, leaving behind the day-to-day running of the family's businesses to his only son Lance Gokongwei. Banks seized their properties, and they fell into poverty. By the time the U.S. retook control of the Philippines, he had saved enough to travel to America for secondhand goodsused shoes, used clothing, used newspapers, any used remnantsto sell at a small storefront he rented in Cebu. I told him, Angkong, I was told to socialize more to not be so torpe and not be such a nerd. To which he replied: Id rather you be a nerd. Just goes to show how back then, and even now, being smart is truly the new sexy. 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. If a job is given to me, Ill do it, says Lance, now 49. But fambiz can succeed despite the odds, according to fambiz expert Dr. Queena N. Lee-Chua. What did they talk about in that last conversation? 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. We were in Rome, Italy then, it was just house coffee and tasted so bitter. Gokongwei married Elizabeth Yu in 1958 and had six children (one son and five daughters) Lisa, Robina, Lance, Faith, Hope and Marcia. After the war, Big John took it as a good opportunity to expand his trading business abroad. Some people have said: Part of the journey is the end.. 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. John always went for the best; he liked to take on challenges. 1! Angkong also always gave me stock advice. This site uses cookies. 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. For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use. 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. Until October John Gokongwei would participate in these executive committee meetings, but after a brief illness he stopped coming to the office. Gokongwei's only son, Lance, is its chief executive officer. When he died, Big John was the third-richest person in the Philippines, according to Forbes. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. However, following his fathers death, John and his family lost all their wealth. John Gokongwei was the son of a businessman who owned several movie theaters in the island province of Cebu. . 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. 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. He then asked me: You have girlfriend? He told me it was the least he could do for someone who had done so much for the Philippines. [15], In 2018, Gokongwei was named CEO of JG Summit. About
It includes companies such as snack food and drink producer Universal Robina, shopping centers Robinsons Malls, and everyone's favorite budget airline Cebu Pacific. None of the events that happened in our familys lives would have happened without you. 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. His remains will be at Heritage Park, Taguig City, until Thursday. John Gokongwei with eldest grandchild Justin back in the day. On his mothers side, his grandfather was the immigrant tycoon and Iloilo Chinese community leader Pedro Marquez Lim. He had been Executive Vice President of JGSHI and was elected President and Chief Operating Officer effective January 1, 2002. When he saw his grandfather, the boy asked why were his parents were making him work that summer job? He enjoys reading and exercising [37], and was a finisher in the 2009 New York Marathon [38]. I told him he didnt need to and that his expression of sympathy was already much appreciated by the family. [He's] somebody who created somethingit was the center of his life. Since then, Big John was unstoppable as he built one of the Philippines biggest business empires, the JG Summit. 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. That was part of the culture, so what can you complain about, he says. I try to put myself in his shoes, and I would do the same, says James. 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. I admired them as inspiring business heroes who are positive role models for their Confucian values, entrepreneurship and philanthropy. They were the victors at the time.. If not, just play around, play around! while all the nurses AND physicians were there surrounding him. Privacy
Why do I almost always write about my life? These cookies ensure basic functionalities and security features of the website, anonymously. He is also survived by wife Elizabeth and daughters Lisa, Robina, Faith, Hope and Marcia. The list was composed of four philanthropists each from 13 selected countries and territories in Asia. 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. It introduced Blend 45, its own brand of instant coffee. His siblings then joined his business. Lucio Tan had to sell his mill to us, says Gokongwei of his established rival. 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 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. He attempted a $1 billion takeover of United Industrial Corporation Ltd (UIC), a property giant from Singapore of which he owned in excess of 30%. Not only did he create wealth for himself and his family, but he has also provided jobs for Filipinos as well. His strong resolve towards life made him successful and become one of the richest men in the. He wants to be a food chemist. In 1939 and at the age of 34, John died after contracting typhoid, leaving behind a 31-year-old widow and six childrenand unfortunately, alarmed creditors worried that his theater chain would fail without him. I love seeing them, entertaining them (and myself), taking them to places they enjoy visiting. The company merged with Universal Robina Corporation. President and CEO of JG Summit Holdings Inc. Chairman of the Gokongwei Brothers Foundation, Inc. He has holdings in telecommunications, financial services, petrochemicals, power generation, aviation and live stock . Mariing kinondena ng pamahalaan ng Pilipinas ang panibagong ballistic missile test na ginawa ng North Korea. . It offered a detailed account of Johns life and struggles. Taipan John Gokongwei continues to shower his family with his generosity three years after passing away at the age of 93. Read Online John L Gokongwei Jr The Path Of Entrepreneurship . A A. This was very tiring, but he endured it all to send his siblings to school in China. He supported mainly educational charities through the familys Gokongwei Brothers Foundation. Her name was taken from her father's second name, Robinson. These days she fusses after him. Thus, at 13, John began peddling items from his bicycle, on the streets of Cebu. 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. Born in Fujian, China, and raised in . JG Summit grew to $135 million by 1993, when it listed on the Philippine Stock Exchange, and then $1.8 billion by its 50th anniversary in 2007. Petitioner Gokongwei, a stockholder of the San Miguel Corporation, filed a declaration of. That was one week before he passed. I was really shocked that someone who was 78 could beat me in swimming. 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). 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 . Traffic source, etc banks seized their properties, and website in this browser for the time... 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