Gokongwei's youngest brother, JG chairman, James Go received 174,942 shares. He and my grandmother would always winthese two old fellows who, in their late 70s back then, were still very, very sharp. The family discovered that much of the business was built on debt. Petitioner Gokongwei, a stockholder of the San Miguel Corporation, filed a declaration of. . James got accepted to Massachusetts Institute of Technology and earned a degree in chemical engineering. He never gave up in what he believed in, always took risks, and continuously learned new things. 'Old Auntie', under his great-grandfather, Don Pedro Singson Gotiaoco, whose illegitimate son was also President Sergio Osmea. He has holdings in telecommunications, financial services, petrochemicals, power generation, aviation and live stock . Entrepreneur, philanthropist, and nation-builder John L. Gokongwei passed away on November 9, 2019, at the age of 93. Why do I almost always write about my life? Eventually, his company launched several businesses, including Universal Corn Products (now Universal Robina Corporation), Consolidated Food Corporation (later CFC Corporation), JG Summit Holdings, Cebu Pacific Air, Digital Telecommunications Philippines, and Robinsons Retail. John initially served the basic-needs market, with his branded snacks, sugar, noodles, beverages, poultry, hotels, condos, and clothing. On this Wikipedia the language links are at the top of the page across from the article title. This cookie is set by GDPR Cookie Consent plugin. It's hard to imagine many consumer products and services today without thinking of John Gokongwei Jr. Gokongwei married Elizabeth Yu in 1958 and had six children (one son and five daughters) Lisa, Robina, Lance, Faith, Hope and Marcia. When your age hits 70 sometimes you feel totally ignorant, no matter how intelligent you used to be. Lisa is in charge of Summit Media. My Angkongs journey was a journey of pure grit. 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. When I asked him what are the good stocks to invest my earnings in, he answered: RLC for the Philippines and P&G for overseas. (RLC is Robinsons Land Corp.). He is survived by his wife, six children and at least 12 grandchildren. Fortunately, he found the light at the end of the tunnel when China Banks Dr. Albino Sycip gave him a P500,000 loan. I was nine then, and hed make beating me look so damn easy. She used to be in the corporate world for a decade but followed her heart and became a writer. 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. John Gokongwei Jr., owner of Cebu Pacific, died on Nov. 9 at the age of 93, according to a statement from the airline. 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. John Gokongwei Jr. died on November 9, 2019. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Never stop learning And always look back and be grateful to where you came from. I used to visit Angkong a lot at the office when i was still in school. The company merged with Universal Robina Corporation. John donated 200 million pesos to an undergraduate management school in 2002. This site uses cookies. His father, John Jr., established JG Summit Holdings Inc., while his mother, Elizabeth, was a founding member of Robinsons Department Store. His father left while his mother and five siblings returned to China. https://investment.fwd.com.ph/experts/asia-s-business-leaders-and-what-we-can-learn-from-them. 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. 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. Today the airline dominates the Philippines domestic market. In March 1996, his low-cost airline company, Cebu Pacific Air was launched. In 2013, his company bought the stake of San Miguel Corporation in Meralco, the largest power distributor in the country, for close to $1.8 billion. That there was more than enough money and that they should rest already that was his argument. 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. 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. He quickly disagreed, saying: No, were different. This story appears in the Septemper 12, 2016 issue of Forbes Asia. We not just the family but the Philippines have just lost a great man.. It has also provided the content and technology teachers and other stakeholders need to develop their skills as educators." 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 . Gokongwei stated that entrepreneurship is a way out of poverty. The Gokongwei family even has also donated buildings and money to big universities here in the country and part of the proceeds of this book will go to a charitable institution. Born in Fujian, China, and raised in . John always went for the best; he liked to take on challenges. This story appears in the Septemper 12, 2016 issue of Forbes Asia. [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]. In my case, I have trained and carefully prepared my son Lance to be a good successor. 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. 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. This, later on, became Universal Robina Corporation (URC) when it ventured into other finished goods. In Lances mind, too, there were certain expectations., Earlier this year newly elected Philippine President Rodrigo Duterte floated the idea of Lance taking a post in his administration. 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). URC became one of the leading food and beverage companies in the country. In March 1996, Cebu Pacific Air began operations. I was only six months old when our father died. John then launched a corn milling plant, named Universal Corn Products, and started producing corn starch and glucose. We need hard work, perseverance, innovation, courage, and total dedication. Lance Yu Gokongwei (born 23 November 1966) is President and CEO of JG Summit Holdings Inc., one of the largest Filipino conglomerates,[1] with interests in food (Universal Robina), air transport (Cebu Pacific), real estate and property development (Robinsons Land Corp.), banking (Robinsons Bank), and petrochemicals (JG Summit Olefins Corp.)[1][2] He also has a stake in Robinsons Retail, one of Philippines' largest retailers, which was started by his father as a department store in 1980. 8List Editor. He supported mainly educational charities through the familys Gokongwei Brothers Foundation. I said, If they can make a lot of money, so can I. He hired operators, the beginnings of Universal Robina. Because once when I lived in the US, I came across a wheelchair-bound columnist who wrote about his life. He taught us everything that we needed to know, like not bragging about what you have, ABSOLUTELY NO ENTITLEMENT, showing me how to ride a bike, teaching me how to drink coffee and it has to be Great Taste and for the single ones like me, what I needed to know about playing around. Present during the visit were Executive Secretary Salvador Medialdea and Senators Christopher Lawrence "Bong" Go and Aquilino "Koko" Pimentel III. [6] damages with prayer for a preliminary injunction, against the majority of the members of the Board of. 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.). This week brought the passing of John Gokongwei Jr. 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. And James, at 77, is also stepping away, triggering a three-year process in which Lance will rise to chairman and CEO. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. ), As they prepare for the leadership shift, Robinas eldest son, a senior studying chemistry at New York University, will likely be the first member of the third generation to join. November 11, 2019. Wake details are private, to be shared with family and friends, the children said. I was really shocked that someone who was 78 could beat me in swimming. But please do guide me when I decide to play around, not at work of course. Contact Us 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. John Gokongwei I'm from Cebu. 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. Maybe Aboitiz is going to the third. (Arguably, its already in the fifth.). Among Gokongweis proudest achievements is JG Summits entry into the airline business, whose success he credits to his son. Powered by. His great-grandfather, Pedro Gotiaoco, was one of the richest men in Cebu in the 19th century. According to a later Manila Times recap, [T]errorized by Estradas wrath, the Gokongweis were forced to apologize to stop him and soon after sold the newspaper in a deal allegedly orchestrated by Estrada. Lance Gokongwei is the president and chief operating officer of JG Summit Holdings. In 1977, Gokongwei earned his Master of Business Administration from De La Salle University. Not only did he create wealth for himself and his family, but he has also provided jobs for Filipinos as well. Robina Gokongwei-Pe, the eldest daughter, runs Robinsons Retail Holdings, the second-largest retailer in the Philippines. He soon realized he could do more if he had a bicycle. 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. John's great-grandfather, Pedro Gotiaoco, was among the original rags-to-riches stories in the Philippines. He told me it was the least he could do for someone who had done so much for the Philippines. Malacaang on Sunday expressed its deep condolences to the Gokongwei family. When he turned 80, Mr. John blazed a trail in philanthropy when he announced on his birthday that he was donating half of his personal holdings in JG Summit to establish the Gokongwei Brothers Foundation, the philanthropic arm of the Gokongwei Group. 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. When Angkong needed a pillow to lay his arm on at the hospital, my Auntie Marcia thought of bringing that pillow. Life was great for the Gotiaoco family until the Great Depression came, and their family fell into debt. He came from Fujian province in China and owned a huge trading company, Gotiaoco Hermanos. The list was composed of four philanthropists each from 13 selected countries and territories in Asia. Gokongwei was the founder and chairman of JG Summit Holdings, which owns . John and Elizabeth got married in 1958. He had been Executive Vice President of JGSHI and was elected President and Chief Operating Officer effective January 1, 2002. [7] In 2004, the company introduced C2, a ready-to-drink tea that went head-to-head with foreign cola companies that dominated the beverage sector in the Philippines. The Gokongwei Family in Cebu, 1938. The following day (November 16), Elizabeth died, at the age of 85. These cookies ensure basic functionalities and security features of the website, anonymously. 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. His great-grandfather, Chinese immigration Pedro Gotiaco, rose from being an oil peddler to become proprietor of Gotiaco Hermanos, then the largest enterprise in trading and insurance in Cebu. We need to slug it out." In 2010, the airline went through a huge re-fleeting operation. Until October John Gokongwei would participate in these executive committee meetings, but after a brief illness he stopped coming to the office. 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. whatever it takes. He prepared by reading Nuts!, a book by former Southwest Airlines CEO Herb Kelleher. Follow @wilsonleeflores on Instagram, Twitter, Facebook. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Once, he asked me: How are you, hows your work? I replied to him that it was very entertaining., On his unforgettable memories, Justin reminisced, Angkong was the first person to teach me how to ride a bike at when I was seven and he was also the first person to teach me to drink coffee when I was 15. *The quote is a wink to the Tony Stark moment with his daughter in the film Avengers: Endgame. In 2016, Gokongwei wrote a book "Lessons from Dad, John Gokongwei Jr."[23] He also contributed to an anthology titled "Letters to My Children".[24]. Tweet John Gokongwei Jr. When I saw my wife for the first time, she was 17 and I was 23 or 24, says Gokongwei. When he died, Big John was the third-richest person in the Philippines, according to Forbes. His remains will be at Heritage Park, Taguig City, until Thursday. The Bachelor of Science in Management major in Communications Technology Management Program is a 4 year degree (including 3 summer semesters) program of the John Gokongwei School of Management. A book by former Southwest Airlines CEO Herb Kelleher went through a huge company... The Tony Stark moment with his daughter in the fifth. ) Gokongwei would participate in these Executive meetings! If they can make a lot at the age of 85 siblings returned to China has also provided jobs Filipinos! Damn easy went for the best ; he liked to take on challenges need hard,! 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