He supported mainly educational charities through the familys Gokongwei Brothers Foundation. President and CEO of JG Summit Holdings Inc. Chairman of the Gokongwei Brothers Foundation, Inc. ADVERTISEMENT - CONTINUE READING BELOW Exactly a week later, November 16, 2019, Elizabeth also died. But please do guide me when I decide to play around, not at work of course. Gokongwei used his bicycle to trade goods through checkpoints across towns. 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. The cookie is used to store the user consent for the cookies in the category "Performance". But commerce in the Philippines is rarely without domestic complications. Never stop learning And always look back and be grateful to where you came from. She used to be in the corporate world for a decade but followed her heart and became a writer. Sign up now! 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. Johns great-grandfather, who was a trader from China, was one of the Philippines's most influential Chinese Filipinos. I admired them as inspiring business heroes who are positive role models for their Confucian values, entrepreneurship and philanthropy. After the war, Big John took it as a good opportunity to expand his trading business abroad. Her twin sisters, Faith and Hope, each have management roles there. It introduced Blend 45, its own brand of instant coffee. I was then still working for Shell Philippines. The company merged with Universal Robina Corporation. He and my grandmother would always winthese two old fellows who, in their late 70s back then, were still very, very sharp. We must compete not just with rhetoric and words. 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. 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. Maybe Aboitiz is going to the third. (Arguably, its already in the fifth.). [10], In 2013, Gokongwei became chief executive of Universal Robina. On dating, Angkong actually asked me: Do you have a girlfriend? I replied: No. He then advised me: Alright, play around, play around., What were Gokongweis pieces of advice to his grandson? By 1957, John realized that trading would not earn him much profits. I told him he didnt need to and that his expression of sympathy was already much appreciated by the family. 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. 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. They were the victors at the time.. Careers
We were left with practically nothing, except a good name, says Gokongwei. This cookie is set by GDPR Cookie Consent plugin. The company was later renamed Universal Robina Corporation. For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use. He queried in Hokkien: Do you think I can still work up to 90? Many people dream of retiring early, while this hardworking entrepreneur was asking if he could still work up to 90! We need to slug it out." He quickly disagreed, saying: No, were different. 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. Even now, James has piles of ramen noodles, cookies and crackers in his office that he samples himself, sending word when something tastes rancid.. During these difficult years, he initially supported his family by peddling items along the streets of Cebu from his bicycle. 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. The cornstarch plant he started in 1957 has grown into Universal Robina Corporation, one of the country's largest food and beverage. From left to right: Henry, Johnson, Juanita, Edward, John Sr., John Jr., and Lily Christina. His funeral was held on November 15. [10][11] All his children play an active role in the Gokongwei group. 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. His eldest daughter, Robina, is the president of the family's Robinson Retail Holdings, Philippines' second largest multi-format retailer. Portrait of John Gokongwei Jr. Photo: Handout from JG Summit Holdings Inc. Website. . She was 85. And James, at 77, is also stepping away, triggering a three-year process in which Lance will rise to chairman and CEO. The Lasallian Community is saddened by. 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. Around then Gokongwei advised brother James, 13 years younger and a gifted student, to go study in America, and hed foot the bill. I couldnt have said it any better. This included humility, never acting like hes entitled, andbecause hes singleto play around. John and Elizabeth got married in 1958. 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. 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. I was nine then, and hed make beating me look so damn easy. . Since Day 1 of his wake, Ive always been asked two questions: the first one is where the Chippy pillow came from by the way it is a pillow and not a blanket or a family size Chippy pack and the second is about my Angkongs advice to me, which was to play around.. Robina Gokongwei-Pe, the eldest daughter, runs Robinsons Retail Holdings, the second-largest retailer in the Philippines. With his money, Big John founded his cornstarch manufacturing company, Universal Corn Products, in 1954. It was a sad moment and there was a flood of messages coming in, condoling with us. Already, controlling shares in Summit are being transferred to the second generation. 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. The discussion ended with that, no resolution, just an exchange of positions and shortly after Mr. John left the room my father sat down with me, had a few more glasses of whiskey and told me that I have to remember that at one point it would no longer be about the money.. John Gokongwei 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. [citation needed], In 2020, Gokongwei was named a member of board of the Global Reporting Initiative (GRI), representing the business enterprise sector. 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 . I told my mother shes the one Im going to get married to, so I chased her for four years. Opinions expressed by Forbes Contributors are their own. Were not there yet, like Alibaba. Then came the Japanese occupation in 1942. [15], In 2018, Gokongwei was named CEO of JG Summit. On this Wikipedia the language links are at the top of the page across from the article title. John always went for the best; he liked to take on challenges. Andrew Gotianun Sr. was a distant relative of John. The cookies is used to store the user consent for the cookies in the category "Necessary". His great-grandfather, Pedro Gotiaoco, was one of the richest men in Cebu in the 19th century. 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. His father, John Jr., established JG Summit Holdings Inc., while his mother, Elizabeth, was a founding member of Robinsons Department Store. When John was 13 years old, his father died suddenly due to typhoid fever. Life was great for the Gotiaoco family until the Great Depression came, and their family fell into debt. In 2010, the airline underwent major refleeting with a $3 billion order with Airbus. Using a small boat, he would trade goods from Cebu to Manila and vice versa. At the age of 17, Big John rediscovered his familys love for trading and expanded his business. [17] As a result, its income and revenues fell. This story appears in the Septemper 12, 2016 issue of Forbes Asia. Lance followed his fathers pattern: He recruited operating talent. Still, its hard to shed old habits. 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. 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. Founded in 1957 by patriarch John Gokongwei Jr., the 65 year-old Gokongwei . This story appears in the Septemper 12, 2016 issue of Forbes Asia. 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. Gokongwei was the founder and chairman of JG Summit Holdings, which owns . If not, just play around, play around! while all the nurses AND physicians were there surrounding him. 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. 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.. This was very tiring, but he endured it all to send his siblings to school in China. Gokongwei married Mary Joyce "Jay" Leong in a wedding ceremony in Hawaii in 2000. 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. 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. In 1961, he established Consolidated Food Corporation (later known as CFC Corporation, which later merged with Universal Robina Corporation), which launched its instant coffee brand Blend 45. He is also survived by wife Elizabeth and daughters Lisa, Robina, Faith, Hope and Marcia. He recalls bowing to the imperial soldiers. Home Stories John Gokongweis Life & Success Story: From Selling Peanuts To Building A Business Empire. damages with prayer for a preliminary injunction, against the majority of the members of the Board of. Thus, in his teens, he began trading on the streets of Cebu. John Gokongwei is a Chinese Filipino businessman with holdings in telecommunications, financial services, petrochemicals, power generation, aviation and live stock farming, financial services, petrochemicals, power generation, aviation and live stock farming/ He is the chairman of JG Summit Holdings, one of the largest conglomerates in the Philippines. His father died when Gokongwei was only age 13. Thanks for your feedback to [emailprotected]. Though he belonged to an affluent trading family, he lost all his wealth after his fathers death. All Rights Reserved. You also have the option to opt-out of these cookies. His inspiring story from riches to rags to riches is something that we can learn from. When he died, Big John was the third-richest person in the Philippines, according to Forbes. That was one week before he passed. Tweet John Gokongwei Jr. Love your family. Khanser's book also enumerated the Nine Rules of business success[8] that Gokongwei followed since he was still a young businessman. His businesses are now managed by his six children and his brother, James. This cookie is set by GDPR Cookie Consent plugin. Yesterday morning, Friday, at Heritage Park in Taguig City, Justin Pe paid his last respects to his departed grandfather, the industrialist John Gokongwei Jr. with a heartfelt eulogy both touching and funny. 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. 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. [5] He went to Xavier School for his first two years of high school. From ages 17 to 19, he used a wooden boat to carry his goods to Dalahican, Lucena, and then carried them to Manila by truck. Gokongwei often has his pants pockets stuffed with peanuts, his favorite snack, and is known to leave a trail of shells. This, later on, became Universal Robina Corporation (URC) when it ventured into other finished goods. In March 1996, Cebu Pacific Air began operations. Under Big Johns leadership, he launched Universal Corn Products (now Universal Robina Corporation), Consolidated Food Corporation (later CFC Corporation), JG Summit Holdings, Cebu Pacific Air, Robinson Retail Holdings, and more. [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. Malacaang on Sunday expressed its deep condolences to the Gokongwei family. I often visited my Angkong to play mahjong, along with my grandmother and cousin Therese. But fambiz can succeed despite the odds, according to fambiz expert Dr. Queena N. Lee-Chua. James, Johns brother, is the COO and chairman of the company. I recall that 13 years ago, in 2006, he invited me to dinner a week before his 80th birthday and casually asked a question that almost made me fall off my chair. 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.). [7] The following year, he partnered with Japan's Calbee and France's Danone for potato chips and beverages respectively. 8List Editor. 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.). Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We were in Rome, Italy then, it was just house coffee and tasted so bitter. [14], In December 2022, Gokongwei announced his resignation as President and CEO of Cebu Pacific. I eventually entered the family business in July. 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. CEBUANO tycoon John Gokongwei Jr. died on Saturday night, Nov. 9, 2019. He took a loan of 500 thousand pesos from Albino Sycip, who was the chairman of China Bank back then, and Dee K. Chiong. It was sufficiently successful that another production line was required to meet demand. As the business morphed in size and scope, the brothers found their ways complementary and the payoff substantial. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. 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. In March 1996, his low-cost airline company, Cebu Pacific Air was launched. JG Summits legend is well known among the firms 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 of movie theaters. On Gokongweis pioneering heavy industry project of petrochemicals for the Philippines, Go said: One of our guests last night found out that I was handling petrochemicals and told me this was Mr. Johns baby and he was very proud of it. Patrick recalled, I distinctly remember this discussion because my father was loudly trying to convince Mr. John not to do it anymore. John Gokongwei Jr., fondly called Big John, passed away in 2019, but his legacy and business lessons continue to inspire other entrepreneurs. John Gokongwei was the son of a businessman who owned several movie theaters in the island province of Cebu. He wants to be a food chemist. 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. UIC controls Singapore Land, one of the biggest property landlords in Singapore. Fortunately, he found the light at the end of the tunnel when China Banks Dr. Albino Sycip gave him a P500,000 loan. Lance demurred in favor of his family destiny, now firmly set in motion by his uncles timetable. From 2003, his telecom company Digital Telecommunications Philippines spent nearly $800 million for its mobile carrier, Sun Cellular, which was the third-largest mobile operator in the Philippines at that time before selling to the PLDT group for $1.7 billion. Mass will be held on Friday. I was really shocked that someone who was 78 could beat me in swimming. 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. When he saw his grandfather, the boy asked why were his parents were making him work that summer job? Her name was taken from her father's second name, Robinson. Today the airline dominates the Philippines domestic market. This week brought the passing of John Gokongwei Jr. John Gokongwei Story started in 1927 in the Chinese province of Fujian where he was born. [6], In 1988, he graduated from the University of Pennsylvania with a double degree in Finance and Applied Science (summa cum laude). John', "John and Elizabeth Gokongwei: A Love Story Not Limited by Life on Earth", "Publishing Mogul Lisa Gokongwei-Cheng's Dream: To Own a Tiny Bookstore", "Daughter Fulfills Father's Wish, Heads Giant Robinsons Retail", "The Secret Father of President Sergio Osmea & Forebear of John Gokongwei, Jr., Gaisanos, Gotianuns", "John Gokongwei Jr.'s Widow Elizabeth Passes Away", "Elizabeth, Wife of 61 Years of John Gokongwei Jr., Dies One Day after His Burial", Lessons on Entrepreneurship from John Gokongwei's Life, John Gokongwei Speech to the 20th AD Congress, https://en.wikipedia.org/w/index.php?title=John_Gokongwei&oldid=1139477252, Articles containing Chinese-language text, Articles containing traditional Chinese-language text, Articles containing simplified Chinese-language text, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 15 February 2023, at 09:58. He is survived by his wife, six children and at least 12 grandchildren. . He then finished his last two years in Singapore. Established in 1992, the Gokongwei Brothers Foundation has for the past three decades "equipped learners with the tools they need to grow and develop as well-rounded members of the community. November 11, 2019. Elizabeth Yus father owned a hardware store there. Taipan John Gokongwei continues to shower his family with his generosity three years after passing away at the age of 93. Tweet John Gokongwei Jr. ADVERTISEMENT - CONTINUE READING BELOW Celebrity Updates "I salute him. In November 1990, Gokongwei incorporated JG Summit Holdings as a publicly listed holding company. He also owned Robinsons Retail Holdings, Inc. and Robinsons Land Corporation. 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. [5] He went to Xavier School for his first two years of high school. John Gokongwei Jr., owner of Cebu Pacific, died on Nov. 9 at the age of 93, according to a statement from the airline. He would also say: Keep working hard and just stay humble. He advised me to study hard. When I saw my wife for the first time, she was 17 and I was 23 or 24, says Gokongwei. Gokongwei stated that entrepreneurship is a way out of poverty. His patrilineal great-grandfather was Don Pedro Lee Gotiaoco, a wealthy Chinese immigrant tycoon who was once the largest taxpayer in Cebu. None of the events that happened in our familys lives would have happened without you. The book also included the Nine Rules of achieving success in business that John had followed. "Our beloved husband, father and grandfather . But hed always remind me that one should not worry about defeat. Johns father belonged to an affluent family from Cebu (in the Philippines), and his ancestors lived in China's Southern Fujian province. [7], On 29 August 2007, at the Ateneo de Manila University, Gokongwei's biography, John L. Gokongwei Jr.: The Path of Entrepreneurship, by the university's Dr. Marites A. Khanser, was launched, and it narrated the "riches-to-rags-to-riches" story of the tai-pan. . He always made sure that he worked hard and smart, giving 100% of his effort in everything he did. Wake details are private, to be shared with family and friends, the children said. He eventually unloaded his stake. 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. *The quote is a wink to the Tony Stark moment with his daughter in the film Avengers: Endgame. 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. 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. [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. We have to look for opportunities if we're going to survive the next 50 years. Currently, I work with the best and funniest team Ive ever met, and thanks to them, we made Angkong let out the biggest smile in the world before he finally passed on. You may have passed away, but your legacy will live on. John Gokongweis Life & Success Story: From Selling Peanuts To Building A Business Empire, timeless business lessons we can learn from Big John, 4 Tips On How To Start Your Own Takoyaki Business. In addition, Gokongwei named publicly-listed company Universal Robina Corporation after her. These cookies track visitors across websites and collect information to provide customized ads. The Palace expresses its deep condolences to the family, the surviving wife Elizabeth, children Lance, Robina, Lisa, Faith, Hope and Marcia, friends and colleagues of Mr. John Gokongwei, Jr.. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". On behalf of the third generation, and as your employee, we promise to keep your legacy shining brightly. She now writes for a number of websites and other online media publications. In 1977, Gokongwei earned his Master of Business Administration from De La Salle University. The PLDT group later bought the company for $1.7 billion. The movie theaters, cars and the big house were all seized by the banks. 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 . Low-Cost john gokongwei grandchildren company, Universal Corn Products, in December 2022, Gokongwei announced his resignation as and... Portrait of John Gokongwei Jr., and their family fell into debt his cornstarch manufacturing company, Corn. The movie theaters, cars and the payoff substantial practically nothing, except a opportunity! The COO and chairman of JG Summit Holdings, which owns already much appreciated the. Summit Holdings Inc. Website play around, play around., What were Gokongweis pieces of advice to his?! To be shared with family and friends, the Brothers found their ways complementary the! 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