In March 1996, his low-cost airline company, Cebu Pacific Air was launched. He was great, very human and inspiring. Following World War II, in 1946, John Gokongwei launched his first company, Amasia Trading. Entrepreneur, philanthropist, and nation-builder John L. Gokongwei passed away on November 9, 2019, at the age of 93. None of the events that happened in our familys lives would have happened without you. Together, the siblings worked in their fathers family business, American-Asia Trading. As for himself, he says its time for him to enjoy life and focus on philanthropy. Lance is the president and CEO of JG Summit. This cookie is set by GDPR Cookie Consent plugin. I admired them as inspiring business heroes who are positive role models for their Confucian values, entrepreneurship and philanthropy. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". [13] Gokongwei's great-grandfather was a half brother of Gotianun's grandfather. Maybe Aboitiz is going to the third. (Arguably, its already in the fifth.). [15] Exactly one week after his death, his widow Elizabeth Yu Gokongwei died at the age of 85.[16][17]. 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. 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 . So, he saved up and was able to reach nearby towns to sell it. We were in Rome, Italy then, it was just house coffee and tasted so bitter. At the time, it was the nation's worst air disaster. Gokongwei's only son, Lance, is president. But opting out of some of these cookies may affect your browsing experience. She was 85. 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. [19] On its 30th year, the foundation's goal is to participate in the learning journey of 10,000 teachers and one million learners by 2025. 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. [7], Lance Gokongwei started his career in the family business as a management trainee at Universal Robina Corp.[8] He sold Jack n Jill snacks to supermarkets, groceries, and sari-sari stores. . Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. 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 attempted a $1 billion takeover of United Industrial Corporation Ltd (UIC), a property giant from Singapore of which he owned in excess of 30%. 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. 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! When I saw my wife for the first time, she was 17 and I was 23 or 24, says Gokongwei. Doing business was easier [than chasing her down].. Today the airline dominates the Philippines domestic market. This story appears in the Septemper 12, 2016 issue of Forbes Asia. [10], In 2013, Gokongwei became chief executive of Universal Robina. This, later on, became Universal Robina Corporation (URC) when it ventured into other finished goods. Home Stories John Gokongweis Life & Success Story: From Selling Peanuts To Building A Business Empire. Wake details are private, to be shared with family and friends, the children said. 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. 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. He has holdings in telecommunications, financial services, petrochemicals, power generation, aviation and live stock . He was asking me about the sales of Great Taste Coffee and I said, Were up based on recent data. He had a very big smile. Copyright 2023. However, following his fathers death, John and his family lost all their wealth. 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. He prepared by reading Nuts!, a book by former Southwest Airlines CEO Herb Kelleher. We must compete not just with rhetoric and words. John Gokongwei I'm from Cebu. [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. He supported mainly educational charities through the familys Gokongwei Brothers Foundation. He and his family thus focused on manufacturing. Ive come to love and enjoy drinking coffee ever since.. These days she fusses after him. Another lesson in business: Always be humble, Mr. John admonished. He and my grandmother would always winthese two old fellows who, in their late 70s back then, were still very, very sharp. Gokongwei stated that entrepreneurship is a way out of poverty. 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. He decided to shut down in favor of cornstarch production, at which another precocious operator in Cebu was doing well. Ten years later, he completed Harvard Business Schools 14-week advanced management program. I'm Cebuano. John died in 2019. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. CEBUANO tycoon John Gokongwei Jr. died on Saturday night, Nov. 9, 2019. Life was great for the Gotiaoco family until the Great Depression came, and their family fell into debt. Thus, in his teens, he began trading on the streets of Cebu. 8List Editor. John was 13 years old, the eldest of six siblings, so he felt the big responsibility. John Gokongwei Through his efforts, countless Lasallian students and scholars were . [12] His only son, Lance, currently leads the group as president and CEO of JG Summit. Advertise With Us. Fortunately, he found the light at the end of the tunnel when China Banks Dr. Albino Sycip gave him a P500,000 loan. Lance Y. Gokongwei is the President and Chief Operating Officer of JGSHI. 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. Lucio Tan had to sell his mill to us, says Gokongwei of his established rival. Within six months, he says, he managed to drive the price of cornstarch down by 50%. 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. He also owned Robinsons Retail Holdings, Inc. and Robinsons Land Corporation. That was part of the culture, so what can you complain about, he says. Her twin sisters, Faith and Hope, each have management roles there. Privacy 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. Tycoon John Gokongwei Jr., who is turning 90 by August next year, has made his mark in corporate Philippines as the founder of JG Summit Holdings, a conglomerate seen to have benefited and yet to . - A A +. He graduated valedictorian. But hed always remind me that one should not worry about defeat. Gokongwei married Elizabeth Yu in 1958 and had six children (one son and five daughters) Lisa, Robina, Lance, Faith, Hope and Marcia. We need hard work, perseverance, innovation, courage, and total dedication. John always went for the best; he liked to take on challenges. One day he noticed that my grades were slipping. John Gokongwei was married to Elizabeth Yu from 1958 until his death in 2019. Lance was 28 years old, a University of Pennsylvania graduate whod worked at an American bank and done a few job rotations at JG Summit, when he says his father approached him with news hed bought four aircraft and asked him to run their new airline business. Pedro Gotiaoco was a peddler who settled in Cebu after migrating from Fujian, China. 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. [15], In 2018, Gokongwei was named CEO of JG Summit. [4], Gokongwei was born in Manila, as the second of six children. 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. UIC controls Singapore Land, one of the biggest property landlords in Singapore. He tried to ask for a loan from several banks but to no avail. In addition, Gokongwei named publicly-listed company Universal Robina Corporation after her. 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. While part of Gokongweis office at the Robinsons Equitable Tower in the Ortigas district of Pasig showcases photographs of him with the likes of former president Benigno Aquino III and Imelda Marcos, Gokongwei says hes stayed away from political entanglements. We need to slug it out." James got accepted to Massachusetts Institute of Technology and earned a degree in chemical engineering. 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. I love seeing them, entertaining them (and myself), taking them to places they enjoy visiting. He was a second cousin once removed of Andrew Gotianun Sr., the founder of Filinvest Development Corporation. Gokongwei's youngest brother, JG chairman, James Go received 174,942 shares. This cookie is set by GDPR Cookie Consent plugin. [5] He went to Xavier School for his first two years of high school. This week brought the passing of John Gokongwei Jr. He built his first company, Amasia Trading, which sold and bought goods in the United States, Manila, and the Visayan region. The movie theaters, cars and the big house were all seized by the banks. He took a loan of 500 thousand pesos from Albino Sycip, who was the chairman of China Bank back then, and Dee K. Chiong. This story appears in the Septemper 12, 2016 issue of Forbes Asia. 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. John Gokongwei also tried to acquire the Singapore-based property company United Industrial Corporation Ltd. (UIC) for $1 billion, where he had over 30% of stakes. In 1957 Gokongweis business was getting bogged down by import controls that made it difficult to obtain licenses. All Rights Reserved. [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. It's hard to imagine many consumer products and services today without thinking of John Gokongwei Jr. Gokongwei (pictured) was survived by his wife of 61 years, Elizabeth, and his children Robina, Lance (president and chief executive of JG Summit), Lisa, Faith, Hope and Marcia. 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. The Lasallian Community is saddened by. President and CEO of JG Summit Holdings Inc. Chairman of the Gokongwei Brothers Foundation, Inc. He soon realized he could do more if he had a bicycle. 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. Competitive swimming was not one of my strengths and so I switched to golf and played with my Dad, whom I easily beat. He launched his first company, Amasia Trading, in 1946. Hes not there, but hes there, says Robina. The line is repeated by Tonythis time as hologramto his daughter at his funeral. Gokongwei was born in Manila, as the second of six children. Were not there yet, like Alibaba. 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. Success Story of John Gokongwei. The Gokongwei family, listed by Forbes Magazine as one of the country's wealthiest, officially launched the Gokongwei Group master brand that will embrace all the diverse businesses in their portfolio which includes some of the Philippines' top corporations. In 1958, John and Elizabeth got married and had six beautiful children: Robina, Lance, Lisa, twins Faith, Hope, and Marcia. Taipan John Gokongwei continues to shower his family with his generosity three years after passing away at the age of 93. The couple had six children: their son, Lance, and their five daughters, Lisa, Robina, Faith, Hope, and Marcia. After the war, Big John took it as a good opportunity to expand his trading business abroad. 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. 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. So at age 15, having dropped out of school to work, he started selling goods like soaps and tires at the local market. He wants to create more snack flavors., Gokongwei says he tells his children that he wants the company to exist for at least another 50 years. 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.. Never stop learning And always look back and be grateful to where you came from. Tweet John Gokongwei Jr. Love your family. Still, its hard to shed old habits. 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. By clicking Accept, you consent to the use of ALL the cookies. 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. The company was named Universal Corn Products (which later evolved into Universal Robina Corporation). 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. Terms All the Gokongwei children work actively for their family business group. Front row: Daughters Faith and Marcia Photo by FROM T&C PH. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. "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. John then pursued her for marriage for 4 years. nullity of amended by-laws, cancellation of certificate of filing of amended by- laws, injunction and. 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. [He's] somebody who created somethingit was the center of his life. 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. 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. As is the usual story, he became a prominent businessman. His father died when Gokongwei was only age 13. He came from Fujian province in China and owned a huge trading company, Gotiaoco Hermanos. 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. John Gokongwei Jr., owner of Cebu Pacific, died on Nov. 9 at the age of 93, according to a statement from the airline. That there was more than enough money and that they should rest already that was his argument. 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. ), 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. Love your country. 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 . They were the victors at the time.. 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 was a Filipino billionaire businessman and philanthropist, best known as the founder and former chairman of JG Summit. His funeral was held on November 15. John Gokongwei's Nine Rules of Success. Founded in 1957 by patriarch John Gokongwei Jr., the 65 year-old Gokongwei . 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. The cookie is used to store the user consent for the cookies in the category "Analytics". 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. 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. 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. Big John found an interest in the cornstarch business but didnt have enough funds. 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. He never gave up in what he believed in, always took risks, and continuously learned new things. You give birth to it, you nurture it, you raise it through problems, crisis, good times, bad times. A total of 384,874 shares in JG Summit were distributed to Gokongwei's brother, children and nephews "as a result of estate settlement.". 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). The book also included the Nine Rules of achieving success in business that John had followed. When John was 13 years old, his father died suddenly due to typhoid fever. "Our beloved husband, father and grandfather . A business partner of ours from Indonesia asked about the wake details and interment and told me he wanted to fly in to visit. 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. 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. 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. The Gokongwei family at one of their family gatherings in the 1980s. [9], In the late 1990s, Gokongwei became general manager of Universal Robina's branded food business, where he led the development of beverages. Subscribe to Forbes Asia. In the early 1950s, John started importing cigarettes and whiskey, too. I finally joined the business four months ago not knowing he'd pass away so soon. At the age of 17, Big John rediscovered his familys love for trading and expanded his business. I told him he didnt need to and that his expression of sympathy was already much appreciated by the family. By 1957, John realized that trading would not earn him much profits. November 11, 2019. Petitioner Gokongwei, a stockholder of the San Miguel Corporation, filed a declaration of. It was sufficiently successful that another production line was required to meet demand. 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. The cookies is used to store the user consent for the cookies in the category "Necessary". Their love gifted them with six children: Robina, Lance, Lisa, twins Faith and Hope, and Marcia. Thanks for your feedback to [emailprotected]. I said, If they can make a lot of money, so can I. He hired operators, the beginnings of Universal Robina. 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.. He knows hell be here, says Robina. 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 . So I switched to golf and played with my Dad, whom I easily.. Himself, he managed to drive the price of cornstarch production, at which another precocious operator in was! 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Asking if he had a bicycle management program when Gokongwei was named Universal Corn Products ( which evolved... After her, she was 17 and I was 23 or 24, says Gokongwei company Cebu! Story: from Selling Peanuts to Building a business Empire story, he saved up and was able to nearby! Owned a huge trading company, Amasia trading you think I can still work up to!! In favor of cornstarch down by import controls that made it difficult to obtain licenses marketing campaigns prepared son... The War, big John rediscovered john gokongwei grandchildren familys love for trading and expanded his business,. Joined the business four months ago not knowing he 'd pass away so soon, Italy then, it the! To slug it out. & quot ; our beloved husband, father and grandfather family... Cornstarch down by 50 % that his expression of sympathy was already much by!, says Gokongwei of his life Marcia Photo by from T & ;. Perseverance, innovation, courage, and total dedication it through problems crisis! 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