. 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. Were not there yet, like Alibaba. We have to look for opportunities if were going to survive the next 50 years. It's his daughter's reply to his "I love you," after he tucksher in to bed. This cookie is set by GDPR Cookie Consent plugin. We must compete not just with rhetoric and words. [18], Gokongwei is the chairman of the Gokongwei Brothers Foundation, the largest private sector provider of STEM scholarships in the Philippines. 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). Well look at the financial statements for you, Lance on dad John Gokongwei: Why he always had food in his pocket and loved to fly cheap, /ancx/food-drink/recommended-bars/03/02/23/a-jazz-bar-just-opened-inside-makati-cinema-square, /ancx/culture/art/03/01/23/kids-of-top-artists-showcase-works-alongside-their-dads, /ancx/culture/spotlight/02/28/23/a-first-look-at-lazadas-new-cafeteria-style-office-in-bgc, /ancx/culture/spotlight/02/28/23/cebu-pacs-smile-mag-is-back-with-new-younger-design, /ancx/style/necessary-style/02/27/23/the-union-x-jordan-1-low-ajko-collab-is-a-crowd-pleaser. [3], Gokongwei attended the basic education department of University of San Carlos for primary school (graduating valedictorian) and high school.[4]. 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. He quickly disagreed, saying: No, were different. He was a second cousin once removed of Andrew Gotianun Sr., the founder of Filinvest Development Corporation. At the age of 14, he started selling peanuts in the streets to send money to his family in China. John Gokongwei Jr., fondly called Big John, passed away in 2019, but his legacy and business lessons continue to inspire other entrepreneurs. [13], "Our world seemed to turn upside-down," Gokongwei said, as he faced the greatest challenge of his career. His eldest daughter, Robina, is the president of the family's Robinson Retail Holdings, Philippines' second largest multi-format retailer. 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. See the events in life of John Gokongwei in Chronological Order, (Filipino Businessman, Investor, Founder and Chairman of JG Summit Holdings, Inc), https://www.thefamouspeople.com/profiles/john-gokongwei-21045.php. He had been Executive Vice President of JGSHI and was elected President and Chief Operating Officer effective January 1, 2002. His foundations bent is education. Mr. John Gokongwei, Jr. November 14, 2019. Robina Gokongwei-Pe, the eldest daughter, runs Robinsons Retail Holdings, the second-largest retailer in the Philippines. 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. In 2010, the airline underwent major refleeting with a $3 billion order with Airbus. The outsiders outsider: The more human side of John Gokongwei, John Gokongwei Jr.s life was a master class in showing true grit, Robina Pe to her father: Get some rest, dad. I left for Manila when I was 22. 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.. 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 always went for the best; he liked to take on challenges. Gokongwei was born in Manila, as the second of six children. The book also included the Nine Rules of achieving success in business that John had followed. As the business morphed in size and scope, the brothers found their ways complementary and the payoff substantial. 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. Success Story of John Gokongwei. [13] Gokongwei's great-grandfather was a half brother of Gotianun's grandfather. Left with no choice but to survive, young John had to start from scratch to build a better life for himself and his family. 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 said, Choose to be an entrepreneur because then you desire a life of adventure, endless challenge, and the opportunity to be your best self.. He took a loan of 500 thousand pesos from Albino Sycip, who was the chairman of China Bank back then, and Dee K. Chiong. 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. 8List Editor. 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. It does not store any personal data. We were in Rome, Italy then, it was just house coffee and tasted so bitter. We were left with practically nothing, except a good name, says Gokongwei. Founded in 1957 by patriarch John Gokongwei Jr., the 65 year-old Gokongwei . Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. 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. 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. 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. Gokongwei married Elizabeth Yu in 1958 and had six children (one son and five daughters) Lisa, Robina, Lance, Faith, Hope and Marcia. 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. 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. - A A +. From there Cebu Pacific was born. Ten years later, he completed Harvard Business Schools 14-week advanced management program. I admired and liked him very much. Yet despite his success as one of the Philippines' most successful businessmen, he stayed humble throughout. He is also survived by wife Elizabeth and daughters Lisa, Robina, Faith, Hope and Marcia. He soon realized he could do more if he had a bicycle. We not just the family but the Philippines have just lost a great man.. Front row: Daughters Faith and Marcia Photo by FROM T&C PH. The company merged with Universal Robina Corporation. On his mothers side, his grandfather was the immigrant tycoon and Iloilo Chinese community leader Pedro Marquez Lim. His grandfather was a wealthy immigrant from China who became the patriarch of a clan that now controls some of the largest companies in the Philippines. In 1961, John Gokongwei launched another company, Consolidated Food Corporation (later renamed CFC Corporation). The cookie is used to store the user consent for the cookies in the category "Other. 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 Gokongwei was married to Elizabeth Yu from 1958 until his death in 2019. In addition, Gokongwei named publicly-listed company Universal Robina Corporation after her. All the Gokongwei children work actively for their family business group. Lisa is in charge of Summit Media. Ive come to love and enjoy drinking coffee ever since.. nullity of amended by-laws, cancellation of certificate of filing of amended by- laws, injunction and. 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. During these difficult years, he initially supported his family by peddling items along the streets of Cebu from his bicycle. I said, If they can make a lot of money, so can I. He hired operators, the beginnings of Universal Robina. He always made sure that he worked hard and smart, giving 100% of his effort in everything he did. By 1957, John realized that trading would not earn him much profits. 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. Portrait of John Gokongwei Jr. Photo: Handout from JG Summit Holdings Inc. Website. At the age of 93, Big John died surrounded by his family at the Manila Doctors Hospital on November 9, 2019. President and CEO of JG Summit Holdings Inc. Chairman of the Gokongwei Brothers Foundation, Inc. He then showed me how to put some milk and sugar. Gotiaoco arrived in Cebu in the 1870s from Fujian province in China. 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. His conglomerate company JG Summit Holdings, Inc., had an extensive panoply of business and investment holdings across the Filipino economy, including . Justin replied: He said, Id rather you be a nerd. So at age 15, having dropped out of school to work, he started selling goods like soaps and tires at the local market. 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.). ADVERTISEMENT - CONTINUE READING BELOW Exactly a week later, November 16, 2019, Elizabeth also died. This, later on, became Universal Robina Corporation (URC) when it ventured into other finished goods. Gokongwei was born in China to John Gokongwei Sr. and Juanita Mrquez Lim. 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. In this collection of the most popular pieces from . 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. The PLDT group later bought the company for $1.7 billion. Their love gifted them with six children: Robina, Lance, Lisa, twins Faith and Hope, and Marcia. He is the only son of John Gokongwei, Jr., one of the pillars of Philippine business, who passed away on November 9, 2019. This story appears in the Septemper 12, 2016 issue of Forbes Asia. Elizabeth Yus father owned a hardware store there. Fortunately, he found the light at the end of the tunnel when China Banks Dr. Albino Sycip gave him a P500,000 loan. Elizabeth's father owned a hardware store back then. When I saw my wife for the first time, she was 17 and I was 23 or 24, says Gokongwei. But hed always remind me that one should not worry about defeat. He built his first company, Amasia Trading, which sold and bought goods in the United States, Manila, and the Visayan region. Another lesson in business: Always be humble, Mr. John admonished. 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. Through his efforts, countless Lasallian students and scholars were . This site uses cookies. Gokongwei often has his pants pockets stuffed with peanuts, his favorite snack, and is known to leave a trail of shells. In my case, I have trained and carefully prepared my son Lance to be a good successor. My fathers words suddenly made things clear, this was not about money anymore. 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. Until October John Gokongwei would participate in these executive committee meetings, but after a brief illness he stopped coming to the office. 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. Entrepreneur, philanthropist, and nation-builder John L. Gokongwei passed away on November 9, 2019, at the age of 93. The couple had six children: their son, Lance, and their five daughters, Lisa, Robina, Faith, Hope, and Marcia. When John was 13 years old, his father died suddenly due to typhoid fever. Top row: John, Elizabeth, and daughter Robina. Every Sunday afternoon John Gokongwei Jr.s six adult children and sometimes all 12 grandchildren gather at the patriarchs home in Pasig, a city in Metro Manila, for lunch and a session of tsismis (gossip). But just as when he first retired ten years before, at age 65, John could notdid notreally leave the drivers seat. John Gokongwei I'm from Cebu. I eventually entered the family business in July. [17] As a result, its income and revenues fell. 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. I couldnt have said it any better. John Gokongwei Jr. We have to look for opportunities if we're going to survive the next 50 years. [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]. But his great-grandfather Pedro Gotiaoco had built an agricultural trading company called Gotiaoco Hermanos, a prominent business in Cebu. [22] They have a daughter and a son. He told me it was the least he could do for someone who had done so much for the Philippines. These cookies track visitors across websites and collect information to provide customized ads. 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 was 13 years old, the eldest of six siblings, so he felt the big responsibility. [6] San Miguel Corporation was a big customer of theirs. 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. 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. Life was great for the Gotiaoco family until the Great Depression came, and their family fell into debt. . "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. John Gokongwei Jr. died on November 9, 2019. Gokongwei is married to Jay Leong. He also donated to various educational institutes and was the third-richest man in his country at the time of his death. His siblings then joined his business. Often, as a journalist, I am asked how can I be so calm and composed even when the worst things in life happen right in front Pinas, kinondena ballistic missile test ng North Korea. This cookie is set by GDPR Cookie Consent plugin. His father was a scion of a wealthy Cebu-based family with ancestral ties to China's Southern Fujian province. [14], Gokongwei died in Manila on 9 November 2019, at the age of 93. Johns family is now in charge of more than $20 billion of the total market capitalization for all the companies owned by them. By continuing to browse the site, you are agreeing to our use of cookies. 2023 ABS-CBN Corporation. Love your country. All Rights Reserved. He never gave up in what he believed in, always took risks, and continuously learned new things. It includes companies such as snack food and drink producer Universal Robina, shopping centers Robinsons Malls, and everyone's favorite budget airline Cebu Pacific. [14], In 2010, Cebu Pacific became the Philippines' largest airline. He was 93. At the age of 17, Big John rediscovered his familys love for trading and expanded his business. James, Johns brother, is the COO and chairman of the company. He taught us everything that we needed to know, said eldest Gokongwei grandchild Justin Pe yesterday in his eulogy for his grandfather. 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. Tycoon John Gokongwei Jr. (Photo courtesy of JG Summit Holding Inc.) MANILA-- Malacaang expressed its deep condolences to the family of tycoon John Gokongwei Jr. who passed away on Saturday night, remembering him for his "substantial contributions to the country's growth and development.". 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. This cookie is set by GDPR Cookie Consent plugin. This cookie is set by GDPR Cookie Consent plugin. His eldest daughter, Robina, heads the operations of Robinsons Retail Holdings, Inc. (she owns Robinsons Malls), as the company's COO since 2002. 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. His inspiring story from riches to rags to riches is something that we can learn from. When Angkong needed a pillow to lay his arm on at the hospital, my Auntie Marcia thought of bringing that pillow. John was only 20 back then. 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%. The airline is a subsidiary of JG Summit Holdings, controlled by the Gokongwei family - one of the richest Filipino- Chinesefamilies based in the Philippines. And James, at 77, is also stepping away, triggering a three-year process in which Lance will rise to chairman and CEO. 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. [5] He went to Xavier School for his first two years of high school. Lucio Tan had to sell his mill to us, says Gokongwei of his established rival. The company was later renamed Universal Robina Corporation. I used to visit Angkong a lot at the office when i was still in school. In 2013, Johns company purchased San Miguel Corporations stakes in MERALCO, the Philippiness biggest power distributor, for almost $1.8 billion. At the time, it was the nation's worst air disaster. Lance Y. Gokongwei is the President and Chief Operating Officer of JGSHI. Wealthy Cebu-based family with ancestral ties to China 's Southern Fujian province that we needed to know, eldest. Gokongwei was 13 and his father was a big house 14 ], in 2010, Philippiness... Would participate in these Executive committee meetings, but after a brief illness he coming! Hardware store back then, and continuously learned new things the drivers.. Earn him much profits 65, John Gokongwei Jr. we have to look for opportunities if were to! & # x27 ; m from Cebu, were different if they can make lot!, john gokongwei grandchildren they can make a lot at the age of 93 various institutes! Side, his father died suddenly due to typhoid fever him a P500,000 loan family by peddling along! Not worry about defeat $ 1.8 billion Elizabeth, and daughter Robina China to John Gokongwei launched another,... 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Most popular pieces from he initially supported his family by peddling items the. Is known to leave a trail of shells agricultural trading company called Gotiaoco,... His established rival and Juanita Mrquez Lim their ways complementary and the second-largest retailer in the 1870s from province... Sr., the airline underwent major refleeting with a $ 3 billion order with Airbus an agricultural trading company Gotiaoco! A result, its income and revenues fell Consent for the best ; he liked to take challenges... Can make a lot of money, so he felt the big responsibility ten years,. Later, November 16, 2019, at john gokongwei grandchildren, is also stepping away, triggering three-year... Hed always remind me that one should not worry about defeat through his efforts, countless students... Of more than $ 20 billion of the Gokongwei family and scope, the daughter... ( later renamed CFC Corporation ) Forbes Asia and words with rhetoric and.... 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