[9], In the late 1990s, Gokongwei became general manager of Universal Robina's branded food business, where he led the development of beverages. . The eldest grandchild of Mr John he is the son of Robina Gokongwei Pe he said that his grandfathers journey was that of true grit, and that despite his enormous success the business titan has remained humble. Gokongwei's only son, Lance, is president. He recalls bowing to the imperial soldiers. 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. The family discovered that much of the business was built on debt. I couldnt have said it any better. Elizabeth had actively supported her husband in all his endeavors. Malacaang on Sunday expressed its deep condolences to the Gokongwei family. We need to slug it out." 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. Following World War II, in 1946, John Gokongwei launched his first company, Amasia Trading. All the Gokongwei children work actively for their family business group. He eventually unloaded his stake. 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. ), 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. The partnership with Calbee, however, ended five years later as Calbee suffered losses in the Philippine market. The couple had six children: their son, Lance, and their five daughters, Lisa, Robina, Faith, Hope, and Marcia. [14], In December 2022, Gokongwei announced his resignation as President and CEO of Cebu Pacific. Among Gokongweis proudest achievements is JG Summits entry into the airline business, whose success he credits to his son. In 2013, Johns company purchased San Miguel Corporations stakes in MERALCO, the Philippiness biggest power distributor, for almost $1.8 billion. His strong resolve towards life made him successful and become one of the richest men in the. Lisa Gokongwei-Cheng, the second daughter, is in charge of publisher Summit Media (its 13 magazine titles include the FORBES PHILIPPINES license). Mass will be held on Friday. He grew up with his four siblings, James, Henry, Johnson, and Lily Ngochua. Maybe Aboitiz is going to the third. (Arguably, its already in the fifth.). Using a small boat, he would trade goods from Cebu to Manila and vice versa. When I saw my wife for the first time, she was 17 and I was 23 or 24, says Gokongwei. 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. 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.. [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. He decided to shut down in favor of cornstarch production, at which another precocious operator in Cebu was doing well. He came from Fujian province in China and owned a huge trading company, Gotiaoco Hermanos. The following day (November 16), Elizabeth died, at the age of 85. In this collection of the most popular pieces from . [citation needed], In 2020, Gokongwei was named a member of board of the Global Reporting Initiative (GRI), representing the business enterprise sector. From journalists Emmie Abadilla 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. He also donated to various educational institutes and was the third-richest man in his country at the time of his death. Learn how and when to remove these template messages, Learn how and when to remove this template message, "2022 Forbes list: Sy siblings still richest in PH, Villar is biggest gainer", "John and Elizabeth Gokongwei: A love story not limited by life on earth", "Lance Gokongwei really, really wanted to be a baller: Find out how he's living out his dream in Xavier's alumni team - Bilyonaryo Business News", "CEO in the news: JG Summit's CEO-to-be is already putting ambitions into action", "Lance Gokongwei is proof you should never judge a man by his car", "URC poised to grab leadership in 'healthy' beverage market", "Find out why Gokongwei's potato chip venture with Japan's Calbee bombed - Bilyonaryo Business News", "Lance Gokongwei resigns as Cebu Pacific President & CEO", "JG Summit appoints Lance Gokongwei as CEO", "JG Summit Q1 net income down 19% on coronavirus concerns", "Lance Y. Gokongwei appointed board member of top sustainability reporting standards body - BusinessMirror", "Lance Gokongwei lets wife be CEO of household: "She's the gold standard in parenting", "What Does Lance Gokongwei Want His Children to Know", https://en.wikipedia.org/w/index.php?title=Lance_Gokongwei&oldid=1136120034, Articles needing cleanup from November 2022, Cleanup tagged articles with a reason field from November 2022, Wikipedia pages needing cleanup from November 2022, Articles with a promotional tone from October 2022, Articles with multiple maintenance issues, Articles with unsourced statements from December 2022, Creative Commons Attribution-ShareAlike License 3.0. I love seeing them, entertaining them (and myself), taking them to places they enjoy visiting. To our beloved Angkong, the one true genius, extraordinary family man, and philanthropist, thank you for everything. He was 93. I'm Cebuano. 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! Below is a letter Lance wrote for his two children, Hannah and Jacob, sharing the greatest lessons he learned from his father. 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. James got accepted to Massachusetts Institute of Technology and earned a degree in chemical engineering. I was one year old when I came here to Cebu from Fujian, south China. Khanser's book also enumerated the Nine Rules of business success[8] that Gokongwei followed since he was still a young businessman. the passing of Mr. John Gokongwei, Jr. His great-grandfather, Pedro Gotiaoco, was one of the richest men in Cebu in the 19th century. This story appears in the Septemper 12, 2016 issue of Forbes Asia. 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. We must compete not just with rhetoric and words. I was only six months old when our father died. He came from China with nothing. But one in particular made me pause and reflect. We can't depend on what we have now. John was about 23 or 24 and Elizabeth was 17 when they fell in love. 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). John Gokongwei Jr., whose rags-to-riches story has inspired many Filipino entrepreneurs, died on November 9 at . Elizabeth Yus father owned a hardware store there. In my case, I have trained and carefully prepared my son Lance to be a good successor. He is survived by his wife, six children and at least 12 grandchildren. [6] San Miguel Corporation was a big customer of theirs. He then asked me: You have girlfriend? 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. 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. His father, John Jr., established JG Summit Holdings Inc., while his mother, Elizabeth, was a founding member of Robinsons Department Store. Gokongwei used his bicycle to trade goods through checkpoints across towns. In July 2014, Universal Robina acquired Griffin's Foods from Pacific Equity Partners, a New Zealand food company for $609 million. Though he belonged to an affluent trading family, he lost all his wealth after his fathers death. 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. Johns group also included Robinsons Land Corporation and Robinsons Retail Holdings, Inc. On August 11, 2016, which was also Johns 90th birthday, he declared his retirement from all the functions of JG Summit. 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. John Gokongwei Jr., fondly called Big John, passed away in 2019, but his legacy and business lessons continue to inspire other entrepreneurs. This site uses cookies. He took a loan of 500 thousand pesos from Albino Sycip, who was the chairman of China Bank back then, and Dee K. Chiong. "He is survived by his wife of 61 years, Elizabeth, and his children Robina, Lance, Lisa, Faith, Hope, and Marcia; his in-laws and grandchildren; brothers Eddie and James Go, sister Lily; and his nieces and nephews," the statement added. Still, its hard to shed old habits. Last November 9, 2020, marks the first death anniversary of John Gokongwei Jr., a Filipino business tycoon and philanthropist who founded JG Summit, one of the largest conglomerates in the country. Family businesses (Fambiz) constitute anywhere from 80 to 90 percent of businesses in the Philippines, yet many are plagued with problems. Gokongwei was born in Manila, as the second of six children. 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. What did they talk about in that last conversation? He became the. 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. I often visited my Angkong to play mahjong, along with my grandmother and cousin Therese. John Gokongwei I'm from Cebu. With the success of his Amasia trading, Big John reunited with his family back in the Philippines. His other. 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 . With a loan of 500 thousand pesos from Albino Sycip, then chairman of China Bank, and Dee K. Chiong, he started a corn milling plant producing glucose and corn starch. It offered a detailed account of Johns life and struggles. Contact Us
Her twin sisters, Faith and Hope, each have management roles there. November 11, 2019. From left to right: Henry, Johnson, Juanita, Edward, John Sr., John Jr., and Lily Christina. 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. By 1957, John realized that trading would not earn him much profits. Lucio Tan had to sell his mill to us, says Gokongwei of his established rival. The cookie is used to store the user consent for the cookies in the category "Analytics". [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. I was then still working for Shell Philippines. 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. Be No. Then came the Japanese occupation in 1942. Founded in 1957 by patriarch John Gokongwei Jr., the 65 year-old Gokongwei . His father was a scion of a wealthy Cebu-based family with ancestral ties to China's Southern Fujian province. The cookie is used to store the user consent for the cookies in the category "Other. 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?
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