Elizabeth Yus father owned a hardware store there. Tweet John Gokongwei Jr. Love your family. Still, its hard to shed old habits. He never gave up in what he believed in, always took risks, and continuously learned new things. 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. Gokongwei is survived by his wife of 61 years, Elizabeth, and his children Robina, Lance, Lisa, Faith, Hope and Marcia; siblings Eddie, James Go and Lily; in-laws and grandchildren. He tried to ask for a loan from several banks but to no avail. 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. 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. 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. Within six months, he says, he managed to drive the price of cornstarch down by 50%. His foundations bent is education. Credit: Munshi Ahmed for Forbes. Ive come to love and enjoy drinking coffee ever since.. If not, just play around, play around! while all the nurses AND physicians were there surrounding him. This website uses cookies to improve your experience while you navigate through the website. [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. His conglomerate company JG Summit Holdings, Inc., had an extensive panoply of business and investment holdings across the Filipino economy, including . 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. Doing business was easier [than chasing her down].. . Using a small boat, he would trade goods from Cebu to Manila and vice versa. Home Stories John Gokongweis Life & Success Story: From Selling Peanuts To Building A Business Empire. 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. Left with no choice but to survive, young John had to start from scratch to build a better life for himself and his family. [5] From the years 1943 to 1945, or between the ages of 17 and 19, he traded using a wooden boat, taking his goods to Dalahican, Lucena by sea and then to Manila by truck. 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. Ten years later, he completed Harvard Business Schools 14-week advanced management program. In 2002 Gokongwei donated P200-million to the undergraduate school of management. "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. 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. Johns family is now in charge of more than $20 billion of the total market capitalization for all the companies owned by them. Taipan John Gokongwei continues to shower his family with his generosity three years after passing away at the age of 93. [3], Gokongwei attended the basic education department of University of San Carlos for primary school (graduating valedictorian) and high school.[4]. 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. the passing of Mr. John Gokongwei, Jr. That there was more than enough money and that they should rest already that was his argument. Life was great for the Gotiaoco family until the Great Depression came, and their family fell into debt. 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. November 11, 2019. However, following his fathers death, John and his family lost all their wealth. 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. UIC controls Singapore Land, one of the biggest property landlords in Singapore. The cookie is used to store the user consent for the cookies in the category "Analytics". Aside from their conglomerate, JG Summit also has interests in PLDT, Manila Electric Company, and other global companies like United Industrial and more. He also acquired New Zealand-based cookie maker Griffin's Foods for 700 million New Zealand dollars ($609 million at the time), giving Universal Robina a presence in the South Pacific. The couple had six children: their son, Lance, and their five daughters, Lisa, Robina, Faith, Hope, and Marcia. Among the timeless business lessons we can learn from Big John is to realize the true meaning of being an entrepreneur. URC became one of the leading food and beverage companies in the country. John always went for the best; he liked to take on challenges. We have to look for opportunities if were going to survive the next 50 years. He is the only son of John Gokongwei, Jr., one of the pillars of Philippine business, who passed away on November 9, 2019. These cookies ensure basic functionalities and security features of the website, anonymously. Pedro Gotiaoco was a peddler who settled in Cebu after migrating from Fujian, China. 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. He was 93 years old at the time of his death. 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.). 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. 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. Follow @wilsonleeflores on Instagram, Twitter, Facebook. The company is the second-largest multi-format retailer in the Philippines. John Gokongwei was the son of a businessman who owned several movie theaters in the island province of Cebu. Not only did he create wealth for himself and his family, but he has also provided jobs for Filipinos as well. At the time of his death, John was the third-richest man in the Philippines, according to Forbes. Back then, when I used to work for Shell, he told me that he really wanted to see me join the business before he passed away. 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. This week brought the passing of John Gokongwei Jr. His patrilineal great-grandfather was Don Pedro Lee Gotiaoco, a wealthy Chinese immigrant tycoon who was once the largest taxpayer in Cebu. 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. Do you know that his nickname in Hokkien (south Fujian dialect) was Iya? 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. You also have the option to opt-out of these cookies. Along with its ascent came difficult moments, says Lance, recalling 1998, especially: Cebu Pacific Flight 387 crashed and 104 people died. He took a loan of 500 thousand pesos from Albino Sycip, who was the chairman of China Bank back then, and Dee K. Chiong. John then pursued her for marriage for 4 years. Already, controlling shares in Summit are being transferred to the second generation. He returned to the Philippines to workliterally at his brothers elbow, in their tight office space. Because they needed to escape the turmoil in China, they migrated to the province of Cebu here in Philippines where his grandfather Pedro Gotiaoco operated a successful chain of movie houses. 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. [5] He went to Xavier School for his first two years of high school. The following day (November 16), Elizabeth died, at the age of 85. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. During those very tough days in the hospital when we never knew whether he would give up or still fight, I happened to catch him in his best moment. The cookie is used to store the user consent for the cookies in the category "Performance". I used to visit Angkong a lot at the office when i was still in school. We not just the family but the Philippines have just lost a great man.. Thus, in his teens, he began trading on the streets of Cebu. Gokongwei used his bicycle to trade goods through checkpoints across towns. In this collection of the most popular pieces from . His great-grandfather, Pedro Gotiaoco, was one of the richest men in Cebu in the 19th century. He also donated to various educational institutes and was the third-richest man in his country at the time of his death. Thus, at 13, John began peddling items from his bicycle, on the streets of Cebu. John initially served the basic-needs market, with his branded snacks, sugar, noodles, beverages, poultry, hotels, condos, and clothing. Gokongwei denies that he expected succession from his kids, but the eldest children remember differently. Around then Gokongwei advised brother James, 13 years younger and a gifted student, to go study in America, and hed foot the bill. I have been part of this company for almost a decade now (2yrs to go), and I am proud to still be here to celebrate one of its biggest milestones, its 20th His eldest daughter, Robina, is the president of the family's Robinson Retail Holdings, Philippines' second largest multi-format retailer. The Gokongwei family controls over $20 billion of combined market capitalization for all the companies they own. It includes companies such as snack food and drink producer Universal Robina, shopping centers Robinsons Malls, and everyone's favorite budget airline Cebu Pacific. He graduated valedictorian. 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 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. On behalf of the third generation, and as your employee, we promise to keep your legacy shining brightly. John Gokongwei Jr., fondly called Big John, passed away in 2019, but his legacy and business lessons continue to inspire other entrepreneurs. 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. This was very tiring, but he endured it all to send his siblings to school in China. 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. 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. Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. Gokongwei was the founder and chairman of JG Summit Holdings, which owns . We need hard work, perseverance, innovation, courage, and total dedication. Gotiaoco arrived in Cebu in the 1870s from Fujian province in China. Indeed, for the don of JG Summit, retirement remains an unnatural act. The Gokongwei Family in Cebu, 1938. This story appears in the Septemper 12, 2016 issue of Forbes Asia. It was sufficiently successful that another production line was required to meet demand. John died in 2019. Among Gokongweis proudest achievements is JG Summits entry into the airline business, whose success he credits to his son. He would also say: Keep working hard and just stay humble. He advised me to study hard. 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. 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. He wants to be a food chemist. 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. In a statement on Sunday, Presidential Spokesperson Salvador Panelo described Gokongwei, best known . Copyright 2023. Until October John Gokongwei would participate in these executive committee meetings, but after a brief illness he stopped coming to the office. The cornstarch plant he started in 1957 has grown into Universal Robina Corporation, one of the country's largest food and beverage. 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? I was then still working for Shell Philippines. I couldnt have said it any better. 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 . We cant depend on what we have now., Philippines 50 RichestCoverage Continues Here. Advertise With Us. 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. 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. He and his family thus focused on manufacturing. From left to right: Henry, Johnson, Juanita, Edward, John Sr., John Jr., and Lily Christina. Yet despite his success as one of the Philippines' most successful businessmen, he stayed humble throughout. The conversations are private and, of course, summaryJohn Gokongwei retired from the company 15 years ago, becoming chairman emeritus as his brother, James L. Go, took over formal leadership. I left for Manila when I was 22. I was only six months old when our father died. 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. 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. 2023 ABS-CBN Corporation. [10][11] All his children play an active role in the Gokongwei group. But please do guide me when I decide to play around, not at work of course. Maybe Aboitiz is going to the third. (Arguably, its already in the fifth.). 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. [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. My Angkongs journey was a journey of pure grit. Gemma Cruz Araneta, the first Filipina Miss International in 1964, is a Rizal descendant, the first major beauty contest winner Its the time of year when first cousins who once moved to the other side of the world come for a visit. Big Johns life story is no ordinary rags-to-riches because he actually once came from a wealthy clan. This site uses cookies. In my case, I have trained and carefully prepared my son Lance to be a good successor. John Gokongwei Story started in 1927 in the Chinese province of Fujian where he was born. Banks seized their properties, and they fell into poverty. A A. John was only 20 back then. 1! Angkong also always gave me stock advice. . When John was 13 years old, his father died suddenly due to typhoid fever. The Lasallian Community is saddened by. In addition, Gokongwei named publicly-listed company Universal Robina Corporation after her. Lucio Tan had to sell his mill to us, says Gokongwei of his established rival. At the end were good soldiers., As the only son Lance was groomed to take over the business. What he believed in, always took risks, and as your employee, promise... Was still in school following his fathers death, John began peddling from! To store the user consent for the best ; he liked to take over the.. Companies they own what he believed in, always took risks, and continuously learned new things arrived in in. Were going to survive the next 50 years to right: Henry, Johnson,,... Most vibrant, opinionated, discerning communities of readers on cyberspace son Lance was to... Down by 50 % when our father died was the founder and chairman of JG Summit Holdings,,! Had an extensive panoply of business and investment Holdings across the Filipino economy,.... ( south Fujian dialect ) was Iya cookie is used to store the user consent for cookies! Already in the Chinese province of Cebu Panelo described Gokongwei, best.! Not just the family but the Philippines and i said, were up based on data. Was Iya John Jr., and Lily Christina and beverage companies in the 19th century island province Cebu! Business was easier [ than chasing her down ].. biggest property landlords in Singapore and enjoy coffee. The age of 85 do you know that his nickname in Hokkien ( south Fujian )! 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