A business partner of ours from Indonesia asked about the wake details and interment and told me he wanted to fly in to visit. (Although James says his retirement wont be total retirementI will still be around as executive chairman. Mass will be held on Friday. 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. This week brought the passing of John Gokongwei Jr. In this collection of the most popular pieces from . whatever it takes. 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. Founded in 1957 by patriarch John Gokongwei Jr., the 65 year-old Gokongwei . Lance demurred in favor of his family destiny, now firmly set in motion by his uncles timetable. His great-grandfather, Chinese immigration Pedro Gotiaco, rose from being an oil peddler to become proprietor of Gotiaco Hermanos, then the largest enterprise in trading and insurance in Cebu. Malacaang on Sunday expressed its deep condolences to the Gokongwei family. [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. Ten years later, he completed Harvard Business Schools 14-week advanced management program. 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. [10], In 2013, Gokongwei became chief executive of Universal Robina. However, following his fathers death, John and his family lost all their wealth. Family businesses (Fambiz) constitute anywhere from 80 to 90 percent of businesses in the Philippines, yet many are plagued with problems. 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. 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. Gokongwei's only son, Lance, is president. On this Wikipedia the language links are at the top of the page across from the article title. We also use third-party cookies that help us analyze and understand how you use this website. Gokongwei brothers John, Johnson, Henry, and James, established the Gokongwei Brothers Foundation in 1992 with the goal of having a lasting impact on education in the Philippines. They later had 12 grandchildren. Gokongwei used his bicycle to trade goods through checkpoints across towns. From journalists Emmie Abadilla Thanks for your feedback to [emailprotected]. His response took me aback. James, Johns brother, is the COO and chairman of the company. Credit: Munshi Ahmed for Forbes. He became the. Gokongwei was born in Manila, as the second of six children. The cookie is used to store the user consent for the cookies in the category "Analytics". I was then still working for Shell Philippines. But his great-grandfather Pedro Gotiaoco had built an agricultural trading company called Gotiaoco Hermanos, a prominent business in Cebu. It's his daughter's reply to his "I love you," after he tucksher in to bed. We cant depend on what we have now., Philippines 50 RichestCoverage Continues Here. Left with no choice but to survive, young John had to start from scratch to build a better life for himself and his family. Their love gifted them with six children: Robina, Lance, Lisa, twins Faith and Hope, and Marcia. [14], Gokongwei died in Manila on 9 November 2019, at the age of 93. Thus, at 13, John began peddling items from his bicycle, on the streets of Cebu. 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. In the early 1950s, John started importing cigarettes and whiskey, too. Her twin sisters, Faith and Hope, each have management roles there. 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. Around then Gokongwei advised brother James, 13 years younger and a gifted student, to go study in America, and hed foot the bill. During these difficult years, he initially supported his family by peddling items along the streets of Cebu from his bicycle. Along with its ascent came difficult moments, says Lance, recalling 1998, especially: Cebu Pacific Flight 387 crashed and 104 people died. 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. Entrepreneur, philanthropist, and nation-builder John L. Gokongwei passed away on November 9, 2019, at the age of 93. - A A +. https://investment.fwd.com.ph/experts/asia-s-business-leaders-and-what-we-can-learn-from-them. [15] Exactly one week after his death, his widow Elizabeth Yu Gokongwei died at the age of 85.[16][17]. 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. In July 2014, Universal Robina acquired Griffin's Foods from Pacific Equity Partners, a New Zealand food company for $609 million. [4], Gokongwei was born in Manila, as the second of six children. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Big John found an interest in the cornstarch business but didnt have enough funds. 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. He was 93 years old at the time of his death. He also donated to various educational institutes and was the third-richest man in his country at the time of his death. I was only six months old when our father died. 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. His great-grandfather, Pedro Gotiaoco, was one of the richest men in Cebu in the 19th century. 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. This included humility, never acting like hes entitled, andbecause hes singleto play around. John's great-grandfather, Pedro Gotiaoco, was among the original rags-to-riches stories in the Philippines. I'm Cebuano. JG Summit grew to $135 million by 1993, when it listed on the Philippine Stock Exchange, and then $1.8 billion by its 50th anniversary in 2007. In November 1990, Gokongwei incorporated JG Summit Holdings as a publicly listed holding company. When Angkong needed a pillow to lay his arm on at the hospital, my Auntie Marcia thought of bringing that pillow. John Gokongwei Jr., fondly called Big John, passed away in 2019, but his legacy and business lessons continue to inspire other entrepreneurs. Years of hard work, discipline and brilliant strategic thinking made the entrepreneur into the countrys undisputed Snack Foods King with his Jack n Jill brands, a visionary industrialist and founder of many other progressive enterprises under JG Summit Holdings, Inc. Gokongwei pioneered the budget airline concept, which made Philippine airline travel affordable, with Cebu Pacific Air. John was 13 years old, the eldest of six siblings, so he felt the big responsibility. Elizabeth tolerates that in order to keep him away from the lechon (roasted pork) and ice cream that he wants most. It has also provided the content and technology teachers and other stakeholders need to develop their skills as educators." To this day, my cousins and I still play mahjong every Sunday lunch, but I guarantee that none of us could match the sharpness that both my Amah and Angkong had when it comes to mahjong. The Lasallian Community is saddened by. John initially studied at the University of San Carlos in Cebu for primary school and high school. I eventually entered the family business in July. [9], In the late 1990s, Gokongwei became general manager of Universal Robina's branded food business, where he led the development of beverages. In the early 1950s, along with his brothers and sisters who returned from China, he started to import cigarettes and whiskey too. It offered a detailed account of Johns life and struggles. Still, in 1999 president Joseph Erap Estrada filed a 101 million pesos ($2.6 million then) libel lawsuit against the familys Manila Times, then run by Robina, after the newspaper called Estrada an unwitting godfather for approving a disputed power contract. 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. We need to slug it out." 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. Even now, James has piles of ramen noodles, cookies and crackers in his office that he samples himself, sending word when something tastes rancid.. His patrilineal great-grandfather was Don Pedro Lee Gotiaoco, a wealthy Chinese immigrant tycoon who was once the largest taxpayer in Cebu. Our new product developments have contributed a lot, and so have Great Taste Premium and Great Taste Choco. I swear to God that he had the biggest smile I ever saw in his face. 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.). Necessary cookies are absolutely essential for the website to function properly. 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. [6] . Sign up now! 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. Lucio Tan had to sell his mill to us, says Gokongwei of his established rival. This site uses cookies. The airline is a subsidiary of JG Summit Holdings, controlled by the Gokongwei family - one of the richest Filipino- Chinesefamilies based in the Philippines. He quickly disagreed, saying: No, were different. Among the timeless business lessons we can learn from Big John is to realize the true meaning of being an entrepreneur. He launched his first company, Amasia Trading, in 1946. 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. 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. His father, John Jr., established JG Summit Holdings Inc., while his mother, Elizabeth, was a founding member of Robinsons Department Store. It's hard to imagine many consumer products and services today without thinking of John Gokongwei Jr. Lance Gokongwei is the president and chief operating officer of JG Summit Holdings. He had retired in 2016, leaving behind the day-to-day running of the family's businesses to his only son Lance Gokongwei. Even though he had to stop schooling in his teenage years to support his family, he always understood the value of having a good education. From there Cebu Pacific was born. The Gokongwei family even has also donated buildings and money to big universities here in the country and part of the proceeds of this book will go to a charitable institution. Some people have said: Part of the journey is the end.. [7] The following year, he partnered with Japan's Calbee and France's Danone for potato chips and beverages respectively. 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. Elizabeth Yus father owned a hardware store there. The cornstarch plant he started in 1957 has grown into Universal Robina Corporation, one of the country's largest food and beverage. Home Stories John Gokongweis Life & Success Story: From Selling Peanuts To Building A Business Empire. The company was later renamed Universal Robina Corporation. Maybe Aboitiz is going to the third. (Arguably, its already in the fifth.). 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. Lance Y. Gokongwei is the President and Chief Operating Officer of JGSHI. 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. Within six months, he says, he managed to drive the price of cornstarch down by 50%. This was very tiring, but he endured it all to send his siblings to school in China. "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. Using a small boat, he would trade goods from Cebu to Manila and vice versa. John Gokongwei was the son of a businessman who owned several movie theaters in the island province of Cebu. At the age of 93, Big John died surrounded by his family at the Manila Doctors Hospital on November 9, 2019. 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 . 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 then showed me how to put some milk and sugar. [5] He went to Xavier School for his first two years of high school. He took a loan of 500 thousand pesos from Albino Sycip, who was the chairman of China Bank back then, and Dee K. Chiong. Gokongwei married Elizabeth Yu in 1958 and had six children (one son and five daughters) Lisa, Robina, Lance, Faith, Hope and Marcia. None of the events that happened in our familys lives would have happened without you. 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 married to Elizabeth Yu from 1958 until his death in 2019. At the end were good soldiers., As the only son Lance was groomed to take over the business. In 1977, Gokongwei earned his Master of Business Administration from De La Salle University. 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 . 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. Careers 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. John Gokongwei Jr., owner of Cebu Pacific, died on Nov. 9 at the age of 93, according to a statement from the airline. 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.). The Filipino tycoon is most known for being the founder and former chairman of JG Summit, one of the countrys largest conglomerates. In addition, Gokongwei named publicly-listed company Universal Robina Corporation after her. With the success of his Amasia trading, Big John reunited with his family back in the Philippines. [He's] somebody who created somethingit was the center of his life. He decided to shut down in favor of cornstarch production, at which another precocious operator in Cebu was doing well. The cookie is used to store the user consent for the cookies in the category "Performance". When he saw his grandfather, the boy asked why were his parents were making him work that summer job? I was really shocked that someone who was 78 could beat me in swimming. Elizabeth's father owned a hardware store back then. He is survived by his wife, six children and at least 12 grandchildren. But commerce in the Philippines is rarely without domestic complications. He built a massive empire consisting of businesses in sectors such as food, beverage, clothing, aviation, telecommunications, banking, energy, petrochemicals, and livestock farming. As is the usual story, he became a prominent businessman. I admired them as inspiring business heroes who are positive role models for their Confucian values, entrepreneurship and philanthropy. Following World War II, in 1946, John Gokongwei launched his first company, Amasia Trading. 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. Below is a letter Lance wrote for his two children, Hannah and Jacob, sharing the greatest lessons he learned from his father. Now, as he turns 90, he is retiring again, and this time may really mean it. 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. 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. His eldest daughter, Robina, heads the operations of Robinsons Retail Holdings, Inc. (she owns Robinsons Malls), as the company's COO since 2002. 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). 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. My fathers words suddenly made things clear, this was not about money anymore. He is the only son of John Gokongwei, Jr., one of the pillars of Philippine business, who passed away on November 9, 2019. 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. Im thinking of advising them to look into digital, he says. In 2010, the airline underwent major refleeting with a $3 billion order with Airbus. He is also President and Chief Operating Officer of URC, and JGSPC. This website uses cookies to improve your experience while you navigate through the website. John then pursued her for marriage for 4 years. Until October John Gokongwei would participate in these executive committee meetings, but after a brief illness he stopped coming to the office. 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 tried to ask for a loan from several banks but to no avail. And James, at 77, is also stepping away, triggering a three-year process in which Lance will rise to chairman and CEO. She had also been a founding member of the Robinsons Department Store and had served on the board of trustees of the Gokongwei Brothers Foundation (GBF). "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. Life was great for the Gotiaoco family until the Great Depression came, and their family fell into debt. He grew up with his four siblings, James, Henry, Johnson, and Lily Ngochua. He also owned Robinsons Retail Holdings, Inc. and Robinsons Land Corporation. Tweet John Gokongwei Jr. Why do I almost always write about my life? I said, If they can make a lot of money, so can I. He hired operators, the beginnings of Universal Robina. He then asked me: You have girlfriend? [22] They have a daughter and a son. John Gokongwei Jr. We have to look for opportunities if we're going to survive the next 50 years. Copyright 2023. John died in 2019. 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 also brought down mobile phone costs by pioneering unli-texts and unli-calls with Sun Cellular. 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. 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. 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. The Gokongwei family controls over $20 billion of combined market capitalization for all the companies they own. These cookies track visitors across websites and collect information to provide customized ads. I used to visit Angkong a lot at the office when i was still in school. In a statement on Sunday, Presidential Spokesperson Salvador Panelo described Gokongwei, best known . This year, two of the Philippines' greatest taipans passed away, both peacefully. Gokongweis drive has not always served him well. Business News Philippines 2023. 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