[12], Then tragedy struck, when in February 1998, two years after the company's inception, Cebu Pacific Flight 387 slammed into a mountainside, killing all 104 people aboard. Life was great for the Gotiaoco family until the Great Depression came, and their family fell into debt. [16] In 2020, the company was hit by quarantine measures during the COVID-19 pandemic. He pointed at me and called me, and in his grungy voice, asked me directly without blinking: How are our coffee sales? I responded: Were doing much better this month Angkong! Necessary cookies are absolutely essential for the website to function properly. Banks seized their properties, and they fell into poverty. Business tycoon John Gokongwei Jr., the founder and chairman emeritus of one of the country's top conglomerates JG Summit Holdings Inc. has passed away. Careers He was 93 years old at the time of his death. Johns family is now in charge of more than $20 billion of the total market capitalization for all the companies owned by them. The Gokongwei family controls over $20 billion of combined market capitalization for all the companies they own. In the early 1950s, John started importing cigarettes and whiskey, too. 2023 ABS-CBN Corporation. His eldest daughter, Robina, is the president of the family's Robinson Retail Holdings, Philippines' second largest multi-format retailer. Today the airline dominates the Philippines domestic market. He recalls bowing to the imperial soldiers. 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. Robina Y. Gokongwei-Pe is the eldest child John Gokongwei Jr., founder and Chairman Emeritus of the publicly-listed company JG Summit Holdings Inc. (JGSHI). Directors and San Miguel Corporation. But please do guide me when I decide to play around, not at work of course. 'Old Auntie', under his great-grandfather, Don Pedro Singson Gotiaoco, whose illegitimate son was also President Sergio Osmea. Johns great-grandfather, who was a trader from China, was one of the Philippines's most influential Chinese Filipinos. 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. 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). In March 1996, his low-cost airline company, Cebu Pacific Air was launched. 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. 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. He checks his Bloomberg Terminal at home each weekday and has been weighing what JG Summit should do next. Family businesses (Fambiz) constitute anywhere from 80 to 90 percent of businesses in the Philippines, yet many are plagued with problems. These cookies ensure basic functionalities and security features of the website, anonymously. Gokongwei was born in Fujian province, southern China, as a fourth-generation scion of a rich family whose great-grandfather was the immigrant tycoon and Cebu Chinese community leader Pedro Gotiaoco. His great-grandfather, Pedro Gotiaoco, was one of the richest men in Cebu in the 19th century. 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. Home Stories John Gokongweis Life & Success Story: From Selling Peanuts To Building A Business Empire. The Gokongwei family at one of their family gatherings in the 1980s. The movie theaters, cars and the big house were all seized by the banks. [18], Gokongwei is the chairman of the Gokongwei Brothers Foundation, the largest private sector provider of STEM scholarships in the Philippines. I admired and liked him very much. He is also survived by wife Elizabeth and daughters Lisa, Robina, Faith, Hope and Marcia. Gokongwei was born in China to John Gokongwei Sr. and Juanita Mrquez Lim. Justin recalled: Angkong told me that he was only 13 years old when he had to start working for the sake of the family., Justin also shared that in April or May this year, Gokongwei told him: I want to see you in the family business before I die. We were left with practically nothing, except a good name, says Gokongwei. It includes companies such as snack food and drink producer Universal Robina, shopping centers Robinsons Malls, and everyone's favorite budget airline Cebu Pacific. 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. Philstar Global Corp. All Rights Reserved. John Gokongwei Jr., owner of Cebu Pacific, died on Nov. 9 at the age of 93, according to a statement from the airline. I finally joined the business four months ago not knowing he'd pass away so soon. Gokongwei used his bicycle to trade goods through checkpoints across towns. Justin smiled, saying: We talked about coffee and dating. 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.. To our beloved Angkong, the one true genius, extraordinary family man, and philanthropist, thank you for everything. 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. He was 93. In 1958, John and Elizabeth got married and had six beautiful children: Robina, Lance, Lisa, twins Faith, Hope, and Marcia. This included humility, never acting like hes entitled, andbecause hes singleto play around. Aside from their conglomerate, JG Summit also has interests in PLDT, Manila Electric Company, and other global companies like United Industrial and more. [4], Gokongwei was born in Manila, as the second of six children. [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. The airline is a subsidiary of JG Summit Holdings, controlled by the Gokongwei family - one of the richest Filipino- Chinesefamilies based in the Philippines. We have to look for opportunities if were going to survive the next 50 years. MANILA, Philippines In 1992, industrialist John Gokongwei Jr. and his brothers - Henry, Johnson and James - established the Gokongwei Brothers Foundation (GBF), with the goal of making a. This was very tiring, but he endured it all to send his siblings to school in China. He also owned Robinsons Retail Holdings, Inc. and Robinsons Land Corporation. JG Summits Digital Telecommunications Philippines (Digitel) had been the first there to launch unlimited mobile texting. 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.. We need to slug it out." 1! Angkong also always gave me stock advice. The following day (November 16), Elizabeth died, at the age of 85. Gokongwei's only son, Lance, is its chief executive officer. None of the events that happened in our familys lives would have happened without you. I used to visit Angkong a lot at the office when i was still in school. - A A +. He liked to take care of the family, the company and people.. Born in Fujian, China, and raised in . His father died when Gokongwei was only age 13. 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. Gokongwei's only son, Lance, is president. I admired them as inspiring business heroes who are positive role models for their Confucian values, entrepreneurship and philanthropy. His in-laws and grandchildren; brothers Eddie and James Go (chairman of JF Summit), sister Lily; and his nieces and nephews count among his descendants. It introduced Blend 45, its own brand of instant coffee. 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. 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. [9], In the late 1990s, Gokongwei became general manager of Universal Robina's branded food business, where he led the development of beverages. Back then, when I was a little boy, Angkong always beat me in swimming. 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. John initially served the basic-needs market, with his branded snacks, sugar, noodles, beverages, poultry, hotels, condos, and clothing. Entrepreneur, philanthropist, and nation-builder John L. Gokongwei passed away on November 9, 2019, at the age of 93. You also have the option to opt-out of these cookies. The couple had six children: their son, Lance, and their five daughters, Lisa, Robina, Faith, Hope, and Marcia. He supported mainly educational charities through the familys Gokongwei Brothers Foundation. As is the usual story, he became a prominent businessman. 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. 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. I dont know another Philippine company that has lasted three generations, except for Ayala, he says. You may have passed away, but your legacy will live on. James got accepted to Massachusetts Institute of Technology and earned a degree in chemical engineering. 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. It's hard to imagine many consumer products and services today without thinking of John Gokongwei Jr. 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). whatever it takes. My Angkongs journey was a journey of pure grit. [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]. 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. 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. Johns eldest daughter, Robina, has been serving as the operations head and COO of Robinsons Retail Holdings, Inc. (which owns the Robinsons Malls) since 2002. Tweet John Gokongwei Jr. 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. 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. John was 13 years old, the eldest of six siblings, so he felt the big responsibility. 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. 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. 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. 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. All Rights Reserved. Gokongwei married Mary Joyce "Jay" Leong in a wedding ceremony in Hawaii in 2000. Culture Gokongwei's eldest apo on how he gave his Angkong the biggest smile just before he died "He taught us everything that we needed to know," said eldest Gokongwei grandchild Justin Pe yesterday in his eulogy for his grandfather. He wants to be a food chemist. This site uses cookies. Robina recalls her fathers booming voice waking her up early during school summers she worked at Robinsons warehouse tagging clothes. He enjoys reading and exercising [37], and was a finisher in the 2009 New York Marathon [38]. I'm Cebuano. 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. 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. [5] He went to Xavier School for his first two years of high school. His father was a scion of a wealthy Cebu-based family with ancestral ties to China's Southern Fujian province. 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. His father, John Jr., established JG Summit Holdings Inc., while his mother, Elizabeth, was a founding member of Robinsons Department Store. He grew up with his four siblings, James, Henry, Johnson, and Lily Ngochua. 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. 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. We must compete not just with rhetoric and words. The cookie is used to store the user consent for the cookies in the category "Performance". *The quote is a wink to the Tony Stark moment with his daughter in the film Avengers: Endgame. That there was more than enough money and that they should rest already that was his argument. 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. 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. Gokongwei was the founder and chairman of JG Summit Holdings, which owns . We were in Rome, Italy then, it was just house coffee and tasted so bitter. Im thinking of advising them to look into digital, he says. He is also President and Chief Operating Officer of URC, and JGSPC. He is survived by his wife, six children and at least 12 grandchildren. . 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. From left to right: Henry, Johnson, Juanita, Edward, John Sr., John Jr., and Lily Christina. I often visited my Angkong to play mahjong, along with my grandmother and cousin Therese. Go told Usapang Bilyonaryo how his beloved Uncle John made sure he had options in a media career after seeing how he loved writing in college. She was 85. John's great-grandfather, Pedro Gotiaoco, was among the original rags-to-riches stories in the Philippines. 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.. [14], Gokongwei died in Manila on 9 November 2019, at the age of 93. Gokongwei often has his pants pockets stuffed with peanuts, his favorite snack, and is known to leave a trail of shells. My mom only spoke half of it in her eulogy three days ago. This page was last edited on 28 January 2023, at 21:04. 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. The Gokongwei Family in Cebu, 1938. I was nine then, and hed make beating me look so damn easy. [10], In 2013, Gokongwei became chief executive of Universal Robina. The cookies is used to store the user consent for the cookies in the category "Necessary". The company was later renamed Universal Robina Corporation. But as for the second question, Ill get to that much later. John Gokongwei was married to Elizabeth Yu from 1958 until his death in 2019. Be No. The cookie is used to store the user consent for the cookies in the category "Analytics". "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. We need hard work, perseverance, innovation, courage, and total dedication. [He's] somebody who created somethingit was the center of his life. John then pursued her for marriage for 4 years. Credit: Munshi Ahmed for Forbes. He had been Executive Vice President of JGSHI and was elected President and Chief Operating Officer effective January 1, 2002. 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. Gokongweis drive has not always served him well. Not only did he create wealth for himself and his family, but he has also provided jobs for Filipinos as well. [10][11] All his children play an active role in the Gokongwei group. In a statement on Sunday, Presidential Spokesperson Salvador Panelo described Gokongwei, best known . He taught us everything that we needed to know, said eldest Gokongwei grandchild Justin Pe yesterday in his eulogy for his grandfather. Privacy It offered a detailed account of Johns life and struggles. Front row: Daughters Faith and Marcia Photo by FROM T&C PH. Success Story of John Gokongwei. 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). 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. Present during the visit were Executive Secretary Salvador Medialdea and Senators Christopher Lawrence "Bong" Go and Aquilino "Koko" Pimentel III. It's his daughter's reply to his "I love you," after he tucksher in to bed. After the war, Big John took it as a good opportunity to expand his trading business abroad. 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. Her twin sisters, Faith and Hope, each have management roles there. 8List Editor. Gokongwei stated that entrepreneurship is a way out of poverty. Some people have said: Part of the journey is the end.. Johns father belonged to an affluent family from Cebu (in the Philippines), and his ancestors lived in China's Southern Fujian province. John Gokongwei was the son of a businessman who owned several movie theaters in the island province of Cebu. His inspiring story from riches to rags to riches is something that we can learn from. damages with prayer for a preliminary injunction, against the majority of the members of the Board of. [14], In 2010, Cebu Pacific became the Philippines' largest airline. John was only 20 back then. 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