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. He recalls bowing to the imperial soldiers. 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. I said, If they can make a lot of money, so can I. He hired operators, the beginnings of Universal Robina. John Gokongwei was the son of a businessman who owned several movie theaters in the island province of Cebu. URC became one of the leading food and beverage companies in the country. Pedro Gotiaoco was a peddler who settled in Cebu after migrating from Fujian, China. In 2003, John launched his telecom company, Digital Telecommunications Philippines, which invested almost $800 million to establish its mobile carrier, Sun Cellular, the third-largest mobile operator in the country back then. 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. Thus, at 13, John began peddling items from his bicycle, on the streets of Cebu. He then asked me: You have girlfriend? His father died when Gokongwei was only age 13. This week brought the passing of John Gokongwei Jr. The company imported flour, fruits, onions, used clothes, old newspapers, and magazines from the U.S. We decided to put the same pillow with him now because we know it will provide comfort for him if he knew that that one of his bestselling snacks would go with him to the beyond. Home Stories John Gokongweis Life & Success Story: From Selling Peanuts To Building A Business Empire. He is also Chairman of Robinsons Retail Holdings, the Philippines second largest retailer; Vice Chairman of Manila Electric Company; and Chairman of the Gokongwei Brothers Foundation (GBF), Inc. [3], Gokongwei is the only son of the late John Gokongwei Jr.[1] He,along with his siblings, are listed among the richest in the country. 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. We need hard work, perseverance, innovation, courage, and total dedication. Present during the visit were Executive Secretary Salvador Medialdea and Senators Christopher Lawrence "Bong" Go and Aquilino "Koko" Pimentel III. His conglomerate company JG Summit Holdings, Inc., had an extensive panoply of business and investment holdings across the Filipino economy, including . He also gave donations to University of San Carlos, Xavier School, De La Salle University, Sacred Heart School Ateneo de Cebu and Immaculate Conception Academy (ICA).[9]. We cant depend on what we have now., Philippines 50 RichestCoverage Continues Here. Powered by. That there was more than enough money and that they should rest already that was his argument. In February 2008, Forbes Asia magazine placed him on their list of the Heroes of Philanthropy. The list included three other Filipinos, Jaime Zobel de Ayala, Oscar Lpez, and Ramn del Rosario Jr. John Gokongwei was married to Elizabeth Yu from 1958 until his death 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. At the time of his death, John was the third-richest man in the Philippines, according to Forbes. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Aside from their conglomerate, JG Summit also has interests in PLDT, Manila Electric Company, and other global companies like United Industrial and more. November 11, 2019. If a job is given to me, Ill do it, says Lance, now 49. Competitive swimming was not one of my strengths and so I switched to golf and played with my Dad, whom I easily beat. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Another lesson in business: Always be humble, Mr. John admonished. But in the end, it was his family that made John Gokongwei live a happy and content life. 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. The Chippy pillow was a product that we sold at Toys R Us last year, along with the Chiz Curls pillow. When he turned 80, Mr. John blazed a trail in philanthropy when he announced on his birthday that he was donating half of his personal holdings in JG Summit to establish the Gokongwei Brothers Foundation, the philanthropic arm of the Gokongwei Group. 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 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. It's hard to imagine many consumer products and services today without thinking of John Gokongwei Jr. John and Elizabeth got married in 1958. The partnership with Calbee, however, ended five years later as Calbee suffered losses in the Philippine market. 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. John made JG Summit Holdings a publicly-listed holding company in November 1990. 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. He had retired in 2016, leaving behind the day-to-day running of the family's businesses to his only son Lance Gokongwei. Following World War II, in 1946, John Gokongwei launched his first company, Amasia Trading. 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. You give birth to it, you nurture it, you raise it through problems, crisis, good times, bad times. The Philippines late Snack Food King, petrochemicals and budget airline pioneer John L. Gokongwei, Jr. was one of Southeast Asias most respected self-made business leaders and philanthropists when he died at age 93 on Nov. 9. 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. He and his family thus focused on manufacturing. Read Online John L Gokongwei Jr The Path Of Entrepreneurship . Save my name, email, and website in this browser for the next time I comment. [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. Along with its ascent came difficult moments, says Lance, recalling 1998, especially: Cebu Pacific Flight 387 crashed and 104 people died. [4], Gokongwei was born in Manila, as the second of six children. Her twin sisters, Faith and Hope, each have management roles there. 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. 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. Taipan John Gokongwei continues to shower his family with his generosity three years after passing away at the age of 93. [18], Gokongwei is the chairman of the Gokongwei Brothers Foundation, the largest private sector provider of STEM scholarships in the Philippines. Within six months, he says, he managed to drive the price of cornstarch down by 50%. [6] San Miguel Corporation was a big customer of theirs. 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. Gokongwei's youngest brother, JG chairman, James Go received 174,942 shares. When I saw my wife for the first time, she was 17 and I was 23 or 24, says Gokongwei. 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. 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. Robina Gokongwei-Pe, the eldest daughter, runs Robinsons Retail Holdings, the second-largest retailer in the Philippines. 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. 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 initially served the basic-needs market, with his branded snacks, sugar, noodles, beverages, poultry, hotels, condos, and clothing. With your meaningful insights, help shape the stories that can shape the country. By 1957, John realized that trading would not earn him much profits. Success Story of John Gokongwei. [6] Never stop learning And always look back and be grateful to where you came from. With the success of his Amasia trading, Big John reunited with his family back in the Philippines. John was only 20 back then. 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. A decade later Lisa would launch Summit Media, this time acquiring no newspapers, just nonpolitical magazines and websites. Learning and always look back and be grateful to where you came from runs Robinsons Holdings! Now., Philippines 50 RichestCoverage Continues Here says, he says, he says he... That trading would not earn him much profits on their list of the food. 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