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! At the time, it was the nation's worst air disaster. The book also included the Nine Rules of achieving success in business that John had followed. My fathers words suddenly made things clear, this was not about money anymore. 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. 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. [15] Exactly one week after his death, his widow Elizabeth Yu Gokongwei died at the age of 85.[16][17]. 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. He has holdings in telecommunications, financial services, petrochemicals, power generation, aviation and live stock . [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. 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. His father died when Gokongwei was only age 13. Privacy John and Elizabeth had first met when John was still a small-time importer of second-hand goods and owned a tiny store in Cebu. The family discovered that much of the business was built on debt. 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. Gokongwei (pictured) was survived by his wife of 61 years, Elizabeth, and his children Robina, Lance (president and chief executive of JG Summit), Lisa, Faith, Hope and Marcia. [14], In 2010, Cebu Pacific became the Philippines' largest airline. 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 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.. Below is a letter Lance wrote for his two children, Hannah and Jacob, sharing the greatest lessons he learned from his father. It offered a detailed account of Johns life and struggles. In family conversation, it was never "John Gokongwei." He was always fondly referred to as "Iya" while his mother Juanita, half-sister to my grandfather Jose Asensi Marquez Lim, was . JG Summits Digital Telecommunications Philippines (Digitel) had been the first there to launch unlimited mobile texting. As the business morphed in size and scope, the brothers found their ways complementary and the payoff substantial. John donated 200 million pesos to an undergraduate management school in 2002. Middle row: John's mother Ana Juanita, son Lance, and daughters Lisa and Hope. 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. He was a second cousin once removed of Andrew Gotianun Sr., the founder of Filinvest Development Corporation. 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). Yesterday morning, Friday, at Heritage Park in Taguig City, Justin Pe paid his last respects to his departed grandfather, the industrialist John Gokongwei Jr. with a heartfelt eulogy both touching and funny. Still, its hard to shed old habits. By 1957, seeing that trading would always have low margins[5] and would always be dependent on government policies, the family concern shifted towards manufacturing. With his money, Big John founded his cornstarch manufacturing company, Universal Corn Products, in 1954. Following World War II, in 1946, John Gokongwei launched his first company, Amasia Trading. I told him he didnt need to and that his expression of sympathy was already much appreciated by the family. Taipan John Gokongwei continues to shower his family with his generosity three years after passing away at the age of 93. But commerce in the Philippines is rarely without domestic complications. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. 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! By 1957, John realized that trading would not earn him much profits. Careers Left with no choice but to survive, young John had to start from scratch to build a better life for himself and his family. In March 1996, his low-cost airline company, Cebu Pacific Air was launched. Follow @wilsonleeflores on Instagram, Twitter, Facebook. 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 Gokongwei was honored by PeopleAsia magazine as one of its People of the Year awardees in 2006. These days she fusses after him. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. John Gokongwei with eldest grandchild Justin back in the day. 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. He and my grandmother would always winthese two old fellows who, in their late 70s back then, were still very, very sharp. She now writes for a number of websites and other online media publications. Andrew Gotianun Sr. was a distant relative of John. In 2010, the airline underwent major refleeting with a $3 billion order with Airbus. 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 1977, Gokongwei earned his Master of Business Administration from De La Salle University. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Portrait of John Gokongwei Jr. Photo: Handout from JG Summit Holdings Inc. Website. He launched his first company, Amasia Trading, in 1946. I said, If they can make a lot of money, so can I. He hired operators, the beginnings of Universal Robina. His great-grandfather, Pedro Gotiaoco, was one of the richest men in Cebu in the 19th century. But one in particular made me pause and reflect. 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. On this Wikipedia the language links are at the top of the page across from the article title. Life was great for the Gotiaoco family until the Great Depression came, and their family fell into debt. By continuing to browse the site, you are agreeing to our use of cookies. 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. 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. 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. 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. 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 . He then finished his last two years in Singapore. 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. [15], In 2018, Gokongwei was named CEO of JG Summit. The white rabbit the luckiest animal in the Chinese zodiac hops into Ferragamos 2023 collection. 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 siblings then joined his business. He also donated to various educational institutes and was the third-richest man in his country at the time of his death. A business partner of ours from Indonesia asked about the wake details and interment and told me he wanted to fly in to visit. Gokongwei's only son, Lance, is president. 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. 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. Among Gokongweis proudest achievements is JG Summits entry into the airline business, whose success he credits to his son. Gokongweis drive has not always served him well. I told my mother shes the one Im going to get married to, so I chased her for four years. The cookie is used to store the user consent for the cookies in the category "Performance". Together the brothers expanded into new business ventures as the elder, intuitive Gokongwei saw opportunities and James kept a detailed eye on the balance sheet, R&D and quality control. The last time I had visited him at his home a few months ago, he seemed to have lost some weight but was nevertheless in good health and still intellectually sharp. Big John found an interest in the cornstarch business but didnt have enough funds. It was sufficiently successful that another production line was required to meet demand. He came from China with nothing. His conglomerate company JG Summit Holdings, Inc., had an extensive panoply of business and investment holdings across the Filipino economy, including . [16] In 2020, the company was hit by quarantine measures during the COVID-19 pandemic. 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 was 93. The partnership with Calbee, however, ended five years later as Calbee suffered losses in the Philippine market. But opting out of some of these cookies may affect your browsing experience. He came from Fujian province in China and owned a huge trading company, Gotiaoco Hermanos. 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. [6] 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. 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. The company is the second-largest multi-format retailer in the Philippines. [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. John died on November 9, 2019, at the Manila Doctors Hospital, Manila, Philippines. 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. Lance was 28 years old, a University of Pennsylvania graduate whod worked at an American bank and done a few job rotations at JG Summit, when he says his father approached him with news hed bought four aircraft and asked him to run their new airline business. His patrilineal great-grandfather was Don Pedro Lee Gotiaoco, a wealthy Chinese immigrant tycoon who was once the largest taxpayer in Cebu. A decade later, he attended a 14-week advanced management program at Harvard University.[5]. In 1961, John Gokongwei launched another company, Consolidated Food Corporation (later renamed CFC Corporation). My Angkongs journey was a journey of pure grit. John Gokongwei's Nine Rules of Success. 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. This cookie is set by GDPR Cookie Consent plugin. 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. 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. He always made sure that he worked hard and smart, giving 100% of his effort in everything he did. Lucio Tan had to sell his mill to us, says Gokongwei of his established rival. In my case, I have trained and carefully prepared my son Lance to be a good successor. I admired them as inspiring business heroes who are positive role models for their Confucian values, entrepreneurship and philanthropy. 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. You give birth to it, you nurture it, you raise it through problems, crisis, good times, bad times. Johns father belonged to an affluent family from Cebu (in the Philippines), and his ancestors lived in China's Southern Fujian province. Under Big Johns leadership, he launched Universal Corn Products (now Universal Robina Corporation), Consolidated Food Corporation (later CFC Corporation), JG Summit Holdings, Cebu Pacific Air, Robinson Retail Holdings, and more. He returned to the Philippines to workliterally at his brothers elbow, in their tight office space. John Gokongwei Story started in 1927 in the Chinese province of Fujian where he was born. And now at your old age to tear away from it, its very hard.. In November 1990, Gokongwei incorporated JG Summit Holdings as a publicly listed holding company. In addition, Gokongwei named publicly-listed company Universal Robina Corporation after her. John Gokongwei Jr. came from a wealthy clan in Cebu but they lost everything because of world war 2. [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. 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. Johns great-grandfather, who was a trader from China, was one of the Philippines's most influential Chinese Filipinos. Tweet John Gokongwei Jr. Love your family. Opinions expressed by Forbes Contributors are their own. The Filipino tycoon is most known for being the founder and former chairman of JG Summit, one of the countrys largest conglomerates. [He's] somebody who created somethingit was the center of his life. After the war, Big John took it as a good opportunity to expand his trading business abroad. Analytical cookies are used to understand how visitors interact with the website. When he died, Big John was the third-richest person in the Philippines, according to Forbes. Even now, James has piles of ramen noodles, cookies and crackers in his office that he samples himself, sending word when something tastes rancid.. Im thinking of advising them to look into digital, he says. I eventually entered the family business in July. [6], In 1988, he graduated from the University of Pennsylvania with a double degree in Finance and Applied Science (summa cum laude). He also owned Robinsons Retail Holdings, Inc. and Robinsons Land Corporation. By the time the U.S. retook control of the Philippines, he had saved enough to travel to America for secondhand goodsused shoes, used clothing, used newspapers, any used remnantsto sell at a small storefront he rented in Cebu. And so John and Elizabeth had six children, Robina, Lance, Lisa, Faith, Hope, and Marcia raised in the love and care of family who all "turned out pretty good," in Lance's own "humble" opinion, he said. The cookies is used to store the user consent for the cookies in the category "Necessary". "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. We were left with practically nothing, except a good name, says Gokongwei. This website uses cookies to improve your experience while you navigate through the website. 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. Front row: Daughters Faith and Marcia Photo by FROM T&C PH. Gokongwei used his bicycle to trade goods through checkpoints across towns. Asked me: How are you, hows your work i swear to God he. 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