His great-grandfather, Pedro Gotiaoco, was one of the richest men in Cebu in the 19th century. He tried to ask for a loan from several banks but to no avail. From there Cebu Pacific was born. [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. After the war, Big John took it as a good opportunity to expand his trading business abroad. Petitioner Gokongwei, a stockholder of the San Miguel Corporation, filed a declaration of. "Our beloved husband, father and grandfather . [17] As a result, its income and revenues fell. In 2010, the airline went through a huge re-fleeting operation. The book also included the Nine Rules of achieving success in business that John had followed. - A A +. John L. Gokongwei, Jr. lived a full and accomplished life, entrepreneurship was his lifelong passion and it was not about the money. 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. Thus, in his teens, he began trading on the streets of Cebu. He was 93. 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. 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). I admired them as inspiring business heroes who are positive role models for their Confucian values, entrepreneurship and philanthropy. I was then still working for Shell Philippines. Lance Y. Gokongwei is the President and Chief Operating Officer of JGSHI. Copyright 2023. He supported mainly educational charities through the familys Gokongwei Brothers Foundation. Justin replied: He said, Id rather you be a nerd. 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. [14], In 2010, Cebu Pacific became the Philippines' largest airline. Life was great for the Gotiaoco family until the Great Depression came, and their family fell into debt. In 1977, Gokongwei earned his Master of Business Administration from De La Salle University. [3], Gokongwei attended the basic education department of University of San Carlos for primary school (graduating valedictorian) and high school.[4]. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Her twin sisters, Faith and Hope, each have management roles there. From 2003, his telecom company Digital Telecommunications Philippines spent nearly $800 million for its mobile carrier, Sun Cellular, which was the third-largest mobile operator in the Philippines at that time before selling to the PLDT group for $1.7 billion. You also have the option to opt-out of these cookies. Follow @wilsonleeflores on Instagram, Twitter, Facebook. 1! Angkong also always gave me stock advice. The Filipino tycoon is most known for being the founder and former chairman of JG Summit, one of the countrys largest conglomerates. In November 1990, Gokongwei incorporated JG Summit Holdings as a publicly listed holding company. He took a loan of 500 thousand pesos from Albino Sycip, who was the chairman of China Bank back then, and Dee K. Chiong. This included humility, never acting like hes entitled, andbecause hes singleto play around. John and Elizabeth got married in 1958. 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. 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.). URC became one of the leading food and beverage companies in the country. John Gokongwei I'm from Cebu. He built a massive empire consisting of businesses in sectors such as food, beverage, clothing, aviation, telecommunications, banking, energy, petrochemicals, and livestock farming. 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. 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. 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. 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. James got accepted to Massachusetts Institute of Technology and earned a degree in chemical engineering. Around then Gokongwei advised brother James, 13 years younger and a gifted student, to go study in America, and hed foot the bill. The following year, JG Summit launched the green tea brand C2, thus revolutionizing the beverages market of the country, which was controlled by cola companies back then. In 2010, the airline underwent major refleeting with a $3 billion order with Airbus. 'Old Auntie', under his great-grandfather, Don Pedro Singson Gotiaoco, whose illegitimate son was also President Sergio Osmea. The company was named Universal Corn Products (which later evolved into Universal Robina Corporation). He returned to the Philippines to workliterally at his brothers elbow, in their tight office space. John Gokongwei Jr., whose rags-to-riches story has inspired many Filipino entrepreneurs, died on November 9 at . His inspiring story from riches to rags to riches is something that we can learn from. All the Gokongwei children work actively for their family business group. 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. John Gokongwei was the son of a businessman who owned several movie theaters in the island province of Cebu. These days she fusses after him. John was about 23 or 24 and Elizabeth was 17 when they fell in love. Mrs. Gokongwei was characterized by her children as a selfless mother who always put her family first and described her as the reason behind John Gokongwei's success. Mariing kinondena ng pamahalaan ng Pilipinas ang panibagong ballistic missile test na ginawa ng North Korea. [14], In December 2022, Gokongwei announced his resignation as President and CEO of Cebu Pacific. On behalf of the third generation, and as your employee, we promise to keep your legacy shining brightly. His siblings then joined his business. Gotiaoco arrived in Cebu in the 1870s from Fujian province in China. Whenever he gave opinions, he was never condescending but always humble., Years ago, when Justin was 11 years old, he was made to work in the familys Toys R Us store during summer. Gokongwei often has his pants pockets stuffed with peanuts, his favorite snack, and is known to leave a trail of shells. 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 . 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? Johns great-grandfather, who was a trader from China, was one of the Philippines's most influential Chinese Filipinos. He and his family thus focused on manufacturing. Gokongwei is married to Jay Leong. This, later on, became Universal Robina Corporation (URC) when it ventured into other finished goods. As the business morphed in size and scope, the brothers found their ways complementary and the payoff substantial. 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. Success Story of John Gokongwei. In this collection of the most popular pieces from . He decided to shut down in favor of cornstarch production, at which another precocious operator in Cebu was doing well. The company imported flour, fruits, onions, used clothes, old newspapers, and magazines from the U.S. See the events in life of John Gokongwei in Chronological Order, (Filipino Businessman, Investor, Founder and Chairman of JG Summit Holdings, Inc), https://www.thefamouspeople.com/profiles/john-gokongwei-21045.php. John died in 2019. Elizabeth tolerates that in order to keep him away from the lechon (roasted pork) and ice cream that he wants most. 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. [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. But opting out of some of these cookies may affect your browsing experience. His father, John Jr., established JG Summit Holdings Inc., while his mother, Elizabeth, was a founding member of Robinsons Department Store. On his mothers side, his grandfather was the immigrant tycoon and Iloilo Chinese community leader Pedro Marquez Lim. I often visited my Angkong to play mahjong, along with my grandmother and cousin Therese. 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. Ive come to love and enjoy drinking coffee ever since.. Pedro Gotiaoco was a peddler who settled in Cebu after migrating from Fujian, China. It includes companies such as snack food and drink producer Universal Robina, shopping centers Robinsons Malls, and everyone's favorite budget airline Cebu Pacific. 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. In the 1970s he lost a lawsuit to try to get on the board of competing food company San Miguel Corp., despite having bought enough shares to join the board. You give birth to it, you nurture it, you raise it through problems, crisis, good times, bad times. Robinsons Land President and CEO Frederick Go shared a heartwarming gesture from his uncle, the late ultra bilyonaryo John Gokongwei, who wanted to get his fledgling journalism career flying high. When he saw his grandfather, the boy asked why were his parents were making him work that summer job? 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. This site uses cookies. He is survived by his wife, six children and at least 12 grandchildren. UIC controls Singapore Land, one of the biggest property landlords in Singapore. He has holdings in telecommunications, financial services, petrochemicals, power generation, aviation and live stock . My Angkongs journey was a journey of pure grit. This cookie is set by GDPR Cookie Consent plugin. John Gokongwei Jr. died on November 9, 2019. What did they talk about in that last conversation? Directors and San Miguel Corporation. Some people have said: Part of the journey is the end.. 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 been Executive Vice President of JGSHI and was elected President and Chief Operating Officer effective January 1, 2002. 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. 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. Everybody called him Big John, but we his family, siblings and wife Elizabeth called him Iya, which means Lovable Baby. My father John Gokongwei, Sr. died when he was only 34, my mother was a very pretty, 30-year-old widow. In 1992, John together with his brothers, Johnson, Henry, and James, donated a significant portion of their shares from JG Summit to their very own foundation, Gokongwei Brothers Foundation (GBF) which aims to create lasting impact on education in the Philippines. Johns father belonged to an affluent family from Cebu (in the Philippines), and his ancestors lived in China's Southern Fujian province. 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 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. Not only did he create wealth for himself and his family, but he has also provided jobs for Filipinos as well. 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. 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. Patrick recalled, I distinctly remember this discussion because my father was loudly trying to convince Mr. John not to do it anymore. damages with prayer for a preliminary injunction, against the majority of the members of the Board of. 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. When John was 13 years old, his father died suddenly due to typhoid fever. 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. In 1961, John Gokongwei launched another company, Consolidated Food Corporation (later renamed CFC Corporation). They later had 12 grandchildren. However, his companies later dominated other sectors, such as travel, petrochemicals, energy, and banking, too. That was one week before he passed. 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. We were in Rome, Italy then, it was just house coffee and tasted so bitter. With his money, Big John founded his cornstarch manufacturing company, Universal Corn Products, in 1954. He was a second cousin once removed of Andrew Gotianun Sr., the founder of Filinvest Development Corporation. 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. 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! Subscribe to Forbes Asia. 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. President and CEO of JG Summit Holdings Inc. Chairman of the Gokongwei Brothers Foundation, Inc. Lucio Tan had to sell his mill to us, says Gokongwei of his established rival. He attempted a $1 billion takeover of United Industrial Corporation Ltd (UIC), a property giant from Singapore of which he owned in excess of 30%. John initially served the basic-needs market, with his branded snacks, sugar, noodles, beverages, poultry, hotels, condos, and clothing. Buy PhilSTARs Tagalog tabloid Pilipino STAR Ngayon every Friday and read my column Kuwentong Panadero. Read also https://investment.fwd.com.ph/experts/asia-s-business-leaders-and-what-we-can-learn-from-them. Wake details are private, to be shared with family and friends, the children said. I was nine then, and hed make beating me look so damn easy. By continuing to browse the site, you are agreeing to our use of cookies. Within six months, he says, he managed to drive the price of cornstarch down by 50%. During these difficult years, he initially supported his family by peddling items along the streets of Cebu from his bicycle. Fortunately, he found the light at the end of the tunnel when China Banks Dr. Albino Sycip gave him a P500,000 loan. He prepared by reading Nuts!, a book by former Southwest Airlines CEO Herb Kelleher. He had retired in 2016, leaving behind the day-to-day running of the family's businesses to his only son Lance Gokongwei. I love seeing them, entertaining them (and myself), taking them to places they enjoy visiting. 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. His strong resolve towards life made him successful and become one of the richest men in the. 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. Wife, six children and at least 12 grandchildren Jr., whose illegitimate son john gokongwei grandchildren also President Sergio.. Set by GDPR cookie Consent plugin lifelong passion and it was just house coffee and i,! And ice cream that he had the biggest player in the 19th century difficult years he. This collection of the biggest property landlords in Singapore i said, up... Private, to be shared with family and friends, the airline went a! Seeing them, entertaining them ( and myself ), taking them to places they enjoy.! 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