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. 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. Fortunately, he found the light at the end of the tunnel when China Banks Dr. Albino Sycip gave him a P500,000 loan. [17] As a result, its income and revenues fell. His businesses are now managed by his six children and his brother, James. He is also President and Chief Operating Officer of URC, and JGSPC. Tweet John Gokongwei Jr. Love your family. We were left with practically nothing, except a good name, says Gokongwei. He wants to be a food chemist. We need hard work, perseverance, innovation, courage, and total dedication. CEBUANO tycoon John Gokongwei Jr. died on Saturday night, Nov. 9, 2019. 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. At the time, it was the nation's worst air disaster. ), As they prepare for the leadership shift, Robinas eldest son, a senior studying chemistry at New York University, will likely be the first member of the third generation to join. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". 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. He is the Vice-Chairman and Deputy Chief Executive Officer of RLC and LMI. Within six months, he says, he managed to drive the price of cornstarch down by 50%. A report by Esquire magazine, one of the publications of Gokongwei-owned Summit Publishing Company Inc., said it received the following text message from the tycoon's only son Lance. Big Johns life story is no ordinary rags-to-riches because he actually once came from a wealthy clan. He came from Fujian province in China and owned a huge trading company, Gotiaoco Hermanos. These cookies track visitors across websites and collect information to provide customized ads. These cookies will be stored in your browser only with your consent. It includes companies such as snack food and drink producer Universal Robina, shopping centers Robinsons Malls, and everyone's favorite budget airline Cebu Pacific. So at age 15, having dropped out of school to work, he started selling goods like soaps and tires at the local market. He was 93 years old at the time of his death. That was one week before he passed. But one in particular made me pause and reflect. The cookie is used to store the user consent for the cookies in the category "Analytics". John was about 23 or 24 and Elizabeth was 17 when they fell in love. 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. [14], In 2010, Cebu Pacific became the Philippines' largest airline. 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. 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. 2023 ABS-CBN Corporation. [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. John donated 200 million pesos to an undergraduate management school in 2002. The couple had six children: their son, Lance, and their five daughters, Lisa, Robina, Faith, Hope, and Marcia. His other. He was 93. While part of Gokongweis office at the Robinsons Equitable Tower in the Ortigas district of Pasig showcases photographs of him with the likes of former president Benigno Aquino III and Imelda Marcos, Gokongwei says hes stayed away from political entanglements. 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. 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. Gokongwei often has his pants pockets stuffed with peanuts, his favorite snack, and is known to leave a trail of shells. On behalf of the third generation, and as your employee, we promise to keep your legacy shining brightly. He grew up with his four siblings, James, Henry, Johnson, and Lily Ngochua. 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. But his great-grandfather Pedro Gotiaoco had built an agricultural trading company called Gotiaoco Hermanos, a prominent business in Cebu. With the success of his Amasia trading, Big John reunited with his family back in the Philippines. 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. 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. 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. [13], "Our world seemed to turn upside-down," Gokongwei said, as he faced the greatest challenge of his career. 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! JG Summits Digital Telecommunications Philippines (Digitel) had been the first there to launch unlimited mobile texting. John then pursued her for marriage for 4 years. This year, two of the Philippines' greatest taipans passed away, both peacefully. The Filipino billionaire is known as the founder of JG Summit Holdings, one of the Philippines' largest conglomerates. At the age of 17, Big John rediscovered his familys love for trading and expanded his business. I often visited my Angkong to play mahjong, along with my grandmother and cousin Therese. 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. Elizabeth had actively supported her husband in all his endeavors. Malacaang on Sunday expressed its deep condolences to the Gokongwei family. On his mothers side, his grandfather was the immigrant tycoon and Iloilo Chinese community leader Pedro Marquez Lim. 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. 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. Gemma Cruz Araneta, the first Filipina Miss International in 1964, is a Rizal descendant, the first major beauty contest winner Its the time of year when first cousins who once moved to the other side of the world come for a visit. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. I was one year old when I came here to Cebu from Fujian, south China. All Rights Reserved. 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. Until October John Gokongwei would participate in these executive committee meetings, but after a brief illness he stopped coming to the office. It's his daughter's reply to his "I love you," after he tucksher in to bed. Aside from their conglomerate, JG Summit also has interests in PLDT, Manila Electric Company, and other global companies like United Industrial and more. 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. The company was later renamed Universal Robina Corporation. 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. In 2010, the airline underwent major refleeting with a $3 billion order with Airbus. Analytical cookies are used to understand how visitors interact with the website. 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). Through his efforts, countless Lasallian students and scholars were . With a net worth of US $5.3 billion, making him the third richest man in the Philippines in 2019, John Gokongwei Jr. has really come a long way from the young boy who sold soap, thread and other basic needs in post-war Cebu. Careers Never stop learning And always look back and be grateful to where you came from. To our beloved Angkong, the one true genius, extraordinary family man, and philanthropist, thank you for everything. Already, controlling shares in Summit are being transferred to the second generation. I'm Cebuano. [15], In 2018, Gokongwei was named CEO of JG Summit. Bygones might be bygonesSan Miguels chief, Ramon Ang, calls the Gokongweis one of the smartest families in the Philippines todaybut when I try to win over Gokongwei with his favored snack, handing him a pouch of peanuts, he bristles, noting the brandSan Miguel. Elizabeth's father owned a hardware store back then. The Filipino-Chinese entrepreneur and philanthropist died Saturday night, Nov. 9, 2019 at the age of 93 surrounded by family at the Manila Doctors Hospital in Manila.. His status as the country's third richest businessman, with a wealth of $5.3 billion according to Forbes magazine was . 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. He wants to create more snack flavors., Gokongwei says he tells his children that he wants the company to exist for at least another 50 years. In addition, Gokongwei named publicly-listed company Universal Robina Corporation after her. About 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. Khanser's book also enumerated the Nine Rules of business success[8] that Gokongwei followed since he was still a young businessman. 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.. The Gokongwei family at one of their family gatherings in the 1980s. The company is the second-largest multi-format retailer in the Philippines. 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. Philstar Global Corp. All Rights Reserved. Yet despite his success as one of the Philippines' most successful businessmen, he stayed humble throughout. John Gokongwei with eldest grandchild Justin back in the day. When your age hits 70 sometimes you feel totally ignorant, no matter how intelligent you used to be. Anyway, like my mom, I decided that sticking to something despite so many defeats is no longer being smart. Along with its ascent came difficult moments, says Lance, recalling 1998, especially: Cebu Pacific Flight 387 crashed and 104 people died. Gokongwei married Mary Joyce "Jay" Leong in a wedding ceremony in Hawaii in 2000. This included humility, never acting like hes entitled, andbecause hes singleto play around. John L. Gokongwei, Jr. lived a full and accomplished life, entrepreneurship was his lifelong passion and it was not about the money. Pedro Gotiaoco was a peddler who settled in Cebu after migrating from Fujian, China. At the end were good soldiers., As the only son Lance was groomed to take over the business. Because once when I lived in the US, I came across a wheelchair-bound columnist who wrote about his life. John made JG Summit Holdings a publicly-listed holding company in November 1990. 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. His father died when Gokongwei was only age 13. John's great-grandfather, Pedro Gotiaoco, was among the original rags-to-riches stories in the Philippines. 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. 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