Credit: Munshi Ahmed for Forbes. 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. Thus, at 13, John began peddling items from his bicycle, on the streets of Cebu. I told him he didnt need to and that his expression of sympathy was already much appreciated by the family. His eldest daughter, Robina, heads the operations of Robinsons Retail Holdings, Inc. (she owns Robinsons Malls), as the company's COO since 2002. After the war, Big John took it as a good opportunity to expand his trading business abroad. In a statement to the media, his son Lance Gokongwei said: "Our beloved husband, father and grandfather John Gokongwei passed away peacefully 11:41 p.m., November 9th, at the Manila Doctor's Hospital surrounded . 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. He is the only son of John Gokongwei, Jr., one of the pillars of Philippine business, who passed away on November 9, 2019. Tycoon John Gokongwei Jr. (Photo courtesy of JG Summit Holding Inc.) MANILA-- Malacaang expressed its deep condolences to the family of tycoon John Gokongwei Jr. who passed away on Saturday night, remembering him for his "substantial contributions to the country's growth and development.". Even now, James has piles of ramen noodles, cookies and crackers in his office that he samples himself, sending word when something tastes rancid.. His conglomerate company JG Summit Holdings, Inc., had an extensive panoply of business and investment holdings across the Filipino economy, including . Other key JG Summit businesses, including land development, banking and petrochemicals (closely held with revenues of $415 million in 2015), are run by extended family members and professionals who arent at the Gokongwei Sunday lunches but convene with James, Lance, Lisa and Robina every Friday afternoon to thrash out corporate matters. In 1958, John and Elizabeth got married and had six beautiful children: Robina, Lance, Lisa, twins Faith, Hope, and Marcia. John initially studied at the University of San Carlos in Cebu for primary school and high school. These cookies will be stored in your browser only with your consent. [16] In 2020, the company was hit by quarantine measures during the COVID-19 pandemic. John Robinson Lim Gokongwei Jr. (traditional Chinese: ; simplified Chinese: ; pinyin: W Yhu; Peh-e-j: G Ek-hui; 11 August 1926 9 November 2019)[2] was a Filipino businessman, investor, and philanthropist. But commerce in the Philippines is rarely without domestic complications. Family businesses (Fambiz) constitute anywhere from 80 to 90 percent of businesses in the Philippines, yet many are plagued with problems. He also donated to various educational institutes and was the third-richest man in his country at the time of his death. 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. Until October John Gokongwei would participate in these executive committee meetings, but after a brief illness he stopped coming to the office. [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. Tweet John Gokongwei Jr. Love your family. The Gokongwei Family in Cebu, 1938. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Analytical cookies are used to understand how visitors interact with the website. Gokongwei often has his pants pockets stuffed with peanuts, his favorite snack, and is known to leave a trail of shells. Present during the visit were Executive Secretary Salvador Medialdea and Senators Christopher Lawrence "Bong" Go and Aquilino "Koko" Pimentel III. On this Wikipedia the language links are at the top of the page across from the article title. He built his first company, Amasia Trading, which sold and bought goods in the United States, Manila, and the Visayan region. Gokongwei used his bicycle to trade goods through checkpoints across towns. 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. In February 2008, Forbes Asia magazine's first Heroes of Philanthropy list included four Filipinos Gokongwei, Jaime Zobel de Ayala, Ramn del Rosario Jr. and Oscar Lpez. Their love gifted them with six children: Robina, Lance, Lisa, twins Faith and Hope, and Marcia. 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 . Indeed, for the don of JG Summit, retirement remains an unnatural act. His father was a scion of a wealthy Cebu-based family with ancestral ties to China's Southern Fujian province. 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. I eventually entered the family business in July. She used to be in the corporate world for a decade but followed her heart and became a writer. His businesses are now managed by his six children and his brother, James. In 1961, he established Consolidated Food Corporation (later known as CFC Corporation, which later merged with Universal Robina Corporation), which launched its instant coffee brand Blend 45. 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. The couple had six children: their son, Lance, and their five daughters, Lisa, Robina, Faith, Hope, and Marcia. 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. You give birth to it, you nurture it, you raise it through problems, crisis, good times, bad times. 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. It does not store any personal data. On behalf of the third generation, and as your employee, we promise to keep your legacy shining brightly. 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.. John Gokongwei's Nine Rules of Success. 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. Malacaang on Sunday expressed its deep condolences to the Gokongwei family. In a statement on Sunday, Presidential Spokesperson Salvador Panelo described Gokongwei, best known . As recently as this June he was still on the dais at the annual shareholder meeting, next to his son and brother as they ran the show. He then finished his last two years in Singapore. In 1977, Gokongwei earned his Master of Business Administration from De La Salle University. Still, its hard to shed old habits. [18], Gokongwei is the chairman of the Gokongwei Brothers Foundation, the largest private sector provider of STEM scholarships in the Philippines. He was 93 years old at the time of his death. Front row: Daughters Faith and Marcia Photo by FROM T&C PH. I left for Manila when I was 22. As is the usual story, he became a prominent businessman. [9], In the late 1990s, Gokongwei became general manager of Universal Robina's branded food business, where he led the development of beverages. [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. [10], In 2013, Gokongwei became chief executive of Universal Robina. Sign up now! His funeral was held on November 15. This story appears in the Septemper 12, 2016 issue of Forbes Asia. Gokongweis drive has not always served him well. Gokongwei's youngest brother, JG chairman, James Go received 174,942 shares. 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. 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. 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. With your meaningful insights, help shape the stories that can shape the country. ADVERTISEMENT - CONTINUE READING BELOW Celebrity Updates 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. His foundations bent is education. The company is the second-largest multi-format retailer in the Philippines. 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. As for himself, he says its time for him to enjoy life and focus on philanthropy. 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. The Filipino tycoon is most known for being the founder and former chairman of JG Summit, one of the countrys largest conglomerates. John Gokongwei Jr., fondly called Big John, passed away in 2019, but his legacy and business lessons continue to inspire other entrepreneurs. He also made generous donations to institutes such as the University of San Carlos, the De La Salle University, the Sacred Heart School, the Xavier School, and the Immaculate Conception Academy. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. He recalls bowing to the imperial soldiers. At the age of 93, Big John died surrounded by his family at the Manila Doctors Hospital on November 9, 2019. I was only six months old when our father died. Life was great for the Gotiaoco family until the Great Depression came, and their family fell into debt. 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. John and Elizabeth got married in 1958. We have to look for opportunities if were going to survive the next 50 years. [22] They have a daughter and a son. They later had 12 grandchildren. The list was composed of four philanthropists each from 13 selected countries and territories in Asia. The family would shuttle back and forth between China and the Philippines, but the fortune was lost when Gotiaoco's grandson, John Gokongwei Sr. passed away prematurely. John then launched a corn milling plant, named Universal Corn Products, and started producing corn starch and glucose. In 2010, the airline went through a huge re-fleeting operation. 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. Already, controlling shares in Summit are being transferred to the second generation. Follow @wilsonleeflores on Instagram, Twitter, Facebook. In 2013, Johns company purchased San Miguel Corporations stakes in MERALCO, the Philippiness biggest power distributor, for almost $1.8 billion. Together, they have two children, Hannah and Jacob. In this collection of the most popular pieces from . Lance Y. Gokongwei is the President and Chief Operating Officer of JGSHI. Save my name, email, and website in this browser for the next time I comment. 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.. The cookie is used to store the user consent for the cookies in the category "Analytics". ), 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. Elizabeth Yus father owned a hardware store there. James, Johns brother, is the COO and chairman of the company. Since Day 1 of his wake, Ive always been asked two questions: the first one is where the Chippy pillow came from by the way it is a pillow and not a blanket or a family size Chippy pack and the second is about my Angkongs advice to me, which was to play around.. In July 2014, Universal Robina acquired Griffin's Foods from Pacific Equity Partners, a New Zealand food company for $609 million. Big John found an interest in the cornstarch business but didnt have enough funds. 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). Back then, when I was a little boy, Angkong always beat me in swimming. 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. Though he belonged to an affluent trading family, he lost all his wealth after his fathers death. In November 1990, Gokongwei incorporated JG Summit Holdings as a publicly listed holding company. That was one week before he passed. Im thinking of advising them to look into digital, he says. The company was later renamed Universal Robina Corporation. Advertise With Us. He has holdings in telecommunications, financial services, petrochemicals, power generation, aviation and live stock . 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. During those very tough days in the hospital when we never knew whether he would give up or still fight, I happened to catch him in his best moment. He came from China with nothing. However, his companies later dominated other sectors, such as travel, petrochemicals, energy, and banking, too. Fortunately, he found the light at the end of the tunnel when China Banks Dr. Albino Sycip gave him a P500,000 loan. His siblings then joined his business. He came from Fujian province in China and owned a huge trading company, Gotiaoco Hermanos. 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. I was really shocked that someone who was 78 could beat me in swimming. He prepared by reading Nuts!, a book by former Southwest Airlines CEO Herb Kelleher. When I saw my wife for the first time, she was 17 and I was 23 or 24, says Gokongwei. By continuing to browse the site, you are agreeing to our use of cookies. He told me it was the least he could do for someone who had done so much for the Philippines. And James, at 77, is also stepping away, triggering a three-year process in which Lance will rise to chairman and CEO. 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. [5] He went to Xavier School for his first two years of high school. I used to visit Angkong a lot at the office when i was still in school. I initially thought that Id have a hard time in the family business due to the alleged long hours and a salary lower than I got in Shell but oh how I was truly mistaken. 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. His father, John Jr., established JG Summit Holdings Inc., while his mother, Elizabeth, was a founding member of Robinsons Department Store. This site uses cookies. [3], Gokongwei attended the basic education department of University of San Carlos for primary school (graduating valedictorian) and high school.[4]. Ten years later, he completed Harvard Business Schools 14-week advanced management program. 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 93. I couldnt have said it any better. When Angkong needed a pillow to lay his arm on at the hospital, my Auntie Marcia thought of bringing that pillow. This story appears in the Septemper 12, 2016 issue of Forbes Asia. 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%. Lisa is in charge of Summit Media. The Gokongwei family at one of their family gatherings in the 1980s. John donated 200 million pesos to an undergraduate management school in 2002. This cookie is set by GDPR Cookie Consent plugin. The airline is a subsidiary of JG Summit Holdings, controlled by the Gokongwei family - one of the richest Filipino- Chinesefamilies based in the Philippines. It was a sad moment and there was a flood of messages coming in, condoling with us. His father died when Gokongwei was only age 13. John Robinson Lim Gokongwei was born on August 11, 1926 in China to a Filipino-Chinese father who was a scion of a wealthy Cebu-based family with ancestral ties to China's Fujian province. John was about 23 or 24 and Elizabeth was 17 when they fell in love. He is also survived by wife Elizabeth and daughters Lisa, Robina, Faith, Hope and Marcia. He is survived by his wife, six children and at least 12 grandchildren. Portrait of John Gokongwei Jr. Photo: Handout from JG Summit Holdings Inc. Website. All Rights Reserved. Following World War II, in 1946, John Gokongwei launched his first company, Amasia Trading. I told my son that he should study well and work very hard, or else an enterprising immigrant youth now in 168 Mall might someday take over that seat of yours.. 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. the passing of Mr. John Gokongwei, Jr. Johns group also included Robinsons Land Corporation and Robinsons Retail Holdings, Inc. On August 11, 2016, which was also Johns 90th birthday, he declared his retirement from all the functions of JG Summit. 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. 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. 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. John always went for the best; he liked to take on challenges. At some point after the meal he slips away, and his only son, Lance, is summoned for quiet talk about the family business, JG Summit, which the host founded in 1957 and which today is the second-largest family-run business in the Philippines, with a market capitalization of $13.2 billion. Well look at the financial statements for you, Lance on dad John Gokongwei: Why he always had food in his pocket and loved to fly cheap, /ancx/food-drink/recommended-bars/03/02/23/a-jazz-bar-just-opened-inside-makati-cinema-square, /ancx/culture/art/03/01/23/kids-of-top-artists-showcase-works-alongside-their-dads, /ancx/culture/spotlight/02/28/23/a-first-look-at-lazadas-new-cafeteria-style-office-in-bgc, /ancx/culture/spotlight/02/28/23/cebu-pacs-smile-mag-is-back-with-new-younger-design, /ancx/style/necessary-style/02/27/23/the-union-x-jordan-1-low-ajko-collab-is-a-crowd-pleaser. James got accepted to Massachusetts Institute of Technology and earned a degree in chemical engineering. John Gokongwei Jr. built JG Summit into one of the, biggest conglomerates in the Philippines. 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. 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 then asked me: You have girlfriend? 'Old Auntie', under his great-grandfather, Don Pedro Singson Gotiaoco, whose illegitimate son was also President Sergio Osmea. John died on November 9, 2019, at the Manila Doctors Hospital, Manila, Philippines. 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 . These cookies track visitors across websites and collect information to provide customized ads. President and CEO of JG Summit Holdings Inc. Chairman of the Gokongwei Brothers Foundation, Inc. Gokongwei brothers John, Johnson, Henry, and James, established the Gokongwei Brothers Foundation in 1992 with the goal of having a lasting impact on education in the Philippines. The familys freshest wound stems from its foray into the countrys thorny telecommunications sector. 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. Philstar Global Corp. All Rights Reserved. John initially served the basic-needs market, with his branded snacks, sugar, noodles, beverages, poultry, hotels, condos, and clothing. [citation needed], In 2020, Gokongwei was named a member of board of the Global Reporting Initiative (GRI), representing the business enterprise sector. 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. 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. [12] His only son, Lance, currently leads the group as president and CEO of JG Summit. 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 . Lance Gokongwei is the president and chief operating officer of JG Summit Holdings. Her twin sisters, Faith and Hope, each have management roles there. My Angkongs journey was a journey of pure grit. He is survived by Elizabeth, his wife of 61 years; their children Robina, Lance, Lisa, Faith, Hope, and Marcia; his in-laws and grandchildren; brothers Eddie and James Go, sister Lily; and nieces and nephews. *The quote is a wink to the Tony Stark moment with his daughter in the film Avengers: Endgame. In my case, I have trained and carefully prepared my son Lance to be a good successor. Initially, he dealt in second-hand goods imported from the U.S., but after his family joined in, he started dealing in beverages and cigarettes, too. 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. However, following his fathers death, John and his family lost all their wealth. Gokongwei denies that he expected succession from his kids, but the eldest children remember differently. But as for the second question, Ill get to that much later. And now at your old age to tear away from it, its very hard.. 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. 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