Advertise With Us. I was nine then, and hed make beating me look so damn easy. Lisa Gokongwei-Cheng, the second daughter, is in charge of publisher Summit Media (its 13 magazine titles include the FORBES PHILIPPINES license). These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Lance followed his fathers pattern: He recruited operating talent. [7] In 2004, the company introduced C2, a ready-to-drink tea that went head-to-head with foreign cola companies that dominated the beverage sector in the Philippines. He decided to shut down in favor of cornstarch production, at which another precocious operator in Cebu was doing well. 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. Save my name, email, and website in this browser for the next time I comment. I finally joined the business four months ago not knowing he'd pass away so soon. I couldnt have said it any better. 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. His response took me aback. I was then still working for Shell Philippines. John Gokongwei Jr. built JG Summit into one of the, biggest conglomerates in the Philippines. 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. [10], In 2013, Gokongwei became chief executive of Universal Robina. whatever it takes. 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. 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. Left with no choice but to survive, young John had to start from scratch to build a better life for himself and his family. 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. He returned to the Philippines to workliterally at his brothers elbow, in their tight office space. Because they needed to escape the turmoil in China, they migrated to the province of Cebu here in Philippines where his grandfather Pedro Gotiaoco operated a successful chain of movie houses. 'Old Auntie', under his great-grandfather, Don Pedro Singson Gotiaoco, whose illegitimate son was also President Sergio Osmea. Thus, at 13, John began peddling items from his bicycle, on the streets of 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 passing of Mr. John Gokongwei, Jr. 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. This page was last edited on 28 January 2023, at 21:04. So at age 15, having dropped out of school to work, he started selling goods like soaps and tires at the local market. ), 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. In the early 1950s, along with his brothers and sisters who returned from China, he started to import cigarettes and whiskey too. The line is repeated by Tonythis time as hologramto his daughter at his funeral. 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 . A decade later, he attended a 14-week advanced management program at Harvard University.[5]. He taught us everything that we needed to know, said eldest Gokongwei grandchild Justin Pe yesterday in his eulogy for his grandfather. 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! Gokongweis drive has not always served him well. 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. 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. 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. During these difficult years, he initially supported his family by peddling items along the streets of Cebu from his bicycle. 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 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.. His eldest daughter, Robina, heads the operations of Robinsons Retail Holdings, Inc. (she owns Robinsons Malls), as the company's COO since 2002. To our beloved Angkong, the one true genius, extraordinary family man, and philanthropist, thank you for everything. Family businesses (Fambiz) constitute anywhere from 80 to 90 percent of businesses in the Philippines, yet many are plagued with problems. [citation needed], In 2020, Gokongwei was named a member of board of the Global Reporting Initiative (GRI), representing the business enterprise sector. 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. Im thinking of advising them to look into digital, he says. John Gokongwei Jr. died on November 9, 2019. John Gokongwei was the son of a businessman who owned several movie theaters in the island province of Cebu. What did they talk about in that last conversation? Do you know that his nickname in Hokkien (south Fujian dialect) was Iya? Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Life was great for the Gotiaoco family until the Great Depression came, and their family fell into debt. Together, they have two children, Hannah and Jacob. This cookie is set by GDPR Cookie Consent plugin. Thus, in his teens, he began trading on the streets of Cebu. Success Story of John Gokongwei Success Story of John Gokongwei "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. Be No. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. He took a loan of 500 thousand pesos from Albino Sycip, who was the chairman of China Bank back then, and Dee K. Chiong. 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. He was a second cousin once removed of Andrew Gotianun Sr., the founder of Filinvest Development Corporation. John Gokongwei's Nine Rules of Success. His funeral was held on November 15. UIC controls Singapore Land, one of the biggest property landlords in Singapore. He also owned Robinsons Retail Holdings, Inc. and Robinsons Land Corporation. [18], Gokongwei is the chairman of the Gokongwei Brothers Foundation, the largest private sector provider of STEM scholarships in the Philippines. Wake details are private, to be shared with family and friends, the children said. John then pursued her for marriage for 4 years. That was part of the culture, so what can you complain about, he says. His nephew Patrick Henry Go, president and CEO of JG Summit Petrochemicals Group, shared a memory of witnessing an animated late afternoon meeting between his late dad Henry Go and Gokongwei on whether to further expand their diverse businesses. 1! Angkong also always gave me stock advice. However, following his fathers death, John and his family lost all their wealth. By clicking Accept, you consent to the use of ALL the cookies. 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.. He graduated valedictorian. Success Story of John Gokongwei. Fortunately, he found the light at the end of the tunnel when China Banks Dr. Albino Sycip gave him a P500,000 loan. My Angkongs journey was a journey of pure grit. His siblings then joined his business. Robina Y. Gokongwei-Pe is the eldest child John Gokongwei Jr., founder and Chairman Emeritus of the publicly-listed company JG Summit Holdings Inc. (JGSHI). His father was a scion of a wealthy Cebu-based family with ancestral ties to China's Southern Fujian province. It's hard to imagine many consumer products and services today without thinking of John Gokongwei Jr. The list was composed of four philanthropists each from 13 selected countries and territories in Asia. I admired and liked him very much. Banks seized their properties, and they fell into poverty. Doing business was easier [than chasing her down].. In my case, I have trained and carefully prepared my son Lance to be a good successor. 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. 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.). We cant depend on what we have now., Philippines 50 RichestCoverage Continues Here. - A A +. John Gokongwei was married to Elizabeth Yu from 1958 until his death in 2019. But his great-grandfather Pedro Gotiaoco had built an agricultural trading company called Gotiaoco Hermanos, a prominent business in Cebu. He and his family thus focused on manufacturing. That there was more than enough money and that they should rest already that was his argument. According to a later Manila Times recap, [T]errorized by Estradas wrath, the Gokongweis were forced to apologize to stop him and soon after sold the newspaper in a deal allegedly orchestrated by Estrada. 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]. He had been Executive Vice President of JGSHI and was elected President and Chief Operating Officer effective January 1, 2002. The partnership with Calbee, however, ended five years later as Calbee suffered losses in the Philippine market. The cookie is used to store the user consent for the cookies in the category "Other. *The quote is a wink to the Tony Stark moment with his daughter in the film Avengers: Endgame. Her twin sisters, Faith and Hope, each have management roles there. Andrew Gotianun Sr. was a distant relative of John. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. He is also President and Chief Operating Officer of URC, and JGSPC. 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. Privacy The movie theaters, cars and the big house were all seized by the banks. When your age hits 70 sometimes you feel totally ignorant, no matter how intelligent you used to be. Culture Gokongwei's eldest apo on how he gave his Angkong the biggest smile just before he died "He taught us everything that we needed to know," said eldest Gokongwei grandchild Justin Pe yesterday in his eulogy for his grandfather. , etc if he could still work up to 90, at 13, john and family... 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