John gokongwei children

Filipino businessman

In this Philippine name, the middle name or maternal family name is Lim and the surname or paternal family name is Gokongwei.

In this Chinese name, the family name is 吳 (Gô͘).

John Robinson Lim Gokongwei Jr. (traditional Chinese: 吳奕輝; simplified Chinese: 吴奕辉; Pe̍h-ōe-jī: Gô͘ E̍k-hui; pinyin: Wú Yìhuī; 11 August – 9 November )^[2] was a Filipino banker, businessman, investor, and philanthropist.

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, real estate, utilities, aviation, food, beverages, and livestock farming.

Early life

Gokongwei was born in China to John Gokongwei Sr.

and Juanita Márquez Lim. His father was a scion of a wealthy Cebu-based family with ancestral ties to China's Southern Fujian province.

John l gokongwei jr biography wikipedia In commemoration of the first anniversary of his passing, we pay homage to John Gokongwei, Jr. It will host a selection of his speeches and media features on Mr. John, aside from the tributes given by his loved ones following his passing. Appearing below is an article celebrating his life and times, condensed from the original found under the Our Founder tab. John L.

His&#;great-grandfather&#;(–; simplified Chinese: 吴文𬶐; traditional Chinese: 吳文鮡; pinyin: Wú&#;Wénzhào; Pe̍h-ōe-jī: Gô͘&#;Bûn-thiâu),&#;a young peddler from China, was Hispanized&#;as&#;Pedro&#;Singson&#;Gotiaoco&#;(simplified Chinese: 吴𬶐哥; traditional Chinese: 吳鮡哥; Pe̍h-ōe-jī: Gô͘ Thiâu-ko) and became one of the Philippines' most prominent Chinese Filipinos.^[3]

Gokongwei attended the basic education department of University of San Carlos for primary school (graduating valedictorian) and high school.^[4]

The family fortune was lost after the death of his father in when Gokongwei was 13 years old and World War II (–) was just broke out.

During these difficult years, he had to make ends meet by initially supporting his family by peddling items along the streets of Cebu from his bicycle.^[5] From the years to , or between the ages of 17 and 19, he became a merchant trader using a wooden boat, taking his goods to Dalahican, Lucena by sea and then to Manila by truck.

Business career

After World War II, he started his own shipping company called Amasia Trading, which imported flour, onions, fruits, used clothing, old newspapers, and magazines from the United States into the Philippines.^{[citation needed]}

In the early s, along with his brothers and sisters who returned from China, he started to import cigarettes and whiskey too.

By , seeing that trading would always generate profit low margins^[5] and would always be dependent on the whims of government policies, the family concern shifted towards industrial manufacturing. With a loan of thousand pesos from Albino Sycip, then chairman of China Bank, and Dee K. Chiong, Gokongwei established a corn milling plant producing glucose and corn starch.

The company was named Universal Corn Products (which later evolved into hie even corporate conglomerate, Universal Robina Corporation).^[6]San Miguel Corporation was a big customer of theirs.

In , he established Consolidated Food Corporation (later known as CFC Corporation, which later merged with Universal Robina Corporation), which launched its instant coffee brand Blend

In , Gokongwei earned his Master of Business Administration from De La Salle University.

A decade later, he attended a week advanced management program at Harvard.^[5]

In November , Gokongwei incorporated JG Summit Holdings was floated as a publicly listed holding company on the Manila Stock Exchange. In March , his airline, Cebu Pacific Air began operations. In , the airline underwent major refleeting with a $3 billion order with Airbus.

Biography of john l gokongwei Glossary chinoy - Chinese who was born and raised in the Philippines taipan - enormously rich Chinoy industrialist who make it to Forbes' list of billionaires. Taipans of the Philippines Back in the day when the Chinese were racially marginalized in the Philippines post-war , most of them were poor - but they were smart and hard workers. Fast forward to this day and age, these same Chinese and their offsprings have become the economic juggernauts not just in the Philippines but on a global scale. They have become enormously wealthy - almost in just one generation. But they all share humble beginnings - selling soap in the local market, stock boy in a warehouse, factory worker, etc.

From , his telecommunications company Digital Telecommunications Philippines spent nearly $ 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 $ billion.

In , his company bought the stake of San Miguel Corporation in Meralco, Philippines's largest power distributor for close to $ billion.

In July , Universal Robina acquired Griffin's Foods from Pacific Equity Partners, a New Zealand food producer for $ million.

In , Gokongwei attempted to mastermind a $1 billion corporate takeover of United Industrial Corporation Ltd (UIC), a Singaporean property giant of which he owned in excess of 30%.

UIC controls Singapore Land, which is one of the biggest property landholders in Singapore.^[7]

He also owned Robinsons Retail Holdings, Inc. and Robinsons Land Corporation.

The Gokongwei family controls over $20 billion of combined market capitalization for all the companies they own.

John l gokongwei jr biography death

John Robinson Lim Gokongwei Jr. Gokongwei was born in China to John Gokongwei Sr. His father was a scion of a wealthy Cebu -based family with ancestral ties to China's Southern Fujian province. Gokongwei attended the basic education department of University of San Carlos for primary school graduating valedictorian and high school. The family fortune was lost after the death of his father in when Gokongwei was 13 years old and World War II — was just broke out.

In February , Forbes Asia magazine's first Heroes of Philanthropy list included four Filipinos – Gokongwei, Jaime Zobel de Ayala, Ramón del Rosario Jr. and Oscar López. The list was composed of four philanthropists each from 13 selected countries and territories in Asia.^[8]

Publications

On 29 August , 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. Gokongwei stated that entrepreneurship is a way out of poverty. Khanser's book also enumerated the Nine Rules of business success^[9] that Gokongwei followed since he was still a young businessman.

In Gokongwei donated Pmillion to the undergraduate school of management. 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).^[10]

Personal life

Gokongwei married Elizabeth Yu in and had six children (one son and five daughters) – Lisa, Robina, Lance, Faith, Hope and Marcia.^[11][12] All his children play an active role in the Gokongwei group.

John l gokongwei jr biography On this day, August 11 in the year , the founder of Philippine-based J. Summit Group of Companies was born in Amoy, China. His name was John Gokongwei, a tycoon who defied the odds to build a business empire. John Gokongwei was the son of a businessman who owned several movie theaters in the island province of Cebu. His grandfather was a wealthy immigrant from China who became the patriarch of a clan that now controls some of the largest companies in the Philippines.

His eldest daughter, Robina, heads the operations of Robinsons Retail Holdings, Inc. (she owns Robinsons Malls), as the company's COO since ^[13] His only son, Lance, currently leads the group as president and CEO of JG Summit.

He was a second cousin once removed of Andrew Gotianun Sr., the founder of Filinvest Development Corporation.^[14] Gokongwei's great-grandfather was a half brother of Gotianun's grandfather.

He is also second cousins with the Gaisano family, with Doña Modesta Singson-Gaisano being his grandaunt (his grandfather's sister) which he used to call in HokkienChinese: 老阿姑; Pe̍h-ōe-jī: Lǎu Á-ko͘; lit. 'Old Auntie', under his great-grandfather, Don Pedro Singson Gotiaoco^[15]

In addition, he was a first cousin once removed of Nikki Coseteng.

His mother was the half sister of Coseteng’s maternal grandfather.^[16]

Death

Gokongwei died in Manila on 9 November , at the age of ^[17] Exactly one week after his death, his widow Elizabeth Yu Gokongwei died at the age of ^[18][19]

See also

References

External links