John Gokongwei: Difference between revisions
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On February, 2008, [[Forbes]] Asia magazine’s first Heroes of [[Philanthropy]] list included 4 Filipinos – [[Jaime Zobel de Ayala]], John Gokongwei, Ramón del Rosario Jr., and Óscar López.The list is composed of 4 philanthropists each from 13 selected countries and territories in Asia.<ref>[http://www.abs-cbnnews.com/storypage.aspx?StoryId=110683 www.abs-cbnnews.com, 4 Filipinos in New Forbes Heroes List]</ref> |
On February, 2008, [[Forbes]] Asia magazine’s first Heroes of [[Philanthropy]] list included 4 Filipinos – [[Jaime Zobel de Ayala]], John Gokongwei, Ramón del Rosario Jr., and Óscar López.The list is composed of 4 philanthropists each from 13 selected countries and territories in Asia.<ref>[http://www.abs-cbnnews.com/storypage.aspx?StoryId=110683 www.abs-cbnnews.com, 4 Filipinos in New Forbes Heroes List]</ref> |
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⚫ | John Gokongwei and fellow businessman [[Andrew Gotianun]] are distant cousins.<ref>{{cite web|url=http://www.manilastandardtoday.com/iserver?page=business4_jan12_2007 |title=SGV boys stir up KPMG kerfuffle |publisher=Manila Standard Today |date=January 12, 2007 |accessdate=2008-09-04 |deadurl=yes |archiveurl=https://web.archive.org/20090125103228/http://www.manilastandardtoday.com:80/iserver?page=business4_jan12_2007 |archivedate=January 25, 2009 }}</ref> Gokongwei's great-grandfather was a half brother of Gotianun's grandfather.<ref>{{cite news|last1=Flores|first1=Wilson Lee|title=The secret father of President Sergio Osmeña & forebear of John Gokongwei, Jr., Gaisanos, Gotianuns|url=http://www.philstar.com/sunday-life/585465/secret-father-president-sergio-osme%C3%A3%C2%B1a-forebear-john-gokongwei-jr-gaisanos|accessdate=11 October 2015|date=20 June 2010}}</ref> |
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John Gokongwei and fellow businessman [[Andrew Gotianun]] are distant cousins.<ref>{{cite web |
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|url=http://www.manilastandardtoday.com/iserver?page=business4_jan12_2007 |
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|title=SGV boys stir up KPMG kerfuffle |
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|publisher=Manila Standard Today |
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|date=January 12, 2007 |
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==External links== |
==External links== |
Revision as of 00:06, 18 February 2016
John Gokongwei, Jr. | |
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Born | Go Ek-hui August 11, 1926 |
Nationality | Filipino |
Education | De La Salle University |
Occupation(s) | Owner of Robinsons Malls Chairman of JG Summit Holdings |
Spouse | Elizabeth Yu (1958-present) |
Children | Liza Gokongwei Robina Gokongwei Lance Gokongwei Faith Gokongwei Hope Gokongwei Marcia Gokongwei |
Parent(s) | John Gokongwei, Sr. (Go Kong Wei) Juanita Marquez Lim |
John Robinson Lim Gokongwei, Jr. (traditional Chinese: 吳奕輝; simplified Chinese: 吴奕辉; pinyin: Wú Yìhuī; Pe̍h-ōe-jī: Gô͘ E̍k-hui; born Go Ek-hui on August 11, 1926) is a Filipino business magnate, investor, and philanthropist. He has holdings in telecommunications, financial services, petrochemicals, power generation, aviation and live stock farming. As of 2015, Gokongwei is the second richest entrepreneur in the Philippines, with a net worth of over $5 billion, ranking behind Henry Sy.[1]
Profile
He is the chairman of JG Summit Holdings, one of the largest conglomerates in the Philippines. In 2010, his company signed a $3billion order with Airbus for refleeting of his airline, Cebu Pacific Air. From 2003 his telecom company Digital Telecommunications Philippines spent nearly $800 million for its mobile carrier, Sun Cellular which is the 3rd largest mobile operator in the Philippines at that time before selling to the PLDT group for $1.7 billion. He attempted a $1 billion takeover of UIC, a property giant from Singapore of which he owned in excess of 30%. UIC controls Singapore Land, one of the biggest property landlord in Singapore.
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.
Gokongwei also owns Universal Robina Corporation, one of the largest manufacturer of snacks in Southeast Asia. In July 2014, URC acquired Griffin's Foods from Pacific Equity Partners, a New Zealand food company for $609 million.
He also controls Robinsons Land, one of the biggest property developers in the Philippines, which also operates a chain of malls. The Gokongwei Family controls over $20 billion of combined market capitalization for all the companies they own.
Life
John Gokongwei was born 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. His patrilineal great-grandfather was Don Pedro Lee Gotiaoco, a wealthy Chinese immigrant tycoon who was once the largest taxpayer in Cebu.[2] The family fortune was lost when his affluent father died. John was 13 years old at this time. He initially supported his family by peddling items along the streets of Cebu from his bicycle.[3] From the age of 17 to 19, he traded using a wooden boat, taking items to Lucena by sea, and then to Manila by truck. After the Second World War, he started his own company called Amasia, which imported textile remnants, fruit, old newspapers, magazines, and used clothing from the US. During this time, he courted a young girl, Elizabeth, who would later become his wife. In the early 1950s, along with his brothers and sisters who returned from China, he started to import cigarettes and whiskey too.
In 1957, seeing that trading would always have low margins[3] and would always be dependent on government policies, the family concern entered the era of manufacturing. With a loan of 500,000 pesos from Dr. Albino Sycip, then chairman of China Bank, and DK Chiong, he started a corn milling plant producing glucose and corn starch. The company was named Universal Corn Products and later expanded into Universal Robina Corporation.[4] San Miguel Corporation was a big customer of theirs.
In 1961, as his company started to launch brands such as Blend 45 (an instant coffee brand, to compete with Nestle's Nescafe), John returned to school to study and obtain an MBA at the De La Salle University. A decade later, he underwent a 14-week advanced management program at Harvard.[3]
He is married to Elizabeth Yu, and has six children (1 son and 5 daughters) - Lisa, Robina, Lance, Faith, Hope and Marcia.[5] All his children play an active role in the Gokongwei empire and companies owned by JG Holdings. His only son, Lance Gokongwei, is now in charge of the Gokongwei Empire, serving as president and COO while John serves as chairman emeritus.
On August 29, 2007, 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[6] that Gokongwei followed since he was still a young businessman. In 2002 Gokongwei donated P200-million to the undergraduate school of management. He also gave donations to University of San Carlos, Xavier School, De La Salle University, Sacred Heart School and Immaculate Conception Academy.[7]
On February, 2008, Forbes Asia magazine’s first Heroes of Philanthropy list included 4 Filipinos – Jaime Zobel de Ayala, John Gokongwei, Ramón del Rosario Jr., and Óscar López.The list is composed of 4 philanthropists each from 13 selected countries and territories in Asia.[8]
John Gokongwei and fellow businessman Andrew Gotianun are distant cousins.[9] Gokongwei's great-grandfather was a half brother of Gotianun's grandfather.[10]
External links
- Dad and me
- Lessons on Entrepreneurship from John Gokongwei's Life
- John Gokongwei Speech to the 20th AD Congress
See also
References
- ^ "The Philippine' 40 Riches". Forbes.com. 2015. Retrieved 2015-11-16.
- ^ Flores, Wilson Lee (20 June 2010). "The secret father of President Sergio Osmeña & forebear of John Gokongwei, Jr., Gaisanos, Gotianuns". Retrieved 11 October 2015.
- ^ a b c "Speech delivered last March 1, 2002 during the launch of the Ateneo de Manila University John Gokongwei School of Management". JG Summit Holdings Inc webpage. Retrieved 6 January 2014.
- ^ "Our History". Universal Robina corporation. Retrieved 6 January 2014.
- ^ Gonzalez, Bianca (1 September 2013). "Publishing mogul Lisa Gokongwei-Cheng's dream: To own a tiny bookstore". The Philippine Star. Retrieved 6 January 2014.
- ^ Gokongwei's Nine Rules of Business Success
- ^ Inquirer.net, A way out of poverty, according to ‘Mr. John’
- ^ www.abs-cbnnews.com, 4 Filipinos in New Forbes Heroes List
- ^ "SGV boys stir up KPMG kerfuffle". Manila Standard Today. January 12, 2007. Archived from the original on January 25, 2009. Retrieved 2008-09-04.
{{cite web}}
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suggested) (help) - ^ Flores, Wilson Lee (20 June 2010). "The secret father of President Sergio Osmeña & forebear of John Gokongwei, Jr., Gaisanos, Gotianuns". Retrieved 11 October 2015.
- 1926 births
- Living people
- Ateneo de Manila University alumni
- Businesspeople in aviation
- Businesspeople in real estate
- Businesspeople in retailing
- Businesspeople in telecommunications
- Filipino billionaires
- Filipino businesspeople
- Filipino people of Chinese descent
- JG Summit Holdings
- People from Cebu
- Harvard Business School alumni