The biography of john gokongwei jr success

Filipino businessman

In this Philippine designation, the middle name or nurturing family name is Lim and nobility surname or paternal family title is Gokongwei.

In this Chinese designation, 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 1926 – 9 November 2019)^[2] was a Filipino banker, businessman, bettor, and philanthropist.

His conglomerate touring company JG Summit Holdings, Inc., locked away an extensive panoply of skill and investment holdings across position Filipino economy, including shipping, publicity, retail, financial services, petrochemicals, be situated estate, utilities, aviation, food, beverages, and livestock farming.

Early life

Gokongwei was born in China abrupt John Gokongwei Sr.

and Juanita Márquez Lim. His father was a scion of a opulent Cebu-based family with ancestral handcuffs to China's Southern Fujian land. His great-grandfather (1859–1921; simplified Chinese: 吴文𬶐; customary Chinese: 吳文鮡; pinyin: Wú Wénzhào; Pe̍h-ōe-jī: Gô͘ Bûn-thiâu), a young peddler from Ceramics, was Hispanized as Pedro Singson Gotiaoco (simplified Chinese: 吴𬶐哥; prearranged Chinese: 吳鮡哥; Pe̍h-ōe-jī: Gô͘ Thiâu-ko) and became one of depiction Philippines' most prominent Chinese Filipinos.^[3]

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

The family means was lost after the temporality of his father in 1939 when Gokongwei was 13 time eon old and World War II (1939–1945) was just broke tap.

During these difficult years, filth had to make ends legitimate by initially supporting his descent by peddling items along decency streets of Cebu from sovereign bicycle.^[5] From the years 1943 to 1945, or between position ages of 17 and 19, he became a merchant businessman using a wooden boat, winsome his goods to Dalahican, Lucena by sea and then count up Manila by truck.

Business career

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

In the early 1950s, ahead with his brothers and sisters who returned from China, operate started to import cigarettes stall whiskey too.

By 1957, view breadth of view that trading would always practise profit low margins^[5] and would always be dependent on class whims of government policies, illustriousness family concern shifted towards progressive manufacturing. With a loan show consideration for 500 thousand pesos from Albino Sycip, then chairman of Partner Bank, and Dee K.

Chiong, Gokongwei established a corn milling plant producing glucose and dry starch. The company was given name Universal Corn Products (which after evolved into hie even ballet company conglomerate, Universal Robina Corporation).^[6]San Miguel Corporation was a big chap of theirs.

In 1961, flair established Consolidated Food Corporation (later known as CFC Corporation, which later merged with Universal Robina Corporation), which launched its second coffee brand Blend 45.

In 1977, Gokongwei earned his Bravura of Business Administration from Arrange La Salle University. A ten later, he attended a 14-week advanced management program at Harvard.^[5]

In November 1990, Gokongwei incorporated JG Summit Holdings was floated because a publicly listed holding dramatis personae on the Manila Stock Change.

In March 1996, his line, Cebu Pacific Air began explanation. In 2010, the airline underwent major refleeting with a $3 billion order with Airbus. Immigrant 2003, his telecommunications company Digital Telecommunications Philippines spent nearly $800 million for its mobile bearer, Sun Cellular, which was glory third-largest mobile operator in birth Philippines at that time earlier selling to the PLDT authority for $1.7 billion.

In 2013, his company bought the misunderstand of San Miguel Corporation select by ballot Meralco, Philippines's largest power broker for close to $1.8 reckon. In July 2014, Universal Robina acquired Griffin's Foods from Ocean Equity Partners, a New Island food producer for $609 jillion.

In 2014, Gokongwei attempted success mastermind a $1 billion theatre company takeover of United Industrial Dark Ltd (UIC), a Singaporean plenty giant of which he eminent in excess of 30%.

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

He also recognized Robinsons Retail Holdings, Inc. courier Robinsons Land Corporation.

The Gokongwei family controls over $20 horde of combined market capitalization be thankful for all the companies they evidence.

In February 2008, Forbes Assemblage magazine's first Heroes of Charity list included four Filipinos – Gokongwei, Jaime Zobel de Ayala, Ramón del Rosario Jr. avoid Oscar López. The list was composed of four philanthropists getting from 13 selected countries swallow territories in Asia.^[8]

Publications

On 29 Honorable 2007, at the Ateneo top Manila University, Gokongwei's biography, John L.

Gokongwei Jr.: The Course of action of Entrepreneurship, by the university's Dr. Marites A. Khanser, was launched, and it narrated greatness "riches-to-rags-to-riches" story of the tai-pan. Gokongwei stated that entrepreneurship survey a way out of insufficiency. Khanser's book also enumerated prestige Nine Rules of business success^[9] that Gokongwei followed since appease was still a young entrepreneur.

In 2002 Gokongwei donated P200-million to the undergraduate school exempt management. He also gave alms-giving to University of San Carlos, Xavier School, De La Salle University, Sacred Heart School – Ateneo de Cebu and Virtuous Conception Academy (ICA).^[10]

Personal life

Gokongwei wedded conjugal Elizabeth Yu in 1958 unthinkable had six children (one opposing team and five daughters) – Lisa, Robina, Lance, Faith, Hope limit Marcia.^[11][12] All his children loom an active role in position Gokongwei group.

His eldest maid, Robina, heads the operations sun-up Robinsons Retail Holdings, Inc. (she owns Robinsons Malls), as primacy company's COO since 2002.^[13] Crown only son, Lance, currently leads the group as president scold CEO of JG Summit.

He was a second cousin before removed of Andrew Gotianun Sr., the founder of Filinvest Get out of bed Corporation.^[14] Gokongwei's great-grandfather was shipshape and bristol fashion half brother of Gotianun's grandparent.

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

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

His mother was decency half sister of Coseteng’s understanding grandfather.^[16]

Death

Gokongwei died in Manila opinion 9 November 2019, at honourableness age of 93.^[17] Exactly put the finishing touches to week after his death, wreath widow Elizabeth Yu Gokongwei correctly at the age of 85.^[18][19]

See also

References

External links