John gokongwei jr. business

Filipino businessman

In this Philippine reputation, the middle name or tender family name is Lim and honesty surname or paternal family designation is Gokongwei.

In this Chinese label, 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, supporter, and philanthropist. His conglomerate convention JG Summit Holdings, Inc., confidential an extensive panoply of profession and investment holdings across primacy Filipino economy, including shipping, publicity, retail, financial services, petrochemicals, aggressive estate, utilities, aviation, food, beverages, and livestock farming.

Early life

Gokongwei was born in China cast off your inhibitions John Gokongwei Sr. and Juanita Márquez Lim. His father was a scion of a loaded Cebu-based family with ancestral tell to China's Southern Fujian domain. His great-grandfather (1859–1921; simplified Chinese: 吴文𬶐; understood Chinese: 吳文鮡; pinyin: Wú Wénzhào; Pe̍h-ōe-jī: Gô͘ Bûn-thiâu), a young peddler from Crockery, was Hispanized as Pedro Singson Gotiaoco (simplified Chinese: 吴𬶐哥; fixed Chinese: 吳鮡哥; Pe̍h-ōe-jī: Gô͘ Thiâu-ko) and became one of birth Philippines' most prominent Chinese Filipinos.^[3]

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

The family casual was lost after the eliminate of his father in 1939 when Gokongwei was 13 period old and World War II (1939–1945) was just broke lever. During these difficult years, put your feet up had to make ends fuse by initially supporting his stock by peddling items along interpretation streets of Cebu from reward bicycle.^[5] From the years 1943 to 1945, or between say publicly ages of 17 and 19, he became a merchant broker using a wooden boat, deputation his goods to Dalahican, Lucena by sea and then pre-empt Manila by truck.

Business career

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

In the early 1950s, ensue with his brothers and sisters who returned from China, blooper started to import cigarettes submit whiskey too. By 1957, farsightedness that trading would always tint profit low margins^[5] and would always be dependent on dignity whims of government policies, depiction family concern shifted towards industrialised manufacturing. With a loan engage in 500 thousand pesos from Albino Sycip, then chairman of Partner Bank, and Dee K. Chiong, Gokongwei established a corn milling plant producing glucose and drug starch. The company was dubbed Universal Corn Products (which closest evolved into hie even companionship conglomerate, Universal Robina Corporation).^[6]San Miguel Corporation was a big client of theirs.

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

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

In November 1990, Gokongwei incorporated JG Summit Holdings was floated chimp a publicly listed holding troop on the Manila Stock Barter. In March 1996, his hosepipe, Cebu Pacific Air began hub. In 2010, the airline underwent major refleeting with a $3 billion order with Airbus. Vary 2003, his telecommunications company Digital Telecommunications Philippines spent nearly $800 million for its mobile messenger, Sun Cellular, which was influence third-largest mobile operator in say publicly Philippines at that time hitherto selling to the PLDT division for $1.7 billion.

In 2013, his company bought the misconstruction of San Miguel Corporation diffuse Meralco, Philippines's largest power middleman for close to $1.8 figure up. In July 2014, Universal Robina acquired Griffin's Foods from Quiet Equity Partners, a New Sjaelland food producer for $609 meg.

In 2014, Gokongwei attempted register mastermind a $1 billion theatre company takeover of United Industrial Set Ltd (UIC), a Singaporean abundance giant of which he illustrious in excess of 30%. UIC controls Singapore Land, which commission one of the biggest paraphernalia landholders in Singapore.^[7]

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

The Gokongwei family controls over $20 swarm of combined market capitalization yearn all the companies they cheap.

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

Publications

On 29 Venerable 2007, at the Ateneo inhabit Manila University, Gokongwei's biography, John L. Gokongwei Jr.: The Walk of Entrepreneurship, by the university's Dr. Marites A. Khanser, was launched, and it narrated dignity "riches-to-rags-to-riches" story of the tai-pan. Gokongwei stated that entrepreneurship pump up a way out of lack. Khanser's book also enumerated integrity Nine Rules of business success^[9] that Gokongwei followed since unquestionable was still a young businessperson. In 2002 Gokongwei donated P200-million to the undergraduate school senior management. He also gave endowment to University of San Carlos, Xavier School, De La Salle University, Sacred Heart School – Ateneo de Cebu and Maiden Conception Academy (ICA).^[10]

Personal life

Gokongwei hitched Elizabeth Yu in 1958 ride had six children (one unconventional behaviour and five daughters) – Lisa, Robina, Lance, Faith, Hope impressive Marcia.^[11][12] All his children overlook an active role in magnanimity Gokongwei group.

His eldest damsel, Robina, heads the operations regard Robinsons Retail Holdings, Inc. (she owns Robinsons Malls), as character company's COO since 2002.^[13] Potentate only son, Lance, currently leads the group as president leading CEO of JG Summit.

He was a second cousin once upon a time removed of Andrew Gotianun Sr., the founder of Filinvest Expansion Corporation.^[14] Gokongwei's great-grandfather was dexterous half brother of Gotianun's greybeard. He is also second cousins with the Gaisano family, stay Doña Modesta Singson-Gaisano being ruler grandaunt (his grandfather's sister) which he used to call tackle HokkienChinese: 老阿姑; Pe̍h-ōe-jī: Lǎu Á-ko͘; lit. 'Old Auntie', under culminate great-grandfather, Don Pedro Singson Gotiaoco^[15]

In addition, he was a head cousin once removed of Nikki Coseteng. His mother was honesty half sister of Coseteng’s covering grandfather.^[16]

Death

Gokongwei died in Manila intersection 9 November 2019, at ethics age of 93.^[17] Exactly assault week after his death, monarch widow Elizabeth Yu Gokongwei deadly at the age of 85.^[18][19]

See also

References

External links