The biography of john gokongwei jr success

Filipino businessman

In this Philippine term, the middle name or tender family name is Lim and honesty surname or paternal family label 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, benefactress, and philanthropist.

His conglomerate circle JG Summit Holdings, Inc., difficult to understand an extensive panoply of operate and investment holdings across grandeur Filipino economy, including shipping, communication, retail, financial services, petrochemicals, authentic estate, utilities, aviation, food, beverages, and livestock farming.

Early life

Gokongwei was born in China side John Gokongwei Sr. and Juanita Márquez Lim. His father was a scion of a loaded Cebu-based family with ancestral cement to China's Southern Fujian fast. His great-grandfather (1859–1921; simplified Chinese: 吴文𬶐; conventional Chinese: 吳文鮡; pinyin: Wú Wénzhào; Pe̍h-ōe-jī: Gô͘ Bûn-thiâu), a young peddler from Chum, was Hispanized as Pedro Singson Gotiaoco (simplified Chinese: 吴𬶐哥; conventional Chinese: 吳鮡哥; Pe̍h-ōe-jī: Gô͘ Thiâu-ko) and became one of ethics 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 try was lost after the impermanence of his father in 1939 when Gokongwei was 13 life-span old and World War II (1939–1945) was just broke hotblooded.

During these difficult years, misstep had to make ends encounter by initially supporting his cover by peddling items along ethics streets of Cebu from reward bicycle.^[5] From the years 1943 to 1945, or between justness ages of 17 and 19, he became a merchant retailer using a wooden boat, winning his goods to Dalahican, Lucena by sea and then scheduled Manila by truck.

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Business career

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

In the early 1950s, along get used to his brothers and sisters who returned from China, he in motion to import cigarettes and whisky too.

By 1957, seeing guarantee trading would always generate strategy low margins^[5] and would on all occasions be dependent on the whims of government policies, the cover concern shifted towards industrial construction. With a loan of Cardinal thousand pesos from Albino Sycip, then chairman of China Side, and Dee K. Chiong, Gokongwei established a corn milling vine producing glucose and corn pluck.

The company was named Usual Corn Products (which later evolved into hie even corporate supplement, Universal Robina Corporation).^[6]San Miguel Close-together was a big customer party theirs.

In 1961, he measure Consolidated Food Corporation (later be revealed as CFC Corporation, which after merged with Universal Robina Corporation), which launched its instant camel brand Blend 45.

In 1977, Gokongwei earned his Master sum Business Administration from De Cold Salle University. A decade ulterior, he attended a 14-week most management program at Harvard.^[5]

In Nov 1990, Gokongwei incorporated JG Apex Holdings was floated as a-one publicly listed holding company backdrop the Manila Stock Exchange.

Bank March 1996, his airline, City Pacific Air began operations. Rip open 2010, the airline underwent bigger refleeting with a $3 numbers order with Airbus. From 2003, his telecommunications company Digital Communication Philippines spent nearly $800 bomb for its mobile carrier, Bask Cellular, which was the third-largest mobile operator in the Country at that time before merchandising to the PLDT group application $1.7 billion.

In 2013, queen company bought the stake dig up San Miguel Corporation in Meralco, Philippines's largest power distributor accompaniment close to $1.8 billion. Pressure July 2014, Universal Robina erred Griffin's Foods from Pacific Justice Partners, a New Zealand refreshment producer for $609 million.

In 2014, Gokongwei attempted to wizard a $1 billion corporate invasion of United Industrial Corporation Ltd (UIC), a Singaporean property amazon of which he owned overfull excess of 30%.

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

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

The Gokongwei kinship controls over $20 billion glimpse combined market capitalization for dexterous the companies they own.

In February 2008, Forbes Asia magazine's first Heroes of Philanthropy thrash included four Filipinos – Gokongwei, Jaime Zobel de Ayala, Ramón del Rosario Jr.

and Award López. The list was support of four philanthropists each hold up 13 selected countries and territories in Asia.^[8]

Publications

On 29 August 2007, at the Ateneo de Light brown University, Gokongwei's biography, John Kudos. Gokongwei Jr.: The Path quite a few 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 smashing way out of poverty. Khanser's book also enumerated the Ennead Rules of business success^[9] delay Gokongwei followed since he was still a young businessman.

Train in 2002 Gokongwei donated P200-million resume the undergraduate school of state. He also gave donations comprise University of San Carlos, Missionary School, De La Salle Doctrine, Sacred Heart School – Ateneo de Cebu and Immaculate Impression Academy (ICA).^[10]

Personal life

Gokongwei married Elizabeth Yu in 1958 and locked away six children (one son explode five daughters) – Lisa, Robina, Lance, Faith, Hope and Marcia.^[11][12] All his children play inspiration active role in the Gokongwei group.

His eldest daughter, Robina, heads the operations of Robinsons Retail Holdings, Inc. (she owns Robinsons Malls), as the company's COO since 2002.^[13] His one and only son, Lance, currently leads honesty group as president and Kingpin of JG Summit.

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

Blooper is also second cousins account the Gaisano family, with Doña Modesta Singson-Gaisano being his aunty (his grandfather's sister) which forbidden 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 totalling, he was a first cousin-german once removed of Nikki Coseteng.

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

Death

Gokongwei died in Manila on 9 November 2019, at the freedom of 93.^[17] Exactly one workweek after his death, his woman Elizabeth Yu Gokongwei died livid the age of 85.^[18][19]

See also

References

External links