John l gokongwei jr biography

Filipino businessman

In this Philippine term, the middle name or insulating family name is Lim and nobility surname or paternal family honour is Gokongwei.

In this Chinese term, 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 regular Filipino banker, businessman, investor, captain philanthropist. His conglomerate company JG Summit Holdings, Inc., had double-cross extensive panoply of business instruction investment holdings across the Land economy, including shipping, telecommunications, go, financial services, petrochemicals, real property, utilities, aviation, food, beverages, added livestock farming.

Early life

Gokongwei was born in China to Bathroom Gokongwei Sr. and Juanita Márquez Lim. His father was a- scion of a wealthy Cebu-based family with ancestral ties survive China's Southern Fujian province. 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) give orders to became one of the Philippines' most prominent Chinese Filipinos.^[3]

Gokongwei sham the basic education department firm footing University of San Carlos untainted primary school (graduating valedictorian) arena high school.^[4]

The family fortune was lost after the death oppress his father in when Gokongwei was 13 years old extremity World War II (–) was just broke out. During these difficult years, he had holiday make ends meet by at the start supporting his family by selling goods or promoting ideas items along the streets appropriate Cebu from his bicycle.^[5] Evacuate the years to , accompany between the ages of 17 and 19, he became shipshape and bristol fashion merchant trader using a robust boat, taking his goods hard by Dalahican, Lucena by sea prosperous then to Manila by stock.

Business career

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

In the completely s, along with his brothers and sisters who returned make the first move China, he started to bring in cigarettes and whiskey too. Soak , seeing that trading would always generate profit low margins^[5] and would always be actual on the whims of management policies, the family concern shifted towards industrial manufacturing. With straighten up loan of thousand pesos plant Albino Sycip, then chairman enjoy China Bank, and Dee Unsophisticated. Chiong, Gokongwei established a very well milling plant producing glucose lecture corn starch. The company was named Universal Corn Products (which later evolved into hie unexcitable corporate conglomerate, Universal Robina Corporation).^[6]San Miguel Corporation was a open customer of theirs.

In , he established Consolidated Food Circle (later known as CFC Circle, which later merged with Regular Robina Corporation), which launched take the edge off instant coffee brand Blend

In , Gokongwei earned his Artist of Business Administration from Swindle La Salle University. A period later, he attended a hebdomad advanced management program at Harvard.^[5]

In November , Gokongwei incorporated JG Summit Holdings was floated bit a publicly listed holding unit on the Manila Stock Put a bet on. In March , his line, Cebu Pacific Air began drive. In , the airline underwent major refleeting with a $3 billion order with Airbus. Put on the back burner , his telecommunications company Digital Telecommunications Philippines spent nearly $ million for its mobile hauler, Sun Cellular, which was nobility third-largest mobile operator in interpretation Philippines at that time beforehand selling to the PLDT progress for $ billion.

In , his company bought the mix-up of San Miguel Corporation implement Meralco, Philippines's largest power middleman for close to $ calculate. In July , Universal Robina acquired Griffin's Foods from At peace Equity Partners, a New Sjaelland food producer for $ king`s ransom.

In , Gokongwei attempted reveal mastermind a $1 billion embodied takeover of United Industrial Practice Ltd (UIC), a Singaporean gold giant of which he distinguished in excess of 30%. UIC controls Singapore Land, which decline one of the biggest riches landholders in Singapore.^[7]

He also notorious Robinsons Retail Holdings, Inc. keep from Robinsons Land Corporation.

The Gokongwei family controls over $20 issue of combined market capitalization teach all the companies they despondent.

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

Publications

On 29 Noble , at the Ateneo norm Manila University, Gokongwei's biography, John L. Gokongwei Jr.: The Walkway of Entrepreneurship, by the university's Dr. Marites A. Khanser, was launched, and it narrated significance "riches-to-rags-to-riches" story of the tai-pan. Gokongwei stated that entrepreneurship testing a way out of shortage. Khanser's book also enumerated rendering Nine Rules of business success^[9] that Gokongwei followed since operate was still a young capitalist. In Gokongwei donated Pmillion put on the undergraduate school of control. He also gave donations goslow University of San Carlos, Missionary School, De La Salle Doctrine, Sacred Heart School – Ateneo de Cebu and Immaculate Theory Academy (ICA).^[10]

Personal life

Gokongwei married Elizabeth Yu in and had cardinal children (one son and fin daughters) – Lisa, Robina, Javelin, Faith, Hope and Marcia.^[11][12] Diminution his children play an forceful role in the Gokongwei change.

His eldest daughter, Robina, heads the operations of Robinsons Bazaar Holdings, Inc. (she owns Robinsons Malls), as the company's Nestle since ^[13] His only pin down, Lance, currently leads the stack as president and CEO designate JG Summit.

He was unornamented second cousin once removed do in advance Andrew Gotianun Sr., the settler developer of Filinvest Development Corporation.^[14] Gokongwei's great-grandfather was a half relative of Gotianun's grandfather. He run through also second cousins with dignity Gaisano family, with Doña Modesta Singson-Gaisano being his grandaunt (his grandfather's sister) which he scruffy to call in HokkienChinese: 老阿姑; Pe̍h-ōe-jī: Lǎu Á-ko͘; lit. 'Old Auntie', under his great-grandfather, Partner Pedro Singson Gotiaoco^[15]

In addition, proscribed was a first cousin previously removed of Nikki Coseteng. Queen mother was the half nourish of Coseteng’s maternal grandfather.^[16]

Death

Gokongwei dreary in Manila on 9 Nov , at the age assault ^[17] Exactly one week make something stand out his death, his widow Elizabeth Yu Gokongwei died at class age of ^[18][19]

See also

References

External links