John Gokongwei Jr. was a prominent Filipino businessman and philanthropist who founded JG Summit Holdings, one of the largest and most diversified conglomerates in the Philippines. He was born on August 11, 1926, in China, but his family migrated to the Philippines when he was just a year old.
Gokongwei began his entrepreneurial journey at a young age, starting with a small trading business during World War II. After the war, he expanded into other ventures, including cornstarch production, textile manufacturing, and real estate development.
In the 1960s, Gokongwei ventured into the airline industry and established Cebu Pacific Air, which grew to become one of the largest low-cost carriers in the Philippines. He also expanded his business interests to include banking, petrochemicals, telecommunications, and food manufacturing.
Under Gokongwei's leadership, JG Summit Holdings became one of the most successful and influential corporations in the Philippines, with a presence in multiple industries and a market capitalization of over $10 billion. In addition to his business accomplishments, Gokongwei was known for his philanthropy and advocacy for education, particularly through the Gokongwei Brothers Foundation, which supports various educational initiatives and scholarships.
Gokongwei passed away on November 9, 2019, at the age of 93. His legacy continues through JG Summit Holdings and his philanthropic efforts, which have made a significant impact on the Philippines and its people.
John Gokongwei Jr. was a self-made billionaire who built his business empire from scratch. He started his entrepreneurial journey as a teenager, selling roasted peanuts and other goods on the streets of Cebu City. Later, he dropped out of college to focus on his trading business, which eventually led him to establish Universal Robina Corporation (URC), one of the largest food and beverage companies in the Philippines.
Aside from URC, Gokongwei also had other major business interests, including Robinsons Land Corporation (a leading real estate developer), JG Summit Petrochemical Corporation (a producer of petrochemical products), and JG Summit Capital (an investment firm).
In addition to his business acumen, Gokongwei was known for his leadership style, which emphasized hard work, humility, and innovation. He also believed in giving back to society, and was a strong advocate for education and philanthropy.
Throughout his life, Gokongwei received numerous awards and recognition for his contributions to business and society. He was inducted into the Philippine Business Hall of Fame and was awarded the Order of Lakandula, one of the highest honors in the Philippines. He also served as an inspiration and mentor to many aspiring entrepreneurs, and was known for his willingness to share his knowledge and experience with others.
JG Summit Holdings, the company founded by John Gokongwei Jr., is one of the largest and most diversified conglomerates in the Philippines. Its business interests span various industries, including aviation, banking, real estate, food and beverage, and telecommunications.
In the aviation sector, JG Summit Holdings owns a controlling stake in Cebu Pacific Air, the largest low-cost carrier in the Philippines. The company also operates a subsidiary, Cebgo, which provides regional flights within the country.
JG Summit Holdings is also involved in the banking industry through its subsidiary, Robinsons Bank. The bank provides various financial services, including personal and business loans, credit cards, and savings accounts.
In real estate, JG Summit Holdings owns Robinsons Land Corporation, which is involved in property development, leasing, and management. The company has developed a number of commercial and residential properties across the Philippines, including shopping malls, hotels, and condominiums.
JG Summit Holdings also has interests in the food and beverage industry through its subsidiary, Universal Robina Corporation. The company produces and distributes a wide range of consumer goods, including snack foods, beverages, and personal care products.
Finally, JG Summit Holdings is involved in the telecommunications industry through its subsidiary, Digital Telecommunications Philippines (Digitel). The company provides mobile and broadband services under the brand name Sun Cellular.
Overall, JG Summit Holdings is a major player in the Philippine economy, with a diverse portfolio of businesses that have a significant impact on various sectors of the country's economy.