John Gokongwei

John L. Gokongwei, Jr. (April 11, 1926 Gulangyu, Xiamen, Fujian Province, China) is a Filipino businessman with holdings in telecom, financial services, petrochemicals, power, aviation and hog farming. In 2007, Gokongwei has a networth of $430 million according to Forbes. [cite web
url=http://www.forbes.com/lists/2007/86/biz_07philippines_John-Gokongwei-Jr-family_G09D.html
title=#15 John Gokongwei Jr. & Family
publisher=Forbes.com
date=2007-10-18
accessdate=2008-08-25]

He is the chairman of JG Summit Holdings, one of largest conglomerates in the Philippines. In 2005, his company had spent $700 million of internally generated funds for buying new aircraft for his airline, Cebu Pacific Air, the second largest carrier in the Philippines. From 2003 up to the present his telecom arm Digital Telecommunications Philippines spent nearly $800 million for its mobile unit Sun Cellular which is the 3rd largest mobile operator in the Philippines as of 2008. He is currently negotiating a $1 billion takeover of UIC a property giant from Singapore of which he owns in excess of 30%. UIC controls Singapore Land one of the biggest property landlord in singapore. Gokongwei also owns Universal Robina Corporation, largest manufacturer of snacks in the Philippines and the maker of the very successful C2 green tea drink in the country. He also controls Robinsons Land one of the biggest property concerns in the Philippines that operates the Robinsons Malls.

He was born into a wealthy Cebu-based family, originally from China's Fujian province. The family fortune was lost when his affluent father died. He started his business career during World War II, buying and selling rice, cloth and scrap metal. He is married, and has six children. His only son Lance Gokongwei is now in charge of the Gokongwei Empire serving as president and COO while his father serves as Chairman Emeritus.

On August 29, 2007, at the Ateneo de Manila University, Gokongwei’s book, “"John L. Gokongwei Jr.: The Path of 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 a way out of poverty. In 2002 Gokongwei donated P200-million to the undergraduate school of management.and he also made donations to University of San Carlos, Xavier School, De La Salle University, Sacred Heart School and Immaculate Conception Academy. [ [http://business.inquirer.net/money/breakingnews/view_article.php?article_id=86043 Inquirer.net, A way out of poverty, according to ‘Mr. John’] ]

On February, 2008,Forbes Asia magazine’s first Heroes of Philanthropy list included 4 Filipinos - Jaime Zobel de Ayala, John Gokongwei, Ramon del Rosario Jr., and Oscar Lopez.The list is composed of 4 philanthropists each from 13 selected countries and territories in Asia. [ [http://www.abs-cbnnews.com/storypage.aspx?StoryId=110683 www.abs-cbnnews.com, 4 Filipinos in New Forbes Heroes List] ]

John Gokongwei and fellow businessman Andrew Gotianun are cousins. [cite web
url=http://www.manilastandardtoday.com/iserver?page=business4_jan12_2007
title=SGV boys stir up KPMG kerfuffle
publisher=Manila Standard Today
date=January 12, 2007
accessdate=2008-09-04]

External links

* [http://www.forbes.com/lists/2005/09/07/southeast-asia-richest-cz_05sealand_35.html Forbes.com - Southeast Asia's Richest - John Gokongwei]
* [http://www.asiaweek.com/asiaweek/97/0404/biz1.html Dad and me]

ee also

*Universal Robina
*JG Summit Holdings

References