John Gokongwei

John Mari Y. de Ocampo 7G-07

I chose Mr. John L. Gokongwei because he came from a rich family but when his father died his

family lost all their riches and became poor. But Mr. Gokongwei had determination to earn

money and worked hard for his family. And he became the third richest entrepreneur in the

Philippines. I admire him because he is a hardworking, kind, loving, charitable and humble

person even though he is the third riches person in the Philippines.

John L. Gokongwei, Jr. (born August 11, 1926in Gulangyu, Xiamen,Fujian Province, China) is

a Chinese Filipino businessman with holdings in telecommunications, financial services,

petrochemicals, power generation, aviation and live stock farming. 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, clothing 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. He is the chairman of JG Summit Holdings, one of the

largest conglomerates in the Philippines. In 2005, his company spent $700 million of internally
generated funds which was used to buy new aircrafts for his airline, Cebu Pacific Air. From 2003

up to the present his telecom company Digital Telecommunications Philippines spent nearly

$800 million for its mobile carrier, 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,

one of the largest manufacturer of snacks in the Philippines. He also controls Robinsons Land

one of the biggest property developers in the Philippines which also operates a chain of malls.

On August 29, 2007, at the Ateneo de Manila University, Gokongweis biography, John L.

Gokongwei Jr.: The Path of Entrepreneurship by the Universitys 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. And he said There goes the principle of self-determination, again. I tell you, it works

for individuals as it does for companies. And as I firmly believe, it works for nations. I have

always wondered, like many of us, why we Filipinos have not lived up to our potential. To be a
truly great nation, we must also excel as entrepreneurs before the world. We must create Filipino

brands for the global market place. Yes, our government may not be perfect, and our economic

environment

not ideal, but true entrepreneurs will find opportunities anywhere. And his famous quote Be an

entrepreneur!

Chinese-Filpino entrepreneurs notably the Taipans, are openly challenging the dominance of the

countrys traditional economic elite led by Filipinos of Spanish-descent.

Entrepreneurs are probably lucky because they cultivate good countenance and intense

credibility. When you keep on doing business honorably, you end up becoming more likable and

luckier each time you need luck on your side.

Entrepreneurship is a calling. Gokongwei says what propels me is not the money I made,

although that has been great. Nor is it even the satisfaction of helping my countrymen.

Entrepreneurship, for me, is a path to a life lived to the fullest. It is a road strewn with

challenges that constantly tested my character. For those who want a life of adventure, this is it.

SOURCES
Overseas Chinese entrepreneurship and capitalist development in Southeast Asia

By Annabelle R. Gambe

http://www.mightyrasing.com/entrepreneurship/john-gokongwei-jr-biography-lessons-in-

entrepreneurship/

http://www.forbes.com/lists/2010/86/philippines-10_John-Gokongwei-Jr_G09D.html

http://business.inquirer.net/money/breakingnews/view/20070901-

86043/A_way_out_of_poverty%2C_according_to_%91Mr._John%92

http://www.millionaireacts.com/772/gokongwei-success-story.html