MANILA, Philippines – John L. Gokongwei Jr, the man who built one of the most diversified conglomerates in the Philippines, died Saturday night, November 9. He was 93.
Esquire Philippines, a Gokongwei-owned publication, reported this early Sunday, November 10, quoting a text message from Gokongwei’s only son, Lance.
“Our beloved husband, father and grandfather John Gokongwei, Jr. passed away peacefully 11:41 pm, November 9th, at the Manila Doctor's Hospital surrounded by his loved ones. Please pray for the repose of his soul. Details of his wake to follow. Rest In Peace, Mr. John,” Esquire Philippines quoted Lance Gokongwei’s message.
The 3rd richest man in the Philippines in 2019 with an estimated net worth of $5.3 billion, Gokongwei founded the Gokongwei Group of Companies, which includes the holding firm JG Summit, which is the parent firm of airline Cebu Pacific, food manufacturer Universal Robina Corporation, real estate company Robinsons Land, Robinsons Bank, JG Petrochemicals, and Global Business Power.
Besides those firms, JG summit also have stakes in the country's largest telco PLDT, the country’s largest power distributor Meralco, and the Singapore-listed United Industrial Corporation, the parent firm of Singapore Land.
Gokongwei is also the founder of Robinsons Retail Holdings Incorporated (RRHI), the second largest retailer in the country which features department stores, supermarkets, convenience stores, hardware stores, pharmacies, coffee chains, and specialty shops.
Some of the well-known brands under RRHI include Robinsons Supermarket and Department Store, Ministop, Toys'R’Us, True Value, True Home, South Star Drug, the Generics Pharmacy, Topshop, Shiseido, and Benefit.
The Management Association of the Philippines named him Named Man of the Year in 2017 “due to his business acumen and management qualities which steered the Gokongwei Group into remarkable growth through his foresight and exceptional ability to launch new ventures and transform existing ones to better adapt to challenging times and an unpredictable future.”
He was also recognized for his “leadership in making the Gokongwei’s Group a substantial contributor to national development.”
Gokongwei is survived by his wife Elizabeth, children Lance, Robina, Lisa, Faith, Hope, and Marcia, and grandchildren. – Rappler.com
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