July 21, 2016

From Riches to Rags to Riches Again: The John Gokongwei Jr. Story

  • HOME
  • Business
  • From Riches to Rags to Riches Again: The John Gokongwei Jr. Story

    Not all greats start from small beginnings. Sometimes, they are born privileged, later to be taken away from them, but succeeding once again in the future. This is John Gokongwei Jr.’s story.



    (Photo grabbed form forbes.com)


    You may have heard of Universal Robina Corporation, JG Summit Holdings, Cebu Pacific, and the Robinsons Corporation. These are all John Gokongwei Jr. ’s fruits of labor which he got from pure determination to survive.

    Gokongwei Jr. was once a scion of a wealthy Filipino-Chinese clan. He was born with a silver spoon—he was studying in one of Cebu’s premiere schools (San Carlos University), and their family was known to be one of the richest in Cebu. Unfortunately, one day, all these things he enjoyed were taken away from him when his father died. The creditor seized their home and cars, their business were gone and suddenly everything he had had disappeared.

    They became flat broke. At 15, Gokongwei Jr. had to work to provide for his family. His mother had to sell her jewelries. His siblings were sent to China where the cost of living was cheaper. He sold roasted peanuts and opened up a small stall in the market, where he had to compete with other vendors to sell his goods. He sold soap, candles, and threads to earn money.   Determined as he was, Gokongwei Jr. knew he had an advantage as he was younger, therefore he used this as a strength in his job.



    Companies comprised of JG Summit Holdings


    It was in 1943 when Gokongwei Jr.  began trading goods from Cebu to Manila. When the World War II ended, he saw this as an opportunity to trade goods in the Philippines. He put up Amasia Trading with his brother which helped bring back his siblings home to help out with the business. He then went on to pursue other business ventures: from cornstarch manufacturing, to food production, to purchasing shares in San Miguel Corporation, the then leading business in the 70s. He had a vision to make every Filipino fly thus the creation of the low-cost carrier Cebu Pacific, in 2003 he established a mobile company, in 2004 he introduced C2 beverage, and all that comprise Gokongwei Jr.’s empire, the JG Summit holdings.

    It didn’t always go smoothly—in between these success come failure. He had a hard time to get a loan, but fortunately one bank trusted him. He started getting recognized at the business scene but before that he had to fight for a position. His loss and failures were broadcasted. But still he succeeded—and is now considered as a key player when it comes to the powerful business sector.

    Now, John Gokongwei  Jr. is the second richest Filipino in 2016, according to Forbes Magazine. Aside from being a business magnate, he is also a philanthropist. And with all the businesses he owns in the country, he provides thousands of jobs to people. With his story, he hopes to inspire people to have the determination to bounce back in life without ever quitting.


    Source: Millionaire Acts; michaelyana.blogspot.com

    Recent Comments

    furry 3d sex games https://sexgamesx.net/

    6 days ago

    best free online sex games https://sex4games.com/

    7 days ago

    persuasive essay
    [url=”https://multiessay.com/?”]911 essay[/url]
    essay writing websites

    4 weeks ago

    professional essay writing https://multiessay.com/

    a month ago

    writing personal essay https://essaytodo.com/

    a month ago

    custom essays writing https://student-essay.com/

    a month ago

    mobile gambeling https://casinoonlinet.com/

    a month ago

    online casino win real money https://onlinecasinoad.com/

    a month ago

    real money casino games https://casinosonlinex.com/

    a month ago

    what to write my college essay about https://online2casino.com/

    2 months ago

    writing a comparison essay https://essaytag.com/

    2 months ago

    write an argumentative essay https://essaysnet.com/

    2 months ago

    writing literary analysis essay https://essaypoints.com/

    2 months ago

    help writing essay https://essayghostwriter.com/

    2 months ago

    free gay singles dating https://freegaychatnew.com/

    4 months ago

    las vegas gay dating https://gaydatingzz.com/

    4 months ago

    singapore gay dating website
    gay speed dating uk
    gay indian dating

    4 months ago

    episcopal gay dating
    gay dating like craigslist
    gay redneck for black dating

    4 months ago

    A beautiful and inspiring story to all the people wanting to be successful.

    9 months ago

    RIP Sir G your story remains REMARKABLE and an INSPIRATION for us adolescents ..

    2 years ago

    Rip JGJ, God Bless also very Inspiring Story 👏🏻

    2 years ago

    RIP JGJ proud cebuano here!!!

    2 years ago

    I inspire to pursue my dream…thanks for your story..

    2 years ago


    2 years ago

    Interesting yet very enticing to start with a business you dream of..

    3 years ago
    What do you think about this article?
    ★★ ★★★ ★★★★ ★★★★★


    You might also like...
    J.P. Marzan’s Marella Disinfection System Eliminates Germs and Viruses Everywhere
    BOOK NOW: fabbit Philippines Offers Free Rental Space in BGC
    Glico Philippines, Inc.
    BedandGo Real Estate