John Gokongwei Jr., one of the business tycoons in the Philippines, died Sunday at the Manila Doctors Hospital. He was 93 years old.
John Gokongwei Jr. became the third richest tycoons in the Philippines with an estimated net worth of $5.3 billion. He was the founder of JG Summit, which is one of the country’s top conglomerates.
According to the conglomerate, Gokongwei’s wake will be held at the Heritage Park in Taguig City on November 11-14. The funeral mass for the late tycoon is scheduled on November 15 at 8:00 p.m.
“We, the 75,000-strong employees of JG Summit Holdings and Robinsons Retail Holdings, join the nation in paying tribute to the founder of the first Philippine multinational conglomerate, a philanthropist with a passion for education,” JG Summit Holdings said in a statement. “Mr. John, as we fondly called him, was a visionary. He was an inspiration to entrepreneurs and businessmen, with his pioneering ideas, his strong work ethic, his passions, and perseverance.“
Before Gokongwei’s death, he turned over the power of his holding company to his son, Lance. Lance will then serve as a president and chief executive officer of JG Summit; while his brother, James L. Go, is the chairman of the conglomerate.
John left behind his wife, Elizabeth; his children Robina, Lance, Lisa, Faith, Hope and Marcia; his siblings; and his grandchildren.
Meanwhile, the Malacañang Palace expressed their sympathies to the family of the late Gokongwei Jr.
“The Palace expresses its deep condolences to the family, the surviving wife Elizabeth, children Lance, Robina, Lisa, Faith, Hope and Marcia, friends and colleagues of Mr. John Gokongwei, Jr.,” SPOX Salvador Panelo said in a statement.
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