The Journey of John Gokongwei Jr.

DISCOVERY:
John was the eldest child in his family. He had four brothers—Henry, Johnson, Eddie, and James
—and a sister named Lily. They lived in a big house with a garden in Cebu. Their father John
Gokongwei Sr. owned a chain of movie theaters in the city, which allowed the younger John to
enjoy movies for free. But when their father passed away, the life they had known changed
drastically. The family didn't have enough money to pay the debts Gokongwei Sr. owed to a lot
of people. As a result, their chain of movie theaters was taken away. Their big house with a
garden, too. Gokongwei Jr. was only 13, but he knew he had to grow up fast, take charge, and
help his mother put their lives back on track. His mother sold all of her jewelry to generate funds.
She also sent John's siblings to China, a tough decision she had to make because their relatives
could better afford to take care of them over there than she could in Cebu

Money wasn't abundant, but the young John and his mother made do. They sold fresh, hot
peanuts and garlic. It was wartime, but that didn't stop the budding businessman from pursuing
this new path and expanding the products he and his mother were selling. Young John would
wake up extra early and bike his way to the public market every morning. He would then set up a
small table to sell spools of thread, bars of soap, and sticks of candles side by side with much
senior vendors, but that didn't intimidate him. The future billionaire earned "about 20 pesos a
day" from his makeshift business. When John heard there were greater business opportunities in
Manila, the aspiring businessman made his

So, at the age of 13, he started selling peanuts in the streets to send money to his family in China.
He soon realized he could do more if he had a bicycle. So, he saved up and was able to reach
nearby towns to sell it.

DEVELOPMENT OF THE CONCEPT:

When John heard there were greater business opportunities in Manila, the aspiring businessman
made his way to the capital to sell his wares.
He rode a "batel," a boat described to have "the length of two cars put together." This made
traveling by sea quite tiresome and very slow. On a windless day, it would take two weeks to
make it to Manila. If not, the boat would make a five-day trip to Lucena, Quezon. From
there, the passengers rode a truck for the six-hour trip to the big city. John made full use of his
time during the long boat ride reading books that increased his knowledge of the world around
him. From then on, education would become his life-long advocacy. An accident during the long
hours at sea also gave John a valuable life-saving lesson he would never forget. One rough day,
the boat John rode hit a huge rock and sunk, throwing all passengers out into the open sea. They
lost their belongings, but the pile of car tires John was going to sell in Manila stayed afloat and
served as lifesavers for everyone. Later, as a precocious businessman starting new ventures, he
would be reminded of that harrowing experience at sea.
John L. Gokongwei, Jr. devoted much of his life to making the lives of all Filipinos better. From
offering the first locally made branded snacks to presenting a wide array of value-for-money
lifestyle choices, his unparalleled entrepreneurial vision was the driving force behind JG
Summit’s rise, enabling it to becoming one of the largest and most highly diversified business
conglomerates in the country. A pioneering entrepreneur, industrialist, and philanthropist, Mr.
John, as he was fondly called, was the quintessential business tycoon. Through hard work,
creativity, and passion, he became a paragon of success in business and industry, and a true role
model for aspiring entrepreneurs everywhere.

At the age of 17, Big John rediscovered his family’s love for trading and expanded his business.
Using a small boat, he would trade goods from Cebu to Manila and vice versa. This was very
tiring, but he endured it all to send his siblings to school in China. After the war, Big John took it
as a good opportunity to expand his trading business abroad. He built his first company, Amasia
Trading, which sold and bought goods in the United States, Manila, and the Visayan region.

ORGANIZING RESOURCES:
Determined to start a bigger business in Manila, John was helped by his siblings. They had
returned from China to continue their studies in the Philippines, and they were old enough to
lend John some hand around his shop after their school. The Second World War had also ended.
John began to notice that "not many people were selling things, and many more people were
looking for things to buy." Right then and there, a light bulb lit up in John's head. John and his
siblings turned their apartment into a warehouse filled with "sacks of onions and oranges." They
brought "all sort of products from the United States: old newspapers and magazines, bits of
fabric, and used clothing that smelled of mothballs." The business was a success. People kept
buying from their warehouse because the products they were selling were not found anywhere
else.

With the success of his Amasia trading, Big John reunited with his family back in the
Philippines. Together, the siblings worked in their father’s family business, American-Asia
Trading. Big John found an interest in the cornstarch business but didn’t have enough funds. He
tried to ask for a loan from several banks but to no avail. Fortunately, he found the light at the
end of the tunnel when China Bank’s Dr. Albino Sycip gave him a P500,000 loan.

IMPLEMENTATION:
With his money, Big John founded his cornstarch manufacturing company, Universal Corn
Products, in 1954. This, later on, became Universal Robina Corporation (URC) when it ventured
into other finished goods. From there, John had another brainstorm: why not make the products
we sell? His idea planted the roots that would grow and flourish as the Universal Robina
Corporation. Their factory first made cornstarch—not exactly the most exciting product a
fledging company would put out in the market, but it was a key ingredient in many delectable
offerings. Big companies bought the Gokongweis' cornstarch for its quality and cheap price.
Next, they made their own coffee brand called Blend 45, which became an instant success.
REAPING THE RETURNS:
Since then, Big John was unstoppable as he built one of the Philippines’ biggest business
empires, the JG Summit. URC became one of the leading food and beverage companies in the
country. Aside from their conglomerate, JG Summit also has interests in PLDT, Manila Electric
Company, and other global companies like United Industrial and more. Today, JG Summit
Holdings Inc. has expanded from food and beverage to retail, air teleportation,
telecommunications, banking, power, property and hospitality, media, and petrochemicals.