Founder of Cebu Pacific Air expires at age 93

John Gokongwei Jr., Filipino Chinese billionaire who successfully built several businesses across the Asia-Pacific region, including telecom and airline services in the Philippines, passed away surrounded by his family.

“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,” his son Lance said in a phone message to media.

Gokongwei was the third wealthiest man in the Philippines with a net worth estimated by Forbes magazine at $5.3 billion as of 2019.

He is survived by his wife Elizabeth, children Lance, Robina, Lisa, Faith, Hope and Marcia, and grandchildren.

Years before he died, the patriarch had passed on the management of JG Summit Holdings to son Lance. He devoted his remaining years to philanthropy through the Gokongwei Brothers Foundation.

Under the flagship of JG Summit, Universal Robina Corp. has become a regional player in food and beverage production and one of the country’s leader in property development through Robina Land Corporation.

Cebu Pacific Air now has the largest fleet of aircrafts in the Philippines. It is also a pioneer in petrochemical business and a strategic investor in two of the country’s utility crown jewels — Manila Electric Co. and Philippine Long Distance Telephone Co.

The group also has interests in banking through Robinsons Bank. Its Retail arm Robinsons Retail Holdings Inc., is managed by daughter Robina. Ω

Updated: 2020-02-05 — 01:37:40