Cebuano tycoon John Gokongwei dies at 93

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Cebuano tycoon John Gokongwei dies at 93. | Read:

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A report by Esquire magazine, one of the publications of Gokongwei-owned Summit Publishing Company Inc., said it received the following text message from the tycoon’s only son Lance.

Gokongwei, who founded the conglomerate J.G. Summit Holdings Inc., had retired in 2016 and passed the leadership to Lance, his only son. He had five other children. Born in China and raised in Cebu, he sold peanuts, soap, and candles at the age of 13 to help his family after the death of his father John Gokongwei Sr.

JG Summit is engaged in air transportation , retail , real estate , tourism , food and beverage , banking, publishing and petrochemicals, among others.

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