Follow us for updates
© 2020 reportr.world
Read the Story →

WATCH: Lance Gokongwei Wants His Kids to Carve Their Own Identity

Hard work, not fortunes at birth.
by Ara Eugenio
Dec 17, 2020
Photo/s: JAY DIRECTO / AFP
Shares

The Gokongwei name can be a bit "a bit of a burden" for the next generation, that's why Lance Gokongwei, the head of the family-run JG Summit, said he'd rather that his children carve their own identities.

With the help of his wife, Jay Leong-Gokongwei, whom he described as the "gold standard" in parenting, the only son of the late industrialist John Gokongwei Jr. said their two children are raised to earn their keep.

"We try to praise or acknowledge them for their effort in working hard, not for fortunes at birth," he told Summit Media journalists in a video call.

Gokongwei refused to dwell on the family's inclusion in the annual Forbes Magazine ranking of the Philippines richest. He and his siblings placed fourth this year.

He said its a list that he'd rather not be on, for the sake of his children.

"Their friends know who their parents and grandparents are so they carry a bit of that weight or burden," he said.

Continue reading below ↓

"They start getting labeled or characterized in their schools. I’d rather they have their own identities rather than be a kid of somebody."

More on how the tycoon is as a parent in this video: 

(Editor's Note: Lance Gokongwei is president and CEO of JG Summit Holdings, which includes Cebu Pacific and Summit Media Group, which publishes reportr)

Latest Headlines
Read Next
Recent News
The news. So what? Subscribe to the newsletter that explains what the news means for you.
The email address you entered is invalid.
Thank you for signing up to On Three, reportr's weekly newsletter delivered to your mailbox three times a week. Only the latest, most useful and most insightful reads.
By signing up to reportr.world newsletter, you agree to our Terms of Service and Privacy Policy.