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How dare you think that a suite can be equated with a meal!
With only 3,000 yuan, it single-handedly built a Chinese rare earth holding company worth tens of billions.
Relying on rare earth profiteering, Jiang Quanlong became an upstart overnight.
As a result, he was immersed in the extravagance and squandering of money, and lost 130 million in one night of gambling.
And his son was not to be outdone.
A "sky-high" meal, 900,000 yuan of binge eating, 200 million luxury cars were bought as toys to play, and the garage was collected as a "museum".
Jiang Xin, one of the "Four Youths of the Demon Capital", is so chic that even Wang Sicong can't help but give a thumbs up, which is smacking!
It's a pity that in just a few years, the father and son teamed up to lose tens of billions of family assets, and the end was miserable......
Treat tens of billions of family assets as "dung"
"50,000 yuan per capita, I'm eating it for the first time anyway."
In 2018, Jiang Xin posted a sky-high bill, with an amazing text and pictures, and as soon as the news came out, it instantly hit the eyes of people from all walks of life.
Take a closer look, Jiang Xin's blog shows the positioning - No. 5 Hotel in the western suburbs of Shanghai, one of the most mysterious food palaces in China, although this kind of flaunting of wealth is commonplace, but it is enough to arouse the curiosity of many people.
Judging from the bill, 8 servings of half a head of abalone in sake frozen totaled 102,400 yuan, 7.4 catties of wild yellow croaker were quoted at 15,800 yuan, 8.6 catties of tangzhuo wild conch were 13,588 yuan, and the service fee was as high as 37,944 yuan.
Before dinner, Jiang Xin and other 8 people ordered dishes of 400,000 yuan, spending an average of 50,000 yuan per person, plus bringing 480,000 yuan of wine, so a sky-high bill of nearly 900,000 yuan was created.
Such a large amount of money is simply jaw-dropping, after all, 900,000 is enough to buy a house, but what is even more shocking is that this is only the tip of the iceberg of Jiang Xin's extravagant life.
As a young man in Shanghai, Jiang Xin has shown off his wealth more than once, for him, cars are like toys, only more and not less, and his style of action is known as "the four young people in the magic capital".
In order to collect his treasures, he directly built a luxury parking lot in the mansion, which was filled with a dazzling array of top-quality limited edition luxury cars, and almost everything he could imagine was included in his collection.
Among them, there are many well-known sports cars such as Bugatti Veyron and Ferrari Enzo, but if you want to say which one Jiang Xin loves the most, I am afraid that there is only the "museum" garage, and at least 15 supercars are estimated to be 200 million yuan.
In addition to spending money on racing cars, Jiang Xin is also involved in the e-sports industry, and has squandered tens of millions of dollars to build his own e-sports brand, but in the end, he got tired of playing and transferred it again, without blinking his eyes.
It can be said that Jiang Xin is the "best" among the top players, in this regard, in the face of his son's extravagant style, the rich father Jiang Quanlong completely acquiesces, anyway, he is not bad for his son's money.
Because, Jiang Quanlong's worth is unimaginable, and his counterattack experience can be called a "dramatic life".
The information in this paragraph comes from: September 20, 2018 - Strait Network - Who is Snake Kane, Jiang Xin's information introduction, Weibo broke the news of 400,000 sky-high bills to attract attention
Transformed into a "rare earth king"
As early as 2001, Jiang Quanlong's worth exceeded 1.1 billion, and 12 years later, it directly fissioned to a three-digit 10.3 billion.
may be a world away from the 86 billion worth of Wang Jianlin, the richest man in China back then, but for a person who starts from the bottom and makes 3,000 yuan worth 10 billion, Jiang Quanlong is quite good.
Jiang Quanlong, who was born in Jiangsu in 1952, came from a poor family and his parents were authentic farmers.
So, after completing nine years of compulsory education, Jiang Quanlong decisively packed his bags and stayed away from his hometown, because he had no education and background, he could only enter a refractory factory and start from the lowest level of workers.
Although the salary is not high, but fortunately, he was taken care of by the master, Jiang Quanlong learned a lot of exquisite skills, became an expert in this field after leaving the school, and began to lead apprentices independently.
Until a chance encounter, a factory in Henan encountered technical problems, and everyone fell into a state of sorrow, Jiang Quanlong seized the opportunity, not only explained the troubles, but also personally solved them one by one.
In the end, with his outstanding ability, Jiang Quanlong was appreciated by the factory boss and invited to become the deputy factory director, enjoying a high salary and power status, and gradually lived a "well-off life".
However, Jiang Quanlong did not serve for too long, when he received a task to go to Jiangxi to investigate, he accidentally found that the rare earth industry is in its infancy, few people do rare earths, and there is no competitiveness at all.
So, Jiang Quanlong set his eyes on this cake, and despite the opposition of his family, he resolutely chose to resign from the "senior position of a state-owned enterprise" to ensure income during drought and flood, and devoted himself to doing business in the sea with the meager savings he had saved over the years.
Subsequently, Jiang Quanlongdong scraped together 3,000 yuan and set up a factory specializing in making refractory materials, although it was only a township enterprise at the beginning, but who would have thought that he would gradually build a business empire in the next few years.
The information in this paragraph comes from: July 13, 2003 - 21st Century Business Herald - Hong Kong Securities and Futures Commission tracks down China's rare earths Who is the capital behind the rich
After all, he became an "old man"
In the next few years, Jiang Quanlong set up a rare earth separation plant a few years later, focusing on rare earth mining and smelting, and made a lot of money.
Until 1994, Jiang Quanlong integrated all the resources in his hands and established it as "Xinwei Group", and became one of the few private enterprises that entered the field of rare earths.
In just a few years, under the operation of Jiang Quanlong, the group successfully landed in the Hong Kong capital market, became a listed company in the mainland with overseas prices, and changed its name to China Rare Earth Holdings, which can be described as a sensation.
In 2001, Jiang Quanlong became a rich man in Chinese mainland, worth as much as 1.1 billion, and since then, his career development has been singing all the way, and twelve years later, the group has become China's largest rare earth "leader", making him a net worth of tens of billions.
At that time, Jiang Quanlong has become a veritable "Chinese rare earth king", however, how brilliant it was in the past, how depressed it is now......
After Jiang Quanlong's family became a big business, not only did he indulge in a drunken life with his son, but he was also deeply involved in gambling and fun.
In the end, a few years later, Jiang Quanlong owed a large amount of money, and in the end, he not only lost his family's wealth, but also discredited him, causing the company to always be in a state of loss.
Coupled with his son Jiang Xin, who regarded money as dung, the father and son squandered it wantonly in a huge secret life, until Jiang Quanlong's "rare earth empire" collapsed under the double blow of national policy adjustment and uncontrolled enterprise management.
In the end, in order to fill the hole, Jiang Quanlong was forced to sell his assets, and his former worth of 10 billion yuan plummeted, and now, the father and son have long faded out of public view. #长文创作激励计划#
Although it has lost its former glamour, life is not destitute.
The information in this paragraph comes from: June 7, 2019 - Vision Investment Exchange - The fall of the "rare earth king": 3,000 yuan to start a business, net worth more than 10 billion, and now the company has been losing money for 7 consecutive years
Resources:
September 21, 2018 - Interface observation - 400,000 dinner led to the rich second generation, the company lost money for 6 consecutive years, and his father was a rare earth king and owed 100 million gambling funds
May 27, 2019 – North America Report – The Billionaire Who Rode the Rare Earth Wave: Now Hundreds of Millions of Gambling Debts, His Son Is Obsessed With Billions of Luxury Cars