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Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

author:Tsing shirt scholar
The content of this article is written with authoritative information combined with personal opinions, and the details may be polished, please read it sensibly, and the source of the literature and screenshots have been marked at the end of the article, please be aware.

The life of a rich man is a luxury that we can't imagine.

I ate 900,000 yuan for one meal, and I bought a sports car for 200 million yuan.

This kind of thing that refreshes our three views is a common thing to put on Jiang Xin, one of the "Four Lessers of the Demon Capital".

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

As a supporter of Jiang Xin's strong financial resources, Jiang Xin's father Jiang Quanlong is far superior to his son in terms of losers.

Jiang Quanlong, who is addicted to money, always goes in and out of major casinos, and can lose 130 million yuan in just one gamble.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

Under the joint efforts of father and son, even tens of billions of family assets were quickly lost by the two, and in the end, they were even in debt.

So, why did the father and son behave like an upstart? Where does the tens of billions of family assets come from?

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

The life of a rich man

In 2018, Jiang Xin, one of the four young people in the magic capital, posted a bill for his meal in a very high-profile manner, which caused widespread discussion among the public.

It turns out that this bill is not the same as the bill for ordinary people's meals, and the difference is the price on the bill.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

According to the consumption of our ordinary people, a meal is at most hundreds or thousands.

But in the bill posted by Jiang Xin, the total consumption reached more than 410,000, and such a sky-high bill is the fundamental reason for everyone's discussion.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

More than 400,000 yuan, for a family with an average income, you have to save for several years just by not eating or drinking.

For Jiang Xin, more than 400,000 yuan is just the price of his meal, and even according to others, Jiang Xin also brought more than 500,000 yuan worth of wine that day.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

In other words, the real price of Jiang Xin's meal has reached more than 900,000 yuan.

In some third-tier cities, more than 900,000 yuan is enough to buy a house of hundreds of square meters.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

In everyone's opinion, Jiang Xin's behavior is simply a naked show off of wealth, but Jiang Xin deliberately marked that he was not showing off his wealth when he accompanied the text.

It can be seen that in Jiang Xin's heart, the more than 900,000 yuan is really nothing, and he spends more than 900,000 yuan just like ordinary people spend hundreds of yuan.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

And this is just the most inconspicuous microcosm of Jiang Xin's luxurious life.

can be crowned with the title of "Four Youths of the Magic Capital", Jiang Xin's life is naturally unimaginable luxury for ordinary people.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

As a luxury car enthusiast, Jiang Xin has publicly flaunted his luxury car more than once.

Bugatti Veyron, Pagani Son of the Wind, Rolls-Royce Phantom, Ferrari Enzo and others are just a few of Jiang Xin's many collections.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

In order to place his baby luxury car, Jiang Xin also built a garage in his mansion, and Jiang Xin spent as much as 200 million yuan on the luxury car alone.

And the reason why Jiang Xin can be such a big loser starts with his father.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

Self-made Jiang Quanlong

As Jiang Xin's father, Jiang Quanlong was not born like a son and lived the life of a "rich second generation".

Born in rural Jiangsu, Jiang Quanlong has long wanted to change his family's poverty since he was a child.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

In order to share the pressure of his parents, Jiang Quanlong chose to drop out of school and work before graduating from primary school.

With the support of his parents, Jiang Quanlong left his hometown and embarked on a journey to work in a different place alone.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

Due to his lack of education and background, Jiang Quanlong could only choose to work as a worker in a refractory factory.

Jiang Quanlong understood early on that there was no future just by working hard, and only by learning technology could he change his future and strive for better treatment for himself.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

So while working, Jiang Quanlong will always specialize in technology and humbly ask the master for advice.

Seeing that Jiang Quanlong was so studious, the master was also serious about teaching, with his own efforts, Jiang Quanlong soon became a teacher, and gradually became an expert in the refractory industry.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

With his own efforts to solve many problems for the factory, after the reputation was spread, Jiang Quanlong also received invitations from other factories.

hoped that he would serve as the deputy director of the factory to help the factory come back to life, and Jiang Quanlong finally lived up to expectations and successfully solved this life and death crisis.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

Rare earth king

After becoming the deputy factory director, Jiang Quanlong's work became idle, and during an outing, Jiang Quanlong stumbled upon a new type of material - rare earth.

The sharp-eyed Jiang Quanlong discovered the future development prospects of rare earth materials, and there was a big gap in the rare earth market at this time.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

So Jiang Quanlong wanted to seize the opportunity to eat this "big cake" one step ahead of others.

In order to accumulate funds, in 1984, Jiang Quanlong took the 3,000 yuan he had saved, left the factory where he had worked for many years, and chose to return to his hometown to start his own business.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

After returning home, Jiang Quanlong relied on his years of experience to set up his own refractory factory in his hometown.

With the help of his professional technology, Jiang Quanlong quickly made the factory prosperous and made good profits.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

Just three years later, Jiang Quanlong had accumulated enough money to start a rare earth smelter in the first place.

Since not many people knew about rare earths at that time, Jiang Quanlong could be said to have monopolized the entire rare earth market and obtained huge benefits from it.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

In the following years, Jiang Quanlong set up a rare earth separation plant to realize the one-stop separation and smelting of rare earths.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

Due to the official support and the development of the global semiconductor industry, the global demand for rare earths has increased greatly, and Jiang Quanlong has also caught up with this golden period and made a lot of money.

In 1994, Jiang Quanlong merged all his industries and named it "Xinwei Group".

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

In the next few years, Jiang Quanlong successfully listed in Hong Kong with his deep mining in the field of rare earths, and gathered a lot of money for himself, and his worth soared.

As early as 2001, Jiang Quanlong's worth was as high as 1.1 billion, and it was still rising steadily.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

More than ten years later, Jiang Quanlong's worth has crossed from more than one billion to tens of billions, becoming the "leader" in the field of rare earths.

Tens of billions of family assets have been lost

How high I once climbed, how badly I fell now.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

won a net worth of 10 billion yuan so smoothly, which made Jiang Quanlong's heart begin to swell.

After becoming rich, Jiang Quanlong gradually became blinded by money, and began to indulge in a luxurious life, and even became addicted to gambling.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

Going in and out of major casinos all day long, from the initial caution to the last one-time stud, Jiang Quanlong went further and further on the road of gambling.

Even lost 130 million in one gamble, what a terrifying number.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

In addition to enjoying the sense of accomplishment brought by money, Jiang Quanlong is also very doting on his son, and he will give his son whatever he wants.

The son is a loser, and Lao Tzu is also a loser, which is really worthy of being his biological father and son.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

However, even the big family business could not withstand the repeated spoils of the two, and it was quickly consumed, and even affected the normal operation of the company.

The once huge "rare earth empire" was squandered by the father and son.

Eat a suite for 900,000 yuan for a meal, and spend 200 million to buy a sports car! Father and son teamed up to squander tens of billions of family assets

epilogue

Although the "rare earth king" was lonely, the emaciated camel was bigger than the horse, which did not affect the Jiang family to continue to live a luxurious life.

No matter how depressed they are, life is still more nourishing than ordinary people.

Resources:

Baidu Encyclopedia: Jiang Quanlong, Jiang Xin

Beijing News: "Shanghai's "Sky-high Bill" Rashomon: Some People Say "Rich Second Generation" Jiang Xin Was There That Night and Brought 480,000 Drinks" 2018-09-19

China Economic Net: "China's Rare Earth Soars and Doubles, Major Shareholders Bizarre Escape: Gambling Debt Tax Evasion Continues to Be Negative for 7 Years in a Row"2019-05-29

Hexun News: "The Past of China's Rare Earth Wealth" 2019-06-06

North American report: "The rich man who stepped on the rare earth wave back then: now he owes hundreds of millions of gambling debts, and his son is obsessed with hundreds of millions of luxury cars" 2019-5-27