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He used to be the "king of rare earths in China", with a maximum net worth of 10 billion, ranking among the top of the Forbes list.
His son Jiang Xin is also a well-known Shanghai broadie, he can eat 900,000 yuan in one meal, and there are several luxury cars worth more than 10 million at home.
Life is so extravagant, people don't envy it.
But at the same time, there is also a crisis.
The company's stock price plummeted all the way, and Jiang Quanlong was also exposed to a gambling debt of up to 100 million Hong Kong dollars.
The glorious era of being frozen in equity and restricting high consumption has passed.
But he was able to create this business empire with 3,000 yuan back then, which was also quite powerful.
Today, let's take a look at Jiang Quanlong's family history.
01 Counterattack
Jiang Quanlong was born in Yixing, Jiangsu Province in 1952, with an average family environment, and he later started from scratch.
In that era of scarcity of materials, he entered the society in advance without reading for a few years and began to make money to supplement his family.
Jiang Quanlong entered a refractory factory, in fact, at that time, workers were also a good occupation.
It's just that he is a little tired, and he can only do the most basic work at the beginning, and he is completely a coolie.
However, although Jiang Quanlong is not highly educated, his brain is quite bright, and he is clever and intelligent.
He worshipped a master as a teacher and learned a lot of techniques from him.
Serious and willing to learn, Jiang Quanlong made rapid progress and became an "expert" in refractory materials.
Mastered the skill of eating, he completely sat on the bench in the factory, and this work has been more than ten years.
Later, because of his excellent technology, he was sent to a refractory factory in Kaifeng as the deputy director.
After being promoted and seeing more things, Jiang Quanlong's vision was not limited to a small factory.
With the trend of reform and opening up, the state encourages private enterprises and provides a series of preferential policies, which makes him a little tempted.
But doing business requires capital, and Jiang Quanlong's monthly salary of dozens of yuan took a long time to save up to 3,000 yuan.
The 3,000 yuan was the only capital he had, so he had the courage to quit his job and start his own entrepreneurial journey.
02 Drop
1984 was a new beginning in Jiang Quanlong's life.
With that 3,000 yuan, he became a small boss and returned to his hometown to start a refractory factory.
Later, with his keen business sense, he discovered that the rare earth industry has a lot to offer.
The cascade extraction theory of Xu Guangxian, the "father of rare earths", is a huge change for the rare earth industry.
Jiang Quanlong is the beneficiary, from which he spied on the business opportunities and stepped into the market one step ahead of others.
When everyone joined the rare earth industry in hindsight, he had already made a fortune with rare earths.
What was the concept of making 100 million yuan in the 80s?
Others are still worried about food and clothing, and he has a lot of money, which is difficult for people to match.
After that, he seized the opportunity to set up a China Rare Earth Holding Company to be listed in Hong Kong.
With money to make money, and the funds obtained from the stock market were used to buy raw materials in Inner Mongolia and Jiangxi, Jiang Quanlong's company continued to expand at an astonishing rate.
Although it has been exposed to performance fraud, it has been investigated by relevant departments.
But since then, China's rare earth profits have generally shown an increasing trend.
Jiang Quanlong himself also amassed a large fortune, reaching a staggering number and becoming a well-known wealthy man.
But then, as the rare earth industry consolidated, his company inevitably suffered.
Moreover, the price of rare earths has fallen in those years, and the company's profits have been decreasing.
In 2017, Jiang Quanlong himself was exposed to arrears of gambling debts.
A casino in Singapore owes more than 100 million Hong Kong dollars in gambling money.
The company said that this was his personal economic dispute and had nothing to do with the company.
China has been losing money year after year, and even needs to sell land to repay debts.
And Jiang Quanlong also faced the situation of freezing his equity and became the person subject to execution.
After that, he had to keep a low profile.
His wife, Qian Yuanying, and son, Jiang Xin, also held certain positions in China's rare earths, which was quite beautiful once upon a time.
Jiang Quanlong is addicted to gambling and has squandered a lot of family property, and his son Jiang Xin is even more blue, has a hobby of burning money, and likes to collect all kinds of luxury cars.
In fact, in terms of popularity among the public, Jiang Xin is more famous than his father.
And what made him come to the eyes of the public should be the sky-high bill of 400,000 yuan.
03 Wide and small
In 2018, there was a bill for meals that went viral online.
Just looking at the front and back of this list, there is nothing wrong with that.
But the five-figure dishes in the middle can surprise people.
And after these dishes were added up, the price reached a terrifying 410,000 8, and finally wiped a fraction and collected 400,000.
Good guys, this fraction is enough for ordinary people to eat for a year.
At the same time, everyone is also curious about who can afford such an expensive meal.
These 400,000 can buy a suite in a small city.
The person who posted the bill said that he was the first time to eat 50,000 yuan of dinner per capita.
It seems that he was also surprised by the price, so he sent the bill.
And netizens also found out the identity of this person, he is Jiang Xin, the son of Jiang Quanlong, the "rare earth king".
After knowing the news, everyone didn't feel so surprised that he could eat such an expensive meal.
It is said that they also brought their own drinks worth nearly 500,000 yuan at the banquet.
Then plus the cost of the meal, they spent a total of 900,000 on this meal!
That's an exaggerated number.
Everyone had a lot of curiosity about Jiang Xin's extravagant life, and they discussed it on the Internet.
However, the owner of the restaurant stood up and said that the person who paid for the meal was not Jiang Xin, but a guest invited by the prince of Dubai, who ate with him.
Although someone broke the news that Jiang Xin was a frequent customer of this store, the boss did not deny it.
But this meal of 900,000 yuan is really not his money.
So what is Jiang Xin's economic strength?
is known as one of the "Four Youths of the Demon Capital", with such a rich father, he will naturally not be short of money.
He also founded the Snake Esports Club, but unfortunately, compared to Wang Sicong's IG, the team's results are not particularly outstanding.
But not as high-profile as Wang Sicong, in addition to the controversy caused by this meal, Jiang Xin usually does not show off his wealth easily.
It's just that he is famous for his love of cars.
26 million Bugatti, 41 million Pagani, and 15 million Ferrari Enzo.
The combined price of all the cars is more than 200 million, and he himself is a member of the HAC supercar club, so it can be said that he is not stingy in this regard.
When you see a car you like, you can simply do it.
The Tiffany blue Bugatti has a very beautiful appearance, and there are still footprints of Jiang Xin's son in the middle of the seat.
Unfortunately, the car was later sold and transferred from Hong Kong to the United Kingdom.
Selling his car must be very heartbreaking for Jiang Xin.
It also shows that their family's situation is indeed different from before.
Today, Jiang Xin still holds the position of general manager of China Rare Earth, and he loves cars as much as before.
He also posted a video of his son sitting in the driver's seat, and may also want to cultivate his son's love for cars.
It's just that now things are wrong, and the car that may have been prepared for the little Jiang has become someone else's, and the Jiang family has to live a low-key life.
This is a huge gap for them.
epilogue
It is easy to make a fortune and it is difficult to keep money, Jiang Quanlong seized the opportunity given to him by the times and changed the fate of his family.
But he forgot his original intention when he started his business, and began to squander extravagantly, and he didn't know how to judge the situation and adapt in time.
Coming to such an end is an inevitable consequence.
disclaimer
The process and pictures described in the article are all from the Internet, and this article aims to advocate positive social energy and no vulgar and other bad guidance. If it involves copyright or character infringement issues, please contact us in time, and we will delete the content as soon as possible! If there is any doubt about the incident, it will be deleted or changed immediately after contact.
bibliography
Is "rare" a stock expensive? Behind the doubling of China's rare earth in one day: Lao Tzu owes gambling debts, and his son loves luxury cars(Upstream News Comprehensive 2019-5-22)
Behind the sharp rise and fall of China's rare earths: the company has lost money for 7 consecutive years, and the founder has owed gambling debts (Beijing News 2019-5-22)