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From the son of China’s richest man to quietly walking the streets of Tokyo.
Wang Sicong’s days are far less carefree than they used to be.
Wang Jianlin is under even more crushing pressure now, and he’s lost weight to the point of looking nothing like himself. He’s now a minority shareholder of Wanda, while the major shareholder has become Taimeng.
Wanda now has debts of 600 billion yuan, including 140 billion yuan that must be repaid in interest. Just for interest alone, he has to pay more than 100 billion yuan every year. The cash on the books is only more than 100 billion yuan.
Old Wang can only keep selling plazas. He sold them all in first-tier cities. But the more he sells, the worse the cash flow becomes, and repaying the debt still looks hopeless.
Back then, Old Wang failed to relist twice, but he happened to sign a terrifying performance-based bet agreement—if the listing wasn’t successful, he would owe a huge amount of debt. He enjoyed the spotlight and never thought he might not be able to get listed—little did he know that human plans can’t compare to what fate brings.
How hard it is for the rich to guard their money…