Rong Zhijian
Hello everyone, I'm Lantai.
Today Lantai would like to introduce to you Mr. Rong Zhijian, who has been the "richest man in China" for three consecutive years, and his prominent family, but the prosperity has declined, and he faded from the public eye because of the company's huge losses caused by a business activity in 2008.
01、
The Rong family actually did not have a long history, until Rong Yiren's great-grandfather Rong Xiqian (who lived in the Qing Daoguang period), the Rong family was just an ordinary poor family in Wuxi; Rong Xiqiao had been in a small business all his life, but due to the lack of vitality in Qing society at that time, until his death, he could not earn any property for the Rong family, and only left a few old houses handed down by his ancestors.
During the Taiping Rebellion, the Rong family in Wuxi suffered a near-devastating blow, and only Rong Yiren's grandfather Rong Xitai, who was an apprentice in a blacksmith shop in Shanghai, survived.
After the Taiping Rebellion, because the European powers regarded Shanghai as a bridgehead for aggression against China, with the existence of concessions that lost power and humiliated the country, a large amount of foreign capital also poured into Shanghai, making Shanghai the most prosperous city with the most job opportunities in China at that time.
The influx of people meant a great increase in the demand for necessities, including ironware, and during this period, everyone who worked in these trades became rich, and Rong Hee Tae also changed from an apprentice in a blacksmith shop to a successful blacksmith, and even had the money to open a small money house with others. (After the Taiping Rebellion, there was a general shortage of money in Jiangnan, so primitive financial institutions such as Qianzhuang appeared)
And Rong Zongjing and Rong Desheng also completed the transformation from blacksmith apprentice to money house apprentice because of their father's change from blacksmith to money house owner, and later the two brothers also worked in the money house that their father partnered with.
In 1896, Rong Yiren's grandfather died, and in the face of the situation that the partners wanted to withdraw their shares, the Rong family brothers chose to run their own money house, and then Guangsheng Money House became a sole proprietorship of the Rong family.
The Rong family
In 1900, the two brothers decided to end the money business and turn to industry, starting the road to the future "flour king".
By 1921, the flour mill founded by the Rong brothers had become the largest private flour mill in China; At the same time, the Rong family also entered the textile factory, and by 1922, the Rong brothers' "Shenxin Textile Unlimited Company" had become the largest private textile factory in China.
In his heyday, Rong Zongjing once proudly said that the Rong family "owned half of China in terms of food and clothing."
However, in the 30s of the 20th century, with the world economic depression and several operational mistakes, the Rongjia's enterprise has slipped from the peak, in fact, on the eve of liberation, the Rongjia's enterprise has reached the verge of bankruptcy.
It was in this context that Rong Yiren, the son of Rong Desheng, decided to stay in China.
However, although the Rong family was "not as good as before" on the eve of liberation, the emaciated camel was bigger than the horse, and the Rong family was still the top rich family in China at that time.
It was in this context that Wing Chi Kin was born.
Mr. Rong Yiren
02、
Rong Zhijian later said publicly in an interview that he could not accept the "puritanical lifestyle", which was the words of Mr. Rong Zhijian.
In Hong Kong, Mr. Wing Chi Kin even has a reputation for "spending money".
Born in Shanghai in 1942, when he was 10 years old, in 1952, his father Rong Yiren gave him a Singer convertible British sports car with a red leather seat.
Before he was in high school, Rong Zhijian was used to driving his own open-top sports car around Shanghai on holidays and taking his classmates around Shanghai.
With the overall social atmosphere of New China at that time, Rong Zhijian could still drive an imported open-top sports car around the beach in Shanghai, which also showed that the country trusted and valued Rong Yiren.
However, although Mr. Rong Zhijian also has the temper of the "eldest young master", he is not the disgusting "son and brother" of "Gao Yanei", but his classmates all think that Rong Zhijian is very righteous.
According to Mr. Rong Chi Kin in an interview later, in the late 50s and early 60s of the 20th century, when food was tight, Rong Zhijian often invited his classmates to eat braised pork ribs in the school cafeteria, and he not only invited classmates who had a good relationship with him, but as long as he was a classmate, he once became the best person in the class.
After graduating from university, Rong Zhijian was assigned to Liangshan, Sichuan Province, and became a telecommunications mechanic, which suffered a lot.
However, what happened to Liangshan in Sichuan over the years has not changed Rong Zhijian's lifestyle.
Rong Zhijian
03、
After the reform and opening up, some leaders asked Rong Yiren how to better attract foreign investment to serve national construction.
Rong Yiren proposed to open a trust company in Hong Kong as "a window for opening up to the outside world" to attract foreign capital and introduce advanced technology.
The relevant leaders felt that Mr. Rong Yiren's suggestion was very good, so he proposed to ask Rong Yiren to come forward to set up such a company in Hong Kong.
The reason why Rong Yiren was proposed to come forward is that it can dilute the national color and be more conducive to attracting investment; Second, they can use the influence of the Rong family among overseas Chinese; Third, it can convey to the world the determination of reform and opening up.
Therefore, Rong Yiren was appointed to establish the current CITIC Company.
It should be explained here that although Rong Yiren's 10 million yuan of CITIC Company was transferred by the state, this money was accumulated by Rongjia for a long time after the public-private partnership because he did not participate in dividends.
At the same time, Rong Yiren sent his only son Rong Zhijian to Hong Kong to establish the general manager of CITIC Pacific, a subsidiary of CITIC Group.
This is also the starting point for Rong Zhijian to become the richest man in China.
In 2002, Rong Zhijian ascended to the throne of "China's richest man", and his ridicule of "my grandfather is the richest man, my father is the richest man, and I am still the richest man" has also become a good story.
Wing Chi Kin's championship horse race
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However, the biggest difference between Rong Zhijian and other billionaires is that he is very "luxurious" in life, and at the same time, he is also very high-profile.
He was the first businessman in New China to buy a private jet, and in 2000, he spent 300 million on a "global express." You must know that this is 2000, and in 2000, 300 million Hong Kong dollars was enough to buy at least 20% of Tencent's shares.
If Rong Zhijian did not buy a private jet at that time, but bought a stake in Tencent... However, Rong Zhijian chose to buy a private jet.
Not only that, Wing Chi Kin also owns private forests, horse farms and ancient castles in Australia and the United Kingdom.
He and his family fly to the UK every weekend for the weekend.
Wing Zhijian loves horse racing, and his stable is home to many world-famous horses, and just caring for and training these horses costs more than 10 million Hong Kong dollars a year.
In 1993, Mr. Rong Yiren became Vice President of the People's Republic of China and died in 2005 at the age of 89.
Three years after Mr. Rong Yiren's death, the "high-profile" Rong Zhijian made a big mistake in the company's operation, causing the company to lose 15.6 billion Hong Kong dollars.
In the end, it was CITIC Group, the parent company of CITIC Pacific, who helped Rong Zhijian "wipe his ass", to be honest, this is also somewhat for the face of the late Mr. Rong Yiren. However, Rong Zhijian was also forced to leave CITIC Pacific.
Since then, Rong Zhijian, the former richest man, has begun to fade from public view.
He reappeared in the public eye in 2020, when a horse named "Lucky Express" at the Hong Kong Jockey Club won the race, winning a prize of HK$3.8 million, and the owner of this horse was Rong Chi Kin.
From the "richest man" to "defeat 15.6 billion" to the "horse racing tycoon", Rong Zhijian's life experience is also embarrassing.
The above is Rong Zhijian's story, if you have anything to discuss, welcome to leave a message in the comment area.
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Resources:
"Rong Zhijian's Tragic Curtain Call", Bifu, "Great Economic and Trade", 2009.5;
"Rong Zhijian, The End of the Legend of Wealth", Tian Wen, Golden Age, 2009.6;
"Capital Napoleon Rong Zhijian", Kong Dawei, Capital Markets, 2015.10