What will Tarzan be?
Anyone who knows the Chamber of Commerce knows that taishan was once the most cattle chamber of commerce in China, and many of the big names in the business world now come from this.
Associated with Liu Chuanzhi, Wantong Feng Lun, giant Shi Yuzhu, backgammon Duan Yongping, before and after the sixteen big men are worth tens of billions. Among them, there is a person named Lu Zhiqiang, whose group assets once exceeded 300 billion.
But it is such a big man of the 100 billion group, but he has a life of ups and downs.
On July 14, 2021, the 1.7 billion yuan of Minsheng Bank's equity held by Oceanwide Holdings was compulsorily auctioned, after its chairman Lu Zhiqiang had been listed by the people's court as an executor, with personal liabilities of up to 4.9 billion yuan.
The former taishan society elder, the richest man in Shandong, actually had a debt of 4.9 billion yuan in the day and night.
<h1 class="pgc-h-arrow-right" data-track="9" >1. Graduates of famous universities Entered the real estate industry in three years of entrepreneurship</h1>
Born in Weihai, Shandong Province, graduated from Fudan University, Lu Zhiqiang is the first batch of college students to be admitted after experiencing the "ten years of catastrophe", and the gold content can be imagined.
"Jin Cancan" as a graduate of a prestigious university has given him a good position, and he has relied on his excellent work ability to sit from an ordinary employee of a technology development center to the position of deputy director of the office. This was a good job that most people envied at the time.
Lu Zhiqiang felt that his life could not be limited to a small office, so he resolutely gave up the "iron rice bowl" and went to the sea to start a business.
According to reports, Lu Zhiqiang's first bucket of gold came from the education and training industry. Although the education and training industry is now in full swing, in the context of the development of education and training at that time, those who can profit from it must have their own superiority.
Three years later, in 1988, Lu Set His sights on the real estate industry and formally established China Oceanwide Holdings Limited.
This move can be said to smell the opportunity and feel the pulse of the times. Everyone knows that in the following few years, the real estate boom, many people have made a fortune with this, lu Zhiqiang is the first batch of the darling of the times.
With the development of Oceanwide Holdings, Lu Zhiqiang once again looked into the distance, this time he wanted to do something out of Shandong and go north to seek a broader world.
It was this time that Lu Zhiqiang met Liu Chuanzhi, the founder of Lenovo, and was introduced by Liu Chuanzhi to join the most well-known and mysterious large chamber of commerce in China in the past - "Taishan Society".
Under the example, it can be seen that not everyone has the courage to drop the iron rice bowl and start a business in the sea; not everyone has the ability to start a successful business and become a big man of the Chamber of Commerce in one fell swoop.
Many people look at the business achievements of successful people, lament that they are not born at the right time, familiar with the big waves, we can see only a few people who are still standing after being screened by the times.
Moreover, the world is uncertain, and who knows who will fall next?
<h1 class="pgc-h-arrow-right" data-track="55" >2. Keep up with the times and build a "ocean-wide" empire</h1>
Coinciding with the reform and opening up, favorable policies, and the pulse of the times, Lu Zhiqiang began to create his own "pan-ocean" empire.
The first cooperation with TaishanHui was established as "Guangcai Business Investment Management Co., Ltd.", and the main shares were actually in the hands of Lu Zhiqiang. The participation of other groups is just the big guys giving each other face and coming to stand on the stage.
Subsequently, Lu Zhiqiang increased capital and shares, acquired the state-owned enterprise "Nanyou Property", and successfully listed on the backdoor, fully enjoying the dividends of the capital market and the reform of state-owned enterprises.
Not only that, with the continuous advancement of reform, the financial industry has also beckoned to private capital.
The first to respond were members of the Taishan Society, of which Lu Zhiqiang and Feng Lun were the first private entrepreneurs to participate in the establishment of Minsheng Bank.
In 2001, Minsheng Bank was successfully listed on the A-share market. Speaking of this, we have to admire Lu Zhiqiang's foresight, and he has become the second largest shareholder of Minsheng Bank through Oceanwide Holdings.
In the subsequent expansion process, Minsheng Bank has become a strong backing for Oceanwide, providing it with a steady stream of financial support.
In addition to Minsheng Bank, Lu Zhiqiang's backing also includes the Taishan Society. The members of the Taishan Society have a very good personal relationship, and the association also adheres to the principle of "saving lives and helping the injured", basically one side has difficulties and the eight parties support it.
Take Liu Chuanzhi as an example, when Lu Zhiqiang attacked the real estate industry, occasionally there was insufficient funds, and it was Liu Chuanzhi's "blood transfusion" to save the crisis of insufficient capital chain;
Similarly, Lu Zhiqiang also repaid the favor, helping Liu Chuanzhi in the reform of Lenovo's shareholding system, buying 29% of the shares and sending him to the position of head of Lenovo.
It is precisely with sufficient human resources behind it that Lu Zhiqiang can be invincible in the subsequent expansion process.
Since then, the relevant policies have been loosened one after another, and Lu Zhiqiang has followed suit, step by step to establish a huge and complex financial system of "Minsheng Securities", "Minsheng Life", "Minsheng Guarantee", "Minsheng Trust", and other "Minsheng System".
It seems that they are all named "people's livelihood", but in fact, Lu Zhiqiang, who stands behind the actual control, has created his own "pan-ocean" financial empire.
Lu Zhiqiang's capital operation method is actually very consistent, that is, through acquisition - pledge financing, the equity from the last acquisition is pledged to financial institutions, liquidity is obtained, and then acquired again, and so on to continuously expand his capital territory.
On the surface, Lu Zhiqiang has a unique vision, grasps every policy dividend, and the expansion momentum is extremely rapid, as everyone knows: "Water can carry boats, but also can overturn boats."
Using policy dividends to create its own business system, when the policy changes, the huge financial system faces an unprecedented crisis.
<h1 class="pgc-h-arrow-right" data-track="61" >3</h1>
Funds circulate in the middle of the huge financial enterprises, interlocking, Lu Zhiqiang did everything in his power to expand the scope of financing and continuously increase leverage.
Although China's market economy has a certain degree of freedom, the "invisible hand" has also played a crucial regulatory role. Lu Zhiqiang's capital operation means undoubtedly hide huge regulatory risks.
In 2017, his friend Wang Jianlin suddenly sold assets, and the outside world said that he "broke his arm to survive" and sold a number of his industries to resolve the debt crisis.
The reason for this is that the state has intervened. In order to prevent financial crises and reduce financial risks, deleveraging is imperative.
Lu Zhiqiang spent tens of billions of yuan to build a financial empire, and did not hesitate to "de-real estate". Nearly 100 billion yuan of debt financing, the annual interest cost is as high as 2 billion. As the saying goes, the higher you stand, the more miserable you fall, and once there is a problem in the capital chain, the consequences can be imagined.
First, China Merchants Bank's loan cut off, resulting in a rupture in LeTV's capital chain, and then Ping An Trust's application to enforce Oceanwide's 1.7 billion shares, minsheng Bank, as Oceanwide's back garden, was also deeply involved in a huge related loan crisis at this time.
Problems arise frequently, seemingly coincidentally, but in fact, the "invisible hand" plays a role in the dark.
"The leak of the house is in the overnight rain", and the Minsheng Trust, as the main source of funds, has stepped on the thunder "fake gold" and cannot get out.
The members of the Taishan Society were also difficult to protect themselves at this time, Liu Chuanzhi had long since retreated behind the scenes, and Wang Jianlin was even more bitter.
The east wall was demolished to make up for the west wall, and the debt could not be repaid in the end, and Lu Zhiqiang, who once had hundreds of billions of assets, eventually became a lao lai with a debt of 4.9 billion.
Financial games are not like ordinary mobile games, this is not over, the next restart is a good man. We don't know how the thrill of controlling capital is, but perhaps that's the allure of the financial game.
It is undeniable that Lu Zhiqiang is successful, and the 100 billion empire was created by him. I wonder if he foresaw his billions of debts when he sat on the "throne" and enjoyed the fruits of his success.
Leverage is like gambling, and the initial success of great success also means the beginning of addiction.
Just like Plov's conditioned reflex theory, most people will repeat and increase the last successful experience, and successful people will increase their leverage bets, either success or failure.
Financial games, dividends and risks coexist, play is full of pots; play off, is the back of its risk...
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Author: Xiang Nan