Recently, the Beijing Financial Court ruled in the first instance that Jia Yueting should bear 100% joint and several liability for the "LeTV Securities Misrepresentation Liability Dispute". However, it has been verified that in the Chinese mainland territory, Jia Yueting has neither bank deposits, nor real estate, nor even a car. In other words, Jia Yueting has no assets in China.
However, Jia Yueting's life in the United States is quite moist. It is reported that Jia Yueting has estimated his own cash flow from 2020 to 2024, and it is expected that by the end of 2024, the cash in his hand will only be more than 60,000 US dollars (equivalent to about 430,000 yuan). More than 400,000 yuan, for ordinary people in Chinese mainland, if they do not buy a house, do not buy a car, do not invest, they can also ensure that they have no worries about food and clothing for a few years. But for Jia Yueting, who was once worth tens of billions of yuan, this little money is just barely starving.
In Faraday Future Automobile, Jia Yueting personally holds only 1.1082 million shares, less than 1% of the shares, according to Faraday Future Company's financial report for the second quarter of 2023, Faraday Future's operating loss for the quarter was 55.979 million US dollars. As of June 30, 2023, Faraday Future's cash balance on its books was $17.893 million. In addition to Faraday Future equity, Jia Yueting has other sources of income. On October 14, 2019, Jia Yueting filed for personal bankruptcy restructuring in the United States. Under the restructuring plan, he set up a creditor trust into which all of Faraday's future equity and related proceeds were transferred to the trust. Jia Yueting's main sources of income are two: one is salary, and the other is rent.
Jia Yueting's salary income, from 2020 to 2024, the net salary is 373,800, 747,600, 897,100, 986,800 and 1,085,500 US dollars, respectively, and the total for five years is 4,090,800 US dollars (equivalent to about 29.86 million yuan). In terms of rental income, from 2020 to 2023, it is expected to earn 306,700, 525,700 and 525,700 US dollars respectively, and in these three years, Jia Yueting earned a total of 1,883,800 US dollars (equivalent to about 13.75 million yuan). To say, the income of more than 43 million yuan is really a lot.
When it comes to rental income, it needs to be explained. There is a company called Ocean View, bought 5 properties in California, in 2017, Jia Yueting signed a lease agreement with Ocean View, Ocean View rented the house to Jia Yueting, the rent for the first four years is fixed, paying 2.1029 million US dollars per year. From the fifth year, it will pay $525,700 a year, and it will increase by 3% every year, but Jia Yueting has subleased all the houses except No. 91 to Warm Time for the lease period from January 1, 2019 to December 31, 2023. It pays $43,810 a month in rent, and after five years, the cumulative rent can receive more than $2,628,500! Warm Time rented two of the houses to Faraday Future America as employee dormitories, and Faraday Future America paid Warm Time $639,000, $330,000 and $1.7 million in rent and service fees from 2019 to 2021, respectively.
I don't know if you can understand it, anyway, Jia Yueting has no property in Chinese mainland, but he still has it in the United States. Unfortunately, the judgment of the Beijing Financial Court is invalid in the United States. Therefore, Jia Yueting's property in the United States is still his. The Beijing Financial Court was helpless.
However, Jia Yueting's life in the United States is not good. According to reports, Jia Yueting is ready for bankruptcy. Recently, it was reported that due to the continuous collapse of Faraday Future's stock price, according to people close to Jia Yueting, Jia Yueting and Faraday Future are now ready for everything. Once the stock price continues to fall, then Jia Yueting's dream of building a car may end.
After all, in the past two months, Faraday Future's stock price has fallen by more than 90%, and if it continues to go public, it has actually lost its meaning. Considering that Jia Yueting has only delivered 3 cars at present, therefore, for the market, such a car manufacturing company, there is great uncertainty, if they continue to invest, then their funds may be very risky.
For Jia Yueting, if car building is blocked again, then he must try his best to raise funds for the company, otherwise the long-standing dream of car building will end.
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