A few days ago, Xu Jiayin, the founder of Evergrande Group, and his second son Xu Tenghe were officially notified that they had been taken compulsory measures in accordance with the law because they were suspected of breaking the law and committing crimes.
This news triggered shock and heated discussions on the whole network, and many people lamented the collapse of Evergrande and the tragedy of Xu Jiayin.
At the same time, another former real estate tycoon, Wang Jianlin, is quietly reviving, his Wanda Group has successfully achieved transformation and recovery after experiencing a stock and debt difficulty, and Wang Jianlin has also regained the throne of the richest real estate.
And his son Wang Sicong, although he is often exposed to various lace news on social media, but he has not been suppressed by any laws, but has become a "national husband" in the minds of many people.
Such a comparison makes people want to ask: Is Wang Jianlin "smarter" than Xu Jiayin? Has Wang Sicong's current situation already said the answer?
Wang Jianlin and Xu Jiayin's road to wealth
Wang Jianlin and Xu Jiayin are both leaders in China's real estate industry, and they have both created brilliant achievements and amazing wealth. But their path to wealth is also very different.
Wang Jianlin entered the real estate industry after changing from the military, and he gradually expanded from the initial real estate development to commercial real estate, cultural tourism, sports and entertainment, forming the diversified development strategy of Wanda Group.
Wang Jianlin has also invested heavily in overseas markets, acquiring well-known companies such as Hollywood studios, European football clubs, and British yacht manufacturers. In 2015, Wang Jianlin became China's richest man with a fortune of $34 billion.
Xu Jiayin started in the coal industry and was once chairman of Jinma Energy Group, one of China's largest coal companies.
In 2004, he became involved in the real estate industry and founded Evergrande Group. With high leverage, high turnover and rapid expansion, Evergrande Group has built a large number of residential projects across the country and successfully listed in 2010.
In 2017, Xu Jiayin surpassed Wang Jianlin with a fortune of $43 billion to become China's richest man.
Wang Jianlin and Xu Jiayin's difficult coping
Both Wang Jianlin and Xu Jiayin have faced huge financial difficulties, but their response has also been very different.
In 2017, Wanda Group suffered a double kill of stocks and bonds, and its overseas investment attracted the attention and intervention of regulatory authorities, resulting in the rupture of its capital chain and debts as high as 420 billion yuan.
Faced with such a dilemma, Wang Jianlin did not choose to escape or delay, but decisively took self-help measures, he sold a large number of assets, including Wanda commercial real estate, Wanda Film and Television, Wanda Hotel, etc., to repay debts and reduce leverage.
At the same time, he also adjusted the development direction of Wanda Group, from overexpansion to steady operation, from overseas markets to domestic markets, and from the real economy to the digital economy.
After several years of hard work, Wang Jianlin successfully brought Wanda Group back to life and restored profitability and market credibility.
In 2021, Evergrande Group fell into more serious difficulties, and its high-leverage, high-turnover, and high-speed expansion model suffered a double blow from policy and market, resulting in the collapse of its capital chain and debts as high as 2.4 trillion yuan.
In the face of such difficulties, Xu Jiayin did not actively solve the problem like Wang Jianlin, but adopted a series of rotten and evasive methods.
He first divorced his ex-wife falsely, transferred his property to her, and let her and her eldest son flee abroad. He then filed for bankruptcy protection in the United States in an attempt to preserve his assets overseas.
In addition, he used projects such as Evergrande Football Club and Evergrande Auto to attract the trust and money of investors and consumers, but failed to deliver on promises and repayment plans.
These actions not only did not ease the difficulties of Evergrande, but exacerbated the risk of defaulting on its debt, and also caused anger and dissatisfaction in society.
Family education of Wang Jianlin and Xu Jiayin
Wang Jianlin and Xu Jiayin both have their own sons, but there are also obvious differences in their treatment of their sons.
Wang Jianlin has a son named Wang Sicong, who although he holds a directorship in Wanda Group, he is not actually involved in the company's business operations.
Wang Jianlin has long understood that he cannot let his son wade through troubled waters, and stripping Wang Sicong from the business operation can better protect him.
So he gave Wang Sicong a hundred million and endless resources to start a business and practice, so that he could have his own thinking ability and life choices.
Although Wang Sicong is often exposed to various lace news on social media, he has not been suppressed by any laws, but has become a "national husband" in the minds of many people.
Wang Sicong also has his own interests and hobbies, such as e-sports, music, food, etc., and has invested in some promising projects.
Xu Jiayin has two sons named Xu Zhijian and Xu Tenghe. They are deeply involved in the normal operation of Evergrande Group and have held important positions.
Xu Zhijian is the vice president and executive director of Evergrande Group, and Xu Tenghe is the vice president and executive director of Evergrande Group and the chairman of Evergrande Football Club. They are all Xu Jiayin's right-hand men and his successors.
Xu Jiayin had high hopes for them and gave them unlimited power and wealth.
However, instead of inheriting and carrying forward Xu Jiayin's business wisdom and social responsibility, they indulged in pleasure and luxury, ignoring the operation and risks of Evergrande Group.
They have also failed to win the respect and affection of the public, but are often exposed to various scandals and negative news. In the end, they could not escape the suppression of the law and were officially reported as suspected of breaking the law and committing crimes.
epilogue
The contrast between Wang Jianlin and Xu Jiayin not only reflects their personal fate and family education, but also reflects the development and changes of China's real estate industry.
With the courage and wisdom of a soldier, Wang Jianlin successfully coped with difficulties and challenges, realized the transformation and recovery of Wanda Group, and also created a free and happy life for his son Wang Sicong.
Xu Jiayin blindly pursued wealth and power with the mentality and means of an upstart, which led to the collapse and demise of the Evergrande Group, and also brought endless trouble and suffering to his sons Xu Zhijian and Xu Tenghe.