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Once upon a time, Mr. Jiang Quanlong and his son Jiang Xin were the bright stars of the industry, famous and respected. They hold huge assets of up to tens of billions of yuan and enjoy the life of wealthy families that ordinary people can hardly imagine.
What is remarkable is that Jiang Xin once publicly displayed a luxury catering bill worth up to 900,000 yuan, which aroused widespread attention from all walks of life.
This is undoubtedly an untouchable astronomical amount for the general public, but for the Jiang father and son, it is only a drop in the bucket.
However, at the peak of their careers, fate played a huge joke on them.
Due to poor management and excessive profligacy, the China Rare Earth Group controlled by the Jiang family and his son went through twists and turns, and finally fell like a bright meteor, and the family wealth was wiped out.
Now, the former "princes" have disappeared from the public eye, and the glorious legend of the past is only a sighing historical memory.
Looking back on the ups and downs of Mr. Jiang Quanlong's life, people can't help but sigh. How did a rural boy from a poor background climb to the peak of his career step by step with his indomitable will and outstanding wisdom?
How did they lose their minds in the hour of glory and become slaves to money, and eventually lead to nothing?
Whenever they recall these past events, people will always sigh with emotion and regret that this life legend is no longer legendary.
Tracing back to his roots, Mr. Jiang Quanlong was born in a remote and impoverished mountain village in Jiangsu. The environment is harsh, the land is barren, and the living standards of the villagers are generally low.
When Mr. Jiang Quanlong was young, his family life was even more difficult, his mother was admitted to the hospital due to illness, and all the burden of the family fell on his father.
Seeing his father taking on the responsibility of the family alone, Jiang Quanlong, who was only nine years old, firmly decided to share the worries and problems of his family. Although compulsory education was free of tuition, he chose to leave school in the fourth grade and devote himself to farming.
As a child, Jiang Quanlong showed an admirable maturity and sense of responsibility that surpassed his peers.
However, the poor life at the bottom of society is like an insurmountable chasm, deeply engraved in his heart. The hardships of the family environment forced Jiang Quanlong to realize that only his own continuous struggle could break the current predicament.
After entering the adult stage, he resolutely stepped into the bustling city with full of enthusiasm and only a dozen yuan of savings left, and started a new chapter in his life.
In those days, more than a dozen yuan seemed insignificant, but it was also a lot of wealth, enough to support a young man's pursuit.
For this strange and challenging city, Jiang Quanlong is full of endless curiosity. One day, he stumbled upon a job advertisement for a refractory factory and did not hesitate to submit his resume.
Starting as an inconspicuous apprentice, Jiang Quanlong has shown his diligence. In this factory, he worked hard for more than ten years, tirelessly researching professional knowledge and honing operational skills every day.
He not only learned from within the factory, but also actively consulted with experienced workers to absorb their wisdom. In his spare time, Jiang Quanlong would also buy a large number of theoretical books at his own expense for in-depth research.
Although Jiang Quanlong only received four years of basic education, he was born with a never-say-die tenacity, always holding a copy of the Xinhua Dictionary in his hand, digging into its profound connotations word by word.
It can be said that Jiang Quanlong's exquisite refractory technology is the fruit of integrating the strengths of all families and absorbing the essence of hundreds of schools.
Even those senior masters who have been in the industry for decades can't help but sigh when they see him: "It's really terrifying!" With his excellent skills, Jiang Quanlong quickly rose to become the leading technical elite in the factory, and any incurable diseases can be easily solved in front of him.
Once upon a time, the factory faced a serious technical problem, and everyone racked their brains but could not solve it, but at the critical moment, it was Jiang Quanlong who stepped forward, with accurate analysis and rigorous reasoning, and finally guided the team in the direction of progress, which amazed everyone present.
Since then, Jiang Quanlong's position in the factory has grown day by day, and he has gradually grown into an indispensable mainstay.
Until now, Mr. Jiang Quanlong has received an urgent invitation from a material manufacturing factory that is in the midst of a life-and-death situation, and they implore the industry leader to return to the distinguished position of deputy factory director to help him survive this unprecedented crisis.
At the beginning of his tenure, Mr. Jiang Quanlong quickly and decisively set off a reform movement that swept the entire factory, and with his superb wisdom and excellent leadership skills, he successfully saved this rural factory from the brink of despair.
However, Mr. Jiang did not stop there, he was keenly aware of the potential of the booming rare earth industry at that time, so he bravely decided to give up this rock-solid iron rice bowl and returned to his hometown to establish his own refractory manufacturing plant without hesitation.
Under his precise planning and hard work, the originally quiet small factory has risen rapidly and expanded rapidly, and even attracted countless overseas merchants to come to negotiate business and seek in-depth cooperation.
After earning the first pot of gold in his life, he decisively marched to the rare earth industry and established a rare earth separation manufacturing plant, although the road was difficult and there were countless challenges in the early days of entrepreneurship, but with his persistent pursuit of innovation and development and the spirit of courageous struggle, he finally developed this small factory into an industry giant!
In 1994, Mr. Jiang founded Xingwei Group, which was later renamed China Rare Earth Group. Just a few years later, China Rare Earth Group was successfully listed on the domestic and foreign capital markets, which marked that Mr. Jiang Quanlong had successfully climbed to the peak of his career.
By 2000, his personal net worth had soared to a staggering 1.1 billion yuan. According to the development trend at that time, Mr. Jiang Quanlong's future prospects can be described as brilliant.
However, who could have predicted that just two years later, in 2002, China Rare Earth Group would find itself in an unprecedented predicament, the most serious of which was performance fraud, which caused a large number of loyal customers to lose confidence in the company.
In the face of such a severe crisis of confidence, Mr. Jiang Quanlong has issued a series of public statements in an attempt to restore public trust, but to little effect.
At the same time, the Chinese government has begun to pay close attention to the importance of the rare earth industry to the country's development, and does not want private companies like Jiang Quanlong to form a monopoly in this field.
This undoubtedly dealt a heavy blow to China Rare Earth, and the company's stock price began to decline continuously.
People of insight pointed out that if Mr. Jiang Quanlong had been able to take effective remedial measures in a timely manner, perhaps China's rare earths would still be able to reverse the decline and regain their strength.
It is a pity that Jiang Quanlong, who was at the peak of his career in the past, fell into the abyss of pride and self-indulgence, turning a blind eye to all warnings and warning signs!
As a result, China's rare earth industry eventually went into decline, and Jiang Quanlong's vast business empire collapsed like a building, and his personal wealth was wiped out.
Such a glorious legend of the rich is quietly closing here, how can it not make people feel sorry? .
Jiang Quanlong, who used to be a self-made man who struggled from the bottom, should have the most profound understanding of the difficulties and obstacles of starting a business. However, after experiencing brilliant achievements, he gradually fell into the whirlpool of gambling and flashy material pleasures, unable to extricate himself.
With a huge fortune of tens of billions of dollars, he began to squander extremely, and the excitement and pleasure of gambling made him gallop around the gambling table, and the stakes became higher and higher.
At first, Jiang Quanlong may have just participated in it with a small gambling mentality, but with the ups and downs of luck, the amount of money he won and lost also showed an alarming growth rate.
Despite being a billionaire, he doesn't care about it, even believing it to be a trivial part of his family's assets.
Under the influence of his father, Jiang Quanlong's only son, Jiang Xin, also gradually fell into the quagmire of luxury and waste. One day in 2015, Jiang Xin openly displayed a luxury dining bill worth 900,000 yuan on social media.
At first glance, the price of the dishes on the bill is expensive, but the amount of the checkout is enough to make people jaw-dropping, shocked Jiang Xin then explained that the bill only shows 450,000 yuan, but in fact he also brought nearly 500,000 yuan worth of high-end wine.
For the broad masses of the people, 900,000 yuan is undoubtedly an astronomical amount, and it is difficult to accumulate it even if they work hard all their lives.
However, in Jiang Xin's eyes, this money is like a drop in the bucket, and the most important thing in the family is banknotes.
His behavior caused strong controversy and criticism in society, but the Jiang father and son ignored it and took it for granted, believing that it was their natural inheritance of wealth.
At that time, Jiang Quanlong had already been completely addicted to the casino, squandering a large amount of cash every day like running water. As for his son's education, he turned a deaf ear and didn't care about it.
When the loss situation deteriorated sharply, China Rare Earth Group fell into deep trouble.
Due to the huge deficit, Jiang Quanlong, the chairman of the company, was unable to pay off his personal gambling debts, resulting in many video game venues chasing after him and burdening him with hundreds of millions of yuan in debt!
As of 2018, the annual net profit loss of China Rare Earth has reached a staggering 5 million Hong Kong dollars. Although there has been a difficult entrepreneurial process in the past, Jiang Quanlong's current behavior is deeply regrettable.
He had achieved great things with ingenuity and perseverance, but it all came and went so quickly.
The wealth of diligence and wisdom passed quickly in the wanton profligacy of father and son, and China's rare earth empire fell apart, and the prosperity and wealth of the past were wiped out.