A few days ago, Jia Yueting said that over the years, he has repaid more than $10 billion in debt, and according to US law, he no longer owes debts.
Jia Yueting also said that returning to his homeland is his biggest dream, and he is looking forward to returning to China as soon as possible after the success of his car-making business and the payment of all debts.
Jia Yueting actually doesn't owe debts anymore, it is estimated that many people will feel impossible when they hear this, because 5 years ago, the debt recognized by Jia Yueting was about 3 billion US dollars, about 20 billion yuan, and he has no income in the past 5 years, how can he pay off the 20 billion yuan?
This has to mention Jia Yueting's operation 4 years ago, that is, personal bankruptcy reorganization, in the United States, individuals can also apply for bankruptcy, so Jia Yueting filed for bankruptcy.
So he sat down to negotiate with the creditors how to repay the debt, at that time Jia Yueting said that he had no money, only FF Faraday stock, or I will FF Faraday stock to offset everyone's debt, anyway, I have no money.
Of course, in this process, Jia Yueting will draw cakes for these creditors, saying how strong FF Faraday is, and after the success of building a car in the future, it will definitely rise sharply, just like Tesla, after all, FF91 is a car with 2 million units, which is really far ahead.
Jia Yueting also promised them that FF Faraday will be successfully listed next, and after the listing is successful, the car will be built, and everyone's debt will not be a problem, and it will increase in value and make money.
These creditors have no choice, and there is no other choice, anyway, Jia Yueting has no money to go bankrupt, so he can only bet that Jia Yueting's FF Faraday can succeed, so that he can get the money back, so he agreed to this plan and exchanged shares for debts.
At that time, Jia Yueting recognized a debt of 2.96 billion US dollars, that is, about 20 billion yuan, which became a 17.2% equity interest in FF (calculated in the proportion of FF when it was listed).
According to the accounts, if the market value of FF Faraday exceeds $17.3 billion, then the 17.2% stake held by these creditors will exceed $2.96 billion, and the creditors will not lose money, and some will make money.
If it rises to $173 billion, the $2.96 billion debt of creditors will become $29.6 billion, a tenfold increase.
It's a pity that painting cakes is painting cakes after all, Jia Yueting's FF Faraday is a joke at all, FF91 has only been delivered 11 units so far, and it is really difficult to say whether there is a future or not.
The market value of FF Faraday, not to mention 17.3 billion, is still worth $1.78 million, which is 10,000 times worse than the 17.3 billion that creditors have returned, which means that the debt of $2.96 billion of creditors is now only worth $300,000......
It was through such a move that Jia Yueting broke out of his shell and achieved zero personal debts, so he said that he no longer owed debts.