Have you ever thought about the stories behind those large enterprises that we are familiar with in our daily life? Today, we will talk about the legendary life of Hsu Youzhen, the founder of Taiwan's Far Eastern Group, from an ordinary businessman to a billionaire. How did this Jiangsu native, born in 1911, develop a small grain bank into a commercial empire with a market value of more than $100 billion in the midst of the changing tide of history? How did he collude with the undercurrents of history, and how did he skillfully change his identity and continue to expand his business territory in the midst of various regime changes? The most important thing is that what thoughts did his business methods and use of power leave us? The following story will definitely open your eyes!
Xu Youzhen's story can be said to be a business epic that spans a century. In 1911, he was born into an ordinary landlord family and was originally destined for a career in office. But fate is always full of twists and turns, and a chance trip to Shanghai ignited the young Xu Youzhen's passion for doing business. He decided to go off the beaten path.
Starting as a small apprentice, Xu Youzhen's business talent was quickly put on display. At the age of 26, he co-founded the "Tongmao Grain Store", which was the starting point of his business empire. But did you know that Shanghai in this era was a place full of wars and turmoil, but it was also a place of unlimited business opportunities. Xu Youzhen's grain bank not only gained a firm foothold in the market, but also quickly expanded to the financial field, established Dafu Huafu and other securities companies, he soon emerged in the Shanghai financial circles, known as the "Gatsby of the financial industry".
Xu Youzhen's success is not just because of his business acumen. At that time, it was an unavoidable topic to maintain good relations with the regime if you wanted to do business bigger. Xu Youzhen is well aware of this, whether it is the Japanese puppet or the Kuomintang rule, he can skillfully ally with power to ensure that his cause can stand firm in any political turmoil.
In 1949, with the defeat of the Kuomintang, Xu Youzhen chose to flee to Taiwan with Chiang Kai-shek. There, he started from scratch and established the Far Eastern New Century Textile Factory, which became the prototype of the later Far Eastern Group. At that time, there was almost no textile industry foundation in Taiwan, and Xu Youzhen quickly rose in the textile industry by virtue of his preconceived advantages. But he did not stop there, and he was present in many fields such as Taiwan's infrastructure, electricity, communications, and hotels.
Xu Youzhen is not only an all-rounder, but also a prophet who understands the trend of the times. He saw the relationship between Taiwan and the United States, and asked his son Xu Xudong to go to the United States for further study and train him to become an international business leader. This series of layouts not only allows Far Eastern Group to take firm roots in Taiwan, but also extends its tentacles to Asia and even the world.
In the 21st century, Far Eastern Group has developed into a business empire with a number of listed companies and a total market capitalization of more than $108.2 billion. From an inconspicuous grain bank to such a huge multinational conglomerate, Xu Youzhen's business empire is a testament to his vision and strategy.
But then again, Xu's success has also attracted a lot of controversy. His business methods and political and business relationships are often criticized by the outside world as a game of thrones. In Xu Youzhen's family, there is even a rule - flattery to politicians. Although this approach has made them greatly benefit in the business world, it also makes people wonder if such success is also unfair.
Xu Youzhen's life is like an epic of war and peace. During the turbulent years, he not only survived, but also expanded, achieving a magnificent transformation from a small businessman to a billionaire. His story is full of legend, but it also reflects the complexity of an era. The fact that he was able to survive and prosper in a variety of political systems was not only a sign of luck, but also a sign of ability and wisdom.
And Xu Youzhen's business philosophy has also been inherited among his descendants. His son, Hsu Xu-dong, returned to Taiwan after being educated in the United States and continued to expand the family's business empire. Xu Xudong not only inherited his father's business acumen, but also added modern management concepts, making the Far Eastern Group stronger and stronger in the wave of globalization.
However, behind all success, there is always sacrifice and controversy. The story of Xu Youzhen allows people to see the changes of an era and the history of a person's struggle, and at the same time, it also makes us think about whether real success should be achieved under the premise of abiding by rules and morality, and where should we draw the boundary between morality and law on the road of pursuing profits?
Xu Youzhen's life is a life full of legends. He was not only a successful businessman, but also a witness of the times. His business empire and his interactions with various regimes show how one can find one's footing in turbulent times. But his story also leaves us with a deep reflection on how to balance moral and legal requirements in the pursuit of economic gain, which is a question that every businessman, and indeed everyone in the fierce competition, needs to face. The story of Xu Youzhen is worth pondering for each of us.