In 2015, Wang Jianlin's Wanda Group can be said to be in full swing, with business covering various fields such as real estate, culture, and tourism, with total assets of more than 600 billion yuan. The good times did not last long, and the changes in the domestic economic situation gradually exposed the debt problem of Wanda Group.
In 2017, Wang Jianlin began the difficult road of "deleveraging". He divested Wanda Group's non-core assets, first selling his hotels and cultural tourism projects, and then transferring the shares of Wanda Film and Wanda Sports. In 2018, Wang Jianlin sold 77 Wanda Plazas in one go, cashing out nearly 50 billion yuan.
Wanda's debt problem has not been fundamentally alleviated. The outbreak of the new crown epidemic in early 2020 made matters worse, and Wanda Group's commercial real estate, cinema chain and other businesses were hit hard.
Faced with huge debts and business difficulties, Wang Jianlin did not choose to escape. He has said many times that "I have an unshirkable responsibility for Wanda" and "even if I smash the pot and sell iron, I must pay off the debt".
So Wang Jianlin started a larger-scale "fire sale" model. In July 2020, Wanda Group announced the sale of the Vista Tower project in Chicago to cash out about US$300 million; In November, the Léman circuit project in Belgium was also sold, valued at around 150 million euros. In 2021, Wang Jianlin successively sold overseas assets in London, Sydney, Gold Coast and other places.
Through unremitting efforts, Wang Jianlin finally paid off all the debts of Wanda Group in 2023 and successfully achieved "zero debt". According to statistics, Wang Jianlin has sold more than 600 billion assets in the past eight years, including many core projects of great value, but he has not sold an inch of land.
Some people say that Wang Jianlin is an entrepreneur who stands up to the sky, he did not evade his responsibilities but chose to face the predicament and work hard; Some people also say that Wang Jianlin is an unswerving patriot, and under the temptation of huge interests, he still adheres to the national righteousness and defends the dignity of the country.
Wang Jianlin interpreted the true connotation of "responsibility" and "responsibility" with practical actions. In him, we see the pure heart of a private entrepreneur, and we also see the responsibility and responsibility of a Chinese. It is precisely the countless private entrepreneurs like Wang Jianlin who have supported China's economy.
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