Zhang Xueliang died in 2001 at the age of 101. In the aftermath of his death, a puzzling mystery emerges – Zhang Xueliang has been under house arrest for 54 years, his life has been restricted, and he should have been destitute, but his bank accounts show the existence of a huge amount of wealth. Where does this astronomical wealth come from? How can a prisoner accumulate such a sizable legacy?
What is even more interesting is that this sensational historical figure ended up donating his entire legacy to Columbia University in the United States, rather than to his own children and grandchildren. Zhang Xueliang's life trajectory can be called a bizarre legend, and the mystery of his source of wealth and belonging may also need us to explore. Is the origin of wealth tortuous and difficult? What is the motivation for donating? What are the causes and consequences of the mystery of Zhang Xueliang's legacy?
Zhang family accumulation: Zhang Zuolin's family foundation
Zhang Zuolin single-handedly created the family foundation of the Zhang family and laid a solid foundation for Zhang Xueliang's future. Zhang Zuolin was born in a poor family in Northeast China, and has shown extraordinary courage and resourcefulness since he was a child. At the age of 13, he witnessed the tragic murder of his father, but instead of crying like other children, he was determined to avenge his father, showing an extraordinary mental maturity.
Although revenge failed, this experience became a key opportunity for Zhang Zuolin's life to turn around. In order to survive, he traveled in various professions, from veterinarians to long-term workers, to bandits, and went through ups and downs. Finally, by chance, Zhang Zuolin joined the warlord forces under Yuan Shikai, climbed from an ordinary soldier to the position of a general step by step, and made great achievements.
Zhang Zuolin has a unique vision, he does not only understand military affairs, he is better at controlling the overall situation. With his extraordinary resourcefulness, he aimed at the turbulence of the situation in the Northeast at that time, took the opportunity to rise, and won the control of the three northeastern provinces at that time in one fell swoop. As the supreme military commander of the three eastern provinces, Zhang Zuolin's power and wealth spread all over the land of China, with a monthly income of up to 3,400 oceans, and an astronomical amount of 50 million yuan in cash assets disclosed on the surface alone.
And this is only part of Zhang Zuolin's net worth that can be publicly revealed, and he even transferred a large amount of wealth to a Swiss bank through secret channels, secretly hoarding a large amount of private money. In addition to cash, Zhang Zuolin also purchased a large amount of land and real estate in various parts of Northeast China, building an unbreakable family industry map.
Although the "Huanggutun Incident" in 1928 took Zhang Zuolin's life, the rich family inheritance was entrusted to his eldest son Zhang Xueliang. When Zhang Xueliang succeeded as the new "real power figure" in Northeast China, he inherited not only power from his father, but also 50 million cash, tax revenue from the three northeastern provinces, 300,000 elite troops, the largest arsenal in the country, and the Zhang family's land and real estate in various places.
Such a rich family accumulation laid a solid foundation for Zhang Xueliang's later life experience. Even during his 54 years in captivity, Zhang Xueliang was still able to live a relatively prosperous life, because of the huge wealth left by the Zhang family.
Zhang Xueliang took over the difficult task: the help of his wife Yu Fengzhi
After the Huanggutun Incident in 1928, 27-year-old Zhang Xueliang inherited the power and wealth left by his father Zhang Zuolin and became the supreme commander of the Northeast region. However, maintaining this family business is far from easy. When Zhang Xueliang first took power, he was in a difficult situation both internally and externally, and faced many tests from all sides.
Internally, the Zhang family continued to fight and conspiracy, and his brother-in-law Zhang Xueyu, Zhang Xueliang's old department Yang Yuting and others were embarrassed, trying to replace them and get a piece of the pie. Externally, Feng Yuxiang, Yan Xishan and other northern warlords are eyeing the Northeast and Northeast China. There was also a great threat from Japan, and after the September 18 Incident, the Japanese army began to encroach on the Northeast.
In this crisis-ridden situation, Zhang Xueliang indulged in smoking, drinking, and extravagant life, and the collection of antiques, calligraphy and paintings became his habit, and his expenditure in this area was simply excessive. As a result, the expenses of the marshal government are becoming heavier and heavier, while the income is shrinking.
All this is likely to burn down the entire Zhang family's family business. At the critical moment, Zhang Xueliang's wife Yu Fengzhi stepped forward and used her extraordinary wisdom and skills to reverse the crisis, and finally became the mainstay of the Shuaifu's difficult maintenance.
Yu Fengzhi was born in a wealthy merchant family, received an aristocratic education since he was a child, and has excelled in many aspects. After she married into the Shuai Mansion, although Zhang Xueliang thought that she was from a low background and had always ignored her, Yu Fengzhi was never stopped by these.
She first tried her best to dissuade Zhang Xueliang from quitting those indulgent hobbies, and set her sights on financial investment to readjust the Zhang family's industry. She reduced the unnecessary expenses of the Shuai Mansion, realized the assets of the Zhang family in various places, and pooled the funds into the bank. At the same time, she also coordinated the Zhang family's industries in various places to increase income.
After the September 18 Incident, the Japanese army conducted a thorough inventory of the Shuaifu, but was surprised to find that the gold, silver and jewelry treasured by the Shuaifu actually filled two train cars. Most of these are due to Yu Fengzhi's outstanding talents in financial management.
Yu Fengzhi is not only good at financial management, but also has a unique way of investing. As early as the early 30s, she started investing in the stock market and made a lot of money. This not only brought considerable income to the Shuaifu, but also allowed the Zhang family's wealth to be preserved in the later war years.
After the Xi'an Incident, Zhang Xueliang was placed under house arrest by Chiang Kai-shek. Yu Fengzhi then sold most of the remaining property of the Zhang family, transferred it to an overseas bank, and went to the United States to do business and manage money in person to provide for her husband Zhang Xueliang and Zhao Yidi. It was with Yu Fengzhi's wisdom that the Zhang family was able to survive that most difficult period, and Zhang Xueliang's huge wealth was thus preserved and continued.
Until his death, Yu Fengzhi has been working for her husband's property, which can be said to be a solid support for Zhang Xueliang's career and a hero for the inheritance of the family business. If it weren't for Yu Fengzhi's virtuous help, the Zhang family's family business would have been wiped out.
The Xi'an Incident and Chiang Kai-shek's house arrest: Inheritance preservation is difficult
On December 12, 1936, the famous "Xi'an Incident" kicked off. Zhang Xueliang and Yang Hucheng joined forces to detain Chiang Kai-shek and demanded that the Kuomintang and the Communist Party unite to resist Japan. This deafening move shocked China and the world, and also brought a complete turning point in Zhang Xueliang's life.
The Xi'an Incident eventually ended in reconciliation between the two sides, but it was followed by Chiang Kai-shek's severe punishment of Zhang Xueliang. In May 1937, Chiang Kai-shek ordered Zhang Xueliang to be placed under house arrest in Leshan, Sichuan, beginning a long prison career. At the same time, Chiang imposed a complete freeze on the Zhang family's property and bank deposits in Northeast China.
Previously, although Zhang Xueliang and his wife Yu Fengzhi had transferred most of their family property overseas, the part of their wealth that remained in China was still frozen. Under Chiang Kai-shek's severe suppression, Zhang Xueliang fell into an unprecedented predicament, and his family wealth was unsustainable.
The living conditions in Leshan were extremely harsh, and Zhang Xueliang was once locked up in a dark and damp cell, a small room of only 6 square meters. Even if he was later "preferential", he could only live in a dilapidated green building. Zhang Xueliang only has 500 yuan a month for living expenses, and it is difficult to maintain food.
This is undoubtedly a heavy blow to Zhang Xueliang, who has been worry-free since he was a child. In order to maintain her husband's life, Yu Fengzhi had to run around and sell the remaining family property. She first remitted the only cash in her hand to Zhang Xueliang, and soon there was not much left.
Next, Yu Fengzhi set his sights on foreign countries. She took the Zhang family's only remaining precious calligraphy, paintings and antiques to the United States to do business and manage money. By selling treasures and opening an antique shop, Yu Fengzhi finally secured a certain source of income for Zhang Xueliang.
However, with the strength of Yu Fengzhi alone, it will be difficult to sustain after all. At this time, Zhang Xueliang's brother-in-law Zhao Yidi stepped forward and provided him with help within his ability. Zhao Yidi himself is a wealthy businessman, and he channeled funds for Yu Fengzhi through his business channels in Shanghai.
With the relay help of Yu Fengzhi and Zhao Yidi, Zhang Xueliang's life was maintained. Even so, Zhang Xueliang's 14-year prison life in Leshan was still extremely difficult. Due to the lack of exercise, his weight plummeted and his health deteriorated.
It was not until 1949, after the Kuomintang government was defeated and retreated to Taiwan, that Zhang Xueliang was released and left Leshan, and his long prison career was over. But during this period, the Zhang family's original huge wealth went through the whole process of sweating and paying a heavy price. If it weren't for the help of Yu Fengzhi and Zhao Yidi, the Zhang family's wealth would probably be cut off.
Zhang Xueliang's new life in his later years: the continuation and expansion of wealth
In October 1949, after Zhang Xueliang was released and left Leshan, he went to the United States to settle down. In this strange country, he opened a new chapter in his life. Although he is old, Zhang Xueliang did not age, but continued and expanded his wealth.
When he first arrived in the United States, Zhang Xueliang really had nothing, but he still had the accumulation of his wife Yu Fengzhi's hard work overseas for many years. Yu Fengzhi cashed out the antique calligraphy and paintings she had collected for many years and provided her husband with a certain amount of start-up capital.
The availability of funds gave Zhang Xueliang a chance to regain his footing. He soon bought an apartment worth $80,000 in Manhattan, New York, as a place for his family to live. At the same time, Zhang Xueliang also began to enter the field of real estate investment.
In the early 1950s, Zhang Xueliang purchased a number of properties in the New York metropolitan area and hired professionals to rent out and maintain them. Through shrewd operation, Zhang Xueliang soon profited handsomely. In the decades that followed, Zhang Xueliang worked his way up the ranks in New York's real estate sector, eventually becoming a well-known real estate tycoon in Manhattan.
In addition to real estate, Zhang Xueliang also set his sights on the stock market. In the early 1960s, Zhang Xueliang began to try to invest in the stock market. At first, he tried it out, but soon he learned it. With his extraordinary insight, Zhang Xueliang has repeatedly captured investment opportunities in the stock market and earned considerable returns.
Interestingly, Zhang Xueliang eventually became a well-known "senior investment guru" on Wall Street. He does it himself, never hires a broker, and observes the stock market almost endlessly throughout the year. Even though he is over 90 years old, Zhang Xueliang still gets up at 6 o'clock every day to keep an eye on the opening of the stock market. It can be said that stock market investment has become almost all of Zhang Xueliang's life in his later years.
Another thing that made Zhang Xueliang's wealth swell rapidly was his collection of antique calligraphy and paintings. As early as the Northeast period, Zhang Xueliang was already fond of collecting antiques, calligraphy and paintings, and had spent a lot of money to purchase many national treasure-level cultural relics. These collections then accompanied Zhang Xueliang all the way to and from place to place, and they were not dispersed after several setbacks.
After entering the 80s of the last century, China's antique calligraphy and painting market has seen explosive growth. The collection in Zhang Xueliang's hand was suddenly worth a hundred times. As a result, he began to sell these collections at overseas auction houses, making hundreds of millions of dollars.
Overall, through a three-pronged approach of real estate, the stock market, and antique calligraphy and painting, Zhang Xueliang regained a considerable fortune in his later years. When he died at the age of 103, he was reported to have left behind an estate of up to $300 million. This wealth figure has far exceeded the total assets of the Zhang family during the Northeast period.
This is undoubtedly due to Zhang Xueliang's development and growth in the United States in his later years. From having nothing to eventually becoming a billionaire, Zhang Xueliang used his own struggle to give new vitality to the Zhang family's wealth. He not only continued the wealth tradition of the Zhang family, but also pushed the family wealth to a new height.
The Ultimate Fate of the Zhang Family's Wealth: Dispersal and Donation
After Zhang Xueliang passed away, the huge inheritance he left behind could not escape the fate of the family wealth. On the one hand, the descendants of the Zhang family were too extravagant, which led to the rapid dispersion of wealth; On the other hand, the descendants of the Zhang family also donated generously and donated a large amount of wealth.
At the time of Zhang's death, his $300 million estate was divided equally among his five children. This undoubtedly brought tens of millions of dollars of God-given wealth to each of them. But it's a pity that Zhang Xueliang's children and grandchildren did not manage and maintain this inheritance well.
The most famous of these is Zhang Xueliang's eldest son, Zhang Xianshen, and his descendants. Zhang was once a successful businessman and owned many businesses in the United States. However, due to his extravagant life, Zhang devoted himself to squandering the wealth bequeathed to him by his father.
Interestingly, Chang's dedication focused on one thing: the construction of a lavish private swimming pool in his Maryland mansion. The pool is made of imported Italian marble and has gold leaf inlaid at the bottom. It is said that the swimming pool alone cost the Zhang family more than $1 million in fortune at the time.
In contrast, Zhang Xueliang's other children seem to be more frugal, but the loss of wealth is inevitable. Zhang Xueliang's fourth daughter was in the real estate business, but due to poor management, they eventually squandered their father's inheritance to them.
Of course, another important reason for the decline of the Zhang family's wealth is the generosity of future generations. They donated large sums of money to various causes, which accelerated the loss of family wealth.
Among them, the most well-known is the "Zhang Ji Cultural and Educational Foundation" established in Chicago by Zhang Xueliang's second son Zhang Dongsun and his wife Liang Baozhen. The foundation, which is dedicated to funding some of the toughest research projects, is highly regarded locally. However, due to the poor operation of the foundation, it eventually cost more than 100 million yuan, which further caused a large loss of wealth of the Zhang family.
In addition, Zhang Xueliang's eldest son Zhang Xianshen and second daughter Zhang Xiaoqin and his wife also donated hundreds of millions of dollars in Los Angeles to build a charity hospital. The hospital was named "Zhang Dedication-Zhang Xiaoqin Charity Medical Center" and became one of the largest medical institutions in the region.
end
It is not difficult to see that the dedication of the descendants of the Zhang family to charity has effectively promoted the consumption of family wealth. Although the wealth accumulated by Zhang Xueliang throughout his life still left a rich family property for his children and grandchildren, the descendants failed to manage and continue it well, and finally could not escape the fate of family wealth.