Chapter 258: The Richest Man in the World
Of course, this is just a plan that Li Xuan suddenly came up with, and before setting up an MPF investment fund, he must first establish the amount of salary increase this time. In fact, it is not appropriate to call it a salary, because it is not directly paid to the employee, but rather a benefit with certain preconditions.
Since the beginning of the Sino-British negotiations, the exchange rate of the Hong Kong dollar has begun to enter a depreciation channel, which will depreciate from the current 1:6.2 against the US dollar to 1:9.6 at the end of September next year. In the end, the Hong Kong government introduced a floating exchange rate, and only then did it stabilize the exchange rate against the US dollar at 1 to 7.8.
Hong Kong is a free port, many things are imported, and the depreciation of the currency has directly led to an increase in the cost of living for residents, and various companies can only raise salaries. Now, Dongfang Electronics Co., Ltd. can not only win a good reputation by taking action before other companies do not raise salaries, but also reduce the resistance of employees. After all, the actual income of everyone's hands has not decreased, and there is an additional future life security, why not!
Li Xuan put Yang Lingjun in charge of setting up the Oriental Guarantee Investment Fund, and on the other hand, he discussed this plan with other high-level executives. Since Li Xuan, the boss, put forward the plan himself, others will naturally not jump out to block the financial path of all employees.
But how exactly should this matter be handled, and what percentage of salary increase should be appropriate, and should it only involve Hong Kong employees, or should it be extended to the entire multinational company? After all, countries such as Japan and other countries have a very complete social security system, and Dongfang companies have been forced to pay various security benefits for their employees. And the mobility of employees in Silicon Valley in the United States is very large, if the conditions mentioned by Li Xuan are adopted, will they be accused of violating the law.
These problems need to be solved by the people below, and Li Xuan, as the boss, is only responsible for putting forward ideas and finally accepting the results. It will be a few months before the investment fund can really operate, but the plan has just begun to be prepared, and there has been gossip throughout the company, which makes all employees love Li Xuan, the big boss who took the initiative to raise his salary.
In the past few days, there is one thing that makes Li Xuan very happy, the American "Time" magazine made an appointment with him, and specially filmed an interview team flying to Hong Kong to conduct a face-to-face interview, and he will be on the cover of the current issue at the same time with the text in the near future. This is the first time Li Xuan has enjoyed this kind of courtesy.
The first time Time magazine introduced Chinese on the cover was the bust of Wu Peifu in the September 8, 1924 issue, when Time magazine introduced him with the headline "General Wu, China's Strongest Man."
Later, a series of Chinese faces appeared on the cover of Time magazine, all of whom were well-known political figures. The last Chinese to appear on the cover before was Deng Lao, the chief architect of reform and opening up. When he visited the United States in 1979, Time magazine used the headline "Deng is coming" to give a comprehensive account of the red storm caused by the visit of the second-generation Chinese leader to the United States. And Li Xuan will be the first Chinese business face to appear on the cover of Time magazine.
Duncan is a very famous foreign correspondent for Time magazine, and has interviewed countless celebrities in his decades-long career, but today's interview is particularly interesting. Originally, the title he conceived was "The Legend of Wealth from the East", but Li Xuan was obviously reluctant to talk too much about his wealth story.
On the contrary, the two of them have a very meaningful vision of the huge changes that personal computers will bring to the whole world. In Li Xuan's description, the computers of the future will not be isolated and stored, but will be connected into a super system, like a huge spider web, in which the entire earth is webbed.
People can use the network in front of the computer screen, communicate with friends thousands of miles away in real time, they can go shopping directly through the computer without going out to the mall, and they can also browse the news and share their feelings through the computer.
In fact, Duncan listened to the world decades later described by Li Xuan as a science fiction story, but Li Xuan's description was so specific that he saw that the young man in front of him had such a divergent imagination. It is no wonder that the company under his leadership has been able to produce one product after another that is sought after by consumers all over the world.
The technicians love Orient's software and computers, and game fans love Orient's arcades, GameBoy, and FC. A person with unlimited creativity is always more likely to succeed. Li Xuan just briefly retold the era of information explosion that he had experienced in another life. Although Duncan didn't believe it, he had already made up the reason for his success.
The young man in front of me who talks endlessly is first a technology inventor who has countless new ideas and is willing to experiment with them, and then a billionaire who has made countless dollars for the success of his products. Such a story outline is instantly full of positive energy, and there is a lot less copper smell.
Li Xuan intends to show the unique temperament of some engineering men, hoping to establish an image of an entrepreneur full of upward firepower in the eyes of this famous reporter of Time magazine. In fact, his strategy was so successful that it was not long before Time magazine published an interview with Duncan entitled "The Magical Oriental Fantasy".
But when Li Xuan appeared on the cover of Time magazine, another well-known magazine in the United States also chose him as the cover character, and accompanied him with the sentence "America's RichestMan" under his big profile picture. This sentence translates to "the richest man in the United States"!
In the September 1982 issue, Forbes magazine announced the Fortune 400 in the United States for the first time, and the first place on this list was Li Xuan. Well, in fact, Li Xuan is not an American, why is he in the limelight of Americans in this world's first systematic and authoritative list of personal wealth in history!
Because the editors of Forbes magazine really can't ignore Li Xuan's existence. A portion of Li Xuan's most famous fortune comes from an equity stake in Aikang, which alone is worth $2.25 billion for his 60 stake in Aikang.
If iKang is a company listed in London, England, it should not be included in the statistical range of the US wealth list. Then Dongfang Electronics has just completed an equity deal with IBM, which spent $300 million to acquire 25 of Dongfang System Software.
Prior to the completion of this transaction, Dongfang System Company and Dongfang Application Company, which were spun off by Dongfang Software Company, each completed the replacement with 25 shares. In other words, IBM finally acquiesced to the original valuation of Oriental Software at $2.4 billion.
Even if the $300 million in cash after the equity transfer goes into the account of Oriental Technology Holdings, the remaining shares of the two Silicon Valley-based software companies you choose to hold are still worth $2.1 billion. What's more, another American company under Li Xuan's name, Computer Park Company, has recently attracted the attention of countless investors after the news that it is preparing to go public. Most institutions believe that the valuation of computer park companies is at least $1 billion.
In other words, Li Xuan's main assets in the United States are worth more than $3 billion. In the list compiled by Forbes this time, the richest billionaire outside of Li Xuan is the American shipping industry tycoon, Daniel K. Ludwig. The total value of his shipping, real estate, and overseas investments is $2 billion, which is less than Li Xuan's assets in the United States.
Therefore, after deliberation, the editors of Forbes magazine did not hesitate to put Li Xuan in the first place in the Fortune 400 in the United States. As for whether Li Xuan's status as a Hong Kong is qualified to be selected as one of the Fortune 400 in the United States, will it cause controversy among everyone? The magazine and the editorial department are not worried at all, they wish that the debate would be more intense, so that the influence of the new list of the Fortune 400 in the United States and Forbes magazine for the first time can be more spread.
The fact that the wealth ranking of the United States is topped by a foreigner is indeed a shame for the American people. But Li Xuan's wealth is really there, and the editors of Forbes magazine carefully listed all the assets in Li Xuan's name. The combined U.S. and U.K. parts alone are $4.35 billion.
In addition, Forbes magazine gave a conservative valuation of $1.6 billion for Oriental Games, $500 million for Oriental Research Institute, and other companies such as Jiahua Bank, ATV Group, and Oriental Commercial, as well as your 9.5% stake in Standard Chartered Bank, and other Hong Kong electronics companies around the Oriental system, all of which have a total valuation of $600 million. In this way, Li Xuan's assets in Hong Kong are at least $2.7 billion.
When all the assets are combined, Forbes magazine came up with a total personal wealth of $7 billion, far ahead of Daniel K. Ludwig's $2 billion.
As soon as the new issue of Forbes magazine hit the market, the whole United States was boiling. The United States is a commercial society, and most people do not worship politicians, do not worship scientists, and prefer entertainment stars and sports stars, preferring the dollar. And Li Xuan is undoubtedly the person who has the most dollars in this era.
And Li Xuan's rise was so sudden, Forbes magazine has dug up his entire family history. There is no gray money and power trading, there is no huge inheritance, a student who graduated from middle school, relying on this summer part-time job, has gathered such a huge wealth in just three years from scratch.
The September issue of Forbes magazine was sold out, and countless American readers wanted to know about the amazing richest man in the East, and the cover of Time magazine undoubtedly added a timely fire. At the beginning of September, the whole of America was occupied by a Chinese face, and the craze quickly spread to the world, and the latest enthusiastic response was undoubtedly London's Fleet Street.
They are no strangers to Li Xuan, when Aikang Computer Company was listed last year, there was a round of speculation in British newspapers such as "The Times" and "Financial Times", but they did not expect that after just over a year, Li Xuan's wealth has accumulated to a jaw-dropping level! R1152