Chapter 538.1 - Your Auntie Wants You to Just Die Out There (Part One)
Chapter 538: Your Auntie Wants You to Just Die Out There (Part One)
What embarrassed Young Master Lee wasn’t the fact that he needed two hours to gather 10 billion for himself…
But rather, how he was going to do it.
In fact, even if a billionaire wanted to gather up 10 billion in cash, it would be quite difficult, because most of their wealth was usually tied up in stocks, assets, or other kinds of investments. But, if you don’t want to lose money by liquidating those assets on such short notice, under the assumption that you can’t liquidate those assets right away, you basically had to either borrow from a friend, or put assets up as collateral to take out a loan. As for the former option, what kind of friend would be willing to lend you 10 billion for free? Moreover, under the circumstance of communicating over the phone with no signed slips or anything? Between rich friends, maybe lending a couple of million was fine, but if the amount goes up into the billions, they would wonder what you were really up to, and they would say they have to talk to their financial planners and stuff and try to push it off, not to mention when you were borrowing 10 billion dollars.
At Three-Star, he had about 4% in shares. According to the total market value of the company at 300 billion, 4% would be about 12 billion. But, those were shares that he couldn’t sell, or he would cause an earthquake back home. The entire board of directors would shake and change up, triggering potentially qualitative changes to this family business.
Besides, as his father’s health deteriorated, his big brother, who was the planned heir of the company, was already under government pressure to reduce shares and give up absolute control over the company. If at this time, his 4% of company shares were to be put up as collateral, it would for sure be a ticking time bomb. He would become the sinner of the whole family if anything were to happen to the stocks.
Immediately, Young Master Lee didn’t know what to do anymore.
Seeing him not doing anything, Xu Cheng raised his brows and said, “Hurry up, there are 110 minutes left, Mr. Younger-Son-of-the-Head-of-Three-Star. Weren’t you just bragging about how rich you are? I’m not asking you to take out all of your Lee Family assets, just asking you to take out 10 billion to play some games with me.”
Young Master Lee was a bit dazed. He gritted his teeth and looked at Xu Cheng. Then, he picked up his phone as he said, “You want to see it? Sure!”
“Hello? It’s me. I want you to estimate the market value of all the stocks under my name and then draft a collateral agreement.”
“Are you crazy? What are you doing at a critical period of time like this? These stocks can’t be touched, don’t you know? Your father is still at the hospital, and your brother is tiring his brain out to think about how to avoid more inheritance tax to keep as many shares as he can under our family control. If you put your shares out there as collateral, then whether Three-Star is completely under the Lee Family’s control would no longer be certain. Do you understand the severity of this matter? You are just an illegitimate child, it’s enough for you to just eat and spend luxuriously. Don’t do sh-t like this.”
“Just do what I told you to do, what’s with the BS? If you can’t do it, then just get the fack out of my face, I will get a new lawyer to do this for me.”
The lawyer: “I need to report this to your big brother first.”
Young Master Lee: “If you don’t want your family to collect your body from under the Han River Bridge, you better not do this.”
The lawyer swallowed his spittle. “Then give me a moment.”
Young Master Lee nodded. After hanging up, he called up the asset appraisal team of this casino and said, “I’m putting up my company’s stocks as collateral.”
The professionals nodded. “Alright, please fax all the necessary documents to us first.”
A lot of documents and agreements were faxed in, all of which were about the shares of the Three-Star Corporation.
The appraisal report came out, the stocks were assessed to be worth 8.2 billion dollars.
Young Master Lee was immediately furious. “The market value is clearly 12 billion, how did you guys manage to shrink it to 8.2 billion? Are you guys really professionals or not?”
On the other side, the evaluation team’s representative pushed up his glasses and said, “Mr. Lee, please understand one thing, your 12-billion market value is under the premise that you are not in a rush to sell and the shares are valued at the highest available price. But right now, since you are putting it up as collateral, the value would obviously shrink. Considering the profitability of our company, we would obviously need to use a lower price to value your assets. If you do not agree, feel free to consult another appraisal company. But, let me remind you, right now on this cruise, there’s only our venture capital company that’s willing to lend you money with your stocks as collateral.”
Xu Cheng laid out his palms and shrugged his shoulders. “Then you are still 1.8 billion short. Alright, it’s time for you, young master of the Three-Star family corporation, to demonstrate the power of your connections. Who was the one that just said that a way to show how capable a guy is is through how much money he can borrow? Come on, let me see how much money you can swipe your face for. Show me how much you can get.”
Young Master Lee directly picked up his phone and called his good friends from other big families in the Bang Nation.