Reaching the age of thirty, my income randomly doubled-Chapter 874 - 662 Transfer and Acquisition_2

Clearing the core assets of Wanda Business Management, as well as restructuring its debts, including various taxes.

It can be said that this is a massive undertaking.

Of course, the detailed work will naturally be handled by the group’s staff.

Chen Pingsheng sighed to himself. Back when he was still setting up street stalls, the figure before him now was already riding high on success.

Wanda Plazas were sprouting across the nation, and his son was even hailed online as a "national-level son-in-law."

In the blink of an eye, ten years have passed, and now this enormous commercial real estate enterprise is about to land in his hands.

He could even use it to quickly roll out his Tengfei New Energy offline retail stores across the country in one fell swoop.

Not to mention building an unparalleled department store system in record time while adding the advantage of strong branding.

It can be said that acquiring Wanda Plaza holds significant meaning even for the celebrities under Tengying Entertainment.

Let alone the many cinemas he has under his offline business lines.

In short, given the absence of a financial crunch, this is an exceptionally worthwhile investment.

As a result, he redeemed 1.5% of his holdings in NVIDIA to liquidate them directly.

He exchanged this for hundreds of billions of US Dollars to acquire 60% of Wanda’s controlling shares.

For him, this deal felt like a delayed acquisition three years in the making. Regardless of whether he wanted it or not, the news caused an uproar throughout the financial world once it broke.

One must understand, this is no longer the golden age of real estate. If it were, this acquisition wouldn’t have been so dramatic.

In the past, real estate tycoons loved to take out enormous loans to fund big investments here and build massive new cities there.

But in today’s economic climate, cash reserves are tightened as people dare not release significant liquidity from their corporations.

Let alone take the bold step he did of putting up 72 billion RMB in cash to complete the acquisition without taking any bank loans.

When this news broke, people weren’t shocked by Tengying Group’s acquisition of Wanda’s controlling interests; rather, they were astonished that he didn’t need any bank loans.

How much cash flow must one have to achieve this?

It was almost impossible for Chen Pingsheng not to gain fame from this. However, this acquisition was carried out through Tenghui Investment Fund, registered in Xiangjiang under his name.

The names of the shareholders were all offshore companies, making it difficult for the average person to trace; but those with access to channels naturally understood.

This was ultimately a capital firm under Tengying Group, registered in Xiangjiang.

No matter how convoluted the trail, it all came back to being under the umbrella of Tengying Group’s capital arm.

A deeper investigation reveals that between 2021 and 2022 alone, Tengying Group cashed out close to 300 billion dollars through its investments in Tesla.

Additionally, it is one of the largest shareholders in both NVIDIA and Google. In just a decade, through unimposing but strategic investments, it netted 400 to 500 billion dollars.

For it to mobilize upwards of 72 billion RMB in cash is nothing unthinkable.

Starting in 2016, it had been heavily investing in the new energy and AI industries.

Domestically listed new energy vehicle companies—almost all of them had received investments from it.

Tesla, in particular, was transformed into a major equity holding of Tengying while it was also a standout player among domestic new energy vehicle enterprises.

When Tengying Group mobilized 72 billion RMB in cash to complete the acquisition, the world essentially understood just how super-rich they were—far beyond the scale of ordinary large enterprises.

Yet, as the saying goes, "The bigger the tree, the more wind it attracts." This was never a good thing.

Especially when attracting such attention. Upon returning to Magic City, Chen Pingsheng candidly acknowledged one key issue.

Indeed, his investments in Tesla, Google, and NVIDIA brought immense profits.

Compared to those, his traditional publicly listed businesses seemed insignificant. ƒrēewebnoѵёl.cσm

As for the online rumors calling him a supposed "half-arms boss" of the entertainment industry, they held no weight for him.

Chen Pingsheng also took decisive action to quickly quash those who harbored ill intent toward him.

During a press conference he held in Magic City, he boldly announced:

Should NVIDIA’s valuation one day exceed 800 billion US Dollars, he would annually donate over 5 billion RMB to Magic City’s three top-tier universities.

The duration of this commitment would be twenty years.

If NVIDIA’s valuation ever surpassed 1 trillion US Dollars, he would additionally pledge an annual donation of 3 billion RMB to Magic City.

This, too, would last for twenty years. What does this mean?

Once NVIDIA’s valuation exceeds 800 billion, he will donate 5 billion RMB annually to Magic City’s universities.

And if it surpasses 1 trillion, he will give 8 billion RMB each year to Magic City.

And this commitment period would last two decades.

Many people didn’t understand why he would do this. Only those at his level realized this was an immensely strategic and mutually beneficial decision.

Simply put, all his NVIDIA shares were overseas assets, and if anything were to happen to him within these twenty years, the arrangement would be immediately voided.

If nothing happened during that time, he would need to donate 8 billion RMB annually, amounting to 160 billion across twenty years.

Even if NVIDIA’s valuation hit a trillion dollars at some point, the 4.5% of shares he retained equated to donating roughly half of his holdings.

No one would have any grounds to say anything.

Nor would anyone dare harm him as a result. If anyone tried, Magic City itself would oppose it first.

This is the epitome of "spending money to buy peace"—the highest level of securing safety.

Undoubtedly, he had no choice but to take this step.

Otherwise, with overseas assets exceeding 400 billion dollars, there would be far too many people coveting his holdings.

But now, by effectively pledging half of it to Magic City, albeit over two decades, who would still dare set their sights on him?

It can be said that, in significant matters, Chen Pingsheng never hesitates.

Whether or not he acquired Wanda, this was a route he would inevitably have to take.

Instead of dithering, he opted to act decisively.

As soon as he made the announcement, Magic City immediately came to his protection.

A flurry of Magic City financial news outlets praised his entrepreneurial spirit.

Anyone with a discerning eye could tell what was going on.

As a result, Chen Pingsheng earned a reputation as Magic City’s most renowned philanthropist. Even on a national level, he became one of the leading figures in the charity sector.

By the time the twenty-year pledge is fulfilled, he would probably have become the highest-donating privately-owned enterprise in the country.

The declarations weren’t just empty promises. In the very first year, he liquidated another 0.5% of his NVIDIA holdings, securing 3.5 billion US Dollars, roughly equivalent to 24 billion RMB, to establish a dedicated Tengying Magic City Special Charity Fund.

The fund was created purely for fulfilling his personal donation commitments.

It can be said that he handled this matter decisively and efficiently.

No sooner had he announced the donation plan than he allocated over 20 billion RMB to initiate it.

Who else could demonstrate such sincerity?

The effect of his donations was also profound. Magic City’s three universities collectively organized special Pingsheng Genius Study Programs in his honor.

This was not only an ultimate acknowledgment of his status but also a substantial return in terms of enhancing his personal reputation.

Suffice it to say, after achieving this, both he and his wife could feel far more secure.

Just as in the stock market, where big fish eat small fish and small fish eat krill, even in the eyes of higher powers, he was just a slightly larger fish.

Being able to retreat safely after obtaining wealth exemplifies a higher level of business acumen.

Outsiders only saw the vast sums he donated but understood nothing of its underlying significance.

If NVIDIA’s valuation ever surpassed 2 trillion dollars, he would not hesitate to donate close to 20 billion each year to Magic City.

By then, anyone who dared challenge his authority within that region—legally or otherwise—would pale in comparison.

Whether that day would ever come was anyone’s guess.

Returning to reality, he truly wasn’t short on money anymore, with personal business assets already abundant.

Going forward, profits wouldn’t be his main focus but rather a better quality of life and achieving the ultimate dream of manhood:

To establish his own technology empire.

Beyond that, it’s hard to imagine what else he wouldn’t be able to accomplish.

Give him another twenty years, and he could transform the Old Chen Family into a sprawling, deeply rooted clan.

All of this indicates a long-held readiness.

While others might choose to settle abroad, he preferred staying in his homeland.

The money earned from this land being reinvested back into it is also a form of societal responsibility for an entrepreneur.