Well, in many years of business down, Wang Jianlin also saved a lot of business contacts, with the sale of Wanda assets, while the commercial transformation, not only to pay off the 600 billion debt, and even back to the king of the frame, back to the peak, the success of the Hurun list of rich people, and 120 billion worth of 2020 domestic rich list of the ninth place.
Some people may wonder why Wang Jianlin suddenly turned from a rich man to a "negative man". In fact, everything has to start from 2018. In 2017, China's second-tier and third-tier cities, the vacancy rate is 22.2% and 21.8% respectively. Even in Tier 1 cities, the vacancy rate was just a little better than that of Tier 2 and Tier 3 cities, but it was also as high as 16.8%. As a result, in 2018, China began to increase its real estate consolidation efforts, not only tightening its policies, but also enacting a series of restrictive policies. So far, Wanda's main real estate business is in trouble. However, Wang Jianlin had a premonition and proceeded to use his assets to invest in overseas projects.
But I didn't expect that in the same year, the country began to regulate the control of overseas financing, and Wang Jianlin is increasing the investment in overseas assets, layout, so that led to Wang's capital chain began to face enormous pressure. With the interruption of investment, as well as the expiration of a large number of loans, Wang Jianlin had to face a difficult decision. That is to give up overseas investment in the early stage, and sell these overseas projects, draw back funds for "self-help". At that time, Wang Jianlin has faded from the "richest halo", became a lot of people ridiculed the "first negative".
However, as the saying goes, distant water cannot put out a nearby fire, foreign projects are still in the layout, far from reaching the expected profitability of the node, so the final recovery of funds is limited. In front of Wang Jianlin, is the need to sell a large number of domestic assets, in order to get through the immediate difficulties. But this is for Wang Jianlin and Wanda, is a difficult decision, and even about the future survival of Wanda.
But in the end, Wang decided to turn the crisis into an opportunity, so that Wanda can survive the crisis and complete the business transformation. Want to transition, we have to remove the Wanda "real estate" this hat, so Wanda will be in the hands of the most valuable "Wanda Plaza" all packaged for sale.
Immediately after, Wanda will be the domestic entertainment industry either sell shares, or simply directly packaged together for sale, and ultimately completed a huge amount of cash, but also let Wang Jianlin from the "nation's first negative" re-emerged on the list of tycoons. At this time, Wang Jianlin, the name of the assets to five new areas, is a complete farewell to the identity of the real estate tycoon.
The five areas of investment chosen by Wang Jianlin are Wanda Commercial, which is still mainly based on the real economy, continue to buy land and build plazas, but this time not to choose the scope of the whole country, but concentrated in the first-tier cities. The second area is Wanda culture, in which the Wanda movie has become one of the most relied upon "cash cow".
The third area is big health, more accurately, the use of big data, AI and other high-tech, big health management. At the same time also invested in the construction of the world's most advanced medical, it is clear that Wang Jianlin believes that the medical industry is no less capable of absorbing money than real estate. The fourth area is network technology. The last area is the financial industry. The former sees the business opportunities that exist behind the ever-changing technology.
And the latter see, is to see the rise of China's financial industry. There is no doubt that this moment Wang Jianlin finally completed the Wanda re-layout, help Wanda successful transformation. And he himself, also re-emerged on the rich list. I have to say, can become China's richest man, and how can not have a few brushes? Even with a debt of 600 billion dollars, it took only a few years to pay off a clear.