Wanda Group will face a major change on November 27, 2023, which will have a huge impact on the future policy direction of the entire group. This is because Wang Sicong, the only son of Wang Jianlin, the founder of Wanda Group, was silent for a period of time after several years of entrepreneurial failure, and had to inherit the family's 100 billion family property and began to officially take over Wanda's business.
What a miserable thing this is for the free-spirited son-in-law brother Wang Sicong. He worked hard for 14 years to escape such a fate, but ultimately failed and was forced to take over Wang Jianlin's business.
In 2009, Wang Sicong returned to China after graduating from the University of London, Wang Jianlin was very happy and planned to train his son from the grassroots level, gradually control the entire Wanda Group, and become his successor.
Wang Sicong had no interest in this and expressed extreme disgust with the Wanda Group, which succeeded Wang Jianlin. He resolutely does not want to become a rich second generation, but hopes that he can start a business and strive to become a rich generation.
Although Wang Jianlin is very successful outside, he has no control over his son at home.
In the face of Wang Sicong's resolute reluctance to ** Wanda and his resolute attitude of starting his own business, Wang Jianlin felt very helpless, so he could only give him 500 million yuan of start-up capital and allowed him to fail twice.
The son of the richest man in China was unwilling to **, which aroused the curiosity of the people of the whole country.
Wang Jianlin's response to this was: "If you think he (Wang Sicong) is reliable, there is no problem in handing it over to him;If you feel that he lacks ability, then let him be a shareholder, and I will hand it over to a professional manager, which is nothing. ”
can only do this, it is impossible to force Wang Sicong to do Wanda's affairs, and a career can definitely only be done according to his son's interests.
After getting the 500 million yuan given by Wang Jianlin, Wang Sicong established Pulse Capital and made a large amount of investment. From 2009 to 2018, he invested in a total of 81 projects.
In addition to investment, Wang Sicong also started his own business.
In 2011, Wang Sicong announced that he wanted to integrate the esports industry and founded the IG team.
In 2015, Wang Sicong established Panda TV, making it the third place in the live broadcast industry.
In 2019, Wang Sicong's Panda Live went bankrupt and the server was shut down. In the same year, Pulse Investment was also frozen, Wang Sicong became the person subject to execution, and his property was seized by the court.
Wang Jianlin gave Wang Sicong 500 million yuan in 2009 for starting a business, and after ten years of hard work, Wang Sicong not only completely lost the 500 million yuan, but also owed more than 2 billion yuan in debt.
The family helped Wang Sicong repay the debt of more than 2 billion yuan and gave him a sum of money again.
In the years that followed, Pulse Capital continued to invest in projects, but there shouldn't have been much gain, because the venture capital market in those years was not as good as it was a decade ago.
In January 2022, Wang Jianlin and Wang Sicong jointly established a company called "Wanda Industrial Investment", which many people think is Wang Sicong's turning to give up his entrepreneurial plan and prepare for Wanda.
In August 2022, Dalian Wanda Group underwent industrial and commercial changes, and Wang Sicong resigned as a director.
The next day, the news that "Wang Sicong is no longer a director of Wanda Group" quickly topped the hot search list on Weibo.
Obviously, there was another conflict within the Wang family, and Wang Gongzi was not willing to ** Wanda.
Wang Sicong is 35 years old this year, and he faced all kinds of hardships in his life, and was finally forced to take over hundreds of billions of family property and give up his dreams and freedom.
It's so miserable, it's so pathetic.
We need to be wary that this is the price of entrepreneurial failure, and be careful that you will become so bleak too.
According to the people of Tai'an City, on the morning of November 27, the signing ceremony of the Taishan Cultural Tourism and Fitness Center project was held, Yang Hongtao, Secretary of the Tai'an Municipal Party Committee, attended the event and delivered a speech, and Wang Sicong, chairman of Beijing Huanju Commercial Management, attended the event and was responsible for the investment and operation of the cultural tourism center.
Obviously, this project was actually undertaken by Wanda Commercial, and Wanda Commercial is good at this kind of project, and Wang Sicong's participation means that he began to exercise to take over Wanda's business.
Wang Jianlin waited for 14 years, and finally waited for the day when Wang Sicong was willing to take over Wanda.
Although Wang Sicong finally gave in, he did not give in completely and still retained his last stubbornness. At the signing ceremony, he resolutely wore a tracksuit and sneakers, in contrast to the other participants in suits and leather shoes.
Let's take a look at the official release of Tai'an City**, focus on Wang Sicong, and you will find that he is very happy.
In front of the leader, Wang Sicong abandoned his usual relaxed state and listened carefully to the leader's speech.
The once rebellious teenager, now finally willing to work seriously for Wanda, has slowly become the person he once hated the most.
Only his only remaining casual clothes kept him as he was back then, maybe in a few years, he would even change this casual dress into a suit, and at that time, Xiao Wang would really become the incarnation of Lao Wang.
Wang Sicong is 35 years old this year, and in the face of many difficulties in life, he was forced to take over hundreds of billions of family property and give up his dreams and freedom.
It's so miserable, it's so pathetic.
Be warned, this is the price of entrepreneurial failure, and be careful that you will become so bleak.