Fight to the third generation

Fortunately, there is also a conflict of interest among card issuers. Out of consideration for the interests of consumers, most of them dare not blatantly suppress Paypal, which "works for the welfare of consumers", lest it look too ugly, so Su Yehao is not too worried.

Hear him finish.

Elon Musk understood, laughing and saying:

"That's right, the things we can't achieve may be just trivial things in your eyes. Last year, in order to compete with eBay, Amazon allowed third-party retailers and sellers to use its e-commerce platform. Users are in a stage of rapid growth. If Being able to carry out in-depth cooperation with Amazon and eBay, and promote it through emoji and Google, I am sure that within a year, the number of Paypal users will double."

"...I am looking forward to it. Paypal will develop according to the current plan. If you need it, you can contact John Zhou directly. He will arrange for you to carry out an all-round promotion in the near future. Remember to prepare in advance."

Su Yehao had so many celebrities under his command that he couldn't arouse much interest in seeing old acquaintances from his previous life.

Leaving other things to John Zhou, he took Jiang Yu to meet with Goldman Sachs. It is said that there is a mysterious shareholder who is willing to talk about selling Apple shares, but temporarily hides his identity. premium requirements.

The mere 5% premium also seems to show that the other party has no confidence and is not very optimistic about the short-term trend of Apple's stock price...

Chapter 787 Kingdom Holdings

The meeting place is arranged in San Francisco, which is very close from Silicon Valley.

Su Yehao personally drove a limited-edition Mercedes-Benz supercar, and within an hour's drive, he arrived in the center of San Francisco.

When Jiang Yu got out of the car, he put his hands on his waist and said in a painful tone:

"In the future, if the journey takes more than half an hour, even if I am beaten to death, I don't want to take a sports car anymore. It can't compare with my 911. I suspect that these designers didn't consider the issue of comfort at all when they built the car."

"Don't doubt, they really didn't think about it. I heard that there are highways with no speed limit in Germany. This kind of car is only suitable for running on that kind of road. But the speed is too fast. Once an accident occurs, it is almost fatal. Driving, I guess I won’t have a chance to experience it, unless someone is willing to block the road for me, it’s better to go to a professional racing track to have fun.”

Su Yehao casually threw the car keys to the bodyguard, fastened the buttons of his suit, and walked towards the building where Goldman Sachs' San Francisco branch was located.

The address of the building is 555 California Street, which is relatively close to St. Mary's Square. A few intersections is the bustling commercial Union Square. Before coming here, he promised Jiang Yu that he would go shopping with her after talking about business matters.

In fact, shopping malls all over the world are similar. He really doesn't know what to shop for, and it's hard to experience the fun of shopping again.

Shopping is boring, but buying high-quality stocks like Apple is quite exciting for him.

Even if this life is affected, due to the butterfly effect affecting the development of Apple, Apple's talent base, R&D management strength, ready-made operating system, etc. are still there. As long as he becomes a shareholder and guides him properly, Su Yehao is not worried about his future. This investment will fail.

Jiang Yu took his arm and went upstairs, during which time he asked in a low voice: "The seller is very secretive, so you probably won't meet a liar, why do they want to keep it secret and not tell you their identity?"

"Every move of a major shareholder is too involved, which is likely to cause violent fluctuations in the secondary market. Investment banks like Goldman Sachs, as middlemen, can ensure that many unnecessary risks are reduced before the deal is actually concluded. If I don't want to disclose my identity, as As a buyer, I will also keep it a secret from the seller, it’s no big deal. It is estimated that the seller really wants to sell, and I am really willing to buy, so I arranged today’s meeting as soon as possible, and if the price is right, I will not delay.”

Su Yehao felt that Apple's stock price could go down even further.

However, Goldman Sachs also said this time that the potential seller is one of Apple's top ten shareholders, which represents an opportunity to win a large number of shares at one time.

When the stock price falls a little further, maybe the seller will change his mind and choose to hold low-priced stocks with less risk in his hands and wait for the appreciation.

The same is true for the acquisition of Netflix and Paypal. If the market is basically determined to fall to the bottom, they may not be willing to sell at a low price. Being at the bottom means that the market is more likely to rebound. Every time the stock price falls, it is equal to the release of risk. In the process, it is easy to gain enough chips.

It is not an easy task to acquire enough shares in an established listed company, so there is no need to worry too much about whether it has fallen to a low level. When you make a move, you should choose to make a move decisively, even if you know that there is a high probability that it will fall in the short term, it doesn't matter.

After Jiang Yu listened, he reminded: "There are other factors. As a middleman, Goldman Sachs must ensure its own interests. If both the buyer and the seller know each other's identities and can bypass Goldman Sachs to make a deal, how can they earn commissions? "

Su Yehao didn't know whether to laugh or cry, reached out his hand and nodded her head, and explained: "You are a fool for Goldman Sachs? You signed a contract with me a long time ago. Well, these investment banks are smarter than anyone else. There are countless old foxes in their legal team. How could that be?" Leave room for people to take advantage of loopholes.”

"Right……"

He was politely led into the living room by a senior partner of Goldman Sachs.

When he saw the two Middle Easterners with white cloths on their heads, Su Yehao was stunned for a moment, and immediately thought of the largest shareholder of Apple's top ten shareholders, who was related to the white-robed local tycoon - Saudi Kingdom Holdings.

Those who dig oil are indeed rich, and if they can raise money to make money again, it will be even more powerful.

Now the chairman of the Kingdom of Saudi Arabia Holdings, relying on his wealth and wealth in the past few years, has made his business flourish and has invested in Citibank, Four Seasons Hotel, Motorola, Amazon, eBay, etc. one after another.

Su Yehao's ranking on the rich list has risen, suppressing several descendants of the Walton family, the founder of Wal-Mart, but still ranked below the prince of the Kingdom Holding Company with a gap of more than one billion US dollars.

before coming over.

He has asked people to investigate the news about Apple’s top ten shareholders. Kingdom Holdings holds 10.2% of Apple’s shares, of which 5% was purchased in 1997 at a cost of more than 1000 million U.S. dollars. In [-] and [-], Respectively increased part of the holdings, is currently the second largest shareholder of Apple.

It was listed as early as 1980, and its performance was not good during this period. Not many people wanted to seize its control, so that today, more than 20 years later, the shareholding is relatively scattered.

According to the current market value, Kingdom Holdings can still make a small profit. Roughly, it can still have a 70% rate of return, which is incomparable with last year's high point. It is estimated that it is thinking about cutting the meat and stopping the loss before planning to sell. drop the stake.

Apple is not bad. According to the data, the company misjudged the situation. Since May and June last year, it has started to buy bottoms to finance Amazon, and Priceline, an online travel B2C company, etc., and the decline is astonishing.

The importance of making preparations in advance was highlighted. When Su Yehao saw the two white-robed local tyrants, he immediately knew it.

Just as Su Yehao guessed.

A senior partner at Goldman Sachs, at the moment, said:

"They come from Kingdom Holdings. The company is located near Union Square not far away, and is responsible for the investment projects of high-tech enterprises under the group. This Mr. Omar helped the company with a price of more than 1997 million US dollars in 4000. Buying stock in Netscape, AOL bought it a year later, making over $1 million, and I was responsible for helping them close the deal."

Only introduce the people of Kingdom Holdings, as for Su Yehao's identity, there is no need to introduce it.

Even if he became the sixth richest man in the world, when Su Yehao saw people in white robes, he would subconsciously think that they were rich.

The subconscious is so deeply ingrained that it is difficult to completely reverse it.

After shaking hands and sitting down, Mr. Omar told in fluent English: "I believe that Jim has conveyed our request to you. We only need a 5% premium, and we can sell all the Apple stocks we hold to you."

Su Yehao nodded and replied:

"I'm a snappy guy and have plenty of cash."

"Before I came here today, I saw that Apple's stock price fell by about 1.3% compared with yesterday. I don't know what the situation is at the moment. Apart from me, it is estimated that it will be difficult to find anyone who is willing to buy it all. It is better to follow yesterday's Let’s make a deal at the closing price, and I will bear your losses today, which is equivalent to giving a certain premium.”

"I can sign with you at any time, the funds are in my bank account..."

Before Omar came over, he communicated with the board of directors.

The bottom line is actually calculated based on today's closing price, and he found that he could make a little profit. He talked to his companion in Arabic and asked what Apple's stock price is at the moment.

Knowing that the decline has expanded to 1.67%, he simply did not hesitate, and immediately agreed to trade according to yesterday's closing price, and asked Goldman Sachs to help draw up an agreement.

There is a ready-made contract template, from the meeting to the signing, only one hour between, and this deal worth more than 4 million US dollars was negotiated quickly...

Chapter 788 Other Forms of Cooperation

From March last year to the present, many assets in the Internet industry have changed hands many times.

The list of major shareholders of many listed companies has undergone major changes.

For example, the second largest shareholder of Kaomoji Group has been replaced by Merrill Lynch from Citibank, and then taken over by BlackRock Group, accounting for a total of 3.7% of the total share capital of Kaomoji Group.

Considering that Su Yehao went directly to the IPO without any financing, the Yanmoji stocks released for circulation only accounted for about a quarter of the total share capital.

BlackRock Group, also known as the Black Rock Group, has become the second largest shareholder with a 3.7% shareholding, which is relatively rare among newly listed Internet companies in recent years.

Once divided among several institutions, the scattered tradable shares only account for about one-tenth of the total share capital of Yanmoji Group. This is one of the reasons for maintaining the high stock price. It lacks liquidity in the market and it is easy to maintain a stable situation.

Market trends are not static.

The Saudi Kingdom Holding Group has been able to hold so many Apple stocks until now, mainly because of its wealth and wealth, it does not need to be responsible to other investors, and it does not care about short-term fluctuations.

It's a pity that Apple's market value has evaporated from the high point of last year to the present by more than 100 billion US dollars, and there is still no sign of bottoming out. Moreover, Apple's computer business has not improved over the years, and there is not much hope of rising in the future. This is the root cause of their decision to liquidate and cash out.

Now that Apple is cashing out, you can still use the money to buy other high-quality assets. Mr. Omar, who is in his 40s, put a white cloth on his head and asked after signing the contract:

"Su, when will your Google company start the B round of financing? If I remember correctly, it has been more than a year since the A round of financing, and the funds are about to run out, right? As long as you agree, we are willing to start from the funds of this transaction Here, give $[-] million to Google."

When Su Yehao heard this, he thought what a good guy.

It is equivalent to directly replacing part of Apple's shares held by Kingdom Holdings with Google's shares. The current values ​​​​of the two companies are basically the same.

If it wasn't for Su Yehao's foresight, knowing that the era of mobile terminal equipment is coming, from a business point of view, he would definitely think that Google, which is growing at a high speed, obviously has higher investment potential, but he knows that the two are actually similar .

After all the calculations, it turned out that the more than 4 million US dollars of funds that were about to be transferred to Kingdom Holdings itself had the least investment value.

and so.

He had just exchanged "no investment value" cash for high-quality Apple stock, and if he immediately exchanged the money with Google shares, it would undoubtedly not be in Su Yehao's interest.

In the past year, Google has increased revenue and reduced expenditure, and there are still more than 6000 million US dollars lying in its account. Even if it accelerates its development in the near future, as long as it does not acquire or raise money-burning projects, it will be enough to support it until the end of this year or the beginning of next year.

After all, Google's advertising business is doing quite well, not all of which are developed purely with its own funds, and part of the profits can also temporarily support it.

When it is really unbearable, the scale of Google is probably not the current scale, and the valuation of Google is probably not the current market value.

Most of the valuations given to it by evaluation agencies are in the range of US$50 billion to US$60 billion. As Yahoo’s market share continues to decline, it has successfully achieved Google’s growth against the trend. As an unlisted start-up company, it is affected by the Internet bubble. The impact is relatively small.

After another year or so of development, Su Yehao is sure to increase its valuation to between US$90 billion and US$110 billion. It is in his best interest to choose financing at that time. Supporting Google's listing, it is no longer necessary to transfer super high-quality stocks with long-term holding potential at low prices.

Seeing him distracted, Mr. Omar subconsciously thought that Su Yehao was seriously considering his proposal, and continued to add:

"Four hundred million dollars is fine. Yahoo is stepping down from the altar. I think Google has great investment potential. I have friends in sovereign funds in Qatar, Kuwait, and Abu Dhabi. Once we get our support, I think Google will reduce many of the barriers to growth, especially funding..."

I heard this sentence by accident.

The senior partner of Goldman Sachs Group named Jim next to him suddenly felt that he had seized the opportunity of development by accident.

The senior partner of Goldman Sachs sounds tall and powerful. In fact, this company is notorious for recognizing money but not people. Whoever has resources will be in the top position. After squeezing out all the network resources, he will be kicked out.

However, as long as you have been a senior partner for a few years, you can basically earn as much as seven figures, and eight figures is not impossible. Therefore, people at Goldman Sachs still enjoy it, even if they know they are being used by the company, or Try to make more money with the help of Goldman Sachs' platform.

In Jim's eyes, as long as Su Yehao and Omar reach a cooperation, it is almost certain that they will be able to raise more than one billion US dollars. This fund will pose a serious threat to the industry giant Yahoo, and the market value of Google will probably rise sharply by then.

This is tantamount to a pie in the sky, and Jim made a decision on the spot to participate in the financing and get more Google shares.

The free model of Internet companies means that if you want to achieve success, you have to burn crazy money in exchange for market share, technology, talents, and customers.With the support of a group of sovereign funds from oil-producing countries, Google's chances of success will be greatly increased, and the valuation can be increased by at least [-] billion US dollars. It is foolish not to follow suit.

Of course Su Yehao didn't know that Jim was starting to have sweet dreams, so he smiled indifferently and replied:

"Thank you for your support for Google, but it is not short of funds for the time being. Maybe we should reach some other forms of cooperation, such as jointly establishing an asset management company that specializes in investing in the high-tech industry. I don't know about Nasdaq When will the index fall to the bottom, but there are many opportunities in the crisis, and I need someone to cooperate with me to win the asset management market in the Middle East."

Mr. Omar himself is helping the company with asset management work, and investing in an asset management company...isn't it considered an investment?

In the past, Su Yehao was just making small noises. Even if he created the Yanwen Group, it still didn't attract much attention.

The one who really became famous in the first battle was shorting the Nasdaq index against the market last year, and even took the listed company Yanwen Group to short it together, which was tantamount to making technology stocks bearish on the prospects of the technology industry. Countless people have really achieved great success.

In addition, in a very short period of time, he established the largest asset management group in the mainland on the other side of the Pacific Ocean. The news had already spread to the United States. After these things, Su Yehao successfully gained a firm foothold in the investment community and became well-known.

Omar previously only wanted to cash out Apple stock and use the money to buy some high-quality assets, but he had no mature ideas yet about where to invest.

Su Yehao's proposal moved him quite a bit. With Kingdom Holding's influence in Saudi Arabia, it might be possible to create a good-scale asset management company.

If you want to ask what kind of business is low-cost, low-risk, but can obtain high returns, the asset management industry that uses other people's money to invest seems to occupy a place...

Chapter 789

Omar from Kingdom Holding Company was very interested in Su Yehao's proposal.

However, as a company executive, Mr. Omar actually does not have much say, and he can only make a decision after discussing with their chairman.

It was impossible for Su Yehao to wait foolishly in San Francisco. He handed over the matter to Lin Youfeng, vice president of KOKO Venture Capital, to follow up. He returned to Silicon Valley to stay for one more day, and then flew back to Hong Kong City.

According to his ideas.

Even if an asset management company is really established in the Middle East, it will only operate independently of 5S asset management, just like Japan, and has almost nothing to do with 5S asset management companies.

A start-up capital of tens of millions of dollars in the early stage is almost enough, and the rest depends on its own development in the future.

There are countless talents in financial management. It is very easy to build a platform.

There are more investment opportunities around the world, and Su Yehao happens to cash out the projects he doesn't like through asset management companies, so as not to waste his own advantages in vain.

The mainland has strict control over the financial aspect, and the Japanese business, which is temporarily in charge of Kaneshiro Kento, launched a fund targeting overseas markets at the beginning, and also formulated a set of profit sharing agreements.

It is stipulated that closed-end private equity funds will not charge management fees if the annualized rate of return is less than 6%, and the excess will be shared between investors and asset management companies on a six-to-four basis.

It means that if a client invests 15 U.S. dollars, and within a closed year, the principal and interest become [-] U.S. dollars, Su Yehao's asset management company will withdraw [-] U.S. dollars according to the agreement.

Ordinary private equity funds, regardless of profit or loss, charge a fixed annual management fee of 1.5% to 2.5% from the principal and income.

It seems that the fixed management fee is more cost-effective, but users are more inclined to choose profit-sharing products. After all, only when they earn enough profits, will they take part of the profits, otherwise it is almost equal to zero management fees.

This not only prevents the client from wasting money, but also demonstrates the strong confidence of the asset manager. If the strength is not enough, even if it helps the client earn 6% of the profit in the end, it will mean nothing to return, and help investors to work in vain.

After Su Yehao's people built a good platform, Jincheng Xianren helped to bring in funds equivalent to more than 20 billion Hong Kong dollars through the network resources and the resources of Japan's First Quanye Bank. He just switched from the First Quanye Bank two weeks ago and changed his life Became the president of "SU Asset Management Co., Ltd."

The wave of interest rate hikes in the United States has ended, and the view that the global economy will fall into recession is in line with the current mainstream.

Out of risk avoidance, Su Yehao only asked the sages of Jincheng to bring this part of the funds to Hong Kong City and New York temporarily.

Buy stocks of established real estate companies such as Wharf, New Hongji, Hang Lung Properties, and Donghuang Group in Hong Kong City.

By the way, I also used some funds to continue to be bearish on the Nasdaq index. This is like catching a sheep and pulling the sheep to death. After all, even if it falls by half, there is still a bubble in the Internet industry.

The general environment is not good.