On April 18, 2022, at a business gathering in Hong Kong, a man in his early forties immediately caused a sensation.
This man was wearing a well-made black suit, a blue tie, and his hair was meticulously combed.
When the person who was originally talking to saw him, he immediately stopped to say hello to him and invited him to join the conversation intimately.
Some people who didn't know the truth were stunned by this scene and turned around to inquire about the man's news from the people around him.
"He is called China's number one landlord. He has 15,645 houses under his name. He can earn 30 billion by collecting rent a year." a person mysteriously told his companions.
"The rent is so high every year, I can't spend it all in my life, and I don't have to work hard anymore." The person who was just asking questions expressed his envy.
"He doesn't have the idea of you. People want to have several companies in their hands to manage, but these companies are taken from his grandfather, and his real estate is no exception."
Who is the person with 15,645 properties? Who is his grandfather who can leave such a large amount of property to his grandson?
The history of grandfather’s fortune
This person who caused a sensation at commercial gatherings was named Wu Zongquan, and he is often called "China’s No. 1 landlord".
And most of the enviable real estate and company in Wu Zongquan's hands came from his grandfather Bao Yugang's many years of hard work.
Bao Yugang is from Ningbo City, Zhejiang Province. He was born on November 10, 1918.
It is said that Bao Yugang is also the 29th generation of direct descendants of the Northern Song Dynasty Bao Zheng , and his family has a deep roots.
However, because the two are too old, future generations cannot verify it, so there is no way to know the authenticity of this rumor.
Bao Yugang's father is a small businessman in Ningbo , named Bao Zhaolong , and often does business in Hankou .
Although Bao Zhaolong's business is very busy and he still needs to go out frequently, he pays great attention to the education issues of his children.
His business is not large and he doesn't make much money, but he is willing to spend a lot of money to send his children to the best local schools to study.
and Ningbo is close to the beach. In addition to studying, Bao Yugang will run to the beach whenever he has time.
The sea is so vast, and merchant ships traveling from afar can always bring a large amount of income to the family.
The sea and merchant ships left a very deep impression on the young Bao Yugang. Perhaps from that time on, he had formed an indissoluble bond with the ship.
At the age of 13, Pao Yugang completed his studies in the school with excellent grades.
Bao Zhaolong saw that his son was a good material and felt that he should be trained well, so he sent him to Shanghai to study. After
, with the support of his father, Bao Yugang studied at Shanghai Wusong Merchant Shipping College, which is also the predecessor of today's Shanghai Maritime University and Dalian Maritime University .
In this school, Bao Yugang learned a lot about ships, which also laid a solid theoretical foundation for his later career.
Later, Anti-Japanese War broke out, and Shanghai has become a place of right and wrong, and may be attacked by artillery fire at any time.
So, Bao Yugang came to Chongqing and temporarily settled in this mountain city.
has experienced so much turmoil that he has no intention of studying, so he did not go to college to study as required by his father, but started working to make money.
Bao Yugang is eloquent and looks good. With his father's connections, he became a small employee of a bank.
Although his education is not very high, Bao Yugang is still doing well in this bank.
In just seven years, he went from an ordinary small employee to a deputy general manager of the bank, and returned to the prosperous land of Shanghai.
year is only 27 years old. He is already the deputy general manager of Shanghai Bank. He has great power. Everyone praises him for his youth and promising, and says that he will definitely be converted to deputy general in a few years.
But just when everyone was looking forward to it, Bao Yugang suddenly became "rebellious".
This year he quit his job in the bank, and followed his father to do business everywhere, and began to accumulate experience in doing business.
1949, due to the chaotic domestic situation in , Bao Zhaolong and Bao Yugang, and his son moved to Hong Kong with all their savings. suddenly came to a strange environment, and the domestic business foundation and connections were gone, so they could only start over.
Bao Zhaolong, with the idea of starting a new business, plans to start from a small business and gradually expand the scale of the business.
However, Bao Yugang doesn't want to do just these small businesses, he wants to make another world in the land of Hong Kong.
After careful investigation of the market, Bao Yugang decided to do a shipping business , but this idea was strongly opposed by Bao Zhaolong and his wife as soon as it was proposed.
Bao Yugang's mother believes that the risk of shipping is too great, and the luck component of relying on the weather accounts for the majority. If you are not careful, you will risk bankruptcy.
and Bao Yugang's father believes that Hong Kong's maritime transportation industry is already very developed, and it is like a difficult time for them to get a share of the pie.
More importantly, the family does not have much savings, only a few hundred thousand yuan, and they can’t afford a boat at all.
Although Bao Yugang knew his parents’ worries very well, he was determined and plunged into the shipping business.
While he persuaded and enlightened his parents, he inquired deeply about the current situation of Hong Kong's shipping industry. He quickly solved the problem of insufficient funds in
. Bao Yugang ran around and finally raised 700,000 US dollars with the help of his friends.
He was very attentive to this career and went to the UK to buy a ship, and solemnly named it "Jin'an".
At that time, the shipping companies were short-term rental ships, and the fees would be settled every once in a while, and then the next stage of the contract was signed.
each time rents it very short, which can ensure that the shipping company can quickly collect funds and will not be at risk of being denied.
However, this short-term rental method is a huge burden for the company that rents a boat.
short-term rental costs are extremely high, and the process of signing a contract is very complicated, which will delay many other things.
Bao Yugang discovered this drawback and immediately decided to break the "unspoken rules" of this industry.
He announced that ships under the name of can be rented for a long time, and the fee settlement period can also be extended. As soon as the news came out, many companies or merchants who only need ships came to the door, and Bao Yugang also made a lot of money.
He quickly seized the market with his extraordinary courage and this novel boat rental model.
In 1981, the number of ships under Bao Yugang's name had expanded from the originally lonely one to 210, becoming the world's most popular Chinese world ship king .
After the wealth accumulated to a certain level, Bao Yugang seized the opportunity and purchased a lot of real estate, which was also the main source of Wu Zongquan's real estate later.
So, why did most of the real estate under Bao Yugang's name end up in the hands of his grandson Wu Zongquan? Didn’t he have a more suitable heir?
The father continued to contribute to the tiles
Bao Yugang and his wife had a total of 4 daughters, but they never had a son.
As we grow older, Bao Yugang gradually gave up on giving birth to a son and instead raised his daughter and son-in-law.
Bao Yugang's idea is more traditional, believing that his daughter should take care of her husband and children at home and should not show up in the business world.
So, he regarded his four sons-in-law as heirs to his business and cultivated them with all his heart.
So, his four daughters just took the position of "director" in the company, but the company's management and decision-making power were gradually delegated to several son-in-law.
Bao Yugang's second daughter is named Bao Pairong, and his second son-in-law is named Wu Guangzheng . They are Wu Zongquan's parents.
Wu Guangzheng was born in Shanghai on September 5, 1946, and later followed his parents to Hong Kong to develop.
1973, Wu Guangzheng married Bao Pairong and began working in the company under his father-in-law. Wu Guangzheng's ancestral home is also in Ningbo, Zhejiang, so he has more common language with Bao Yugang, and Bao Yugang also attaches great importance to him.
Wu Guangzheng graduated from Columbia University Business School . He is also very business-minded and has not disappointed his father-in-law Bao Yugang's expectations at all.
htmlIn Hong Kong in the 170s, Chinese businessmen were still relatively weak and had not much assets in Hong Kong.UK capital Jardine Mahjong Group controls Hong Kong's Hutchison Whampoa Company with only 5% of the shares.
Waterland was originally the largest freight port in Hong Kong, and later a company was established on this basis.
But as time goes by, Chinese businessmen are becoming more and more powerful. They are dissatisfied with the fact that Hutchison Whampoa has always been in control of the British, so they began to acquire them.
1978, Bao Yugang spent all his efforts to acquire 20% of the shares of Hutchison Whampoa, and had a certain voice in this company. However, Jardines Group is not willing to be threatened with the right to speak in Hutchison Whampoa, so it also made an acquisition, with the number of shares being the same as that of Bao Yugang.
Later, Li Ka-shing also joined this "melee" and took the opportunity to acquire a large number of shares at a low price.
However, Li Ka-shing's assets at that time could not fully acquire Hutchison Whampoa. With the intervention of multiple forces, Li Ka-shing decided to give up the acquisition and transfer the shares to others.
Finally, after careful consideration, transferred the shares to Bao Yugang and received a return of nearly 60 million yuan.
Water Whampoa also became a company under Bao Yugang's name in this incident, completely acquired by Chinese businessmen.
In this war where smokelessness was invisible, Bao Yugang was able to successfully win the Hutchison Whampoa, and the second son-in-law Wu Guang played an important role in it.
Wu Guang received a loan of 2 billion at HSBC Bank in Hong Kong, ensuring that Bao Yugang will not have any gaps in funds in this acquisition war.
Moreover, during the tug-of-war period with the British capital Jardines Group, Wu Guangzheng also made many suggestions and provided many reference methods for Bao Yugang.
Later, Wu Guangzheng participated in the acquisition plan of Huidefeng , and successfully turned this plan into reality. The successful implementation of the two major decisions of
not only brought huge benefits to the company, but also made his abilities recognized and affirmed by Bao Yugang.
985, Pao Yugang suffered from cancer. He was sick and could not handle a lot of shopping mall affairs as before. So, Bao Yugang gradually delegated his power and 500 billion yuan of family business to several sons-in-law.
His eldest daughter and son-in-law inherited the shipping business, and Wu Guangzheng and his family took over the two industries that he had made a lot of efforts.
Bao Yugang's third daughter and his family obtained a trade industry, while the youngest daughter and son-in-law directly shared tens of billions of cash and equity .
He carried out drastic reforms on the original basis, demolished the already gradually outdated Hutchison Wharf, and built it into a commercial center.
Later, land prices in Hong Kong continued to soar, and this commercial center also appreciated rapidly. Now the company's total assets have reached 270 billion yuan.
The huge profits brought by real estate have made Wu Guangzheng taste huge sweetness, and he has also spent a lot of money to buy real estate many times.
In 2022, Wu Guangzheng and his wife ranked 100th in the "2022 Forbes Global Billionaire List", with a net worth of US$17 billion, and real estate accounts for a large part of the couple's assets.
The landlord who inherited the family business
Wu Zongquan is the second child of Wu Guangzheng and Bao Pairong and the only son.
He was born in 1978 and graduated from Princeton University in the United States.
However, after returning from , he did not become an architectural designer because his huge property was still waiting for him to take over.
In 2005, Wu Zongquan, who was only 27 years old, joined Huidefeng Real Estate Company and began to come into contact with family business.
The architecture major he studied is also closely related to the company's business. With the business talent inherited from his ancestors, he quickly gained a firm foothold in the company.
In 2013, his father Wu Guangzheng, who was only 67 years old, announced his retirement and his son Wu Zongquan took over the company's affairs in full.
Wu Guangzheng is not yet in his seventies, and this is considered to be a relatively early retirement among his peers.
At that time, Wu Zongquan was only 35 years old and was still a "young" in the business world. It can be seen that Wu Guangzheng trusts his son's abilities.
According to Hong Kong media reports, Wu Guangzheng left his son with a total of up to 300 billion yuan in assets, with 15,645 real estate units alone, and the annual rent is as high as more than 30 billion yuan.
After taking the baton handed over by his father, Wu Zongquan did not slacken at all and worked tremblingly every day.
He has also carried out a series of reforms in the company based on the development of the times and has made some achievements.
But compared with the glory of his grandfather and father, Wu Zongquan's business time was too short after all, and his achievements were not as dazzling as his parents. This also made him laugh and said that there are still many things he is not satisfied with and he is under great pressure.
However, according to Wu Zongquan's assistant, Wu Zongquan will enter the film and television industry in the second half of 2022, opening up another world for the company.
He feels that China's real estate industry has entered a bottleneck period, and it is difficult to achieve development at this time.
However, there are still many opportunities in the film and television industry, and Wu Zongquan himself is quite interested in this area, so he will try to get involved in this field.
Wu Zongquan made a lot of preparations for this attempt, conducted many market research, and learned from his predecessors.
It can be seen that Wu Zongquan is a very ambitious person and is not satisfied with the status quo. I hope his attempt can gain something.
-end-
text | Don’t miss Xiaoxingxing
edit丨Shushu
year is only 27 years old. He is already the deputy general manager of Shanghai Bank. He has great power. Everyone praises him for his youth and promising, and says that he will definitely be converted to deputy general in a few years.
But just when everyone was looking forward to it, Bao Yugang suddenly became "rebellious".
This year he quit his job in the bank, and followed his father to do business everywhere, and began to accumulate experience in doing business.
1949, due to the chaotic domestic situation in , Bao Zhaolong and Bao Yugang, and his son moved to Hong Kong with all their savings. suddenly came to a strange environment, and the domestic business foundation and connections were gone, so they could only start over.
Bao Zhaolong, with the idea of starting a new business, plans to start from a small business and gradually expand the scale of the business.
However, Bao Yugang doesn't want to do just these small businesses, he wants to make another world in the land of Hong Kong.
After careful investigation of the market, Bao Yugang decided to do a shipping business , but this idea was strongly opposed by Bao Zhaolong and his wife as soon as it was proposed.
Bao Yugang's mother believes that the risk of shipping is too great, and the luck component of relying on the weather accounts for the majority. If you are not careful, you will risk bankruptcy.
and Bao Yugang's father believes that Hong Kong's maritime transportation industry is already very developed, and it is like a difficult time for them to get a share of the pie.
More importantly, the family does not have much savings, only a few hundred thousand yuan, and they can’t afford a boat at all.
Although Bao Yugang knew his parents’ worries very well, he was determined and plunged into the shipping business.
While he persuaded and enlightened his parents, he inquired deeply about the current situation of Hong Kong's shipping industry. He quickly solved the problem of insufficient funds in
. Bao Yugang ran around and finally raised 700,000 US dollars with the help of his friends.
He was very attentive to this career and went to the UK to buy a ship, and solemnly named it "Jin'an".
At that time, the shipping companies were short-term rental ships, and the fees would be settled every once in a while, and then the next stage of the contract was signed.
each time rents it very short, which can ensure that the shipping company can quickly collect funds and will not be at risk of being denied.
However, this short-term rental method is a huge burden for the company that rents a boat.
short-term rental costs are extremely high, and the process of signing a contract is very complicated, which will delay many other things.
Bao Yugang discovered this drawback and immediately decided to break the "unspoken rules" of this industry.
He announced that ships under the name of can be rented for a long time, and the fee settlement period can also be extended. As soon as the news came out, many companies or merchants who only need ships came to the door, and Bao Yugang also made a lot of money.
He quickly seized the market with his extraordinary courage and this novel boat rental model.
In 1981, the number of ships under Bao Yugang's name had expanded from the originally lonely one to 210, becoming the world's most popular Chinese world ship king .
After the wealth accumulated to a certain level, Bao Yugang seized the opportunity and purchased a lot of real estate, which was also the main source of Wu Zongquan's real estate later.
So, why did most of the real estate under Bao Yugang's name end up in the hands of his grandson Wu Zongquan? Didn’t he have a more suitable heir?
The father continued to contribute to the tiles
Bao Yugang and his wife had a total of 4 daughters, but they never had a son.
As we grow older, Bao Yugang gradually gave up on giving birth to a son and instead raised his daughter and son-in-law.
Bao Yugang's idea is more traditional, believing that his daughter should take care of her husband and children at home and should not show up in the business world.
So, he regarded his four sons-in-law as heirs to his business and cultivated them with all his heart.
So, his four daughters just took the position of "director" in the company, but the company's management and decision-making power were gradually delegated to several son-in-law.
Bao Yugang's second daughter is named Bao Pairong, and his second son-in-law is named Wu Guangzheng . They are Wu Zongquan's parents.
Wu Guangzheng was born in Shanghai on September 5, 1946, and later followed his parents to Hong Kong to develop.
1973, Wu Guangzheng married Bao Pairong and began working in the company under his father-in-law. Wu Guangzheng's ancestral home is also in Ningbo, Zhejiang, so he has more common language with Bao Yugang, and Bao Yugang also attaches great importance to him.
Wu Guangzheng graduated from Columbia University Business School . He is also very business-minded and has not disappointed his father-in-law Bao Yugang's expectations at all.
htmlIn Hong Kong in the 170s, Chinese businessmen were still relatively weak and had not much assets in Hong Kong.UK capital Jardine Mahjong Group controls Hong Kong's Hutchison Whampoa Company with only 5% of the shares.
Waterland was originally the largest freight port in Hong Kong, and later a company was established on this basis.
But as time goes by, Chinese businessmen are becoming more and more powerful. They are dissatisfied with the fact that Hutchison Whampoa has always been in control of the British, so they began to acquire them.
1978, Bao Yugang spent all his efforts to acquire 20% of the shares of Hutchison Whampoa, and had a certain voice in this company. However, Jardines Group is not willing to be threatened with the right to speak in Hutchison Whampoa, so it also made an acquisition, with the number of shares being the same as that of Bao Yugang.
Later, Li Ka-shing also joined this "melee" and took the opportunity to acquire a large number of shares at a low price.
However, Li Ka-shing's assets at that time could not fully acquire Hutchison Whampoa. With the intervention of multiple forces, Li Ka-shing decided to give up the acquisition and transfer the shares to others.
Finally, after careful consideration, transferred the shares to Bao Yugang and received a return of nearly 60 million yuan.
Water Whampoa also became a company under Bao Yugang's name in this incident, completely acquired by Chinese businessmen.
In this war where smokelessness was invisible, Bao Yugang was able to successfully win the Hutchison Whampoa, and the second son-in-law Wu Guang played an important role in it.
Wu Guang received a loan of 2 billion at HSBC Bank in Hong Kong, ensuring that Bao Yugang will not have any gaps in funds in this acquisition war.
Moreover, during the tug-of-war period with the British capital Jardines Group, Wu Guangzheng also made many suggestions and provided many reference methods for Bao Yugang.
Later, Wu Guangzheng participated in the acquisition plan of Huidefeng , and successfully turned this plan into reality. The successful implementation of the two major decisions of
not only brought huge benefits to the company, but also made his abilities recognized and affirmed by Bao Yugang.
985, Pao Yugang suffered from cancer. He was sick and could not handle a lot of shopping mall affairs as before. So, Bao Yugang gradually delegated his power and 500 billion yuan of family business to several sons-in-law.
His eldest daughter and son-in-law inherited the shipping business, and Wu Guangzheng and his family took over the two industries that he had made a lot of efforts.
Bao Yugang's third daughter and his family obtained a trade industry, while the youngest daughter and son-in-law directly shared tens of billions of cash and equity .
He carried out drastic reforms on the original basis, demolished the already gradually outdated Hutchison Wharf, and built it into a commercial center.
Later, land prices in Hong Kong continued to soar, and this commercial center also appreciated rapidly. Now the company's total assets have reached 270 billion yuan.
The huge profits brought by real estate have made Wu Guangzheng taste huge sweetness, and he has also spent a lot of money to buy real estate many times.
In 2022, Wu Guangzheng and his wife ranked 100th in the "2022 Forbes Global Billionaire List", with a net worth of US$17 billion, and real estate accounts for a large part of the couple's assets.
The landlord who inherited the family business
Wu Zongquan is the second child of Wu Guangzheng and Bao Pairong and the only son.
He was born in 1978 and graduated from Princeton University in the United States.
However, after returning from , he did not become an architectural designer because his huge property was still waiting for him to take over.
In 2005, Wu Zongquan, who was only 27 years old, joined Huidefeng Real Estate Company and began to come into contact with family business.
The architecture major he studied is also closely related to the company's business. With the business talent inherited from his ancestors, he quickly gained a firm foothold in the company.
In 2013, his father Wu Guangzheng, who was only 67 years old, announced his retirement and his son Wu Zongquan took over the company's affairs in full.
Wu Guangzheng is not yet in his seventies, and this is considered to be a relatively early retirement among his peers.
At that time, Wu Zongquan was only 35 years old and was still a "young" in the business world. It can be seen that Wu Guangzheng trusts his son's abilities.
According to Hong Kong media reports, Wu Guangzheng left his son with a total of up to 300 billion yuan in assets, with 15,645 real estate units alone, and the annual rent is as high as more than 30 billion yuan.
After taking the baton handed over by his father, Wu Zongquan did not slacken at all and worked tremblingly every day.
He has also carried out a series of reforms in the company based on the development of the times and has made some achievements.
But compared with the glory of his grandfather and father, Wu Zongquan's business time was too short after all, and his achievements were not as dazzling as his parents. This also made him laugh and said that there are still many things he is not satisfied with and he is under great pressure.
However, according to Wu Zongquan's assistant, Wu Zongquan will enter the film and television industry in the second half of 2022, opening up another world for the company.
He feels that China's real estate industry has entered a bottleneck period, and it is difficult to achieve development at this time.
However, there are still many opportunities in the film and television industry, and Wu Zongquan himself is quite interested in this area, so he will try to get involved in this field.
Wu Zongquan made a lot of preparations for this attempt, conducted many market research, and learned from his predecessors.
It can be seen that Wu Zongquan is a very ambitious person and is not satisfied with the status quo. I hope his attempt can gain something.
-end-
text | Don’t miss Xiaoxingxing
edit丨Shushu
