Having inherited the billion-dollar fortune of his father who was known as the “iron king of Son Tay province”, however Ly Trieu Hoi soon “fall off the horse” to fall into a prison, run away without a trace just because of his debauched lifestyle.
On November 6, 2018, the People’s Court of Taiyuan City, Shanxi Province (China) announced a list of 200 prisoners who were executed for the crime of “failing faith”, including Li Zhaohui for hugging. a huge debt of 216 million yuan (about 740 billion dong) and was also fined more than 50 million yuan (about 160 billion dong), and was also banned from leaving the country.
Being wanted nationwide, now no one knows where Young Master Ly Trieu Hoi is hiding.
The 22-year-old President’s unexpected career rose
Ly Trieu Hoi (born 1981) is the son of businessman Ly Hai Thuong, founder of Shanxi Haixin Iron and Steel Group Co., Ltd.
He is praised by the world as a “legend among Chinese businessmen” with the title of “iron king”. From two empty hands, the 20-year-old man raised a large amount of capital and built a coal factory. Wenxi County, where the Haixin Iron and Steel Factory is located, has been successfully lifted out of poverty thanks to Haixin’s hundreds of millions of yuan in tax payments, while feeding two-thirds of the county’s population.
Someone even praised: “Haixin sneezes, the whole cold“. Ly Trieu Hoi, on the contrary, from a young age had extremely poor academic results when 4 out of 5 main courses in high school failed, even had no chance to enter a normal high school.
However, tragedy only really happened to this family in 2003 when Ly Hai Thuong was shot dead by his childhood friend Phung Duong Luong because he wanted to sell his land to Haixin but was refused.
Although the list of successors is up to 3 potential people: one is a personal assistant who has closely followed Mr. Ly Hai Thuong since the early days of his career; 2 is the general director of Haixin, also the 5th brother of Mr. Lee; 3 was Ly Trieu Hoi’s son, but in the end, for some reason, the son was only a 22-year-old student, without any experience in business and management, and stood up. hegemony”.
Tragedy suddenly happened to the family of young Ly Trieu Hoi when Mr. Ly Hai Thuong was shot and killed.
Surprisingly, the iron and steel market at that time was in a boom period, so business was favorable. Li Zhaohui has been evaluated by the business world as “talent does not wait for age”, comes up with effective business strategies and even entered the list of the richest people in China by Forbes magazine.
Haixin’s annual revenue skyrocketed from 5 billion yuan to 8 billion yuan. In 2004, Ly Trieu Hoi started to participate in the investment market. And then this “wet feet” teenager suddenly became the youngest billionaire in Shanxi with a net worth of 15 billion yuan (about 2.1 billion USD).
Success makes “blind eyes”
Early success, Ly Trieu Hoi started burning money on luxury cars, villas, yachts, using private planes to travel between Son Tay and Beijing.
At the same time, participating in the stock market was so successful that the young man was not alert, ignoring his company even though the market was in crisis at that time due to excess supply, outstripping demand.
Ly Trieu Hoi even resigned as General Director of Haixin, only holding the position of Chairman to play stocks. Until 2013, Haixin Group only had 7 billion yuan in assets, but had to hold a debt of more than 25 billion.
Just a year later, Haixin declared bankruptcy and restructured. In 2015, Haixin changed hands, officially belonging to Beijing Jianlong heavy industry group, the billion-dollar industry has now disappeared.
The “smell of money” marriage with a famous actress
The company is heavily in debt, yet the young man with the surname Ly “famous for loving beautiful women” still held a wedding that was considered the most luxurious and lavish in Chinese showbiz at that time. At a glance, there must be 600 banquet tables, a fleet of 200 supercars full of Rolls Royce, Lamborghini, … to welcome the bride.
He also excitedly gave lucky money to more than 10,000 of his employees 500 yuan (about 1.7 million VND) each.
The “sneaky” wedding of the Chairman of the Iron and Steel Group.
Ly Trieu Hoi gave an expensive gift to his bride.
Only a year later, Ly Trieu Hoi gave his wife an amount of 43 million USD (nearly 1,000 billion VND), but it was to break up peacefully, with the meaning of “compensating youth” for that daughter.
When the family business was in jeopardy, Ly Trieu Hoi again hid in Beijing, spending months traveling leisurely, giving money to many beautiful women.
Young master Li spent up to 2 million yuan just to eat with Jackie Chan.
The same scenario played out again 5 years later, about to go bankrupt, but Ly Trieu Hoi was still determined to remarry with actress Trinh Nuan Nuan, and then invested hundreds of billion more in movies to help. beautiful people won the main roles in the movies.
Just like that, by 2019, the Beijing News estimated that Li Zhaohui would have to “buckle” a debt of 1 billion yuan (about 3,500 billion dong) while all the real estate in his name had been confiscated. return for auction. The court is still looking for Ly Trieu Hoi, who reports can receive a reward of up to 21 million yuan (about 74 billion dong).
So in just 10 years, the long-standing achievements of this family have collapsed. This young master’s son has destroyed the $ 2 billion fortune left by his father, moreover, “born” more debts that cannot be paid.
Source: Sohu, EpochTimes, Toutiao
at Blogtuan.info – Source: Soha.vn – Read the original article here