The Tyrant Billionaire

Princess Margaret, standing beside her father and sister, overheard the conversation and scoffed, "That Jon Hardy is quite rude. Rolls-Royce already said they wouldn’t sell it, yet he still insisted on pushing his way in." Nôv(el)B\\jnn

King George VI glanced at his younger daughter and smiled, then turned to his elder daughter, "In a few days, the royal family will be hosting a ball to entertain the aid and delegation members. I’ve already given the order, and you’ll be in charge of it."

"Yes, father," Princess Elizabeth responded calmly.

Princess Margaret’s eyes twinkled as she thought about Jon Hardy, wondering if she might meet the barbarian american fellow at the ball. If the opportunity arose, she might secretly humiliate him a little. That would certainly make for an interesting scene.

With royal approval, Hardy would now own a car identical to the future British Queen’s. However, it would likely take a year or two before the car was ready.

Five days had passed.

The situation with HSBC in Hong Kong had yet to calm down.

Thousands of people were gathered outside every day, shouting slogans and demanding the payout of their savings. HSBC had shut its doors and could no longer operate.

These people were determined, as if they wouldn’t leave without getting their money.

HSBC’s normal operations were completely unable to continue, and everything came to a standstill. The management was at a loss and sought advice from the board of directors.

At this point, no one on the board cared about resuming business. They were all focused on whether to sell their shares. The bank was already in trouble, and the future posed significant risks. If Hong Kong was sold over by the british, HSBC’s most valuable asset—the right to issue currency—would be lost. The few branches in Southeast Asia wouldn’t sell for much, likely only a few million.

They were all investors, and when they saw risk in their investment, they thought about how to maximize their profits by selling their shares at a high price while they still had the chance.

Selling had already become a consensus.

The only issue was the price.

Rockefeller’s offer was too low and far below their expectations. However, at this critical moment, the bank run exposed all the problems they had been trying to cover up, significantly devaluing the bank.

Inside the meeting room.

The atmosphere was tense.

One HSBC shareholder stood up and said gravely, "We’ve been in meetings for two days now. I don’t think we can delay any longer. The Hong Kong headquarters is full of people trying to withdraw their money, and a larger conflict could erupt at any moment.

I’ve already sent a telegram to the Chief of Police in Hong Kong, but he said they’ve done all they can, and there’s no way to suppress the crowd with force.

"Ladies and gentlemen, whether you agree or not, I’ve decided to sell. I’m worried about HSBC’s future, so I’ve decided to terminate this investment. If you don’t agree to a collective sale, I’ll contact buyers on my own."

Everyone frowned.

When a dam begins to crack, it means a collapse is not far off.

HSBC contacted David Rockefeller, informing him that they agreed to his offer and were willing to sell even more shares, as many shareholders no longer had confidence in HSBC’s future.

In particular, the two largest shareholders, the Sassoon family and the Flemming family, were preparing to sell all their shares, while some other families chose to dilute their holdings by selling a portion to reduce risk.

In the end, HSBC was prepared to sell 54% of its shares.

On the day of the transaction, David brought Hardy along and introduced him to the people from HSBC. "This is Mr. Jon Hardy of the Hardy Group. I’m sure you’ve heard of him."

Naturally, the HSBC shareholders had heard of Hardy and quickly shook hands with him.

David continued, "This transaction carries significant risk, so I brought in a partner. The acquisition will be completed jointly by Manhattan Bank and Wells Fargo."

Whether one company or two was making the acquisition didn’t matter to HSBC; they just wanted to sell their shares quickly.

Before arriving, Hardy and David had already discussed the details. David was doing this deal largely because he wanted to try partnering with Hardy. He wasn’t a big risk taker, so he planned to give most of the shares to Hardy.

In the end, HSBC sold 54% of its shares—Wells Fargo bought 34%, Manhattan Bank bought 20%, and Hardy became the largest shareholder of HSBC, spending more than $38 million.

After the transaction, a board meeting was held, and Hardy was announced as HSBC’s new chairman. Hardy noticed that Hong Kong’s four major trading houses—Swire, Jardine, Wheelock, and Hutchison—held shares in HSBC, though not much, with each owning only about four or five percent.

With the bank changing hands, HSBC’s president, A.H. Saunders, immediately brought several vice presidents to the UK to meet the new chairman.

They were nervous, having heard that the new chairman was the owner of Wells Fargo. Would he replace all of them since he had his own bank?

When Hardy met with the bank’s management, David specifically asked to join, wanting to see how Hardy would handle HSBC’s current problems.

"Mr. Hardy, Mr. Rockefeller, it’s a pleasure to meet you," Saunders said respectfully to the chairman and the major shareholder.

He then reported to both shareholders about HSBC’s current situation. In truth, Hardy had already gathered about 70 to 80% of the information, and Saunders’ detailed report confirmed much of what Hardy already knew.

After hearing Saunders’ report, Hardy said, "The biggest issue right now is the bank run, correct?"

"That’s right."

"I’ll help you solve this problem. Wells Fargo and Manhattan Bank will temporarily loan HSBC enough money to cover all the checks and deposits. This issue must be resolved cleanly. Every person who comes to withdraw money must be paid, ensuring HSBC’s reputation."