69: Chapter 69 Asset Inventory! The Lin Family's Business Empire!
Lin Tian had successfully taken over the banking operations of Wells Fargo.
The final missing piece of the Lin family's business empire had finally been filled.
Although this acquisition had almost emptied the Lin family's cash reserves, Lin Tian was not panicked at all.
As long as he held the bank in his hands, he could transfer money from his left pocket to his right pocket through internal loans at any time.
Coupled with the "black technology" that had been suppressed in the Umbrella Laboratory for so many years, releasing just a little bit of information could earn massive wealth.
Before long, the Lin family's treasury would be overflowing with banknotes again.
It was worth taking stock of exactly how much wealth the Lin family currently possessed.
First was the Lin-Smith Oil Company.
They had struck super oil wells in California, Texas, and Oklahoma, with a total reserve of 560 million tons!
The total valuation was 120 million USD.
The Lin family held a 40% stake, worth 48 million USD.
Next was the Lin-Smith Razor Factory.
After several years of distribution, it was valued at 2 million USD.
The Lin family held an 80% stake, worth 1.6 million USD.
The Lin-Browning Arms Company was even more of a money-printing machine.
The Model 1882 rifle and M1885 pistol were global hits, with over two million units sold cumulatively, resulting in pure profits exceeding ten million.
Including various patents and brand premiums, the valuation was 20 million USD.
The Lin family held a 95% stake, worth 19 million USD.
The Lin-Rockefeller Electric Company, relying on the technical barriers of Alternating Current, now supplied electricity to 80% of New York citizens.
The remaining 20% of die-hards were still clinging to Edison's Direct Current.
With an annual net profit of 2 million USD, the company was valued at 30 million USD.
The Lin family held a 70% stake, worth 21 million USD.
CFC fast-food chain.
After eight years of painstaking management, over fifty branches spread across major cities nationwide, with an annual profit starting at 2 million USD.
Combined with the exclusive formula for Coca-Cola, the overall valuation was 35 million USD.
The Lin family owned it entirely, not needing to share a single cent with anyone.
Finally, there was the prestigious media brand, The New York Times, as well as the large plots of land in Times Square that had been hoarded at low prices in the early years.
The land didn't look like much now, but in the future, it would all be prime real estate worth its weight in gold.
Adding up these several industries, the Lin family's total assets had safely surpassed the 100 million USD mark!
Although there was still a gap compared to the old hegemon, Rockefeller, the Lin family had undoubtedly entered the top-tier elite club of the USA.
However.
Having money in one's pocket was one thing, but social status was another.
Over the years, relying on the rise of the Lin family and the strong support of Rockefeller, the Chinese Exclusion Act had been forcibly suppressed, but Chinese people were still not truly accepted by mainstream society; their status was at best slightly better than that of Black people.
This was especially evident in the Midwest.
But Lin Tian firmly believed in his heart that, relying on diligence and wisdom, Chinese people would sooner or later earn the qualification to stand tall and speak.
...
One week later.
Explosive news shook the entire US financial circle.
Wells Fargo & Company was officially split!
After accounting audits, Lin Tian had secured absolute controlling rights over the banking business with a 56.3% stake.
J.C. Fargo, with a 53.1% stake, continued to control the transportation business.
One had to know that the banking business of Wells Fargo was an absolute hegemon in the West.
Its branches were not called branches; they were all called "stores."
This was not just a casual name.
This bank attached great importance to cross-selling, averaging several financial products stuffed into one corporate client.
Relying on this interlocking model, the bank's efficiency was squeezed to the limit.
The newly appointed bank president loudly announced to reporters that the Wells Fargo headquarters was about to relocate entirely from San Francisco to New York.
When reporters heard this, they were as excited as if they had been injected with adrenaline; tomorrow's front-page headlines were all set!
The news reached Wall Street in New York, and both financial giants, Rockefeller and Morgan, received word simultaneously.
The two knew exactly what was going on behind the scenes of this split.
Rockefeller laughed it off, his face calm.
But Morgan could not sit still.
As the boss of Wall Street's number one bank, Morgan controlled a large group of financial institutions such as the Bankers Trust Company, known as the Morgan Alliance.
Originally, Wells Fargo was also a little brother in the alliance.
But now, the bank had changed hands, and the big boss had become Lin Tian.
Morgan had been paying attention to Lin Tian for more than a day or two.
Especially after repeatedly hitting walls in his early investments in Edison, he dared not underestimate this young Chinese man anymore.
It was just a pity that Lin Tian was too close to Rockefeller's youngest daughter, and Morgan had no way to win him over.
Over the years, he had watched the Lin family expand wildly under the wings of Rockefeller, and now even the financial hegemon of the West had been swallowed by Lin Tian.
Morgan muttered to himself: Letting Rockefeller's staunch ally infiltrate his own territory was definitely planting a time bomb. If Rockefeller took the opportunity to interfere in Western finance, it would be a fatal blow to the Morgan Alliance!
Morgan pondered for a long time, grabbed the phone on his desk, and ordered his secretary:
"Send an invitation. I'm hosting a dinner party this weekend. Invite Bruce Lin of the Lin family to have a drink!"
"Understood, boss!"
The secretary immediately called the Lin Manor on the banks of the South Hudson River in New York.
Butler John answered the phone and readily agreed: "I will convey this to Mr. Lin Tian."
After hanging up, Butler John called the The New York Times building directly.
"Morgan wants to treat me to dinner? Fine, got it!"
Lin Tian hung up the phone, the corners of his mouth curling upward.
"He must be targeting Wells Fargo!"
Morgan was a hegemon of Wall Street.
With such a big change happening right under his nose, if he didn't even make a splash, it would make people look down on him.
However, before attending the banquet, Lin Tian felt it necessary to check in with Rockefeller first.
He clearly remembered that once when he was a guest at the manor, Rockefeller had openly stated that he felt nauseated just seeing Morgan's arrogant attitude.
It was no secret in New York's upper circles that these two business giants did not see eye to eye.
Plus, over the years, Rockefeller had helped the Lin family a lot, both in opposing the Chinese Exclusion Act and in business.
Reasonably and sentimentally, he had to give him a heads-up.
As soon as the call connected, Rockefeller's hearty laughter came through:
"Lin Tian, congratulations on securing Wells Fargo! This is definitely a golden investment!"
Lin Tian responded politely: "Uncle Rockefeller, you flatter me. If you keep praising me like this, I'm afraid I'll float away."
"Haha, it would be good if you really floated away! I am drooling over the businesses under your control, especially the Umbrella Laboratory!"
As one of the partners of the laboratory, Rockefeller knew well that the technology hidden in the laboratory was a super gold mine calculated in the billions.
Radio, automobiles, anti-inflammatory miracle drugs...
Just taking out any one of them could shake the world.
But what made Rockefeller anxious was that Lin Tian had amazing self-control. Apart from releasing the Alternating Current technology back then, he kept the rest tightly in his hands and refused to let go.
This made even the cunning and scheming Rockefeller scratch his head.
Sensing the subtext in the other's words, Lin Tian quickly laughed it off:
"Uncle Rockefeller, you really love to joke. You are a partner of the laboratory; let's make money together."
"Alright, enough idle talk. Why did you call me today?" Rockefeller didn't dwell on it.
"Morgan just sent an invitation, asking me to attend a banquet this weekend. I wanted to hear your thoughts." Lin Tian went straight to the point.
Rockefeller, sitting at the Standard Oil headquarters, pondered for a moment and replied with a smile:
"Bruce, it wouldn't hurt to go and hear what kind of nonsense he wants to spout. But you must be careful; this old guy is arrogant and conceited. Watch out not to fall into his trap!"