Li Zhaohui, once the richest man in Shanxi, changed his life to save his husband's career. Why did he lose tens of billions in the end and become a laughing stock?

First of all, what Li Zhaohui has to do is to firmly hold the number one spot. Now the most senior person in the company is him. He started the business with his father and is now the vice chairman and party secretary. Li Zhaohui used his family's strength, and with the support of his grandfather and uncle, to transfer the core "outsiders" of the company to support the elderly. Then he drove away his uncle Li Tianhu at the expense of a cement factory, and then transferred Liu Shu, who was very close to him, to the core of power and became his right-hand assistant.

Through this method, Li Zhaohui's leadership has become more secure and has absolute real power in his hands. Secondly, he has greater ambitions. After all, Li Zhaohui stayed abroad. Unlike his parents, who had only known steel manufacturing and sales, he knew the power of capital and collectivization. He used Haixin Steel's working capital to enter more profitable industries: the stock market, real estate, energy and insurance. Under his leadership, Haixin Steel achieved a profit of 1.2 billion yuan that year, making it its best year ever.

In the next few years, Li Zhaohui left his father's steel factory and developed into a group company integrating coking, power generation, cement, real estate, finance, insurance and other industries. In 2008, Li Zhaohui was praised as He is the "richest man in Shanxi" with a wealth of 12.5 billion. After 2008, China's steel industry fell into the quagmire of "overcapacity". At that time, Cheng Siwei, an economist and former vice chairman of the Standing Committee of the National People's Congress, pointed out that my country's steel industry currently has overcapacity reaching 200 million tons. Based on an investment of 5,000 yuan per ton of steel production capacity, the investment waste in my country's steel industry has reached 1 trillion yuan.

In 2009, in order to solve this problem, the Ministry of Industry and Information Technology issued the "Access Conditions and Management Measures for the Production and Operation of Existing Steel Enterprises" to solicit opinions and provide special equipment with a production capacity of less than 1 million tons. Steel companies have drawn up red lines. Steel companies with a production capacity of less than 500,000 tons mean that more than half of domestic steel companies are facing elimination.

First, he was found to have cashed out RMB 40 million from Shanxi Securities and was invited to "drink tea." Banks did not dare to lend him money because of his tax evasion and transfer of assets to related companies. This expert in capital operations suddenly became a skilled woman who had no money to make a living. After demolishing so many western walls, there was no eastern wall to demolish. Come and make up.

With a group as big as Haixin Steel, no one would lend a hand to help him? This was also a big mistake Li Zhaohui made because he was too young. Unlike his father, who was both a good official and a businessman and had extensive contacts, Li Zhaohui, who returned from studying abroad, seemed unwilling to have much interaction with the local government. He believed more in the power of capital rather than the old-fashioned interpersonal relationships.