Chapter 775 – Jeff decision
Feng Yu’s home was not as luxurious as Jeff imagined. Many wealthy people prefer to stay in a bustling city, but also own a villa in the city’s outskirts.
Although Seattle’s climate was suitable for living and had lovely surroundings, but other than Bill Gates, there were not many famous tycoons.
Mr. Feng was a Microsoft Director, and if the rumors were true, then he should be holding on to more than 10% of Microsoft’s shares. His net worth should be at least a few billion. Bill Gates had spent 5 years to construct America’s first Smart villa, and the construction was still ongoing. To stay in this type of house, Mr. Feng was considered very humble.
“Hello, Mr. Feng.”
Jeff looked around. There were no women around. Mr. Feng was very young, how come there were no women around, other than a cook in her forties?
“Have a seat. Dinner will be served soon. Do you know how to use chopsticks?”
Jeff replied embarrassedly: “I can try.”
Feng Yu turned and shouted to the kitchen: “Sister Zhao, prepare a set of western utensils.”
“Thank you.” Jeff bowed slightly and thanked Feng Yu.
When the dinner was ready, Feng Yu sat at the main seat, and Jeff was sitting on his left. On his right were Ralph and Wilson.
Sister Zhao had cooked a few simple dishes and helped to separate the dishes into portions for them. After that, she went out to the garden to help her husband. She knew that they have something important to discuss and should not remain there.
In the US, people were used to separating their food into individual portions. Feng Yu respected their culture. But he really wanted to tell them that other than soup, only kids in China will eat this way.
After putting a spoonful of potato into his mouth, Jeff said excitedly: “Mr. Feng, this is really delicious. I didn’t know beef and potato go so well together.”
“I’m glad you like it. Come over often in the future. Sister Zhao knows how to cook lots of dishes from different provinces.” Feng Yu smiled and replied. He was in an excellent mood to know his guest enjoyed the food.
“Sure. Mr. Feng, I need to tell you something. Those directors in the company are not willing to let you invest in the company.” Jeff said. He felt embarrassed as he claimed he will be able to convince the directors within 3 days.
“Really? What did they say?” Feng Yu laughed and asked.
“They said they are only willing to give you 35% of the shares for 25 million USD.” Only a handful of directors supported Jeff. But it was not enough for Jeff to override the rest of the directors.
Before Feng Yu could reply, Ralph retorted: “Mr. Jeff, I remember the registered capital of your company is only 30 million, right? My boss is going to invest 25 million, and the value of the company should be 55 million USD. He should be getting 45.45% of the shares. How did you all come up with 35%?”
Feng Yu smiled and did not say anything. He also wants to hear Jeff’s explanation. Amazon had been making losses all this while, how can the company’s value increase by so much?
Could it be…… Jeff also does not want him to be the company’s biggest shareholder?
Jeff put down his fork and spoon and started explaining. “Mr. Feng, Mr. Ralph. I also know this will be selling the company’s shares at a premium price. Although I am the biggest shareholder of the company, I do not have the controlling shares. I can’t override the decisions made by them.”
Jeff only owns about 1/3 of Amazon’s total shares. This was the most he could afford. He still has some stocks of other companies and a few properties. But the total value of all these was only about 5 million USD. He does not have much money.
Ralph still wanted to say something, but Feng Yu raised his hand to stop him. “I don’t mind paying extra for the shares. But this price is ridiculous. You had said before that the company’s profitability is not high. I want 40% of the shares for 25 million USD. You go back and tell those directors. If they agree, we will sign the contract, and the money will be wired in on that day. If they do not agree, then ask them to look for other investors. Maybe they can find an investor who is more generous than me.”
Ralph kept quiet. He knew Feng Yu was insistent on investing in Amazon. He will not try to persuade him. In the future, he might be handling Amazon’s shares on Feng Yu’s behalf. After all, Feng Yu only have one assistant, and he does not like to do work.
Jeff was overjoyed. “Rest assured, Mr. Feng. If I am unable to convince the rest of the shareholders with this offer, I will be too ashamed to face you again.”
Feng Yu swallowed his food and asked: “Your relationship with the rest of the directors is not good?”
“They had invested in my company because it is an internet company and they will make money when the company is listed. But my company is different from those internet and technology companies. Amazon is only a website selling books. Of course, this is only a trial. It’s just like what Mr. Feng said. An online shopping mall. If selling books can make profits, then other products should also be profitable.”
“Can I say that if those shareholders have the opportunity to sell off their Amazon’s shares, they will sell it away?” Feng Yu asked.
Jeff was stunned: “Mr. Feng, are you thinking of buying the shares from them?” Damn! If Mr. Feng bought the shares from those shareholders, then he will own more than 50% of the company.
“Why not? This company is your dream. But I am also very interested in it. Those shareholders only want to make money because this is an internet company. They are not fit to own Amazon’s shares. Tell me, which of those directors have thought of selling their shares? I will let Ralph speak to them and buy all their shares. Those people should go to hell.”
This was an excellent opportunity to become Amazon’s biggest shareholder. Feng Yu could also pull Jeff Bezos over to his side. How could Feng Yu let this chance slip away?
Jeff was quiet. With Feng Yu’s investment, his shares of Amazon will be diluted. Now, if Feng Yu acquired the shares from the other shareholders, then Feng Yu would have the controlling stake of the company.
That means Feng Yu will have the final say in the company.
Feng Yu could sense Jeff’s worries and laugh. “You will still be the overall in-charge of the company. I will not interfere with the company’s operations. You will also be the one to set up the board of directors. Ralph will be assisting me in monitoring the company. When the company is listed in the future, the top management will get some shares as rewards.”
Jeff smiled after hearing what Feng Yu said. “Since Mr. Feng says so, then I will have no more worries. I promise I will manage Amazon well and let you see the returns of your investment.”
Feng Yu raised his glass: “Let’s have a toast for our success!”
Ralph, who will become Feng Yu’s representative overseeing Amazon, also raised his glass excitedly: “All the best for Amazon!”