Recently, Hong Kong media reported explosive news: Evergrande founder Xu Jiayin's ex-wife Ding Yumei was accused of using a 'technical divorce' to pocket hundreds of billions in dividends from Evergrande. Nine months after Evergrande's loan default, this wealthy lady bought luxury homes in London through five offshore companies, spending £49.8 million (about HK$527 million). While Xu Jiayin was busy in the mainland digging into his own pockets to repay debts, his ex-wife was lavishly spending on the other side of the English Channel. Isn't this worse than sucking the marrow out of bones?
There are many business owners who fail, but couples like Xu Jiayin and Ding Yumei, who can prepare for rainy days by tightly guarding their money and prioritizing family interests, are truly rare. Do you remember that performance of 'remembering hardships and tasting sweetness' in 2018? Xu Jiayin and his wife returned to their hometown in Henan, eating sweet potatoes and black corn cakes, dramatically reminiscing about the tough times. Ding Yumei even complained: '35 years ago when I married Xu Jiayin and returned home, the village was so poor, now the changes are really big.' Just seven years later, is this wealthy lady secretly delighted in her heart: luckily I made a quick escape back then, or else this immense fortune would have all been lost.
How hypocritical can this couple be? On one hand, they play the part of the suffering couple in the village, while on the other hand, they pocket Evergrande's money. From 2009 to 2021, Evergrande accumulated a net profit of 173.388 billion, with nearly 70 billion in dividends alone. This 54 billion in dividends has been pocketed by Xu Jiayin and his 'friends'.
Now, Ding Yumei ranks 26th among Hurun's female entrepreneurs with a net worth of 17 billion, owning properties worth $285 million globally, with countless properties in Canada and the UK. To put it bluntly, they treat Evergrande as an ATM and the wallets of the people as cash machines. Even more outrageous, the two engaged in a 'technical divorce', a plot for asset transfer that rivals a grand family drama. While Xu Jiayin applied for bankruptcy protection in the US, Ding Yumei was busy acquiring assets in London, constantly finding ways to cash in for future generations. Have you ever seen such a scheming spendthrift? When Hu Xueyan, the richest man in the late Qing Dynasty, went bankrupt, he put all his assets on the table to repay his debts—that's true business integrity. In comparison, Xu Jiayin's actions are even below that of a local landlord. Ultimately, the collapse of Evergrande was no accident but a consequence of Xu Jiayin's own actions. He didn't focus on managing the business but was instead obsessed with tricks and deception, ultimately digging his own grave. Now, he walks away, leaving a heap of mess for the people of the country to clean up. Isn't this outcome more absurd than committing a crime? To be honest, a person like Xu Jiayin will not see good karma in this life, and his descendants have no hope either. If this happened to anyone else, which common person could swallow this bitterness?